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4447 Shimmer Point Avenue #lot 298 #Lot 298 Las Vegas, NV 89084

4 Beds 3 Baths 1,836 sqft Built 2020

$357,990

List Price

$1,680

$1.5K - $1.8K

Rent Est.

PROPERTY INFO

Built 2020 NEW CONSTRUCTION
February 13, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2020
  • Price/Sqft : $194.98
  • 2 Days on Market
  • MLS # : 2270065
  • Updated Date : 02/13/2021 at 22:27
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,836 sqft
  • Baths : 2 full , 1 half
Listing Agent

D R Horton Inc

Listing Agent's Description

New construction home by DR Horton, backed by fortune 500 Company, DRAMITIC 2 STORY ENTRY WAY 36" cabinets, granite countertops@ kitchen and vanities, stainless steel microwave/stove/dishwasher undermount single bowl kitchen sink. Two tone interior paint, insulated garage door with remotes, paver driveway and walkways, pre-plumb soft water loop, smart home pkg and so much more! May move-in! "HUGE CORNER POOL SIZE BACK YARDS" THIS ONE BACKS UP TO THE WALKING TRAILS

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: 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
 

$322,191$393,789$357,990

PURCHASE PRICE

$1,512$1,848$1,680

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,680
EXPENSES Loan Payment -$1,243
Property Tax -$257
Property Insurance -$63
Property Management Fees -$119
CASH FLOW
-$2

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 12% of earned rent to cover both maintenance and periods of vacancy.

$357,990

PROJECTED PRICE

$1,680

PROJECTED RENT

0.47%

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) 3.00%
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$96,867

INVESTMENT

$96,867

Down Payment
$89,498
Rehab Estimate
$2,000
Closing Costs
$5,370

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,243

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $89,498
Loan Amount $268,493
See What Happens When You Reinvest Cash Flow

5.33

YEARS SAVED

$20,000

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,680

    LIST RENT
  • $0.92

    LIST RENT PER SQFT
  • $1,625

    COMP ESTIMATED VALUE
  • $0.89

    COMP AVG. RENT PER SQFT
Comps Range
$1,500
1$1,5002$1,5253$1,6754$1,6805$1,700
$1,700
RENT COMPS ANALYSIS
  • 4447 Shimmer Point Avenue #lot 298 Las Vegas, NV 4
    • 4 beds 3 baths ∙ 1,836 Sqft ∙ Built 2020 4 beds 3 baths ∙ 1,836 Sqft ∙ Built 2020
    • Rent
    • Rent Per SQFT
    •  
    • $1,680
    • $0.92
    •  
  • 4452 Penguin Avenue North Las Vegas, NV 1
    • 3 beds 3 baths ∙ 1,687 Sqft ∙ Built 2005 3 beds 3 baths ∙ 1,687 Sqft ∙ Built 2005
    LEASED 09/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $0.89
    •  
  • 4636 Grey Heron Drive #n/a North Las Vegas, NV 2
    • 3 beds 3 baths ∙ 1,815 Sqft ∙ Built 2005 3 beds 3 baths ∙ 1,815 Sqft ∙ Built 2005
    LEASED 02/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,525
    • $0.84
    •  
  • 7305 Glistening Star Street North Las Vegas, NV 3
    • 3 beds 3 baths ∙ 1,719 Sqft ∙ Built 2019 3 beds 3 baths ∙ 1,719 Sqft ∙ Built 2019
    LEASED 10/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,675
    • $0.97
    •  
  • 7312 Halo Falls Street North Las Vegas, NV 5
    • 3 beds 3 baths ∙ 2,014 Sqft ∙ Built 2019 3 beds 3 baths ∙ 2,014 Sqft ∙ Built 2019
    LEASED 11/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $0.84
    •  
PROPERTY LISTING DETAILS
Daxaben Bhakta
1.702.580.1623
D R Horton Inc
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2270065
Last Updated: 02/13/2021
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