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4375 Micahs Canyon Court Las Vegas, NV 89129

4 Beds 4 Baths 3,856 sqft Built 2001

$900,000

List Price

$2,940

$2.7K - $3.2K

Rent Est.

PROPERTY INFO

January 22, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2001
  • Price/Sqft : $233.40
  • 3 Days on Market
  • MLS # : 2263579
  • Updated Date : 01/22/2021 at 22:30
CONSTRUCTION
  • Beds : 4
  • Floor Size : 3,856 sqft
  • Baths : 3 full , 1 half
Listing Agent

Milestone Realty

Listing Agent's Description

Amazing home nested in boutique gated community with well maintained pool/spa with solar heating (replaced 2011), gorgeous lush garden with rare collections of agave, cactus, flowers as well as well producing fruit and citrus trees. A true quiet peaceful oasis for anyone. Newer AC unit installed 2017, new hot water heaters 2018, flagstone patio 2017, upgraded flooring Italia made travertine, gorgeous open kitchen with GE appliances. Upgraded wood tile in private casita, office, living room and family room. Private premium back lot not boarding any major street. Home recently painted outside with elastamiric paint 2017 and inside fully pained in 2018. High ceilings open floor plan. Too many upgrades to list. Check out this amazing Private Oasis.

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: Lone Mountain

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320kPrice in $119k326k

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

Neighborhood: Lone Mountain

NeighborhoodNIR Market*CityMarket2010Year20002019 Q211001150120012501300135014001450150015501600Rent in $10701616

* 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
Edith Garehime Elementary School Primary Regular 631 32 7
Justice M E Leavitt Middle School Middle Regular 1,496 64 NA
Centennial High School High Regular 3,055 124 6

Edith Garehime Elementary School

  • Education Level: Primary
  • # of students: 631
  • # of teachers: 32
7
GreatSchools Rating

Justice M E Leavitt Middle School

  • Education Level: Middle
  • # of students: 1,496
  • # of teachers: 64
NA
GreatSchools Rating

Centennial High School

  • Education Level: High
  • # of students: 3,055
  • # of teachers: 124
6
GreatSchools Rating
 

$810,000$990,000$900,000

PURCHASE PRICE

$2,646$3,234$2,940

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,940
EXPENSES Loan Payment -$3,126
Property Tax -$611
Property Insurance -$102
Property Management Fees -$119
CASH FLOW
-$1,018

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.

$900,000

PROJECTED PRICE

$2,940

PROJECTED RENT

0.33%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.96%
Appreciation Year (1-5) 10.3%
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$500k$1.0M$1.5M$2.0M$2.5M$3.0M

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$500k$1.0M$1.5M$2.0M$2.5M$3.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$244,250

INVESTMENT

$244,250

Down Payment
$225,000
Rehab Estimate
$5,750
Closing Costs
$13,500

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 65% down payment or higher enables the proceeds from the asset to cover all costs.

$3,126

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $225,000
Loan Amount $675,000
See What Happens When You Reinvest Cash Flow

0.58

YEARS SAVED

$1,665

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,940

    LIST RENT
  • $0.76

    LIST RENT PER SQFT
  • $3,335

    COMP ESTIMATED VALUE
  • $0.87

    COMP AVG. RENT PER SQFT
Comps Range
$2,900
1$2,9002$2,9403$3,3004$3,3005$3,500
$3,500
RENT COMPS ANALYSIS
  • 4375 Micahs Canyon Court Las Vegas, NV 2
    • 4 beds 4 baths ∙ 3,856 Sqft ∙ Built 2001 4 beds 4 baths ∙ 3,856 Sqft ∙ Built 2001
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,940
    • $0.76
    •  
  • 10432 Holloway Heights Avenue Las Vegas, NV 1
    • 4 beds 2 baths ∙ 3,610 Sqft ∙ Built 2003 4 beds 2 baths ∙ 3,610 Sqft ∙ Built 2003
    property image
    LEASED 08/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,900
    • $0.80
    •  
  • 4724 El Presidente Drive Las Vegas, NV 3
    • 4 beds 4 baths ∙ 3,781 Sqft ∙ Built 2004 4 beds 4 baths ∙ 3,781 Sqft ∙ Built 2004
    property image
    LEASED 01/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,300
    • $0.87
    •  
  • 8825 Hickam Las Vegas, NV 4
    • 5 beds 3 baths ∙ 3,880 Sqft ∙ Built 2003 5 beds 3 baths ∙ 3,880 Sqft ∙ Built 2003
    property image
    LEASED 07/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,300
    • $0.85
    •  
  • 4064 Turquoise Falls Street Las Vegas, NV 5
    • 4 beds 4 baths ∙ 3,727 Sqft ∙ Built 2017 4 beds 4 baths ∙ 3,727 Sqft ∙ Built 2017
    property image
    LEASED 12/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,500
    • $0.94
    •  
PROPERTY LISTING DETAILS
Deborah Cimino
1.702.526.8029
Milestone Realty
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2263579
Last Updated: 01/22/2021
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