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4641 Riva De Romanza Street Las Vegas, NV 89135

2 Beds 3 Baths 2,234 sqft Built 2003

$649,900

List Price

$2,790

$2.5K - $3K

Rent Est.

PROPERTY INFO

February 13, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2003
  • Price/Sqft : $290.91
  • 4 Days on Market
  • MLS # : 2269912
  • Updated Date : 02/14/2021 at 01:53
CONSTRUCTION
  • Beds : 2
  • Floor Size : 2,234 sqft
  • Baths : 2 full , 1 half
Listing Agent

Re/max Central

Listing Agent's Description

Lightly Used Vacation Home, on a Quiet Street, in the Premier Age Privileged Community of Siena in South Summerlin. Located On the 10th Hole of Siena Golf Course over Your Own Private Pool/Spa, a Panoramic View of the Sierra Nevada Mountains with the Siena Community & Fitness Centers just minutes away. This Meticulously Maintained Home is Entertainers Delight with the Open Floor Plan That Includes Easy Access from the Kitchen to the Living Room, Great Room & Dining Areas. This Very Popular Model is designed With Dual Master Suites that have their Own Private Master Baths. There is a Separate Half Bath for Guests.

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • As the largest share, Las Vegas metro contributes to 75.1% of Nevada state's economy i.e. Gross State Product (USMayors.org, 2018)

PRICE & RENT TRENDS

Neighborhood: Siena

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320k340k360k380k400k420kPrice in $119k432k

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

Neighborhood: Siena

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21100120013001400150016001700180019002000210022002300Rent in $10762324

* 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
Judy And John Goolsby Elementary School Primary Regular 807 42 10
Victoria Fertitta Middle School Middle Regular 1,472 60 NA
Durango High School High Regular 2,302 95 5

Judy And John Goolsby Elementary School

  • Education Level: Primary
  • # of students: 807
  • # of teachers: 42
10
GreatSchools Rating

Victoria Fertitta Middle School

  • Education Level: Middle
  • # of students: 1,472
  • # of teachers: 60
NA
GreatSchools Rating

Durango High School

  • Education Level: High
  • # of students: 2,302
  • # of teachers: 95
5
GreatSchools Rating
 

$584,910$714,890$649,900

PURCHASE PRICE

$2,511$3,069$2,790

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,790
EXPENSES Loan Payment -$2,257
Property Tax -$385
Property Insurance -$70
Property Management Fees -$119
CASH FLOW
-$42

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 16% of earned rent to cover both maintenance and periods of vacancy.

$649,900

PROJECTED PRICE

$2,790

PROJECTED RENT

0.43%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.05%
Appreciation Year (1-5) 6.7%
Maintenance Year (1-5) 8.00%
Vacancy 7.57%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$500k$1.0M$1.5M$2.0M

PROJECTED ANNUAL CASH FLOW

11530-$5.0k$0.0$5.0k$10k$15k$20k$25k$30k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$500k$1.0M$1.5M$2.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$177,974

INVESTMENT

$177,974

Down Payment
$162,475
Rehab Estimate
$5,750
Closing Costs
$9,749

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 50% down payment or higher enables the proceeds from the asset to cover all costs.

$2,257

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $162,475
Loan Amount $487,425
See What Happens When You Reinvest Cash Flow

5.5

YEARS SAVED

$39,752

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,790

    LIST RENT
  • $1.25

    LIST RENT PER SQFT
  • $2,379

    COMP ESTIMATED VALUE
  • $1.07

    COMP AVG. RENT PER SQFT
Comps Range
$2,250
1$2,2502$2,3953$2,4004$2,4205$2,790
$2,790
RENT COMPS ANALYSIS
  • 4641 Riva De Romanza Street Las Vegas, NV 5
    • 2 beds 3 baths ∙ 2,234 Sqft ∙ Built 2003 2 beds 3 baths ∙ 2,234 Sqft ∙ Built 2003
    • Rent
    • Rent Per SQFT
    •  
    • $2,790
    • $1.25
    •  
  • 10307 Rio De Thule Lane Las Vegas, NV 1
    • 2 beds 3 baths ∙ 2,084 Sqft ∙ Built 2005 2 beds 3 baths ∙ 2,084 Sqft ∙ Built 2005
    LEASED 09/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,250
    • $1.08
    •  
  • 10439 Luna Magico Avenue Las Vegas, NV 2
    • 2 beds 2 baths ∙ 2,288 Sqft ∙ Built 2003 2 beds 2 baths ∙ 2,288 Sqft ∙ Built 2003
    LEASED 12/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,395
    • $1.05
    •  
  • 10366 Premia Place Las Vegas, NV 3
    • 2 beds 3 baths ∙ 2,216 Sqft ∙ Built 2004 2 beds 3 baths ∙ 2,216 Sqft ∙ Built 2004
    LEASED 09/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,400
    • $1.08
    •  
  • 4263 Fiore Bella Las Vegas, NV 4
    • 2 beds 3 baths ∙ 2,309 Sqft ∙ Built 2001 2 beds 3 baths ∙ 2,309 Sqft ∙ Built 2001
    LEASED 07/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,420
    • $1.05
    •  
PROPERTY LISTING DETAILS
Mary L Kennedy
1.702.324.5390
Re/max Central
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2269912
Last Updated: 02/14/2021
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