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5113 Desert Lily Lane Las Vegas, NV 89130

3 Beds 3 Baths 3,064 sqft Built 1996

$450,000

List Price

$2,310

$2.1K - $2.5K

Rent Est.

PROPERTY INFO

FACTS
  • Built In 1996
  • Price/Sqft : $146.87
  • 12 Days on Market
  • MLS # : 2244320
  • Updated Date : 11/06/2020 at 02:30
CONSTRUCTION
  • Beds : 3
  • Floor Size : 3,064 sqft
  • Baths : 2 full , 1 half
Listing Agent

Vegas Edge Realty, Llc

Listing Agent's Description

Talk about a Diamond in the Rough! From the private courtyard through the double door entry, you will find a formal living and dining room 2 fireplaces, floor to ceiling oversized windows that allow the full view of the back yard and GOLF course! The kitchen has a double oven with a stove top in the island. The home has three oversized bedrooms with 2 full baths and one half. The backyard is fully fenced with a full sized patio and cover. Home is equipped with solar and buyer will have to assume the lease.

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MARKET HIGHLIGHTS

  • 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)
  • 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)

PRICE & RENT TRENDS

Neighborhood: Los Prados

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320kPrice in $119k336k

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

Neighborhood: Los Prados

NeighborhoodNIR Market*CityMarket2010Year20002019 Q211001150120012501300135014001450150015501600Rent in $10621606

* 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
Ernest May Elementary School Primary Regular 665 33 8
Theron L. Swainston Middle School Middle Regular 1,146 52 NA
Shadow Ridge High School High Regular 2,697 105 6

Ernest May Elementary School

  • Education Level: Primary
  • # of students: 665
  • # of teachers: 33
8
GreatSchools Rating

Theron L. Swainston Middle School

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

Shadow Ridge High School

  • Education Level: High
  • # of students: 2,697
  • # of teachers: 105
6
GreatSchools Rating
 

$405,000$495,000$450,000

PURCHASE PRICE

$2,079$2,541$2,310

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,310
EXPENSES Loan Payment -$1,660
Property Tax -$332
Property Insurance -$87
Property Management Fees -$119
CASH FLOW
$112

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.

$450,000

PROJECTED PRICE

$2,310

PROJECTED RENT

0.51%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.96%
Appreciation Year (1-5) 9.3%
Maintenance Year (1-5) 8.00%
Vacancy 7.63%
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$1.4M$1.6M$1.8M

PROJECTED ANNUAL CASH FLOW

11530$0.0$5.0k$10k$15k$20k$25k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$125,000

INVESTMENT

$125,000

Down Payment
$112,500
Rehab Estimate
$5,750
Closing Costs
$6,750

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 45% down payment or higher enables the proceeds from the asset to cover all costs.

$1,660

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $112,500
Loan Amount $337,500
See What Happens When You Reinvest Cash Flow

7.25

YEARS SAVED

$46,819

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,310

    LIST RENT
  • $0.75

    LIST RENT PER SQFT
  • $1,769

    COMP ESTIMATED VALUE
  • $0.58

    COMP AVG. RENT PER SQFT
Comps Range
$1,600
1$1,6002$1,7253$1,8504$2,0005$2,310
$2,310
RENT COMPS ANALYSIS
  • 5113 Desert Lily Lane Las Vegas, NV 5
    • 3 beds 3 baths ∙ 3,064 Sqft ∙ Built 1996 3 beds 3 baths ∙ 3,064 Sqft ∙ Built 1996
    • Rent
    • Rent Per SQFT
    •  
    • $2,310
    • $0.75
    •  
  • 4151 Ponce Royal Avenue North Las Vegas, NV 1
    • 4 beds 3 baths ∙ 2,963 Sqft ∙ Built 2006 4 beds 3 baths ∙ 2,963 Sqft ∙ Built 2006
    LEASED 02/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $0.54
    •  
  • 5328 Lochmor Avenue #- Las Vegas, NV 2
    • 3 beds 3 baths ∙ 3,064 Sqft ∙ Built 1989 3 beds 3 baths ∙ 3,064 Sqft ∙ Built 1989
    LEASED 09/13/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,725
    • $0.56
    •  
  • 6061 Paddleboat Street North Las Vegas, NV 3
    • 4 beds 3 baths ∙ 2,961 Sqft ∙ Built 2012 4 beds 3 baths ∙ 2,961 Sqft ∙ Built 2012
    LEASED 06/03/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $0.62
    •  
  • 5405 Coral Gables Drive Las Vegas, NV 4
    • 3 beds 3 baths ∙ 3,369 Sqft ∙ Built 1989 3 beds 3 baths ∙ 3,369 Sqft ∙ Built 1989
    LEASED 05/26/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $0.59
    •  
PROPERTY LISTING DETAILS
Shawna L Sonnenburg
1.702.358.3107
Vegas Edge Realty, Llc
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2244320
Last Updated: 11/06/2020
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