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4778 Designer Way Las Vegas, NV 89129

5 Beds 3 Baths 3,595 sqft Built 1996

$699,900

List Price

$2,840

$2.6K - $3.1K

Rent Est.

PROPERTY INFO

November 01, 2020 RECENTLY ADDED
FACTS
  • Built In 1996
  • Price/Sqft : $194.69
  • 4 Days on Market
  • MLS # : 2243833
  • Updated Date : 10/31/2020 at 17:26
CONSTRUCTION
  • Beds : 5
  • Floor Size : 3,595 sqft
  • Baths : 3 full
Listing Agent

Re/max Advantage

Listing Agent's Description

Well cared for home on a lush 1/2 acre lot!This is the home you have been looking for.Corner lot with RV parking.Inviting entry with winding stairway leads into a huge family room area with a wet bar that is perfect for entertaining.The bright and airy kitchen has a walk-in pantry and pull-out cabinets with a large nook that overlooks the amazing backyard.The formal living and dining rooms are flexible spaces that the current owner uses as a game room and weight room.4 good sized bedrooms and an office are all upstairs.All of the bathrooms have been beautifully remodeled.Make amazing memories in the private paradise back yard with a resort like salt-water pool and spa with a waterfall, get your exercise on the sports court, relax on one of the covered or uncovered patios or snuggle up to the cozy firepit on a chilly night.All of the windows and doors have been replaced with energy efficient Anderson windows and doors.Exterior was recently painted!

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MARKET HIGHLIGHTS

  • 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)
  • 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)

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
 

$629,910$769,890$699,900

PURCHASE PRICE

$2,556$3,124$2,840

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,840
EXPENSES Loan Payment -$2,582
Property Tax -$335
Property Insurance -$97
Property Management Fees -$119
CASH FLOW
-$293

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.

$699,900

PROJECTED PRICE

$2,840

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$2.5M

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$2.5M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$191,224

INVESTMENT

$191,224

Down Payment
$174,975
Rehab Estimate
$5,750
Closing Costs
$10,499

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,582

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $174,975
Loan Amount $524,925
See What Happens When You Reinvest Cash Flow

3.83

YEARS SAVED

$29,647

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,840

    LIST RENT
  • $0.79

    LIST RENT PER SQFT
  • $2,813

    COMP ESTIMATED VALUE
  • $0.78

    COMP AVG. RENT PER SQFT
Comps Range
$2,650
1$2,6502$2,8403$2,8504$2,8955$3,200
$3,200
RENT COMPS ANALYSIS
  • 4778 Designer Way Las Vegas, NV 2
    • 5 beds 3 baths ∙ 3,595 Sqft ∙ Built 1996 5 beds 3 baths ∙ 3,595 Sqft ∙ Built 1996
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,840
    • $0.79
    •  
  • 8073 Mackenzie Court Las Vegas, NV 1
    • 5 beds 4 baths ∙ 3,494 Sqft ∙ Built 1991 5 beds 4 baths ∙ 3,494 Sqft ∙ Built 1991
    property image
    LEASED 05/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,650
    • $0.76
    •  
  • 4741 Sand Hawk Court Las Vegas, NV 3
    • 4 beds 2 baths ∙ 3,891 Sqft ∙ Built 1996 4 beds 2 baths ∙ 3,891 Sqft ∙ Built 1996
    property image
    LEASED 08/06/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,850
    • $0.73
    •  
  • 7512 Cathedral Canyon Court #n/a Las Vegas, NV 4
    • 6 beds 3 baths ∙ 3,828 Sqft ∙ Built 1993 6 beds 3 baths ∙ 3,828 Sqft ∙ Built 1993
    property image
    LEASED 12/23/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,895
    • $0.76
    •  
  • 8370 Helena Avenue Las Vegas, NV 5
    • 4 beds 3 baths ∙ 3,617 Sqft ∙ Built 2013 4 beds 3 baths ∙ 3,617 Sqft ∙ Built 2013
    property image
    LEASED 08/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,200
    • $0.88
    •  
PROPERTY LISTING DETAILS
Jody A Lenzie
1.702.499.9494
Re/max Advantage
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2243833
Last Updated: 10/31/2020
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