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PROPERTY INFO
FACTS
- Single Family
- Built In 2015
- Price/Sqft : $269.41
- 3 Days on Market
- MLS # : 2248226
- Updated Date : 11/20/2020 at 11:07
CONSTRUCTION
- Beds : 3
- Floor Size : 3,619 sqft
- Baths : 3 full , 1 half
Listing Agent
Rob Jensen Company
Listing Agent's Description
Modern, open plan Paseos 2-story w/theater. Heavily upgraded. Porcelain tile, steel & stone details, & wall-mounted TVs in almost every room. Kitchen w/stainless GE Monogram & LG appliances, waterfall edge island, walk-in pantry, & dining nook. Great room w/20' ceilings, impressive floor-to-ceiling fireplace feature, & oversized glass sliders that open to covered loggia. Rear yard w/spacious patio, turf lawn, & pergola. Primary bedroom down w/yard access, walk-in closet, dual vanities & generous shower w/integrated bathtub. Theater room w/built-in surround sound & tiered floors for seating. Loft opens to balcony w/mountain views to the south. Two main-level private dens. Nearby pedestrian gate to trail system that connects the 12-acre Paseos Park to the 11.27-acre adventure & climbing-themed Fox Hill Park. Minutes from Red Rock Canyon, Downtown Summerlin, Red Rock Casino Resort & Spa, & some of the most desirable schools in the valley.
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: The Paseos
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: The Paseos
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $3,820 |
| EXPENSES | Loan Payment | -$3,597 |
| Property Tax | -$708 | |
| Property Insurance | -$97 | |
| Property Management Fees | -$119 | |
|
CASH FLOW
-$702
|
||
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.
$975,000
PROJECTED PRICE
$3,820
PROJECTED RENT
0.39%
PROJECTED RENT / PRICE RATIO
| Expense Inflation | 2.50% |
| Rental Growth Year (1-5) | 4.05% |
| Appreciation Year (1-5) | 9.1% |
| Maintenance Year (1-5) | 8.00% |
| Vacancy | 7.57% |
| 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
$264,125
LOAN DETAILS
$3,597
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 4.25% |
| Down Payment | $243,750 |
| Loan Amount | $731,250 |
2.33
YEARS SAVED
$19,034
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$3,820
LIST RENT -
$1.06
LIST RENT PER SQFT
-
$4,135
COMP ESTIMATED VALUE -
$1.14
COMP AVG. RENT PER SQFT
Comps Range
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- 3 beds 4 baths ∙ 3,619 Sqft ∙ Built 2015 3 beds 4 baths ∙ 3,619 Sqft ∙ Built 2015
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- $3,820
- $1.06
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948 White Feather Las Vegas, NV 1
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LEASED 05/01/20- Rent
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- $3,500
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12049 La Palmera Avenue Las Vegas, NV 2
- 4 beds 4 baths ∙ 3,387 Sqft ∙ Built 2006 4 beds 4 baths ∙ 3,387 Sqft ∙ Built 2006
LEASED 09/14/20- Rent
- Rent Per SQFT
- $3,800
- $1.12
-
928 White Feather Lane Las Vegas, NV 4
- 4 beds 3 baths ∙ 3,540 Sqft ∙ Built 2005 4 beds 3 baths ∙ 3,540 Sqft ∙ Built 2005
LEASED 02/13/20- Rent
- Rent Per SQFT
- $3,995
- $1.13
-
869 Las Palomas Drive #0 Las Vegas, NV 5
- 4 beds 4 baths ∙ 3,455 Sqft ∙ Built 2006 4 beds 4 baths ∙ 3,455 Sqft ∙ Built 2006
LEASED 12/14/19- Rent
- Rent Per SQFT
- $4,500
- $1.30
PROPERTY LISTING DETAILS
1.702.605.7482
Rob Jensen Company
1.866.250.5610
Mynd Property Management
1453579
MLS #: 2248226
Last Updated: 11/20/2020
