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4325 Scarlet Sea Avenue North Las Vegas, NV 89031

3 Beds 3 Baths 1,630 sqft Built 1999

$270,000

List Price

$1,470

$1.3K - $1.6K

Rent Est.

PROPERTY INFO

January 02, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1999
  • Price/Sqft : $165.64
  • 3 Days on Market
  • MLS # : 2258147
  • Updated Date : 01/02/2021 at 06:13
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,630 sqft
  • Baths : 2 full , 1 half
Listing Agent

Vision Realty Group

Listing Agent's Description

Looking for a house with the WOW FACTOR? THIS IS IT! Stunning 2 story 3 bed/2 bath home for UNDER 275K! FORMAL living room and dining room with SOARING VAULTED CEILINGS. Large family room with COZY FIREPLACE. OPEN kitchen with garden window, STAINLESS STEEL appliances and WALK-IN pantry! No feeling claustrophobic in your HUGE MASTER bedroom with vaulted ceilings. Master bathroom with dual sink and tub/shower. Good size secondary bedrooms. BIG BACKYARD with COVERED PATIO. THIS IS THE ONE! THIS IS HOME!

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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)

PRICE & RENT TRENDS

Neighborhood: Northbrook

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260k280kPrice in $84k296k

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

Neighborhood: Northbrook

NeighborhoodNIR Market*CityMarket2010Year20002019 Q29501000105011001150120012501300135014001450150015501600Rent in $9291603

* 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
Addeliar Guy Elementary School Primary Regular 641 35 5
Theron L. Swainston Middle School Middle Regular 1,146 52 NA
Cheyenne High School High Regular 2,212 91 2

Addeliar Guy Elementary School

  • Education Level: Primary
  • # of students: 641
  • # of teachers: 35
5
GreatSchools Rating

Theron L. Swainston Middle School

  • Education Level: Middle
  • # of students: 1,146
  • # of teachers: 52
NA
GreatSchools Rating

Cheyenne High School

  • Education Level: High
  • # of students: 2,212
  • # of teachers: 91
2
GreatSchools Rating
 

$243,000$297,000$270,000

PURCHASE PRICE

$1,323$1,617$1,470

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,470
EXPENSES Loan Payment -$996
Property Tax -$194
Property Insurance -$59
Property Management Fees -$119
CASH FLOW
$103

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 17% of earned rent to cover both maintenance and periods of vacancy.

$270,000

PROJECTED PRICE

$1,470

PROJECTED RENT

0.54%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.75%
Appreciation Year (1-5) 11.8%
Maintenance Year (1-5) 8.00%
Vacancy 8.50%
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

PROJECTED ANNUAL CASH FLOW

11530$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k$16k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$77,300

INVESTMENT

$77,300

Down Payment
$67,500
Rehab Estimate
$5,750
Closing Costs
$4,050

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 45% down payment or higher enables the proceeds from the asset to cover all costs.

$996

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $67,500
Loan Amount $202,500
See What Happens When You Reinvest Cash Flow

7.42

YEARS SAVED

$28,962

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,470

    LIST RENT
  • $0.9

    LIST RENT PER SQFT
  • $1,496

    COMP ESTIMATED VALUE
  • $0.92

    COMP AVG. RENT PER SQFT
Comps Range
$1,470
1$1,4702$1,4953$1,4954$1,5005$1,595
$1,595
RENT COMPS ANALYSIS
  • 4325 Scarlet Sea Avenue North Las Vegas, NV 1
    • 3 beds 3 baths ∙ 1,630 Sqft ∙ Built 1999 3 beds 3 baths ∙ 1,630 Sqft ∙ Built 1999
    • Rent
    • Rent Per SQFT
    •  
    • $1,470
    • $0.90
    •  
  • 4403 Crimson Tide North Las Vegas, NV 2
    • 3 beds 3 baths ∙ 1,630 Sqft ∙ Built 1999 3 beds 3 baths ∙ 1,630 Sqft ∙ Built 1999
    LEASED 06/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,495
    • $0.92
    •  
  • 4406 Crimson Tide Avenue North Las Vegas, NV 3
    • 3 beds 3 baths ∙ 1,638 Sqft ∙ Built 1999 3 beds 3 baths ∙ 1,638 Sqft ∙ Built 1999
    LEASED 08/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,495
    • $0.91
    •  
  • 4423 Crimson Tide Avenue North Las Vegas, NV 4
    • 3 beds 3 baths ∙ 1,630 Sqft ∙ Built 1999 3 beds 3 baths ∙ 1,630 Sqft ∙ Built 1999
    LEASED 09/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $0.92
    •  
  • 4207 Farmdale Avenue North Las Vegas, NV 5
    • 3 beds 2 baths ∙ 1,727 Sqft ∙ Built 2002 3 beds 2 baths ∙ 1,727 Sqft ∙ Built 2002
    LEASED 08/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $0.92
    •  
PROPERTY LISTING DETAILS
Kelly Albright
1.702.505.1029
Vision Realty Group
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2258147
Last Updated: 01/02/2021
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