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4426 Sparta Way 
North Las Vegas, NV
89032
3 Beds 2 Baths 1,676 sqft
Built 1991
INVESTimate
$279,900
List Price
$79,924
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PROPERTY INFO
FACTS
- Built In 1991
- Price/Sqft : $167.00
- 3 Days on Market
- MLS # : 2224356
- Updated Date : 08/25/2020 at 20:29
CONSTRUCTION
- Beds : 3
- Floor Size : 1,676 sqft
- Baths : 2 full
Listing Agent
King Realty Group
Listing Agent's Description
Beautiful single story Good sized back yard with a covered patio and RV or boat parking, Built-In barbecue and beautiful landscaping, all appliances stay
SEE MORE
- 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: Vista del Sol
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: Vista del Sol
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
PROJECTED ACCUMULATED WEALTH
30 YEAR PROJECTION
- Cash Flow
- Appreciation
- Principal
PROJECTED ANNUAL CASH FLOW
PROJECTED PROPERTY VALUE
30 YEAR PROJECTION
- Appreciation
- Principal
- Loan Balance
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $1,310 |
| EXPENSES | Loan Payment | -$1,033 |
| Property Tax | -$195 | |
| Property Insurance | -$60 | |
| Property Management Fees | -$119 | |
|
CASH FLOW
-$96
|
||
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.
$279,900
PROJECTED PRICE
$1,310
PROJECTED RENT
0.47%
PROJECTED RENT / PRICE RATIO
| Expense Inflation | 2.50% |
| Rental Growth Year (1-5) | 3.75% |
| Appreciation Year (1-5) | 11.10% |
| Maintenance Year (1-5) | 8.00% |
| Vacancy | 8.50% |
| Length of Stay Years | 2 |
TOTAL CASH OUT OF POCKET
INVESTMENT
$79,924
LOAN DETAILS
$1,033
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 4.25% |
| Down Payment | $69,975 |
| Loan Amount | $209,925 |
3.92
YEARS SAVED
$11,243
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$1,310
LIST RENT -
$0.78
LIST RENT PER SQFT
-
$1,379
COMP ESTIMATED VALUE -
$0.82
COMP AVG. RENT PER SQFT
Comps Range
-
4426 Sparta Way North Las Vegas, NV 1
- 3 beds 2 baths ∙ 1,676 Sqft ∙ Built 1991 3 beds 2 baths ∙ 1,676 Sqft ∙ Built 1991
- Rent
- Rent Per SQFT
- $1,310
- $0.78
-
3641 Bordley Way North Las Vegas, NV 2
- 3 beds 2 baths ∙ 1,725 Sqft ∙ Built 1993 3 beds 2 baths ∙ 1,725 Sqft ∙ Built 1993
LEASED 01/31/20- Rent
- Rent Per SQFT
- $1,350
- $0.78
-
3442 Dapple Drive North Las Vegas, NV 3
- 3 beds 2 baths ∙ 1,718 Sqft ∙ Built 1995 3 beds 2 baths ∙ 1,718 Sqft ∙ Built 1995
LEASED 02/24/20- Rent
- Rent Per SQFT
- $1,395
- $0.81
-
4607 Erica Drive North Las Vegas, NV 4
- 3 beds 2 baths ∙ 1,660 Sqft ∙ Built 1995 3 beds 2 baths ∙ 1,660 Sqft ∙ Built 1995
LEASED 02/15/20- Rent
- Rent Per SQFT
- $1,425
- $0.86
-
4628 Denali North Las Vegas, NV 5
- 4 beds 1 baths ∙ 1,788 Sqft ∙ Built 1995 4 beds 1 baths ∙ 1,788 Sqft ∙ Built 1995
LEASED 04/08/20- Rent
- Rent Per SQFT
- $1,495
- $0.84
PROPERTY LISTING DETAILS
1.702.250.2054
King Realty Group
1.866.250.5610
Mynd Property Management
1453579
MLS #: 2224356
Last Updated: 08/25/2020
