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4507 Creekside Cavern Avenue North Las Vegas, NV 89084

5 Beds 1 Baths 2,787 sqft Built 2019

$474,987

List Price

$1,940

$1.7K - $2.1K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
February 25, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2019
  • Price/Sqft : $170.43
  • 6 Days on Market
  • MLS # : 2272510
  • Updated Date : 02/25/2021 at 02:00
CONSTRUCTION
  • Beds : 5
  • Floor Size : 2,787 sqft
  • Baths : 1 full
Listing Agent

Realty One Group, Inc

Listing Agent's Description

LIKE NEW AND ABSOLUTELY GORGEOUS 5 Bedroom +Loft 3 Bath Home in DR Horton's Gemini Pointe Located in North Las Vegas! Neutral Decor & Colors! One Bedroom and 3/4 Bath Downstairs! Gourmet Eat-in Kitchen Featuring Granite Countertops, Center Island, Soft Close Custom Cabinetry, Pantry and Stainless Steel Appliances With Open Concept to Living Room...Perfect for Entertaining! 4 Large Bedrooms + Loft Upstairs! Spacious Primary Bedroom & Ensuite with Shower, Dual Sinks, Soft Close Cabinetry & Walk-in Closet! Full Length Covered Patio & Artificial Grass in the Backyard Makes for Low Maintenance! Plantation Shutters On Most All Windows & Tons of Storage Throughout! Convenient Laundry Room Upstairs! Gorgeous Stone Front Elevation on Exterior Front and Pavered Driveway! Smart Home Panel Controls Door Locks, Cameras, A/C & Lights! Ring Doorbell/Camera! Thermostats Are Touchscreen And Can Also Be Controlled With An App!

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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)

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
 

$427,488$522,486$474,987

PURCHASE PRICE

$1,746$2,134$1,940

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,940
EXPENSES Loan Payment -$1,650
Property Tax -$340
Property Insurance -$81
Property Management Fees -$119
CASH FLOW
-$250

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.

$474,987

PROJECTED PRICE

$1,940

PROJECTED RENT

0.41%

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) 8.00%
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$1.6M$1.8M

PROJECTED ANNUAL CASH FLOW

11530-$5.0k$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$1.4M$1.6M$1.8M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$131,622

INVESTMENT

$131,622

Down Payment
$118,747
Rehab Estimate
$5,750
Closing Costs
$7,125

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 60% down payment or higher enables the proceeds from the asset to cover all costs.

$1,650

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $118,747
Loan Amount $356,240
See What Happens When You Reinvest Cash Flow

2.58

YEARS SAVED

$9,369

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,940

    LIST RENT
  • $0.7

    LIST RENT PER SQFT
  • $1,923

    COMP ESTIMATED VALUE
  • $0.69

    COMP AVG. RENT PER SQFT
Comps Range
$1,795
1$1,7952$1,8953$1,9404$1,9525$2,150
$2,150
RENT COMPS ANALYSIS
  • 4507 Creekside Cavern Avenue North Las Vegas, NV 3
    • 5 beds 1 baths ∙ 2,787 Sqft ∙ Built 2019 5 beds 1 baths ∙ 2,787 Sqft ∙ Built 2019
    • Rent
    • Rent Per SQFT
    •  
    • $1,940
    • $0.70
    •  
  • 5041 Wild Buffalo Las Vegas, NV 1
    • 4 beds 3 baths ∙ 2,791 Sqft ∙ Built 2002 4 beds 3 baths ∙ 2,791 Sqft ∙ Built 2002
    LEASED 05/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,795
    • $0.64
    •  
  • 5048 Indigo Gorge Las Vegas, NV 2
    • 4 beds 3 baths ∙ 2,791 Sqft ∙ Built 2002 4 beds 3 baths ∙ 2,791 Sqft ∙ Built 2002
    LEASED 04/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,895
    • $0.68
    •  
  • 5773 Cowboy Fiddle Las Vegas, NV 4
    • 4 beds 3 baths ∙ 2,902 Sqft ∙ Built 2003 4 beds 3 baths ∙ 2,902 Sqft ∙ Built 2003
    LEASED 06/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,952
    • $0.67
    •  
  • 8101 Calico Wind Street Las Vegas, NV 5
    • 4 beds 3 baths ∙ 2,791 Sqft ∙ Built 2003 4 beds 3 baths ∙ 2,791 Sqft ∙ Built 2003
    LEASED 01/02/21
    • Rent
    • Rent Per SQFT
    •  
    • $2,150
    • $0.77
    •  
PROPERTY LISTING DETAILS
Merri Perry
1.702.219.2585
Realty One Group, Inc
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2272510
Last Updated: 02/25/2021
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