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4605 Longshot Drive Las Vegas, NV 89122

3 Beds 3 Baths 2,183 sqft Built 2008

INVESTimate

$305,000

List Price

$1,550

$1,395 - $1,705

Rent Est.

$343,369  ( +12.58%)   1 YR EST. FORECAST

PROPERTY INFO

FACTS
  • Built In 2008
  • Price/Sqft : $139.72
  • 9 Days on Market
  • MLS # : 2223063
  • Updated Date : 08/22/2020 at 16:03
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,183 sqft
  • Baths : 2 full , 1 half
Listing Agent

Winning Realty

Listing Agent's Description

Beautiful 2 Story home in gated community!!! This home features an open floor plan, 3 spacious bedrooms, 2 bathrooms upstairs & a half bathroom downstairs. Granite kitchen counters, 1st floor and wet areas all tiles and living and dining are wood looking tiles also has pool size yard and 2 Car attached garage very long diveway can fit 4 more cars. * * * * HOME QUALIFIES FOR 0% DOWN AND UP TO $7,500 CLOSING COST CREDIT * * * * * *

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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: Whitney

NeighborhoodNIR Market*CityMarket2010Year2000201980k100k120k140k160k180k200k220k240k260k280kPrice in $75k296k

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

Neighborhood: Whitney

NeighborhoodNIR Market*CityMarket2010Year20002019 Q29501000105011001150120012501300135014001450150015501600Rent in $9301603

* 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
Sister Robert Joseph Bailey Elementary School Primary Regular 839 46 4
Francis Cortney Middle School Middle Regular 1,235 52 NA
Basic High School High Regular 2,367 100 3

Sister Robert Joseph Bailey Elementary School

  • Education Level: Primary
  • # of students: 839
  • # of teachers: 46
4
GreatSchools Rating

Francis Cortney Middle School

  • Education Level: Middle
  • # of students: 1,235
  • # of teachers: 52
NA
GreatSchools Rating

Basic High School

  • Education Level: High
  • # of students: 2,367
  • # of teachers: 100
3
GreatSchools Rating
 

$274,500$335,500$305,000

PURCHASE PRICE

$1,395$1,705$1,550

RENT

DOWN PAYMENT
FINANCING

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$200k$400k$600k$800k$1.0M$1.2M

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,550
EXPENSES Loan Payment -$1,125
Property Tax -$235
Property Insurance -$69
HOA -$70
Property Management Fees -$119
CASH FLOW
-$69

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.

$305,000

PROJECTED PRICE

$1,550

PROJECTED RENT

0.51%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.75%
Appreciation Year (1-5) 12.58%
Maintenance Year (1-5) 8.00%
Vacancy 8.50%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$86,575

INVESTMENT

$86,575

Down Payment
$76,250
Rehab Estimate
$5,750
Closing Costs
$4,575

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,125

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $76,250
Loan Amount $228,750
See What Happens When You Reinvest Cash Flow

4.25

YEARS SAVED

$13,852

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,550

    LIST RENT
  • $0.71

    LIST RENT PER SQFT
  • $1,768

    COMP ESTIMATED VALUE
  • $0.81

    COMP AVG. RENT PER SQFT
Comps Range
$1,550
1$1,5502$1,5503$1,5954$1,6505$1,810
$1,810
RENT COMPS ANALYSIS
  • 4605 Longshot Drive Las Vegas, NV 2
    • 3 beds 3 baths ∙ 2,183 Sqft ∙ Built 2008 3 beds 3 baths ∙ 2,183 Sqft ∙ Built 2008
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $0.71
    •  
  • 4851 Longshot Drive Las Vegas, NV 1
    • 4 beds 3 baths ∙ 1,984 Sqft ∙ Built 2007 4 beds 3 baths ∙ 1,984 Sqft ∙ Built 2007
    property image
    LEASED 01/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $0.78
    •  
  • 5650 Lucky Draw Court Las Vegas, NV 3
    • 4 beds 3 baths ∙ 1,984 Sqft ∙ Built 2009 4 beds 3 baths ∙ 1,984 Sqft ∙ Built 2009
    property image
    LEASED 08/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $0.80
    •  
  • 5660 Low Stakes Court Las Vegas, NV 4
    • 4 beds 3 baths ∙ 1,984 Sqft ∙ Built 2007 4 beds 3 baths ∙ 1,984 Sqft ∙ Built 2007
    property image
    LEASED 02/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.83
    •  
  • 4715 Longshot Drive Las Vegas, NV 5
    • 3 beds 3 baths ∙ 2,183 Sqft ∙ Built 2007 3 beds 3 baths ∙ 2,183 Sqft ∙ Built 2007
    property image
    LEASED 06/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,810
    • $0.83
    •  
PROPERTY LISTING DETAILS
Mark L Yap
1.702.561.7221
Winning Realty
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2223063
Last Updated: 08/22/2020
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