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4632 Stearman Drive North Las Vegas, NV 89031

4 Beds 3 Baths 2,099 sqft Built 1993

$334,500

List Price

$1,550

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

November 13, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1993
  • Price/Sqft : $159.36
  • 4 Days on Market
  • MLS # : 2246670
  • Updated Date : 11/13/2020 at 12:17
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,099 sqft
  • Baths : 2 full , 1 half
Listing Agent

Swg Realty Group

Listing Agent's Description

Beautiful 2 Story/ 4 Bedroom Single Family Home in North Las Vegas with a Pool and 3 Car Garage! High Ceilings Throughout. Desert Landscaping in Front Yard and Back Yard. Covered Patio with Ceiling Fan in Backyard. Granite Countertops with Matching Backsplash in Kitchen. Dual Sink with Separate Shower and Tub in Master Bath. Vaulted ceilings upon entry pouring in natural light! Guest Bathroom has Dual Sinks. Natural Light Through Front Room. Roof was done less than a year ago. Air Conditioning is less than 2 years old and was done in 2018. Sparkling Pool!

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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)

PRICE & RENT TRENDS

Neighborhood: Skyview North

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260k280kPrice in $84k298k

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

Neighborhood: Skyview North

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
 

$301,050$367,950$334,500

PURCHASE PRICE

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

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,550
EXPENSES Loan Payment -$1,234
Property Tax -$240
Property Insurance -$68
Property Management Fees -$119
CASH FLOW
-$111

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.

$334,500

PROJECTED PRICE

$1,550

PROJECTED RENT

0.46%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.75%
Appreciation Year (1-5) 10.8%
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

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$94,393

INVESTMENT

$94,393

Down Payment
$83,625
Rehab Estimate
$5,750
Closing Costs
$5,018

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,234

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $83,625
Loan Amount $250,875
See What Happens When You Reinvest Cash Flow

3.92

YEARS SAVED

$13,496

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
  • $0.74

    LIST RENT PER SQFT
  • $1,637

    COMP ESTIMATED VALUE
  • $0.78

    COMP AVG. RENT PER SQFT
Comps Range
$1,450
1$1,4502$1,5003$1,5504$1,6505$1,699
$1,699
RENT COMPS ANALYSIS
  • 4632 Stearman Drive North Las Vegas, NV 3
    • 4 beds 3 baths ∙ 2,099 Sqft ∙ Built 1993 4 beds 3 baths ∙ 2,099 Sqft ∙ Built 1993
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $0.74
    •  
  • 3109 Aristotle Avenue #0 North Las Vegas, NV 1
    • 3 beds 2 baths ∙ 1,943 Sqft ∙ Built 1996 3 beds 2 baths ∙ 1,943 Sqft ∙ Built 1996
    LEASED 01/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $0.75
    •  
  • 4109 Karma Drive #none North Las Vegas, NV 2
    • 4 beds 2 baths ∙ 1,915 Sqft ∙ Built 2005 4 beds 2 baths ∙ 1,915 Sqft ∙ Built 2005
    LEASED 10/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $0.78
    •  
  • 4213 Capri Canyon Court North Las Vegas, NV 4
    • 3 beds 3 baths ∙ 2,008 Sqft ∙ Built 2003 3 beds 3 baths ∙ 2,008 Sqft ∙ Built 2003
    LEASED 03/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.82
    •  
  • 4516 Ryder Lane North Las Vegas, NV 5
    • 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
    •  
PROPERTY LISTING DETAILS
Casey Ryan
1.702.824.7270
Swg Realty Group
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2246670
Last Updated: 11/13/2020
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