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4524 Creekside Cavern Avenue North Las Vegas, NV 89084

5 Beds 3 Baths 2,950 sqft Built 2019

$449,000

List Price

$1,990

$1.8K - $2.2K

Rent Est.

PROPERTY INFO

Built 2019 NEW CONSTRUCTION
December 18, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2019
  • Price/Sqft : $152.20
  • 4 Days on Market
  • MLS # : 2255597
  • Updated Date : 12/17/2020 at 22:30
CONSTRUCTION
  • Beds : 5
  • Floor Size : 2,950 sqft
  • Baths : 3 full
Listing Agent

Platinum R.e. Professionals

Listing Agent's Description

WHOA NELLY! RARE FIND JUST UNDER 3000 FEET AT LESS THAN 155 A FOOT! MASSIVE HOME SHORTAGE! THIS HOME IS JUST LIKE A MODEL HARDLY LIVED IN THOUSANDS IN UPGRADES! Beautiful entry way leads you to nice open floor plan with gourmet like kitchen with sparkling granites and upgraded cabinets that overlooks the entertainment room. Take a stroll out back and create your own mini oasis on huge lot. The second floor boast of huge penthouse like master with spa like master bathroom. Large secondary bedrooms. Plantation shutters through out. This is a perfect next gen home. A CALIFORNIA EXODUS FAVORITE DONT DELAY CLICK TODAY

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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
 

$404,100$493,900$449,000

PURCHASE PRICE

$1,791$2,189$1,990

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,990
EXPENSES Loan Payment -$1,657
Property Tax -$345
Property Insurance -$84
Property Management Fees -$119
CASH FLOW
-$215

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.

$449,000

PROJECTED PRICE

$1,990

PROJECTED RENT

0.44%

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$1.6M

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$120,985

INVESTMENT

$120,985

Down Payment
$112,250
Rehab Estimate
$2,000
Closing Costs
$6,735

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 50% down payment or higher enables the proceeds from the asset to cover all costs.

$1,657

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $112,250
Loan Amount $336,750
See What Happens When You Reinvest Cash Flow

3.08

YEARS SAVED

$12,966

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,990

    LIST RENT
  • $0.67

    LIST RENT PER SQFT
  • $1,954

    COMP ESTIMATED VALUE
  • $0.66

    COMP AVG. RENT PER SQFT
Comps Range
$1,795
1$1,7952$1,8503$1,8954$1,9905$2,015
$2,015
RENT COMPS ANALYSIS
  • 4524 Creekside Cavern Avenue North Las Vegas, NV 4
    • 5 beds 3 baths ∙ 2,950 Sqft ∙ Built 2019 5 beds 3 baths ∙ 2,950 Sqft ∙ Built 2019
    • Rent
    • Rent Per SQFT
    •  
    • $1,990
    • $0.67
    •  
  • 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
    •  
  • 5408 Whisper Lake Avenue Las Vegas, NV 2
    • 5 beds 3 baths ∙ 3,085 Sqft ∙ Built 2001 5 beds 3 baths ∙ 3,085 Sqft ∙ Built 2001
    LEASED 03/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $0.60
    •  
  • 5048 Indigo Gorge Las Vegas, NV 3
    • 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
    •  
  • 4714 Prairie Coach Avenue #0 North Las Vegas, NV 5
    • 5 beds 3 baths ∙ 2,757 Sqft ∙ Built 2012 5 beds 3 baths ∙ 2,757 Sqft ∙ Built 2012
    LEASED 05/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,015
    • $0.73
    •  
PROPERTY LISTING DETAILS
Steve P Hawks
1.702.617.4637
Platinum R.e. Professionals
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2255597
Last Updated: 12/17/2020
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