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4404 Summers Shade Street Las Vegas, NV 89147

6 Beds 4 Baths 3,477 sqft Built 1997

$499,900

List Price

$2,700

$2.5K - $3K

Rent Est.

PROPERTY INFO

November 07, 2020 RECENTLY ADDED
FACTS
  • Built In 1997
  • Price/Sqft : $143.77
  • 3 Days on Market
  • MLS # : 2246383
  • Updated Date : 11/06/2020 at 22:30
CONSTRUCTION
  • Beds : 6
  • Floor Size : 3,477 sqft
  • Baths : 3 full , 1 half
Listing Agent

Rustic Properties

Listing Agent's Description

This home is SPECTACULAR!! 6 bedrooms with a large loft! Primary bedroom downstairs and another upstairs!! RV/boat parking, large island in the kitchen, gorgeous back yard with a covered patio and a POOL/SPA combo and a large shed!!!! All of this with NO HOA!!!! Located next to the freeway and shopping!

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: Spring Valley

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280kPrice in $119k296k

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

Neighborhood: Spring Valley

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2105011001150120012501300135014001450150015501600Rent in $10381606

* 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
Patricia A Bendorf. Elementary School Primary Regular 707 36 9
Lawrence Junior High School Middle Regular 1,421 61 NA
Spring Valley High School High Regular 1,925 79 4

Patricia A Bendorf. Elementary School

  • Education Level: Primary
  • # of students: 707
  • # of teachers: 36
9
GreatSchools Rating

Lawrence Junior High School

  • Education Level: Middle
  • # of students: 1,421
  • # of teachers: 61
NA
GreatSchools Rating

Spring Valley High School

  • Education Level: High
  • # of students: 1,925
  • # of teachers: 79
4
GreatSchools Rating
 

$449,910$549,890$499,900

PURCHASE PRICE

$2,430$2,970$2,700

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,700
EXPENSES Loan Payment -$1,844
Property Tax -$322
Property Insurance -$95
Property Management Fees -$119
CASH FLOW
$321

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.

$499,900

PROJECTED PRICE

$2,700

PROJECTED RENT

0.54%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.96%
Appreciation Year (1-5) 9.9%
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

PROJECTED ANNUAL CASH FLOW

11530$0.0$5.0k$10k$15k$20k$25k$30k$35k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M$1.6M$1.8M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$138,224

INVESTMENT

$138,224

Down Payment
$124,975
Rehab Estimate
$5,750
Closing Costs
$7,499

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 35% down payment or higher enables the proceeds from the asset to cover all costs.

$1,844

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $124,975
Loan Amount $374,925
See What Happens When You Reinvest Cash Flow

9.33

YEARS SAVED

$75,373

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,700

    LIST RENT
  • $0.78

    LIST RENT PER SQFT
  • $2,877

    COMP ESTIMATED VALUE
  • $0.83

    COMP AVG. RENT PER SQFT
Comps Range
$2,650
1$2,6502$2,7003$2,8504$3,0005$3,250
$3,250
RENT COMPS ANALYSIS
  • 4404 Summers Shade Street Las Vegas, NV 2
    • 6 beds 4 baths ∙ 3,477 Sqft ∙ Built 1997 6 beds 4 baths ∙ 3,477 Sqft ∙ Built 1997
    • Rent
    • Rent Per SQFT
    •  
    • $2,700
    • $0.78
    •  
  • 8862 Rio Verde Avenue Las Vegas, NV 1
    • 5 beds 4 baths ∙ 3,429 Sqft ∙ Built 1996 5 beds 4 baths ∙ 3,429 Sqft ∙ Built 1996
    LEASED 03/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,650
    • $0.77
    •  
  • 9522 Gainey Ranch Avenue #. Las Vegas, NV 3
    • 5 beds 4 baths ∙ 3,758 Sqft ∙ Built 1998 5 beds 4 baths ∙ 3,758 Sqft ∙ Built 1998
    LEASED 08/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,850
    • $0.76
    •  
  • 3120 Stern Drive Las Vegas, NV 4
    • 6 beds 3 baths ∙ 3,557 Sqft ∙ Built 1989 6 beds 3 baths ∙ 3,557 Sqft ∙ Built 1989
    LEASED 05/15/19
    • Rent
    • Rent Per SQFT
    •  
    • $3,000
    • $0.84
    •  
  • 4452 Summers Shade Street Las Vegas, NV 5
    • 6 beds 5 baths ∙ 3,459 Sqft ∙ Built 1996 6 beds 5 baths ∙ 3,459 Sqft ∙ Built 1996
    LEASED 05/20/19
    • Rent
    • Rent Per SQFT
    •  
    • $3,250
    • $0.94
    •  
PROPERTY LISTING DETAILS
Noah Bates
1.702.551.4381
Rustic Properties
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2246383
Last Updated: 11/06/2020
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