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4645 Cimarron Road Las Vegas, NV 89129

6 Beds 3 Baths 3,172 sqft Built 1988

$599,900

List Price

$2,480

$2.2K - $2.7K

Rent Est.

PROPERTY INFO

January 21, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1988
  • Price/Sqft : $189.12
  • 5 Days on Market
  • MLS # : 2262622
  • Updated Date : 01/21/2021 at 03:30
CONSTRUCTION
  • Beds : 6
  • Floor Size : 3,172 sqft
  • Baths : 3 full
Listing Agent

O48 Realty

Listing Agent's Description

Welcome home!! This one owner home home has it all! Huge, private yard with grass, desert landscaping and fruit trees as well as 2 connected dog runs, and RV pkg., surrounded by single story homes. LR and DR right off entry with laminate flooring and high baseboards. Kitchen with custom cabinets, granite countertops, double ovens, microwave, tile flooring and large island opens to large nook w/cabinets and family room. Master bath w/double sinks and separate upgraded shower and tub. Hall bath with custom shower, vanity. Multi-gen area is off kitchen and has it's own new bath (double high vanity, custom shower) accessible from hallway or large bedroom ( the one with kitchenette and walk-in closet that has access to back yard through french doors). The 2nd bedroom has its own access door to driveway. Perfect for large growing family or in-law quarters. 3 separate AC units/zones. Huge garage w built-ins. Community well and septic. Internet through Centutrylink as no Cox here.

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: Lone Mountain

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320kPrice in $119k326k

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

Neighborhood: Lone Mountain

NeighborhoodNIR Market*CityMarket2010Year20002019 Q211001150120012501300135014001450150015501600Rent in $10701616

* 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
Dean Lamar Allen Elementary School Primary Regular 660 32 6
Justice M E Leavitt Middle School Middle Regular 1,496 64 NA
Centennial High School High Regular 3,055 124 6

Dean Lamar Allen Elementary School

  • Education Level: Primary
  • # of students: 660
  • # of teachers: 32
6
GreatSchools Rating

Justice M E Leavitt Middle School

  • Education Level: Middle
  • # of students: 1,496
  • # of teachers: 64
NA
GreatSchools Rating

Centennial High School

  • Education Level: High
  • # of students: 3,055
  • # of teachers: 124
6
GreatSchools Rating
 

$539,910$659,890$599,900

PURCHASE PRICE

$2,232$2,728$2,480

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,480
EXPENSES Loan Payment -$2,084
Property Tax -$339
Property Insurance -$89
Property Management Fees -$119
CASH FLOW
-$150

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.

$599,900

PROJECTED PRICE

$2,480

PROJECTED RENT

0.41%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.96%
Appreciation Year (1-5) 10.3%
Maintenance Year (1-5) 8.00%
Vacancy 7.63%
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

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$164,724

INVESTMENT

$164,724

Down Payment
$149,975
Rehab Estimate
$5,750
Closing Costs
$8,999

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,084

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $149,975
Loan Amount $449,925
See What Happens When You Reinvest Cash Flow

4.42

YEARS SAVED

$26,516

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,480

    LIST RENT
  • $0.78

    LIST RENT PER SQFT
  • $2,450

    COMP ESTIMATED VALUE
  • $0.77

    COMP AVG. RENT PER SQFT
Comps Range
$2,250
1$2,2502$2,3953$2,4804$2,6505$2,850
$2,850
RENT COMPS ANALYSIS
  • 4645 Cimarron Road Las Vegas, NV 3
    • 6 beds 3 baths ∙ 3,172 Sqft ∙ Built 1988 6 beds 3 baths ∙ 3,172 Sqft ∙ Built 1988
    • Rent
    • Rent Per SQFT
    •  
    • $2,480
    • $0.78
    •  
  • 7709 Four Seasons Drive Las Vegas, NV 1
    • 5 beds 5 baths ∙ 3,333 Sqft ∙ Built 1995 5 beds 5 baths ∙ 3,333 Sqft ∙ Built 1995
    LEASED 11/01/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,250
    • $0.68
    •  
  • 8500 Copper Mountain Avenue Las Vegas, NV 2
    • 5 beds 2 baths ∙ 3,007 Sqft ∙ Built 1997 5 beds 2 baths ∙ 3,007 Sqft ∙ Built 1997
    LEASED 04/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,395
    • $0.80
    •  
  • 8073 Mackenzie Court Las Vegas, NV 4
    • 5 beds 4 baths ∙ 3,494 Sqft ∙ Built 1991 5 beds 4 baths ∙ 3,494 Sqft ∙ Built 1991
    LEASED 05/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,650
    • $0.76
    •  
  • 7613 Mooring Avenue Las Vegas, NV 5
    • 5 beds 5 baths ∙ 3,351 Sqft ∙ Built 1996 5 beds 5 baths ∙ 3,351 Sqft ∙ Built 1996
    LEASED 07/25/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,850
    • $0.85
    •  
PROPERTY LISTING DETAILS
Stephanie A Lavigne
1.702.379.4414
O48 Realty
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2262622
Last Updated: 01/21/2021
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