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5134 Echo Shire Avenue Las Vegas, NV 89141

3 Beds 3 Baths 1,556 sqft Built 2005

$335,000

List Price

$1,580

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

November 06, 2020 RECENTLY ADDED
FACTS
  • Built In 2005
  • Price/Sqft : $215.30
  • 7 Days on Market
  • MLS # : 2243154
  • Updated Date : 11/07/2020 at 11:10
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,556 sqft
  • Baths : 2 full , 1 half
Listing Agent

Principle Realty Advisors

Listing Agent's Description

If you're looking for some serious backyard space, look no further! This open floor plan 2-story home boasts a multi-level pool size lot in the desirable neighborhood of Southern Highlands. Updated interior with travertine, tile & wood laminate flooring, fresh interior/exterior paint, first floor plantation shutters, granite tile countertops, LG stainless-steel kitchen appliances, gas fireplace and beautiful vaulted living room ceiling. Primary bedroom with en suite bathroom, walk-in closet and private balcony. Newly installed water softener, water heater, A/C unit and smart thermostat. Flagstone steps in the backyard lead up to second tier fire pit. Don't wait, schedule your viewing today!

SEE MORE

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: 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
 

$301,500$368,500$335,000

PURCHASE PRICE

$1,422$1,738$1,580

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,580
EXPENSES Loan Payment -$1,236
Property Tax -$210
Property Insurance -$57
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.

$335,000

PROJECTED PRICE

$1,580

PROJECTED RENT

0.47%

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$94,525

INVESTMENT

$94,525

Down Payment
$83,750
Rehab Estimate
$5,750
Closing Costs
$5,025

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,236

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $83,750
Loan Amount $251,250
See What Happens When You Reinvest Cash Flow

5.5

YEARS SAVED

$23,162

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,580

    LIST RENT
  • $1.02

    LIST RENT PER SQFT
  • $1,634

    COMP ESTIMATED VALUE
  • $1.05

    COMP AVG. RENT PER SQFT
Comps Range
$1,495
1$1,4952$1,5753$1,5804$1,5955$1,600
$1,600
RENT COMPS ANALYSIS
  • 5134 Echo Shire Avenue Las Vegas, NV 3
    • 3 beds 3 baths ∙ 1,556 Sqft ∙ Built 2005 3 beds 3 baths ∙ 1,556 Sqft ∙ Built 2005
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,580
    • $1.02
    •  
  • 11085 Cusumano Las Vegas, NV 1
    • 3 beds 2 baths ∙ 1,405 Sqft ∙ Built 2003 3 beds 2 baths ∙ 1,405 Sqft ∙ Built 2003
    property image
    LEASED 06/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,495
    • $1.06
    •  
  • 11068 Vallerosa Street Las Vegas, NV 2
    • 3 beds 2 baths ∙ 1,521 Sqft ∙ Built 2003 3 beds 2 baths ∙ 1,521 Sqft ∙ Built 2003
    property image
    LEASED 12/16/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,575
    • $1.04
    •  
  • 4912 Perrone Avenue #0 Las Vegas, NV 4
    • 4 beds 2 baths ∙ 1,521 Sqft ∙ Built 2002 4 beds 2 baths ∙ 1,521 Sqft ∙ Built 2002
    property image
    LEASED 10/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $1.05
    •  
  • 11077 Cresco Las Vegas, NV 5
    • 4 beds 2 baths ∙ 1,521 Sqft ∙ Built 2002 4 beds 2 baths ∙ 1,521 Sqft ∙ Built 2002
    property image
    LEASED 06/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $1.05
    •  
PROPERTY LISTING DETAILS
Kristin Mill
1.702.279.3698
Principle Realty Advisors
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2243154
Last Updated: 11/07/2020
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