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5030 Lark Canyon Court North Las Vegas, NV 89031

3 Beds 2 Baths 1,509 sqft Built 1994

INVESTimate

$295,000

List Price

$1,210

$1,089 - $1,331

Rent Est.

$326,890  ( +10.81%)   1 YR EST. FORECAST

PROPERTY INFO

August 21, 2020 RECENTLY ADDED
FACTS
  • Built In 1994
  • Price/Sqft : $195.49
  • 6 Days on Market
  • MLS # : 2223903
  • Updated Date : 08/21/2020 at 14:30
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,509 sqft
  • Baths : 2 full
Listing Agent

Pegasus Properties

Listing Agent's Description

Great floor plan, fenced dog run, Great Corner lot, All appliances stay, 2 sided fireplace, Bay window.

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: Pageantry - Summer Breeze

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260k280kPrice in $84k296k

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

Neighborhood: Pageantry - Summer Breeze

NeighborhoodNIR Market*CityMarket2010Year20002019 Q29501000105011001150120012501300135014001450150015501600Rent in $9031603

* 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
Addeliar Guy Elementary School Primary Regular 641 35 5
Theron L. Swainston Middle School Middle Regular 1,146 52 NA
Cheyenne High School High Regular 2,212 91 2

Addeliar Guy Elementary School

  • Education Level: Primary
  • # of students: 641
  • # of teachers: 35
5
GreatSchools Rating

Theron L. Swainston Middle School

  • Education Level: Middle
  • # of students: 1,146
  • # of teachers: 52
NA
GreatSchools Rating

Cheyenne High School

  • Education Level: High
  • # of students: 2,212
  • # of teachers: 91
2
GreatSchools Rating
 

$265,500$324,500$295,000

PURCHASE PRICE

$1,089$1,331$1,210

RENT

DOWN PAYMENT
FINANCING

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

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

PROJECTED ANNUAL CASH FLOW

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

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 $1,210
EXPENSES Loan Payment -$1,088
Property Tax -$184
Property Insurance -$56
Property Management Fees -$119
CASH FLOW
-$238

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 17% of earned rent to cover both maintenance and periods of vacancy.

$295,000

PROJECTED PRICE

$1,210

PROJECTED RENT

0.41%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.75%
Appreciation Year (1-5) 10.81%
Maintenance Year (1-5) 8.00%
Vacancy 8.50%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$83,925

INVESTMENT

$83,925

Down Payment
$73,750
Rehab Estimate
$5,750
Closing Costs
$4,425

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,088

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $73,750
Loan Amount $221,250
See What Happens When You Reinvest Cash Flow

2

YEARS SAVED

$4,153

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,210

    LIST RENT
  • $0.8

    LIST RENT PER SQFT
  • $1,324

    COMP ESTIMATED VALUE
  • $0.88

    COMP AVG. RENT PER SQFT
Comps Range
$1,210
1$1,2102$1,3953$1,3954$1,4005$1,450
$1,450
RENT COMPS ANALYSIS
  • 5030 Lark Canyon Court North Las Vegas, NV 1
    • 3 beds 2 baths ∙ 1,509 Sqft ∙ Built 1994 3 beds 2 baths ∙ 1,509 Sqft ∙ Built 1994
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,210
    • $0.80
    •  
  • 4515 Grotto Court North Las Vegas, NV 2
    • 3 beds 3 baths ∙ 1,596 Sqft ∙ Built 2001 3 beds 3 baths ∙ 1,596 Sqft ∙ Built 2001
    property image
    LEASED 01/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,395
    • $0.87
    •  
  • 4217 San Rocco Court #0 North Las Vegas, NV 3
    • 3 beds 2 baths ∙ 1,599 Sqft ∙ Built 2003 3 beds 2 baths ∙ 1,599 Sqft ∙ Built 2003
    property image
    LEASED 07/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,395
    • $0.87
    •  
  • 5258 Cedar Bridge Court #0 North Las Vegas, NV 4
    • 3 beds 3 baths ∙ 1,606 Sqft ∙ Built 2001 3 beds 3 baths ∙ 1,606 Sqft ∙ Built 2001
    property image
    LEASED 10/18/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,400
    • $0.87
    •  
  • 5277 Toro Creek Court #0 North Las Vegas, NV 5
    • 3 beds 3 baths ∙ 1,606 Sqft ∙ Built 2001 3 beds 3 baths ∙ 1,606 Sqft ∙ Built 2001
    property image
    LEASED 10/15/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $0.90
    •  
PROPERTY LISTING DETAILS
Kenneth E Hopkins
1.702.525.7612
Pegasus Properties
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2223903
Last Updated: 08/21/2020
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