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4411 Melrose Abbey Place Las Vegas, NV 89141

4 Beds 3 Baths 3,651 sqft Built 2006

$620,000

List Price

$3,340

$3.1K - $3.6K

Rent Est.

PROPERTY INFO

February 12, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2006
  • Price/Sqft : $169.82
  • 4 Days on Market
  • MLS # : 2269057
  • Updated Date : 02/12/2021 at 20:08
CONSTRUCTION
  • Beds : 4
  • Floor Size : 3,651 sqft
  • Baths : 2 full , 1 half
Listing Agent

One Stop Realty

Listing Agent's Description

Famous Royal Highlands guards gated community in Southern Highlands Master Plan. A lovely luxury one-story home with a basement. Multi-level ceiling with roman column and beam. Formal dining room access with Europ style kitchen. Tiles on common area and walkway, carpet on bedrooms. Double door entry to the primary bedroom that can access to back yard thru the sliding door. 3 car garage, 4 bedrooms 2 & half bathrooms. A huge basement could be your entertainment center. Huge cover patio with the full width of the house. DON'T MISS IT!

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • As the largest share, Las Vegas metro contributes to 75.1% of Nevada state's economy i.e. Gross State Product (USMayors.org, 2018)

PRICE & RENT TRENDS

Neighborhood: Southern Highlands

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320k340k360k380k400kPrice in $119k410k

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

Neighborhood: Southern Highlands

NeighborhoodNIR Market*CityMarket2010Year20002019 Q211001200130014001500160017001800Rent in $10761875

* 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
Evelyn Stuckey Elementary School Primary Regular 949 46 8
Lois And Jerry Tarkanian Middle School Middle Regular 1,739 71 NA
Desert Oasis High School High Regular 2,417 102 5

Evelyn Stuckey Elementary School

  • Education Level: Primary
  • # of students: 949
  • # of teachers: 46
8
GreatSchools Rating

Lois And Jerry Tarkanian Middle School

  • Education Level: Middle
  • # of students: 1,739
  • # of teachers: 71
NA
GreatSchools Rating

Desert Oasis High School

  • Education Level: High
  • # of students: 2,417
  • # of teachers: 102
5
GreatSchools Rating
 

$558,000$682,000$620,000

PURCHASE PRICE

$3,006$3,674$3,340

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,340
EXPENSES Loan Payment -$2,153
Property Tax -$444
Property Insurance -$98
Property Management Fees -$119
CASH FLOW
$526

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.

$620,000

PROJECTED PRICE

$3,340

PROJECTED RENT

0.54%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.05%
Appreciation Year (1-5) 8.0%
Maintenance Year (1-5) 8.00%
Vacancy 7.57%
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

PROJECTED ANNUAL CASH FLOW

11530$0.0$10k$20k$30k$40k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$170,050

INVESTMENT

$170,050

Down Payment
$155,000
Rehab Estimate
$5,750
Closing Costs
$9,300

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,153

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $155,000
Loan Amount $465,000
See What Happens When You Reinvest Cash Flow

10.33

YEARS SAVED

$94,210

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,340

    LIST RENT
  • $0.91

    LIST RENT PER SQFT
  • $3,386

    COMP ESTIMATED VALUE
  • $0.93

    COMP AVG. RENT PER SQFT
Comps Range
$2,950
1$2,9502$3,1003$3,3404$3,5005$3,650
$3,650
RENT COMPS ANALYSIS
  • 4411 Melrose Abbey Place Las Vegas, NV 3
    • 4 beds 3 baths ∙ 3,651 Sqft ∙ Built 2006 4 beds 3 baths ∙ 3,651 Sqft ∙ Built 2006
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $3,340
    • $0.91
    •  
  • 11210 Ethan Brook Street Las Vegas, NV 1
    • 5 beds 4 baths ∙ 3,338 Sqft ∙ Built 2007 5 beds 4 baths ∙ 3,338 Sqft ∙ Built 2007
    property image
    LEASED 12/10/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,950
    • $0.88
    •  
  • 164 Glenbrook Estates Drive Las Vegas, NV 2
    • 5 beds 4 baths ∙ 3,648 Sqft ∙ Built 2010 5 beds 4 baths ∙ 3,648 Sqft ∙ Built 2010
    property image
    LEASED 01/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,100
    • $0.85
    •  
  • 11562 Capanna Rosso Las Vegas, NV 4
    • 4 beds 4 baths ∙ 3,589 Sqft ∙ Built 2004 4 beds 4 baths ∙ 3,589 Sqft ∙ Built 2004
    property image
    LEASED 06/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,500
    • $0.98
    •  
  • 11079 Kilkerran Court Las Vegas, NV 5
    • 4 beds 3 baths ∙ 3,651 Sqft ∙ Built 2004 4 beds 3 baths ∙ 3,651 Sqft ∙ Built 2004
    property image
    LEASED 01/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,650
    • $1.00
    •  
PROPERTY LISTING DETAILS
Zion Cin
1.702.292.9222
One Stop Realty
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2269057
Last Updated: 02/12/2021
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