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4577 Lime Straight Drive Las Vegas, NV 89115

4 Beds 3 Baths 1,762 sqft Built 2014

$243,500

List Price

$1,400

$1.3K - $1.5K

Rent Est.

PROPERTY INFO

January 02, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2014
  • Price/Sqft : $138.20
  • 5 Days on Market
  • MLS # : 2258636
  • Updated Date : 01/02/2021 at 00:28
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,762 sqft
  • Baths : 2 full , 1 half
Listing Agent

Trend Setters Realty

Listing Agent's Description

GATED COMMUNITY WITH POOL AND SPA . OPEN FLOOR PLAN WITH 4 BEDROOMS AND 2.5 BATHS

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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)

PRICE & RENT TRENDS

Neighborhood: Nellis Air Force Base

NeighborhoodNIR Market*CityMarket2010Year2000201980k100k120k140k160k180k200k220k240k260k280kPrice in $70k296k

* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR

Neighborhood: Nellis Air Force Base

NeighborhoodNIR Market*CityMarket2010Year20002019 Q28009001000110012001300140015001600Rent in $7961603

* 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
Mary And Zel Lowman Elementary School Primary Regular 804 35 3
Carroll M Johnston Middle School Middle Regular 1,365 58 NA
Mojave High School High Regular 2,311 103 2

Mary And Zel Lowman Elementary School

  • Education Level: Primary
  • # of students: 804
  • # of teachers: 35
3
GreatSchools Rating

Carroll M Johnston Middle School

  • Education Level: Middle
  • # of students: 1,365
  • # of teachers: 58
NA
GreatSchools Rating

Mojave High School

  • Education Level: High
  • # of students: 2,311
  • # of teachers: 103
2
GreatSchools Rating
 

$219,150$267,850$243,500

PURCHASE PRICE

$1,260$1,540$1,400

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,400
EXPENSES Loan Payment -$898
Property Tax -$185
Property Insurance -$61
Property Management Fees -$119
CASH FLOW
$136

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.

$243,500

PROJECTED PRICE

$1,400

PROJECTED RENT

0.57%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.75%
Appreciation Year (1-5) 7.6%
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

PROJECTED ANNUAL CASH FLOW

11530$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k$16k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k$700k$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$70,278

INVESTMENT

$70,278

Down Payment
$60,875
Rehab Estimate
$5,750
Closing Costs
$3,653

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 40% down payment or higher enables the proceeds from the asset to cover all costs.

$898

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $60,875
Loan Amount $182,625
See What Happens When You Reinvest Cash Flow

8.33

YEARS SAVED

$30,347

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,400

    LIST RENT
  • $0.79

    LIST RENT PER SQFT
  • $1,414

    COMP ESTIMATED VALUE
  • $0.8

    COMP AVG. RENT PER SQFT
Comps Range
$1,295
1$1,2952$1,3993$1,4004$1,4005$1,450
$1,450
RENT COMPS ANALYSIS
  • 4577 Lime Straight Drive Las Vegas, NV 4
    • 4 beds 3 baths ∙ 1,762 Sqft ∙ Built 2014 4 beds 3 baths ∙ 1,762 Sqft ∙ Built 2014
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,400
    • $0.79
    •  
  • 4127 Sandy Breeze Lane Las Vegas, NV 1
    • 4 beds 3 baths ∙ 1,702 Sqft ∙ Built 2016 4 beds 3 baths ∙ 1,702 Sqft ∙ Built 2016
    property image
    LEASED 01/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,295
    • $0.76
    •  
  • 5143 Silica Chalk Las Vegas, NV 2
    • 4 beds 4 baths ∙ 1,874 Sqft ∙ Built 2013 4 beds 4 baths ∙ 1,874 Sqft ∙ Built 2013
    property image
    LEASED 05/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,399
    • $0.75
    •  
  • 4779 Valmark Drive Las Vegas, NV 3
    • 4 beds 3 baths ∙ 1,702 Sqft ∙ Built 2014 4 beds 3 baths ∙ 1,702 Sqft ∙ Built 2014
    property image
    LEASED 11/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,400
    • $0.82
    •  
  • 4581 Lime Straight Drive Las Vegas, NV 5
    • 4 beds 3 baths ∙ 1,645 Sqft ∙ Built 2014 4 beds 3 baths ∙ 1,645 Sqft ∙ Built 2014
    property image
    LEASED 02/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $0.88
    •  
PROPERTY LISTING DETAILS
James E Terrell
1.702.630.6630
Trend Setters Realty
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2258636
Last Updated: 01/02/2021
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