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5088 Shadow Mist Court Las Vegas, NV 89148

3 Beds 3 Baths 2,644 sqft Built 2002

INVESTimate

$480,000

List Price

$2,190

$1,971 - $2,409

Rent Est.

$522,192  ( +8.79%)   1 YR EST. FORECAST

PROPERTY INFO

FACTS
  • Built In 2002
  • Price/Sqft : $181.54
  • 38 Days on Market
  • MLS # : 2212324
  • Updated Date : 08/21/2020 at 11:22
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,644 sqft
  • Baths : 2 full , 1 half
Listing Agent

Platinum R.e. Professionals

Listing Agent's Description

WHOA NELLY ONE STORY 3 CAR GARAGE SUPER RARE FIND IN THIS HISTORIC HOME SHORTAGE ONLY GETTING WORSE WITH MORTGAGE FORBEARANCE PROGRAMS BUY NOW. Beautiful entry leads you to nice open floor plan with gourmet like kitchen that overlooks the entertainment room. Take a stroll out back and create your own mini oasis in the desert. The master can be your own mini penthouse with spa like master bathroom. Large secondary rooms. A CALIFORNIA EXODUS FAVORITE DONT DELAY ACT TODAY.

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MARKET HIGHLIGHTS

  • 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)
  • 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)

PRICE & RENT TRENDS

Neighborhood: Rhodes Ranch

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320kPrice in $119k339k

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

Neighborhood: Rhodes Ranch

NeighborhoodNIR Market*CityMarket2010Year20002019 Q211001200130014001500160017001800Rent in $10551829

* 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
Lucille Rogers Elementary School Primary Regular 775 43 9
Victoria Fertitta Middle School Middle Regular 1,472 60 NA
Durango High School High Regular 2,302 95 5

Lucille Rogers Elementary School

  • Education Level: Primary
  • # of students: 775
  • # of teachers: 43
9
GreatSchools Rating

Victoria Fertitta Middle School

  • Education Level: Middle
  • # of students: 1,472
  • # of teachers: 60
NA
GreatSchools Rating

Durango High School

  • Education Level: High
  • # of students: 2,302
  • # of teachers: 95
5
GreatSchools Rating
 

$432,000$528,000$480,000

PURCHASE PRICE

$1,971$2,409$2,190

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$1.4M$1.6M

PROJECTED ANNUAL CASH FLOW

11530-$5.0k$0.0$5.0k$10k$15k$20k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M$1.6M

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,190
EXPENSES Loan Payment -$1,771
Property Tax -$302
Property Insurance -$78
HOA -$23
Property Management Fees -$119
CASH FLOW
-$104

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.

$480,000

PROJECTED PRICE

$2,190

PROJECTED RENT

0.46%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.96%
Appreciation Year (1-5) 8.79%
Maintenance Year (1-5) 8.00%
Vacancy 7.63%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$132,950

INVESTMENT

$132,950

Down Payment
$120,000
Rehab Estimate
$5,750
Closing Costs
$7,200

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,771

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $120,000
Loan Amount $360,000
See What Happens When You Reinvest Cash Flow

4.67

YEARS SAVED

$27,642

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,190

    LIST RENT
  • $0.83

    LIST RENT PER SQFT
  • $2,201

    COMP ESTIMATED VALUE
  • $0.83

    COMP AVG. RENT PER SQFT
Comps Range
$2,100
1$2,1002$2,1003$2,1504$2,1905$2,200
$2,200
RENT COMPS ANALYSIS
  • 5088 Shadow Mist Court Las Vegas, NV 4
    • 3 beds 3 baths ∙ 2,644 Sqft ∙ Built 2002 3 beds 3 baths ∙ 2,644 Sqft ∙ Built 2002
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,190
    • $0.83
    •  
  • 5385 Alden Glen Drive Las Vegas, NV 1
    • 3 beds 3 baths ∙ 2,542 Sqft ∙ Built 2009 3 beds 3 baths ∙ 2,542 Sqft ∙ Built 2009
    property image
    LEASED 11/27/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $0.83
    •  
  • 10033 Canyon Dunes Avenue Las Vegas, NV 2
    • 4 beds 2 baths ∙ 2,454 Sqft ∙ Built 2001 4 beds 2 baths ∙ 2,454 Sqft ∙ Built 2001
    property image
    LEASED 12/02/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $0.86
    •  
  • 9943 Shadymill Las Vegas, NV 3
    • 3 beds 3 baths ∙ 2,644 Sqft ∙ Built 2001 3 beds 3 baths ∙ 2,644 Sqft ∙ Built 2001
    property image
    LEASED 08/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,150
    • $0.81
    •  
  • 5207 Ridge Heights Street Las Vegas, NV 5
    • 3 beds 3 baths ∙ 2,644 Sqft ∙ Built 2001 3 beds 3 baths ∙ 2,644 Sqft ∙ Built 2001
    property image
    LEASED 01/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $0.83
    •  
PROPERTY LISTING DETAILS
Steve P Hawks
1.702.617.4637
Platinum R.e. Professionals
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2212324
Last Updated: 08/21/2020
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