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5012 Elkin Creek Avenue Las Vegas, NV 89131

4 Beds 3 Baths 2,791 sqft Built 2004

$420,900

List Price

$1,830

$1.6K - $2K

Rent Est.

PROPERTY INFO

FACTS
  • Built In 2004
  • Price/Sqft : $150.81
  • 9 Days on Market
  • MLS # : 2243766
  • Updated Date : 11/06/2020 at 20:44
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,791 sqft
  • Baths : 2 full , 1 half
Listing Agent

Re/max American Made

Listing Agent's Description

WOW!! This home has been COMPLETELY RENNOVATED from top to bottom. EVERYTHING IS NEW!! Be sure to click on virtual tour for complete details. New wood laminate flooring, new kitchen and bathrooms, new AC/Heater units, NEW fireplace, new appliances, new fixtures New pool equipment - New paint inside and out ALL NEW in 2019. UPGRADED THROUGHOUT!! Wood laminate flooring and ceiling fans throughout entire home along with recessed lighting, kitchen has quartz countertops, all stainless steel appliances w/farm sink. Mud room off of garage, electric dual sided fireplace between family room and living room. 4 bedrooms upstairs w/loft. All bathroom have quartz counter tops. Master bath has full renovated walk in shower with dual shower head and bench. ALLAPPLIANCES STAY. Backyard pool has all new pool equipment and kool deck, covered patio. New paint inside and out. Garage has 220 and epoxy floors.

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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: Centennial Hills

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320k340k360kPrice in $119k362k

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

Neighborhood: Centennial Hills

NeighborhoodNIR Market*CityMarket2010Year20002019 Q211001200130014001500160017001800Rent in $10761875

* 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
Kitty Mcdonough Ward Elementary School Primary Regular 830 43 9
Anthony Saville Middle School Middle Regular 1,494 58 NA
Shadow Ridge High School High Regular 2,697 105 6

Kitty Mcdonough Ward Elementary School

  • Education Level: Primary
  • # of students: 830
  • # of teachers: 43
9
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
 

$378,810$462,990$420,900

PURCHASE PRICE

$1,647$2,013$1,830

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,830
EXPENSES Loan Payment -$1,553
Property Tax -$312
Property Insurance -$81
Property Management Fees -$119
CASH FLOW
-$235

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.

$420,900

PROJECTED PRICE

$1,830

PROJECTED RENT

0.43%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.05%
Appreciation Year (1-5) 10.3%
Maintenance Year (1-5) 8.00%
Vacancy 7.57%
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-$5.0k$0.0$5.0k$10k$15k

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$117,289

INVESTMENT

$117,289

Down Payment
$105,225
Rehab Estimate
$5,750
Closing Costs
$6,314

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,553

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $105,225
Loan Amount $315,675
See What Happens When You Reinvest Cash Flow

3.25

YEARS SAVED

$13,043

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,830

    LIST RENT
  • $0.66

    LIST RENT PER SQFT
  • $1,870

    COMP ESTIMATED VALUE
  • $0.67

    COMP AVG. RENT PER SQFT
Comps Range
$1,665
1$1,6652$1,7953$1,8304$1,8955$2,015
$2,015
RENT COMPS ANALYSIS
  • 5012 Elkin Creek Avenue Las Vegas, NV 3
    • 4 beds 3 baths ∙ 2,791 Sqft ∙ Built 2004 4 beds 3 baths ∙ 2,791 Sqft ∙ Built 2004
    • Rent
    • Rent Per SQFT
    •  
    • $1,830
    • $0.66
    •  
  • 4926 Chest Park Avenue Las Vegas, NV 1
    • 3 beds 3 baths ∙ 2,663 Sqft ∙ Built 2010 3 beds 3 baths ∙ 2,663 Sqft ∙ Built 2010
    LEASED 12/26/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,665
    • $0.63
    •  
  • 5041 Wild Buffalo Las Vegas, NV 2
    • 4 beds 3 baths ∙ 2,791 Sqft ∙ Built 2002 4 beds 3 baths ∙ 2,791 Sqft ∙ Built 2002
    LEASED 05/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,795
    • $0.64
    •  
  • 5048 Indigo Gorge Las Vegas, NV 4
    • 4 beds 3 baths ∙ 2,791 Sqft ∙ Built 2002 4 beds 3 baths ∙ 2,791 Sqft ∙ Built 2002
    LEASED 04/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,895
    • $0.68
    •  
  • 4714 Prairie Coach Avenue #0 North Las Vegas, NV 5
    • 5 beds 3 baths ∙ 2,757 Sqft ∙ Built 2012 5 beds 3 baths ∙ 2,757 Sqft ∙ Built 2012
    LEASED 05/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,015
    • $0.73
    •  
PROPERTY LISTING DETAILS
Candi L Marshall
1.702.523.1759
Re/max American Made
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2243766
Last Updated: 11/06/2020
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