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516 Port Hope Place Las Vegas, NV 89144

3 Beds 3 Baths 1,859 sqft Built 1999

$409,000

List Price

$1,710

$1.5K - $1.9K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
February 15, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1999
  • Price/Sqft : $220.01
  • 8 Days on Market
  • MLS # : 2270207
  • Updated Date : 02/15/2021 at 22:30
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,859 sqft
  • Baths : 2 full , 1 half
Listing Agent

Realty One Group, Inc

Listing Agent's Description

ONLY HOME AVAIL IN "CRIMSON RIDGE" SUBDIV * SUMMERLIN 2 STORY W/OVERSIZED LOT WITH 3 BED & 2 LOFT SPACES (ONE AT TOP OF STAIRS THAT COULD BE OFFICE, EXERCISE RM ETC AS WELL AS ANOTHER BONUS LOFT ROOM SPACE) * ALL APPLIANCES STAY INCL REFRIG, WASHER & DRYER & MICROWAVE * BUILT-IN WINDOW SEAT IN KITCHEN * BONUS STORAGE UNDER STAIRS * BONUS LOFT ROOM HAS BUILT-IN STORAGE SPACE * 2" WOODBLINDS * CEILING FANS IN ALL ROOMS * LOTS OF STORAGE * SECURITY CAMERAS * PRIVATE YARD * LATTICE COVERED PATIO COVER * SIDE YARD UTILITY SHED WITH ELEC * FIRE PIT * RAISED PLANTER BEDS & MORE

SEE MORE

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 Crossing

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320k340k360kPrice in $119k362k

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

Neighborhood: The Crossing

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
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
 

$368,100$449,900$409,000

PURCHASE PRICE

$1,539$1,881$1,710

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,710
EXPENSES Loan Payment -$1,421
Property Tax -$245
Property Insurance -$63
Property Management Fees -$119
CASH FLOW
-$138

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.

$409,000

PROJECTED PRICE

$1,710

PROJECTED RENT

0.42%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.05%
Appreciation Year (1-5) 9.1%
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$1.4M

PROJECTED ANNUAL CASH FLOW

11530-$5.0k$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$1.4M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$114,135

INVESTMENT

$114,135

Down Payment
$102,250
Rehab Estimate
$5,750
Closing Costs
$6,135

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$1,421

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $102,250
Loan Amount $306,750
See What Happens When You Reinvest Cash Flow

4.17

YEARS SAVED

$16,149

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,710

    LIST RENT
  • $0.92

    LIST RENT PER SQFT
  • $1,822

    COMP ESTIMATED VALUE
  • $0.98

    COMP AVG. RENT PER SQFT
Comps Range
$1,600
1$1,6002$1,7003$1,7104$1,8005$1,995
$1,995
RENT COMPS ANALYSIS
  • 516 Port Hope Place Las Vegas, NV 3
    • 3 beds 3 baths ∙ 1,859 Sqft ∙ Built 1999 3 beds 3 baths ∙ 1,859 Sqft ∙ Built 1999
    • Rent
    • Rent Per SQFT
    •  
    • $1,710
    • $0.92
    •  
  • 10412 Shadowland Las Vegas, NV 1
    • 4 beds 3 baths ∙ 1,671 Sqft ∙ Built 1997 4 beds 3 baths ∙ 1,671 Sqft ∙ Built 1997
    LEASED 03/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $0.96
    •  
  • 605 Crimson View Place Las Vegas, NV 2
    • 3 beds 3 baths ∙ 1,809 Sqft ∙ Built 1998 3 beds 3 baths ∙ 1,809 Sqft ∙ Built 1998
    LEASED 06/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $0.94
    •  
  • 10241 Amber Hue Lane Las Vegas, NV 4
    • 3 beds 3 baths ∙ 1,873 Sqft ∙ Built 1997 3 beds 3 baths ∙ 1,873 Sqft ∙ Built 1997
    LEASED 11/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $0.96
    •  
  • 10413 Niagara Falls Lane Las Vegas, NV 5
    • 3 beds 2 baths ∙ 1,884 Sqft ∙ Built 1999 3 beds 2 baths ∙ 1,884 Sqft ∙ Built 1999
    LEASED 01/07/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,995
    • $1.06
    •  
PROPERTY LISTING DETAILS
Julie H Austin
1.702.610.9594
Realty One Group, Inc
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2270207
Last Updated: 02/15/2021
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