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500 Pinnacle Heights Lane Las Vegas, NV 89144

4 Beds 4 Baths 4,078 sqft Built 2000

INVESTimate

$999,000

List Price

$4,160

$3,910 - $4,410

Rent Est.

$1,011,488  ( +1.25%)   1 YR EST. FORECAST

PROPERTY INFO

FACTS
  • Built In 2000
  • Price/Sqft : $244.97
  • 10 Days on Market
  • MLS # : 2222604
  • Updated Date : 08/21/2020 at 18:09
CONSTRUCTION
  • Beds : 4
  • Floor Size : 4,078 sqft
  • Baths : 3 full , 1 half
Listing Agent

Coldwell Banker Premier

Listing Agent's Description

STUNNING & SPACIOUS HOME LOCATED IN THE GUARD GATED COMMUNITY OF EAGLE ROCK. ELEGANT & MODERN FINISHES. FROM THE BEAUTIFUL CUSTOM FRONT DOOR TO A HUGE SUNKEN LIVING ROOM WITH SOARING CEILINGS & WROUGHT IRON STAIRCASE ADDS GRANDNESS TO THIS HOME. FORMAL DINING ROOM WITH FIREPLACE OPENS TO THE KITCHEN AREA. HUGE KITCHEN WITH GRANITE COUNTER TOPS, CUSTOM WHITE CABINETS, BREAKFAST BAR, ISLAND, NOOK, WALK-IN PANTRY & TOP OF THE LINE APPLIANCES INCLUDES DOUBLE OVEN. FAMILY ROOM, DEN/OFFICE WITH WALK-IN STORAGE CLOSET. SPACIOUS MASTER BEDROOM WITH FIREPLACE, BALCONY & LUXURIOUS MASTER BATH WITH WALK-IN SHOWER, FREE STANDING SLIPPER TUB, DUAL VANITIES & CUSTOM WALK-IN CLOSET. 2ND BEDROOM UPSTAIRS HAS IT'S OWN BATHROOM, 3RD & 4TH BEDROOMS HAS JACK-N-JILL BATHROOM. ROOMS HAVE CUSTOM BUILT CABINETS AND CLOSET ORGANIZER. BACKYARD PARADISE WITH POOL AND LARGE COVERED PATIO. SELLER SPENT $260,000 UPGRADES & IMPROVEMENTS. GARAGE WITH TILE FLOORING, SHELVING AND TESLA CHARGER. A MUST SEE!

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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: The Canyons

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450k500k550k600k650k700kPrice in $119k728k

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

Neighborhood: The Canyons

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21500200025003000350040004500Rent in $10764605

* 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
John W. Bonner Elementary School Primary Regular 859 47 10
Sig Rogich Middle School Middle Regular 1,845 70 NA
Palo Verde High School High Regular 3,024 114 9

John W. Bonner Elementary School

  • Education Level: Primary
  • # of students: 859
  • # of teachers: 47
10
GreatSchools Rating

Sig Rogich Middle School

  • Education Level: Middle
  • # of students: 1,845
  • # of teachers: 70
NA
GreatSchools Rating

Palo Verde High School

  • Education Level: High
  • # of students: 3,024
  • # of teachers: 114
9
GreatSchools Rating
 

$899,100$1,098,900$999,000

PURCHASE PRICE

$3,744$4,576$4,160

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$0.0$10k$20k$30k$40k

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 $4,160
EXPENSES Loan Payment -$3,686
Property Tax -$645
Property Insurance -$106
HOA -$170
Property Management Fees -$119
CASH FLOW
-$566

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.

$999,000

PROJECTED PRICE

$4,160

PROJECTED RENT

0.42%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.05%
Appreciation Year (1-5) 1.25%
Maintenance Year (1-5) 8.00%
Vacancy 7.57%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$270,485

INVESTMENT

$270,485

Down Payment
$249,750
Rehab Estimate
$5,750
Closing Costs
$14,985

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$3,686

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $249,750
Loan Amount $749,250
See What Happens When You Reinvest Cash Flow

3.08

YEARS SAVED

$28,544

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $4,160

    LIST RENT
  • $1.02

    LIST RENT PER SQFT
  • $4,170

    COMP ESTIMATED VALUE
  • $1.02

    COMP AVG. RENT PER SQFT
Comps Range
$3,500
1$3,5002$4,0003$4,1604$4,2005$4,950
$4,950
RENT COMPS ANALYSIS
  • 500 Pinnacle Heights Lane Las Vegas, NV 3
    • 4 beds 4 baths ∙ 4,078 Sqft ∙ Built 2000 4 beds 4 baths ∙ 4,078 Sqft ∙ Built 2000
    • Rent
    • Rent Per SQFT
    •  
    • $4,160
    • $1.02
    •  
  • 9417 Garnet Crown Avenue Las Vegas, NV 1
    • 4 beds 4 baths ∙ 3,855 Sqft ∙ Built 2000 4 beds 4 baths ∙ 3,855 Sqft ∙ Built 2000
    LEASED 09/30/19
    • Rent
    • Rent Per SQFT
    •  
    • $3,500
    • $0.91
    •  
  • 9405 Queen Charlotte Drive Las Vegas, NV 2
    • 4 beds 3 baths ∙ 4,143 Sqft ∙ Built 2001 4 beds 3 baths ∙ 4,143 Sqft ∙ Built 2001
    LEASED 05/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $4,000
    • $0.97
    •  
  • 9829 Ridge Rock Court Las Vegas, NV 4
    • 5 beds 4 baths ∙ 4,107 Sqft ∙ Built 1999 5 beds 4 baths ∙ 4,107 Sqft ∙ Built 1999
    LEASED 11/21/19
    • Rent
    • Rent Per SQFT
    •  
    • $4,200
    • $1.02
    •  
  • 309 Round Stone Las Vegas, NV 5
    • 5 beds 3 baths ∙ 4,143 Sqft ∙ Built 2002 5 beds 3 baths ∙ 4,143 Sqft ∙ Built 2002
    LEASED 08/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $4,950
    • $1.19
    •  
PROPERTY LISTING DETAILS
Kaori S Guerra
1.702.496.7372
Coldwell Banker Premier
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2222604
Last Updated: 08/21/2020
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