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PROPERTY INFO
FACTS
- Single Family
- Built In 1998
- Price/Sqft : $183.04
- 3 Days on Market
- MLS # : 2257718
- Updated Date : 12/26/2020 at 20:00
CONSTRUCTION
- Beds : 3
- Floor Size : 1,557 sqft
- Baths : 2 full
Listing Agent
Signature Real Estate Group
Listing Agent's Description
Beautiful 3 bed, 2 bath single story home with upgraded bathrooms, kitchen and flooring along with sitting across the street from tranquil good sized community park. This home has the rare "big 3" being 1 story, 3 car garage with NO HOA present. Fairly close proximity to shopping, amenities and freeway access with the I 15 being just down Craig within minutes drive. Open single story floorplan with plenty of windows/lighting along with an open backyard that wraps from one side of the home to the other. Stressing again there is NO HOA present with this home also containing a good sized 3 car garage. Upgraded kitchen with granite countertops to start and a master bathroom with separate "his and her" sinks are a must see with wood flooring throughout the home also already in place. Master bedroom on opposite side of home from other 2 rooms allowing extensive privacy for whoever may get the big room. Opinion wise it would be possible to add a pool or side RV parking/entry as well.
SEE MORE
- 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: Cobblestone Ridge
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: Cobblestone Ridge
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $1,470 |
| EXPENSES | Loan Payment | -$1,052 |
| Property Tax | -$212 | |
| Property Insurance | -$57 | |
| Property Management Fees | -$119 | |
|
CASH FLOW
$30
|
||
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.
$285,000
PROJECTED PRICE
$1,470
PROJECTED RENT
0.52%
PROJECTED RENT / PRICE RATIO
| Expense Inflation | 2.50% |
| Rental Growth Year (1-5) | 3.75% |
| Appreciation Year (1-5) | 11.6% |
| Maintenance Year (1-5) | 8.00% |
| Vacancy | 8.50% |
| Length of Stay Years | 2 |
PROJECTED ACCUMULATED WEALTH
30 YEAR PROJECTION
- Cash Flow
- Appreciation
- Principal
PROJECTED ANNUAL CASH FLOW
PROJECTED PROPERTY VALUE
30 YEAR PROJECTION
- Appreciation
- Principal
- Loan Balance
TOTAL CASH OUT OF POCKET
INVESTMENT
$81,275
LOAN DETAILS
$1,052
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 4.25% |
| Down Payment | $71,250 |
| Loan Amount | $213,750 |
6.17
YEARS SAVED
$22,507
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$1,470
LIST RENT -
$0.94
LIST RENT PER SQFT
-
$1,331
COMP ESTIMATED VALUE -
$0.86
COMP AVG. RENT PER SQFT
Comps Range
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- 3 beds 2 baths ∙ 1,557 Sqft ∙ Built 1998 3 beds 2 baths ∙ 1,557 Sqft ∙ Built 1998
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- Rent
- Rent Per SQFT
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4518 Testarossa Lane North Las Vegas, NV 1
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LEASED 06/01/20- Rent
- Rent Per SQFT
- $1,095
- $0.81
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4928 Sapphire Light Street #- North Las Vegas, NV 2
- 3 beds 3 baths ∙ 1,542 Sqft ∙ Built 2001 3 beds 3 baths ∙ 1,542 Sqft ∙ Built 2001
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LEASED 01/16/20- Rent
- Rent Per SQFT
- $1,350
- $0.88
-
4641 Gravel Rock Street North Las Vegas, NV 3
- 3 beds 3 baths ∙ 1,555 Sqft ∙ Built 1997 3 beds 3 baths ∙ 1,555 Sqft ∙ Built 1997
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LEASED 01/24/20- Rent
- Rent Per SQFT
- $1,400
- $0.90
-
4935 Stormy Ridge Street Las Vegas, NV 4
- 4 beds 2 baths ∙ 1,750 Sqft ∙ Built 2001 4 beds 2 baths ∙ 1,750 Sqft ∙ Built 2001
![property image]()
LEASED 04/24/20- Rent
- Rent Per SQFT
- $1,450
- $0.83
PROPERTY LISTING DETAILS
1.702.494.7060
Signature Real Estate Group
1.866.250.5610
Mynd Property Management
1453579
MLS #: 2257718
Last Updated: 12/26/2020
