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4679 Lomas Santa Fe Street Las Vegas, NV 89147

5 Beds 1 Baths 3,668 sqft Built 1998

$649,000

List Price

$2,400

$2.2K - $2.6K

Rent Est.

PROPERTY INFO

November 07, 2020 RECENTLY ADDED
FACTS
  • Built In 1998
  • Price/Sqft : $176.94
  • 3 Days on Market
  • MLS # : 2243751
  • Updated Date : 11/07/2020 at 01:10
CONSTRUCTION
  • Beds : 5
  • Floor Size : 3,668 sqft
  • Baths : 1 full
Listing Agent

O48 Realty

Listing Agent's Description

Luxurious & modern 5 bedroom & 4 bathroom home boasts over $150k in upgrades & renovations including gorgeous tile flooring & European cabinetry. The breathtaking chef’s kitchen features quartz countertops, 15ft waterfall island, self closing cabinets, beautiful backsplash, vast walk-in pantry, gas cooktop & double ovens. Over $50k in smart features including: security cameras, locks, dimmable LED lighting, temperature controls, full home sound system, appliances, & black out window shades. Primary bedroom is highlighted by high ceilings, 2 way fireplace & his/hers walk-in closets. Primary bath features amazing tile work, large jetted tub, quartz countertops & dual sinks. Other upgrades include full home water filtration, instant hot water pump, smart water softener with leak detection. Exclusive, secure & guard gated location in the desirable Granada Hills community is less than 15 minutes (7 miles) from LV Strip, Airport & Raider Stadium.

SEE MORE

MARKET HIGHLIGHTS

  • 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: Spring Valley

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280kPrice in $119k296k

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

Neighborhood: Spring Valley

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2105011001150120012501300135014001450150015501600Rent in $10381606

* 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
Patricia A Bendorf. Elementary School Primary Regular 707 36 9
Lawrence Junior High School Middle Regular 1,421 61 NA
Durango High School High Regular 2,302 95 5

Patricia A Bendorf. Elementary School

  • Education Level: Primary
  • # of students: 707
  • # of teachers: 36
9
GreatSchools Rating

Lawrence Junior High School

  • Education Level: Middle
  • # of students: 1,421
  • # of teachers: 61
NA
GreatSchools Rating

Durango High School

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

$584,100$713,900$649,000

PURCHASE PRICE

$2,160$2,640$2,400

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,400
EXPENSES Loan Payment -$2,395
Property Tax -$352
Property Insurance -$98
Property Management Fees -$119
CASH FLOW
-$563

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.

$649,000

PROJECTED PRICE

$2,400

PROJECTED RENT

0.37%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.96%
Appreciation Year (1-5) 9.9%
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-$10k-$5.0k$0.0$5.0k$10k$15k$20k

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$177,735

INVESTMENT

$177,735

Down Payment
$162,250
Rehab Estimate
$5,750
Closing Costs
$9,735

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 60% down payment or higher enables the proceeds from the asset to cover all costs.

$2,395

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $162,250
Loan Amount $486,750
See What Happens When You Reinvest Cash Flow

1.67

YEARS SAVED

$8,376

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,400

    LIST RENT
  • $0.65

    LIST RENT PER SQFT
  • $2,604

    COMP ESTIMATED VALUE
  • $0.71

    COMP AVG. RENT PER SQFT
Comps Range
$2,200
1$2,2002$2,4003$2,4004$2,5005$2,650
$2,650
RENT COMPS ANALYSIS
  • 4679 Lomas Santa Fe Street Las Vegas, NV 3
    • 5 beds 1 baths ∙ 3,668 Sqft ∙ Built 1998 5 beds 1 baths ∙ 3,668 Sqft ∙ Built 1998
    • Rent
    • Rent Per SQFT
    •  
    • $2,400
    • $0.65
    •  
  • 9977 Ridge Manor Avenue #0 Las Vegas, NV 1
    • 4 beds 2 baths ∙ 3,450 Sqft ∙ Built 2001 4 beds 2 baths ∙ 3,450 Sqft ∙ Built 2001
    LEASED 06/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $0.64
    •  
  • 8371 Baden Westwood Lane Las Vegas, NV 2
    • 5 beds 2 baths ∙ 3,429 Sqft ∙ Built 2018 5 beds 2 baths ∙ 3,429 Sqft ∙ Built 2018
    LEASED 01/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,400
    • $0.70
    •  
  • 5933 Chatsworth Hill Street Las Vegas, NV 4
    • 5 beds 2 baths ∙ 3,432 Sqft ∙ Built 2018 5 beds 2 baths ∙ 3,432 Sqft ∙ Built 2018
    LEASED 10/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $0.73
    •  
  • 5349 Misty Acres Las Vegas, NV 5
    • 4 beds 2 baths ∙ 3,450 Sqft ∙ Built 2003 4 beds 2 baths ∙ 3,450 Sqft ∙ Built 2003
    LEASED 05/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,650
    • $0.77
    •  
PROPERTY LISTING DETAILS
James Martin
1.702.340.5935
O48 Realty
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2243751
Last Updated: 11/07/2020
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