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4537 Colonial Canyon Street North Las Vegas, NV 89031

4 Beds 3 Baths 2,344 sqft Built 2004

$380,000

List Price

$1,690

$1.5K - $1.9K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 20, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2004
  • Price/Sqft : $162.12
  • 3 Days on Market
  • MLS # : 2279938
  • Updated Date : 03/20/2021 at 00:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,344 sqft
  • Baths : 3 full
Listing Agent

Elite Realty

Listing Agent's Description

WELCOME HOME! Beautiful, Open and Airy, Move-in ready Single story floorpan with 4 bedrooms and 3 Baths. RV Gate entry in the backyard and covered patio. This home is a must see.

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
Addeliar Guy Elementary School Primary Regular 641 35 5
Theron L. Swainston Middle School Middle Regular 1,146 52 NA
Cheyenne High School High Regular 2,212 91 2

Addeliar Guy Elementary School

  • Education Level: Primary
  • # of students: 641
  • # of teachers: 35
5
GreatSchools Rating

Theron L. Swainston Middle School

  • Education Level: Middle
  • # of students: 1,146
  • # of teachers: 52
NA
GreatSchools Rating

Cheyenne High School

  • Education Level: High
  • # of students: 2,212
  • # of teachers: 91
2
GreatSchools Rating
 

$342,000$418,000$380,000

PURCHASE PRICE

$1,521$1,859$1,690

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,690
EXPENSES Loan Payment -$1,320
Property Tax -$287
Property Insurance -$73
Property Management Fees -$119
CASH FLOW
-$108

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.

$380,000

PROJECTED PRICE

$1,690

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) 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

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$106,450

INVESTMENT

$106,450

Down Payment
$95,000
Rehab Estimate
$5,750
Closing Costs
$5,700

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$1,320

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $95,000
Loan Amount $285,000
See What Happens When You Reinvest Cash Flow

3.92

YEARS SAVED

$12,967

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,690

    LIST RENT
  • $0.72

    LIST RENT PER SQFT
  • $1,781

    COMP ESTIMATED VALUE
  • $0.76

    COMP AVG. RENT PER SQFT
Comps Range
$1,550
1$1,5502$1,6903$1,6994$1,7005$1,790
$1,790
RENT COMPS ANALYSIS
  • 4537 Colonial Canyon Street North Las Vegas, NV 2
    • 4 beds 3 baths ∙ 2,344 Sqft ∙ Built 2004 4 beds 3 baths ∙ 2,344 Sqft ∙ Built 2004
    • Rent
    • Rent Per SQFT
    •  
    • $1,690
    • $0.72
    •  
  • 4519 Windham Hills Lane North Las Vegas, NV 1
    • 4 beds 3 baths ∙ 2,211 Sqft ∙ Built 2003 4 beds 3 baths ∙ 2,211 Sqft ∙ Built 2003
    LEASED 03/12/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $0.70
    •  
  • 4516 Ryder Lane North Las Vegas, NV 3
    • 3 beds 2 baths ∙ 2,216 Sqft ∙ Built 1990 3 beds 2 baths ∙ 2,216 Sqft ∙ Built 1990
    LEASED 09/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,699
    • $0.77
    •  
  • 5020 Pioneer Scout Street North Las Vegas, NV 4
    • 4 beds 3 baths ∙ 2,153 Sqft ∙ Built 2014 4 beds 3 baths ∙ 2,153 Sqft ∙ Built 2014
    LEASED 01/02/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $0.79
    •  
  • 4515 Cradle Cliff Street North Las Vegas, NV 5
    • 3 beds 3 baths ∙ 2,287 Sqft ∙ Built 2019 3 beds 3 baths ∙ 2,287 Sqft ∙ Built 2019
    LEASED 02/04/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,790
    • $0.78
    •  
PROPERTY LISTING DETAILS
Beverly Jordan
1.702.271.9598
Elite Realty
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2279938
Last Updated: 03/20/2021
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