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4875 Stavanger Lane Las Vegas, NV 89147

5 Beds 4 Baths 3,429 sqft Built 1997

INVESTimate

$599,500

List Price

$2,410

$2,169 - $2,651

Rent Est.

$658,910  ( +9.91%)   1 YR EST. FORECAST

PROPERTY INFO

FACTS
  • Built In 1997
  • Price/Sqft : $174.83
  • 9 Days on Market
  • MLS # : 2221908
  • Updated Date : 08/22/2020 at 12:53
CONSTRUCTION
  • Beds : 5
  • Floor Size : 3,429 sqft
  • Baths : 3 full , 1 half
Listing Agent

Realty One Group, Inc

Listing Agent's Description

Guard Gated home in SW near Tropicana/215. Great 5 Bdrm home/3.5 baths. Master Bedroom Down. Brazilian Hardwood Floors/Ceramic Tile/Carpet flooring. Tons of upgrades-New Front Door, New lighting, Refaced kitchen cherry cabinets, SS appliances about 3-4 yrs old. 9' to 10' Ceilings and vaulted ceilings. Granite Counter tops, pull out shelfs. All upstairs windows are new/low-e. Roof felt redone. Loft has built-in desk/murphy bed. 19 seer A/C-2 units-9 ton +7 ton with clean air filtration system. All LED lights thru out. All interior doors have new hinges. New insulated 3 car Garage Doors (3yrs). Garage 9' ceiling w cabinets and storage racks. Covered Patio @37'X24' and lights (as-is) Outdoor kitchen, patio and shed stays. Fruit trees-apricot, plum, apple. Crown moldings and baseboards in various rooms

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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: 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
 

$539,550$659,450$599,500

PURCHASE PRICE

$2,169$2,651$2,410

RENT

DOWN PAYMENT
FINANCING

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$500k$1.0M$1.5M$2.0M

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,410
EXPENSES Loan Payment -$2,212
Property Tax -$337
Property Insurance -$94
HOA -$177
Property Management Fees -$119
CASH FLOW
-$528

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.

$599,500

PROJECTED PRICE

$2,410

PROJECTED RENT

0.40%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.96%
Appreciation Year (1-5) 9.91%
Maintenance Year (1-5) 8.00%
Vacancy 7.63%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$164,618

INVESTMENT

$164,618

Down Payment
$149,875
Rehab Estimate
$5,750
Closing Costs
$8,993

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,212

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $149,875
Loan Amount $449,625
See What Happens When You Reinvest Cash Flow

1.58

YEARS SAVED

$6,432

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,410

    LIST RENT
  • $0.7

    LIST RENT PER SQFT
  • $2,469

    COMP ESTIMATED VALUE
  • $0.72

    COMP AVG. RENT PER SQFT
Comps Range
$2,295
1$2,2952$2,4103$2,5004$2,6005$2,650
$2,650
RENT COMPS ANALYSIS
  • 4875 Stavanger Lane Las Vegas, NV 2
    • 5 beds 4 baths ∙ 3,429 Sqft ∙ Built 1997 5 beds 4 baths ∙ 3,429 Sqft ∙ Built 1997
    • Rent
    • Rent Per SQFT
    •  
    • $2,410
    • $0.70
    •  
  • 9013 Heavenly Valley Avenue Las Vegas, NV 1
    • 4 beds 4 baths ∙ 3,357 Sqft ∙ Built 1997 4 beds 4 baths ∙ 3,357 Sqft ∙ Built 1997
    LEASED 04/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,295
    • $0.68
    •  
  • 4326 Spooner Lake Circle Las Vegas, NV 3
    • 4 beds 4 baths ∙ 3,470 Sqft ∙ Built 2001 4 beds 4 baths ∙ 3,470 Sqft ∙ Built 2001
    LEASED 10/10/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $0.72
    •  
  • 4700 Laguna Vista Street Las Vegas, NV 4
    • 4 beds 3 baths ∙ 3,668 Sqft ∙ Built 1996 4 beds 3 baths ∙ 3,668 Sqft ∙ Built 1996
    LEASED 01/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,600
    • $0.71
    •  
  • 8862 Rio Verde Avenue Las Vegas, NV 5
    • 5 beds 4 baths ∙ 3,429 Sqft ∙ Built 1996 5 beds 4 baths ∙ 3,429 Sqft ∙ Built 1996
    LEASED 03/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,650
    • $0.77
    •  
PROPERTY LISTING DETAILS
Katherine H Little
1.702.525.2557
Realty One Group, Inc
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2221908
Last Updated: 08/22/2020
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