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5016 Morning Falls Avenue Las Vegas, NV 89131

4 Beds 2 Baths 2,578 sqft Built 2001

INVESTimate

$350,000

List Price

$1,620

$1,458 - $1,782

Rent Est.

$385,805  ( +10.23%)   1 YR EST. FORECAST

PROPERTY INFO

August 22, 2020 RECENTLY ADDED
FACTS
  • Built In 2001
  • Price/Sqft : $135.76
  • 5 Days on Market
  • MLS # : 2223749
  • Updated Date : 08/24/2020 at 15:28
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,578 sqft
  • Baths : 2 full
Listing Agent

Coldwell Banker Premier

Listing Agent's Description

WELCOME HOME! This beautiful home is waiting for you! Nestled in a gated community, this 2,578 sqft home boasts tons of upgrades including a water softener, beautiful granite countertops in kitchen and real wood floor in family room. There is a HUGE upstairs loft (easily converted to 5 and 6 bedroom)! 3 big bedrooms upstairs and a perfectly situated downstairs bedroom too! Check out the HUGE backyard with spacious room for entertaining, perfect space for a pool. Enjoy a convenient location just minutes from Aliante. Come see the home you've been waiting for, it won't last on the market!

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • As the largest share, Las Vegas metro contributes to 75.1% of Nevada state's economy i.e. Gross State Product (USMayors.org, 2018)

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
 

$315,000$385,000$350,000

PURCHASE PRICE

$1,458$1,782$1,620

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-$5.0k$0.0$5.0k$10k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,620
EXPENSES Loan Payment -$1,291
Property Tax -$256
Property Insurance -$77
HOA -$80
Property Management Fees -$119
CASH FLOW
-$204

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.

$350,000

PROJECTED PRICE

$1,620

PROJECTED RENT

0.46%

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$98,500

INVESTMENT

$98,500

Down Payment
$87,500
Rehab Estimate
$5,750
Closing Costs
$5,250

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,291

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $87,500
Loan Amount $262,500
See What Happens When You Reinvest Cash Flow

2.83

YEARS SAVED

$9,194

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,620

    LIST RENT
  • $0.63

    LIST RENT PER SQFT
  • $1,805

    COMP ESTIMATED VALUE
  • $0.7

    COMP AVG. RENT PER SQFT
Comps Range
$1,620
1$1,6202$1,6653$1,8004$1,8255$2,015
$2,015
RENT COMPS ANALYSIS
  • 5016 Morning Falls Avenue Las Vegas, NV 1
    • 4 beds 2 baths ∙ 2,578 Sqft ∙ Built 2001 4 beds 2 baths ∙ 2,578 Sqft ∙ Built 2001
    • Rent
    • Rent Per SQFT
    •  
    • $1,620
    • $0.63
    •  
  • 4926 Chest Park Avenue Las Vegas, NV 2
    • 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
    •  
  • 4904 Cascade Pools Avenue Las Vegas, NV 3
    • 4 beds 2 baths ∙ 2,578 Sqft ∙ Built 2001 4 beds 2 baths ∙ 2,578 Sqft ∙ Built 2001
    LEASED 10/31/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $0.70
    •  
  • 8012 San Mateo Street North Las Vegas, NV 4
    • 4 beds 2 baths ∙ 2,474 Sqft ∙ Built 2008 4 beds 2 baths ∙ 2,474 Sqft ∙ Built 2008
    LEASED 03/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,825
    • $0.74
    •  
  • 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
Casey Wheeler
1.815.342.2312
Coldwell Banker Premier
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2223749
Last Updated: 08/24/2020
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