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4203 Midnight Crest Avenue North Las Vegas, NV 89031

3 Beds 3 Baths 2,219 sqft Built 2019

$410,000

List Price

$1,800

$1.6K - $2K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
February 21, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2019
  • Price/Sqft : $184.77
  • 8 Days on Market
  • MLS # : 2271837
  • Updated Date : 02/21/2021 at 20:30
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,219 sqft
  • Baths : 3 full
Listing Agent

Coldwell Banker Premier

Listing Agent's Description

GORGEOUS ALMOST BRAND NEW HOME 3 BEDROOM + LOFT LENNAR HOME* SPACIOUS BEDROOMS WITH WALK IN CLOSETS* BEAUTIFULLY UPGRADED KITCHEN WITH GRANITE COUNTER TOPS + LARGE ISLAND+ WALK IN PANTRY* GATED COMMUNITY* NEARBY PARK + PLAYGROUND +PICNIC AREA* 2 CAR GARAGE* ALL APPLIANCES INCLUDED* HOME AUTOMATION* LARGE LOW MAINTENANCE BACKYARD*

SEE MORE

MARKET HIGHLIGHTS

  • Las Vegas metro's economy was worth $124.9 billion in Gross Metro Product in 2018 and projected to grow to $133.2 billion in 2019 (USMayors.org, 2018)
  • As the largest share, Las Vegas metro contributes to 75.1% of Nevada state's economy i.e. Gross State Product (USMayors.org, 2018)
  • Las Vegas metro has 61.2% labor force participation rate (USMayors.org, 2018)
  • Las Vegas metro's employment growth was at 2.6% in 2018 and predicted to grow at the rate of 1.7% in 2019 (USMayors.org, 2018)
  • A $7.5 billion mixed-use 6-year project known as Bleutech Park Las Vegas is starting in December 2019. The project will incorporate environmental and technological features such as water purification, on-site waste treatment and localized air cleaning. Described as an “insular mini-city,” the plan calls for use of autonomous vehicles, AI, augmented reality, robotics and other advanced technologies. (reBusinessOnline - France Media, 2019)
  • Las Vegas metro's major employers include: MGM Resorts International, Caesars Entertainment Corporation, Stations Casinos, LLC., Wynn Resorts, Boyd Gaming Corporation, Las Vegas Sands Corporation, Walmart Stores, Cosmopolitan of Las Vegas, The Valley Health System and Supervalu (Las Vegas Sun, 2019)

PRICE & RENT TRENDS

Neighborhood: Highland Hills

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300kPrice in $110k311k

* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR

Neighborhood: Highland Hills

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21000105011001150120012501300135014001450150015501600Rent in $9671606

* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR

SCHOOLS

NAME EDUCATIONAL LEVEL SCHOOL TYPE # OF STUDENTS # OF TEACHERS GREATSCHOOLS RATING
Theron And Naomi Goynes Elementary School Primary Regular 896 41 7
Lied Middle School Middle Regular 1,118 45 5
Shadow Ridge High School High Regular 2,697 105 6

Theron And Naomi Goynes Elementary School

  • Education Level: Primary
  • # of students: 896
  • # of teachers: 41
7
GreatSchools Rating

Lied Middle School

  • Education Level: Middle
  • # of students: 1,118
  • # of teachers: 45
5
GreatSchools Rating

Shadow Ridge High School

  • Education Level: High
  • # of students: 2,697
  • # of teachers: 105
6
GreatSchools Rating
 

$369,000$451,000$410,000

PURCHASE PRICE

$1,620$1,980$1,800

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,800
EXPENSES Loan Payment -$1,424
Property Tax -$86
Property Insurance -$70
Property Management Fees -$119
CASH FLOW
$101

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 16% of earned rent to cover both maintenance and periods of vacancy.

$410,000

PROJECTED PRICE

$1,800

PROJECTED RENT

0.44%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.96%
Appreciation Year (1-5) 10.6%
Maintenance Year (1-5) 8.00%
Vacancy 7.63%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M$1.6M

PROJECTED ANNUAL CASH FLOW

11530$0.0$5.0k$10k$15k$20k$25k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$114,400

INVESTMENT

$114,400

Down Payment
$102,500
Rehab Estimate
$5,750
Closing Costs
$6,150

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 40% down payment or higher enables the proceeds from the asset to cover all costs.

$1,424

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $102,500
Loan Amount $307,500
See What Happens When You Reinvest Cash Flow

7.5

YEARS SAVED

$38,459

INTEREST SAVED

CASH FLOW REINVESTMENT

The time & interest saved by applying each month's positive cash flow towards loan principal pay down.

  • $1,800

    LIST RENT
  • $0.81

    LIST RENT PER SQFT
  • $1,903

    COMP ESTIMATED VALUE
  • $0.86

    COMP AVG. RENT PER SQFT
Comps Range
$1,750
1$1,7502$1,8003$1,8504$1,8755$1,995
$1,995
RENT COMPS ANALYSIS
  • 4203 Midnight Crest Avenue North Las Vegas, NV 2
    • 3 beds 3 baths ∙ 2,219 Sqft ∙ Built 2019 3 beds 3 baths ∙ 2,219 Sqft ∙ Built 2019
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $0.81
    •  
  • 3913 Ratite Way North Las Vegas, NV 1
    • 3 beds 2 baths ∙ 2,032 Sqft ∙ Built 2003 3 beds 2 baths ∙ 2,032 Sqft ∙ Built 2003
    LEASED 09/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.86
    •  
  • 4024 Lorikeet Drive North Las Vegas, NV 3
    • 3 beds 3 baths ∙ 2,162 Sqft ∙ Built 2019 3 beds 3 baths ∙ 2,162 Sqft ∙ Built 2019
    LEASED 03/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $0.86
    •  
  • 6230 Orions Belt Peak Street North Las Vegas, NV 4
    • 3 beds 3 baths ∙ 2,218 Sqft ∙ Built 2018 3 beds 3 baths ∙ 2,218 Sqft ∙ Built 2018
    LEASED 09/25/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,875
    • $0.85
    •  
  • 4216 Cape Eagle Avenue North Las Vegas, NV 5
    • 3 beds 3 baths ∙ 2,324 Sqft ∙ Built 2006 3 beds 3 baths ∙ 2,324 Sqft ∙ Built 2006
    LEASED 02/01/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,995
    • $0.86
    •  
PROPERTY LISTING DETAILS
Nick A Laymon
1.702.533.5713
Coldwell Banker Premier
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2271837
Last Updated: 02/21/2021
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