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5057 Piney Summit Avenue Las Vegas, NV 89141

3 Beds 3 Baths 1,977 sqft Built 2006

$375,000

List Price

$1,680

$1.5K - $1.8K

Rent Est.

PROPERTY INFO

February 12, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2006
  • Price/Sqft : $189.68
  • 7 Days on Market
  • MLS # : 2268797
  • Updated Date : 02/13/2021 at 17:10
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,977 sqft
  • Baths : 2 full , 1 half
Listing Agent

Homie Llc

Listing Agent's Description

Incredible 3 bed/2.5 bath plus den available in Southern Highlands. Excellent southwest location minutes from freeways, shopping and restaurants. Rare tri-level floor plan with foyer entrance, primary bedroom and open concept kitchen/dining/family room on the upper level and 2 bedrooms plus second living area downstairs. Immaculately maintained with vaulted ceilings, plantation shutters, custom paint tones, a custom built-in entertainment center, and tile and carpet in all of the right places, tons of upgrades! Beautiful granite kitchen features gas cooking, a pantry, and an island/breakfast bar. Owners suite includes a private ensuite with separate soaking tub and shower. 2 car garage and a secluded backyard with covered patio. Enjoy breathtaking mountain views from the balcony. Don´t miss it. Solar will be owned and the loan must be assumed with Home purchase.

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: Southern Highlands

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320k340k360k380k400kPrice in $119k410k

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

Neighborhood: Southern Highlands

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
Evelyn Stuckey Elementary School Primary Regular 949 46 8
Lois And Jerry Tarkanian Middle School Middle Regular 1,739 71 NA
Desert Oasis High School High Regular 2,417 102 5

Evelyn Stuckey Elementary School

  • Education Level: Primary
  • # of students: 949
  • # of teachers: 46
8
GreatSchools Rating

Lois And Jerry Tarkanian Middle School

  • Education Level: Middle
  • # of students: 1,739
  • # of teachers: 71
NA
GreatSchools Rating

Desert Oasis High School

  • Education Level: High
  • # of students: 2,417
  • # of teachers: 102
5
GreatSchools Rating
 

$337,500$412,500$375,000

PURCHASE PRICE

$1,512$1,848$1,680

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,680
EXPENSES Loan Payment -$1,303
Property Tax -$235
Property Insurance -$65
Property Management Fees -$119
CASH FLOW
-$42

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.

$375,000

PROJECTED PRICE

$1,680

PROJECTED RENT

0.45%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.05%
Appreciation Year (1-5) 8.0%
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

PROJECTED ANNUAL CASH FLOW

11530$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$105,125

INVESTMENT

$105,125

Down Payment
$93,750
Rehab Estimate
$5,750
Closing Costs
$5,625

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 50% down payment or higher enables the proceeds from the asset to cover all costs.

$1,303

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $93,750
Loan Amount $281,250
See What Happens When You Reinvest Cash Flow

5.33

YEARS SAVED

$21,282

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,680

    LIST RENT
  • $0.85

    LIST RENT PER SQFT
  • $1,695

    COMP ESTIMATED VALUE
  • $0.86

    COMP AVG. RENT PER SQFT
Comps Range
$1,595
1$1,5952$1,6803$1,7004$1,7505$1,895
$1,895
RENT COMPS ANALYSIS
  • 5057 Piney Summit Avenue Las Vegas, NV 2
    • 3 beds 3 baths ∙ 1,977 Sqft ∙ Built 2006 3 beds 3 baths ∙ 1,977 Sqft ∙ Built 2006
    • Rent
    • Rent Per SQFT
    •  
    • $1,680
    • $0.85
    •  
  • 5165 Piney Summit Avenue Las Vegas, NV 1
    • 3 beds 3 baths ∙ 1,978 Sqft ∙ Built 2005 3 beds 3 baths ∙ 1,978 Sqft ∙ Built 2005
    LEASED 12/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $0.81
    •  
  • 11184 Star Lily Street Las Vegas, NV 3
    • 4 beds 3 baths ∙ 2,079 Sqft ∙ Built 2005 4 beds 3 baths ∙ 2,079 Sqft ∙ Built 2005
    LEASED 11/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $0.82
    •  
  • 5018 Quiet Falls Court Las Vegas, NV 4
    • 3 beds 3 baths ∙ 1,977 Sqft ∙ Built 2006 3 beds 3 baths ∙ 1,977 Sqft ∙ Built 2006
    LEASED 03/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.89
    •  
  • 5113 Ivy Creek Court Las Vegas, NV 5
    • 3 beds 3 baths ∙ 2,079 Sqft ∙ Built 2005 3 beds 3 baths ∙ 2,079 Sqft ∙ Built 2005
    LEASED 02/08/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,895
    • $0.91
    •  
PROPERTY LISTING DETAILS
Karen Gradington
1.702.301.9130
Homie Llc
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2268797
Last Updated: 02/13/2021
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