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4340 Proposal Rock Avenue North Las Vegas, NV 89084

3 Beds 1 Baths 1,781 sqft Built 2019

$339,900

List Price

$1,650

$1.5K - $1.8K

Rent Est.

PROPERTY INFO

January 14, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2019
  • Price/Sqft : $190.85
  • 4 Days on Market
  • MLS # : 2261626
  • Updated Date : 01/16/2021 at 15:05
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,781 sqft
  • Baths : 1 full
Listing Agent

Alpha Ii

Listing Agent's Description

Better than New! This home is in the Valley Vista master plan, which will have a large park. This stunning home has a paver driveway and a stone exterior. Smart home package. New patio cover and landscaped backyard, recently installed 7 step whole home water filtration system. Tile in all the right places, granite counters, stainless appliances, two tone paint.

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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)

PRICE & RENT TRENDS

Neighborhood: North Las Vegas

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260k280kPrice in $84k296k

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

Neighborhood: North Las Vegas

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21000105011001150120012501300135014001450150015501600Rent in $9651603

* 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
Howard Heckethorn Elementary School Primary Regular 657 35 7
Anthony Saville Middle School Middle Regular 1,494 58 NA
Shadow Ridge High School High Regular 2,697 105 6

Howard Heckethorn Elementary School

  • Education Level: Primary
  • # of students: 657
  • # of teachers: 35
7
GreatSchools Rating

Anthony Saville Middle School

  • Education Level: Middle
  • # of students: 1,494
  • # of teachers: 58
NA
GreatSchools Rating

Shadow Ridge High School

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

$305,910$373,890$339,900

PURCHASE PRICE

$1,485$1,815$1,650

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,650
EXPENSES Loan Payment -$1,181
Property Tax -$244
Property Insurance -$62
Property Management Fees -$119
CASH FLOW
$45

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.

$339,900

PROJECTED PRICE

$1,650

PROJECTED RENT

0.49%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.75%
Appreciation Year (1-5) 11.1%
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$1.4M

PROJECTED ANNUAL CASH FLOW

11530$0.0$5.0k$10k$15k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$95,824

INVESTMENT

$95,824

Down Payment
$84,975
Rehab Estimate
$5,750
Closing Costs
$5,099

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,181

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $84,975
Loan Amount $254,925
See What Happens When You Reinvest Cash Flow

6.17

YEARS SAVED

$22,938

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,650

    LIST RENT
  • $0.93

    LIST RENT PER SQFT
  • $1,576

    COMP ESTIMATED VALUE
  • $0.89

    COMP AVG. RENT PER SQFT
Comps Range
$1,395
1$1,3952$1,4953$1,5504$1,5505$1,650
$1,650
RENT COMPS ANALYSIS
  • 4340 Proposal Rock Avenue North Las Vegas, NV 5
    • 3 beds 1 baths ∙ 1,781 Sqft ∙ Built 2019 3 beds 1 baths ∙ 1,781 Sqft ∙ Built 2019
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.93
    •  
  • 4932 Royal Lake Avenue Las Vegas, NV 1
    • 4 beds 2 baths ∙ 1,610 Sqft ∙ Built 2002 4 beds 2 baths ∙ 1,610 Sqft ∙ Built 2002
    LEASED 01/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,395
    • $0.87
    •  
  • 4900 Royal Lake Avenue Las Vegas, NV 2
    • 3 beds 3 baths ∙ 1,684 Sqft ∙ Built 2002 3 beds 3 baths ∙ 1,684 Sqft ∙ Built 2002
    LEASED 09/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,495
    • $0.89
    •  
  • 4948 Naff Ridge Drive Las Vegas, NV 3
    • 3 beds 2 baths ∙ 1,798 Sqft ∙ Built 2003 3 beds 2 baths ∙ 1,798 Sqft ∙ Built 2003
    LEASED 07/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $0.86
    •  
  • 4916 Morning Splash Avenue Las Vegas, NV 4
    • 3 beds 3 baths ∙ 1,684 Sqft ∙ Built 2001 3 beds 3 baths ∙ 1,684 Sqft ∙ Built 2001
    LEASED 09/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $0.92
    •  
PROPERTY LISTING DETAILS
Cristine J Bullard
1.702.326.5939
Alpha Ii
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2261626
Last Updated: 01/16/2021
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