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5005 Frozen Springs Court Las Vegas, NV 89130

4 Beds 2 Baths 2,086 sqft Built 2001

$380,000

List Price

$1,380

$1.2K - $1.5K

Rent Est.

PROPERTY INFO

November 07, 2020 RECENTLY ADDED
FACTS
  • Built In 2001
  • Price/Sqft : $182.17
  • 7 Days on Market
  • MLS # : 2244105
  • Updated Date : 11/07/2020 at 11:30
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,086 sqft
  • Baths : 2 full
Listing Agent

Realty One Group, Inc

Listing Agent's Description

Welcome home! This wonderful home features a large living area downstairs and four spacious bedrooms upstairs. All appliances are included, even the refrigerator, microwave, washer, and dryer! The neutral flooring is carpet and tile downstairs, with laminate and carpet upstairs. The lot is spacious, and features low maintenance landscaping. ! Easy access to the 95 freeway, shopping, and more!

SEE MORE

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: North Cheyenne

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300kPrice in $119k302k

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

Neighborhood: North Cheyenne

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2105011001150120012501300135014001450150015501600Rent in $10011606

* 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
Kay Carl Elementary School Primary Regular 686 32 4
Anthony Saville Middle School Middle Regular 1,494 58 NA
Shadow Ridge High School High Regular 2,697 105 6

Kay Carl Elementary School

  • Education Level: Primary
  • # of students: 686
  • # of teachers: 32
4
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
 

$342,000$418,000$380,000

PURCHASE PRICE

$1,242$1,518$1,380

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,380
EXPENSES Loan Payment -$1,402
Property Tax -$243
Property Insurance -$68
Property Management Fees -$119
CASH FLOW
-$452

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.

$380,000

PROJECTED PRICE

$1,380

PROJECTED RENT

0.36%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.96%
Appreciation Year (1-5) 10.7%
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$1.2M$1.4M

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$106,450

INVESTMENT

$106,450

Down Payment
$95,000
Rehab Estimate
$5,750
Closing Costs
$5,700

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 65% down payment or higher enables the proceeds from the asset to cover all costs.

$1,402

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $95,000
Loan Amount $285,000
See What Happens When You Reinvest Cash Flow

0.67

YEARS SAVED

$1,266

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,380

    LIST RENT
  • $0.66

    LIST RENT PER SQFT
  • $1,512

    COMP ESTIMATED VALUE
  • $0.73

    COMP AVG. RENT PER SQFT
Comps Range
$1,380
1$1,3802$1,3953$1,4504$1,5405$1,550
$1,550
RENT COMPS ANALYSIS
  • 5005 Frozen Springs Court Las Vegas, NV 1
    • 4 beds 2 baths ∙ 2,086 Sqft ∙ Built 2001 4 beds 2 baths ∙ 2,086 Sqft ∙ Built 2001
    • Rent
    • Rent Per SQFT
    •  
    • $1,380
    • $0.66
    •  
  • 5105 Wapiti Point Court #. Las Vegas, NV 2
    • 3 beds 3 baths ∙ 1,969 Sqft ∙ Built 1998 3 beds 3 baths ∙ 1,969 Sqft ∙ Built 1998
    LEASED 01/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,395
    • $0.71
    •  
  • 5017 Dancing Lights Avenue #n/a Las Vegas, NV 3
    • 4 beds 3 baths ∙ 2,086 Sqft ∙ Built 2000 4 beds 3 baths ∙ 2,086 Sqft ∙ Built 2000
    LEASED 01/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $0.70
    •  
  • 5100 Remini Las Vegas, NV 4
    • 4 beds 3 baths ∙ 2,047 Sqft ∙ Built 2001 4 beds 3 baths ∙ 2,047 Sqft ∙ Built 2001
    LEASED 05/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,540
    • $0.75
    •  
  • 5024 Frozen Springs Court Las Vegas, NV 5
    • 4 beds 3 baths ∙ 2,086 Sqft ∙ Built 2001 4 beds 3 baths ∙ 2,086 Sqft ∙ Built 2001
    LEASED 11/18/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $0.74
    •  
PROPERTY LISTING DETAILS
Alejandro Cenera
1.702.237.1467
Realty One Group, Inc
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2244105
Last Updated: 11/07/2020
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