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4836 Fiesta Lakes Street Las Vegas, NV 89130

2 Beds 2 Baths 1,528 sqft Built 1989

$310,000

List Price

$1,350

$1.2K - $1.5K

Rent Est.

PROPERTY INFO

November 06, 2020 RECENTLY ADDED
FACTS
  • Built In 1989
  • Price/Sqft : $202.88
  • 3 Days on Market
  • MLS # : 2242659
  • Updated Date : 11/06/2020 at 09:36
CONSTRUCTION
  • Beds : 2
  • Floor Size : 1,528 sqft
  • Baths : 2 full
Listing Agent

Realty One Group, Inc

Listing Agent's Description

LOS PRADOS Golf Community...The Best kept secret in Las Vegas. COME see this beautiful, 1 Story, 2 BR, 2 BA home in the heart of Los Prados. All Appliances stay. Fresh paint inside and out, NEW HVAC unit, New W/D, NEW Entry Doors, NEW Patio Cover. NEW Toto Toilets. ALL in 2019. Vaulted Ceilings, Ceiling fans, Pot Shelves, Kitchen Island/Counter, Tile flooring throughout, Blinds and window coverings, Water Softener. The Second and Third Bedrooms have been combined to create a roomy 11x20 Second Bedroom. Great for the HOME OFFICE environment we are living in today. Community features: Club house with Bar/Restaurant, Meeting rooms, Dance floor and Library, Pools and Spas, Tennis/Pickle ball courts, 18 hole Golf Course and Pro Shop, 2.5 mile Walking Path, on site RV Parking lot. All behind Guard Gated Security. Close to neighborhood Casino and Centennial Plaza shopping complex. Come join our wonderful Community. SELLER is offering a 1 year Home Warranty to Buyer.

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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: Los Prados

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320kPrice in $119k336k

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

Neighborhood: Los Prados

NeighborhoodNIR Market*CityMarket2010Year20002019 Q211001150120012501300135014001450150015501600Rent in $10621606

* 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
Ernest May Elementary School Primary Regular 665 33 8
Theron L. Swainston Middle School Middle Regular 1,146 52 NA
Shadow Ridge High School High Regular 2,697 105 6

Ernest May Elementary School

  • Education Level: Primary
  • # of students: 665
  • # of teachers: 33
8
GreatSchools Rating

Theron L. Swainston Middle School

  • Education Level: Middle
  • # of students: 1,146
  • # of teachers: 52
NA
GreatSchools Rating

Shadow Ridge High School

  • Education Level: High
  • # of students: 2,697
  • # of teachers: 105
6
GreatSchools Rating
 

$279,000$341,000$310,000

PURCHASE PRICE

$1,215$1,485$1,350

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,350
EXPENSES Loan Payment -$1,144
Property Tax -$182
Property Insurance -$57
Property Management Fees -$119
CASH FLOW
-$152

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.

$310,000

PROJECTED PRICE

$1,350

PROJECTED RENT

0.44%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.96%
Appreciation Year (1-5) 9.3%
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$200k$400k$600k$800k$1.0M

PROJECTED ANNUAL CASH FLOW

11530-$4.0k-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$87,900

INVESTMENT

$87,900

Down Payment
$77,500
Rehab Estimate
$5,750
Closing Costs
$4,650

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,144

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $77,500
Loan Amount $232,500
See What Happens When You Reinvest Cash Flow

3.58

YEARS SAVED

$11,652

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,350

    LIST RENT
  • $0.88

    LIST RENT PER SQFT
  • $1,345

    COMP ESTIMATED VALUE
  • $0.88

    COMP AVG. RENT PER SQFT
Comps Range
$1,100
1$1,1002$1,1003$1,1754$1,2505$1,350
$1,350
RENT COMPS ANALYSIS
  • 4836 Fiesta Lakes Street Las Vegas, NV 5
    • 2 beds 2 baths ∙ 1,528 Sqft ∙ Built 1989 2 beds 2 baths ∙ 1,528 Sqft ∙ Built 1989
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,350
    • $0.88
    •  
  • 4860 Marco Polo Street #. North Las Vegas, NV 1
    • 2 beds 1 baths ∙ 1,306 Sqft ∙ Built 2004 2 beds 1 baths ∙ 1,306 Sqft ∙ Built 2004
    property image
    LEASED 08/14/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,100
    • $0.84
    •  
  • 6146 Pine Villa Avenue #101 Las Vegas, NV 2
    • 2 beds 2 baths ∙ 1,205 Sqft ∙ Built 2005 2 beds 2 baths ∙ 1,205 Sqft ∙ Built 2005
    property image
    LEASED 11/25/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,100
    • $0.91
    •  
  • 6156 Pine Villa Avenue #202 Las Vegas, NV 3
    • 2 beds 2 baths ∙ 1,342 Sqft ∙ Built 2000 2 beds 2 baths ∙ 1,342 Sqft ∙ Built 2000
    property image
    LEASED 11/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,175
    • $0.88
    •  
  • 6428 Angel Mountain Avenue #0 Las Vegas, NV 4
    • 2 beds 3 baths ∙ 1,412 Sqft ∙ Built 1996 2 beds 3 baths ∙ 1,412 Sqft ∙ Built 1996
    property image
    LEASED 12/20/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,250
    • $0.89
    •  
PROPERTY LISTING DETAILS
Bill Campion
1.702.303.4726
Realty One Group, Inc
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2242659
Last Updated: 11/06/2020
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