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4933 Morning Splash Avenue Las Vegas, NV 89131

3 Beds 2 Baths 1,612 sqft Built 2001

INVESTimate

$324,900

List Price

$1,460

$1,314 - $1,606

Rent Est.

$358,137  ( +10.23%)   1 YR EST. FORECAST

PROPERTY INFO

FACTS
  • Built In 2001
  • Price/Sqft : $201.55
  • 14 Days on Market
  • MLS # : 2221736
  • Updated Date : 08/20/2020 at 18:20
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,612 sqft
  • Baths : 2 full
Listing Agent

Platinum R.e. Professionals

Listing Agent's Description

WHOA NELLY ONE STORY FHA RANGE IN LAS VEGAS! THESE HOMES ARE BECOMING EXTINCT! THOUSANDS IN RECENT UPGRADES SUPER CLEAN. ONE OF THE MOST POPULAR 1 STORY PLANS EVERY BUILT IN VEGAS! Nice entry way leads you to great floor plan with vaulted ceilings. Chef like kitchen with tons of space that overlooks the entertainment room. Take a stroll out back and create your own mini park with lush trees and nobody behind. The master is huge for floor plan and includes spa like master bathroom. Secondary rooms separate from master on other side of home.. Plantation shutters! BEST IN CLASS A CALIFORNIA EXODUS FAVORITE

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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: Lynbrook

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320k340kPrice in $119k341k

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

Neighborhood: Lynbrook

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2105011001150120012501300135014001450150015501600Rent in $10441606

* 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
Howard Heckethorn Elementary School Primary Regular 657 35 7
Anthony Saville Middle School Middle Regular 1,494 58 NA
Shadow Ridge High School High Regular 2,697 105 6

Howard Heckethorn Elementary School

  • Education Level: Primary
  • # of students: 657
  • # of teachers: 35
7
GreatSchools Rating

Anthony Saville Middle School

  • Education Level: Middle
  • # of students: 1,494
  • # of teachers: 58
NA
GreatSchools Rating

Shadow Ridge High School

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

$292,410$357,390$324,900

PURCHASE PRICE

$1,314$1,606$1,460

RENT

DOWN PAYMENT
FINANCING

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$200k$400k$600k$800k$1.0M$1.2M

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,460
EXPENSES Loan Payment -$1,199
Property Tax -$199
Property Insurance -$58
HOA -$80
Property Management Fees -$119
CASH FLOW
-$195

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.

$324,900

PROJECTED PRICE

$1,460

PROJECTED RENT

0.45%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.96%
Appreciation Year (1-5) 10.23%
Maintenance Year (1-5) 8.00%
Vacancy 7.63%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$91,849

INVESTMENT

$91,849

Down Payment
$81,225
Rehab Estimate
$5,750
Closing Costs
$4,874

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,199

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $81,225
Loan Amount $243,675
See What Happens When You Reinvest Cash Flow

2.92

YEARS SAVED

$8,645

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,460

    LIST RENT
  • $0.91

    LIST RENT PER SQFT
  • $1,471

    COMP ESTIMATED VALUE
  • $0.91

    COMP AVG. RENT PER SQFT
Comps Range
$1,395
1$1,3952$1,4603$1,4954$1,5005$1,550
$1,550
RENT COMPS ANALYSIS
  • 4933 Morning Splash Avenue Las Vegas, NV 2
    • 3 beds 2 baths ∙ 1,612 Sqft ∙ Built 2001 3 beds 2 baths ∙ 1,612 Sqft ∙ Built 2001
    • Rent
    • Rent Per SQFT
    •  
    • $1,460
    • $0.91
    •  
  • 4932 Royal Lake Avenue Las Vegas, NV 1
    • 4 beds 2 baths ∙ 1,610 Sqft ∙ Built 2002 4 beds 2 baths ∙ 1,610 Sqft ∙ Built 2002
    LEASED 01/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,395
    • $0.87
    •  
  • 5120 Cascade Pools Las Vegas, NV 3
    • 3 beds 2 baths ∙ 1,655 Sqft ∙ Built 2000 3 beds 2 baths ∙ 1,655 Sqft ∙ Built 2000
    LEASED 05/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,495
    • $0.90
    •  
  • 5028 Cascade Pools Las Vegas, NV 4
    • 3 beds 2 baths ∙ 1,655 Sqft ∙ Built 2001 3 beds 2 baths ∙ 1,655 Sqft ∙ Built 2001
    LEASED 06/26/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $0.91
    •  
  • 7642 Morning Lake Drive Las Vegas, NV 5
    • 3 beds 2 baths ∙ 1,594 Sqft ∙ Built 2003 3 beds 2 baths ∙ 1,594 Sqft ∙ Built 2003
    LEASED 08/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $0.97
    •  
PROPERTY LISTING DETAILS
Steve P Hawks
1.702.617.4637
Platinum R.e. Professionals
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2221736
Last Updated: 08/20/2020
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