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508 Pinnacle Heights Lane Las Vegas, NV 89144

5 Beds 3 Baths 3,666 sqft Built 2000

$1,120,000

List Price

$4,000

$3.8K - $4.3K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
July 13, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2000
  • Price/Sqft : $305.51
  • 1 Days on Market
  • MLS # : 2314333
  • Updated Date : 07/13/2021 at 19:11
CONSTRUCTION
  • Beds : 5
  • Floor Size : 3,666 sqft
  • Baths : 2 full , 1 half
Listing Agent

First United Management Group

Listing Agent's Description

GORGEOUS 5 BEDROOM HOME IN EXCLUSIVE GUARD GATED COMMUNITY OF EAGLE ROCK. SPACIOUS FLOOR PLAN WITH VAULTED CEILINGS IN LIVING ROOM WITH FORMAL DINING ROOM. SEPERATE FAMILY ROOM WITH GAS FIREPLACE. LARGE KITCHEN WITH TONS OF COUNTER SPACE, GRANITE ISLAND, BRK BAR & WALK IN PANTRY. ONE BEDROOM & BATH DOWNSTAIRS. PRIMARY BEDROOM UPSTAIRS WITH BALCONY & WALK IN CLOSET. PRIMARY BATH HAS 2WAY FIRE PLACE WITH DUAL SINKS, SEPERATE SHOWER & TUB. THE REMAINING 3 LARGE BEDROOMS UPSTAIRS. THE BACKYARD WITH COVERED PATIO, MATURE LANDSCAPING & REAR LAWN COMPLETES THIS BEAUTIFUL HOME.

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MARKET HIGHLIGHTS

  • 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)
  • 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)

PRICE & RENT TRENDS

Neighborhood: The Canyons

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450k500k550k600k650k700kPrice in $119k728k

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

Neighborhood: The Canyons

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21500200025003000350040004500Rent in $10764605

* 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
John W. Bonner Elementary School Primary Regular 859 47 10
Sig Rogich Middle School Middle Regular 1,845 70 NA
Palo Verde High School High Regular 3,024 114 9

John W. Bonner Elementary School

  • Education Level: Primary
  • # of students: 859
  • # of teachers: 47
10
GreatSchools Rating

Sig Rogich Middle School

  • Education Level: Middle
  • # of students: 1,845
  • # of teachers: 70
NA
GreatSchools Rating

Palo Verde High School

  • Education Level: High
  • # of students: 3,024
  • # of teachers: 114
9
GreatSchools Rating
 

$1,008,000$1,232,000$1,120,000

PURCHASE PRICE

$3,600$4,400$4,000

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $4,000
EXPENSES Loan Payment -$3,890
Property Tax -$565
Property Insurance -$98
HOA -$194
Property Management Fees -$119
CASH FLOW
-$866

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.

$1,120,000

PROJECTED PRICE

$4,000

PROJECTED RENT

0.36%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.05%
Appreciation Year (1-5) 1.3%
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$500k$1.0M$1.5M$2.0M$2.5M

PROJECTED ANNUAL CASH FLOW

11530-$20k-$10k$0.0$10k$20k$30k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$500k$1.0M$1.5M$2.0M$2.5M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$302,550

INVESTMENT

$302,550

Down Payment
$280,000
Rehab Estimate
$5,750
Closing Costs
$16,800

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$3,890

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $280,000
Loan Amount $840,000
See What Happens When You Reinvest Cash Flow

1.83

YEARS SAVED

$13,202

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $0

    LIST RENT
  • $0

    LIST RENT PER SQFT
  • $3,950

    COMP ESTIMATED VALUE
  • $1.08

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$3,4003$3,5004$4,0405$4,500
$4,500
RENT COMPS ANALYSIS
  • 508 Pinnacle Heights Lane Las Vegas, NV 1
    • 5 beds 3 baths ∙ 3,666 Sqft ∙ Built 2000 5 beds 3 baths ∙ 3,666 Sqft ∙ Built 2000
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 2009 Oak River Street Las Vegas, NV 2
    • 4 beds 1 baths ∙ 3,653 Sqft ∙ Built 1996 4 beds 1 baths ∙ 3,653 Sqft ∙ Built 1996
    property image
    LEASED 11/26/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,400
    • $0.93
    •  
  • 9725 Gavin Stone Avenue Las Vegas, NV 3
    • 4 beds 4 baths ∙ 3,425 Sqft ∙ Built 1997 4 beds 4 baths ∙ 3,425 Sqft ∙ Built 1997
    property image
    LEASED 08/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,500
    • $1.02
    •  
  • 612 Pinnacle Heights Lane Las Vegas, NV 4
    • 6 beds 2 baths ∙ 3,532 Sqft ∙ Built 2000 6 beds 2 baths ∙ 3,532 Sqft ∙ Built 2000
    property image
    LEASED 08/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $4,040
    • $1.14
    •  
  • 9800 Camden Hills Avenue Las Vegas, NV 5
    • 5 beds 2 baths ∙ 3,679 Sqft ∙ Built 1997 5 beds 2 baths ∙ 3,679 Sqft ∙ Built 1997
    property image
    LEASED 03/31/21
    • Rent
    • Rent Per SQFT
    •  
    • $4,500
    • $1.22
    •  
PROPERTY LISTING DETAILS
Arik Raiter
1.702.355.3977
First United Management Group
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2314333
Last Updated: 07/13/2021
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