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5193 Miller Lane Las Vegas, NV 89149

3 Beds 4 Baths 3,446 sqft Built 2001

$799,990

List Price

$2,930

$2.7K - $3.2K

Rent Est.

PROPERTY INFO

January 21, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2001
  • Price/Sqft : $232.15
  • 5 Days on Market
  • MLS # : 2262233
  • Updated Date : 01/24/2021 at 04:29
CONSTRUCTION
  • Beds : 3
  • Floor Size : 3,446 sqft
  • Baths : 3 full , 1 half
Listing Agent

South West Realty Las Vegas

Listing Agent's Description

Northwest Rural Preservation Gem! 3,446sf Single-Story Custom-Built home on ½ acre Cul-De-Sac Lot w/NO HOA! Homesite welcomes all RV/Boat/toys w/36’ RV Cover storage, 18.5’ Rolling Security Gate, 16x28 shop w/ roll-up garage door perfect for ATV/side by sides. This meticulously maintained 3-beds, 3.5-baths, features inviting custom double glass doors, high 12’ ceilings, two-tone cabinets w/granite, and gourmet chef’s kitchen. Entertainment area w/billiard room w/built in bar tops and separate 2nd living room. All beds function as masters w/in suite bathrooms, custom tile surrounds and counter tops plus ample walk-in closets. Exquisite mature and groomed landscaping w/fruit and citrus producing trees, large grassy area great for pets and kids, PET FRIENDLY w/enclosed dog-run and 1 of a kind doggie door-house all while relaxing under your large, covered patio. Move-in- Ready for the recreational enthusiasts who wants to enjoy a serene lifestyle uninhibited by any HOAs rules

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: Centennial Hills

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320k340k360kPrice in $119k362k

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

Neighborhood: Centennial Hills

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
Ruthe Deskin Elementary School Primary Regular 624 36 6
Justice M E Leavitt Middle School Middle Regular 1,496 64 NA
Centennial High School High Regular 3,055 124 6

Ruthe Deskin Elementary School

  • Education Level: Primary
  • # of students: 624
  • # of teachers: 36
6
GreatSchools Rating

Justice M E Leavitt Middle School

  • Education Level: Middle
  • # of students: 1,496
  • # of teachers: 64
NA
GreatSchools Rating

Centennial High School

  • Education Level: High
  • # of students: 3,055
  • # of teachers: 124
6
GreatSchools Rating
 

$719,991$879,989$799,990

PURCHASE PRICE

$2,637$3,223$2,930

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,930
EXPENSES Loan Payment -$2,779
Property Tax -$398
Property Insurance -$94
Property Management Fees -$119
CASH FLOW
-$460

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.

$799,990

PROJECTED PRICE

$2,930

PROJECTED RENT

0.37%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.05%
Appreciation Year (1-5) 10.3%
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-$10k-$5.0k$0.0$5.0k$10k$15k$20k$25k$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$217,747

INVESTMENT

$217,747

Down Payment
$199,998
Rehab Estimate
$5,750
Closing Costs
$12,000

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,779

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $199,998
Loan Amount $599,993
See What Happens When You Reinvest Cash Flow

3

YEARS SAVED

$18,689

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,930

    LIST RENT
  • $0.85

    LIST RENT PER SQFT
  • $2,929

    COMP ESTIMATED VALUE
  • $0.85

    COMP AVG. RENT PER SQFT
Comps Range
$2,800
1$2,8002$2,9003$2,9304$3,2005$3,300
$3,300
RENT COMPS ANALYSIS
  • 5193 Miller Lane Las Vegas, NV 3
    • 3 beds 4 baths ∙ 3,446 Sqft ∙ Built 2001 3 beds 4 baths ∙ 3,446 Sqft ∙ Built 2001
    • Rent
    • Rent Per SQFT
    •  
    • $2,930
    • $0.85
    •  
  • 4556 Clay Peak Drive Las Vegas, NV 1
    • 3 beds 3 baths ∙ 3,293 Sqft ∙ Built 1998 3 beds 3 baths ∙ 3,293 Sqft ∙ Built 1998
    LEASED 10/11/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,800
    • $0.85
    •  
  • 5603 Lusitano Street Las Vegas, NV 2
    • 3 beds 3 baths ∙ 3,604 Sqft ∙ Built 2006 3 beds 3 baths ∙ 3,604 Sqft ∙ Built 2006
    LEASED 07/30/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,900
    • $0.80
    •  
  • 8370 Helena Avenue Las Vegas, NV 4
    • 4 beds 3 baths ∙ 3,617 Sqft ∙ Built 2013 4 beds 3 baths ∙ 3,617 Sqft ∙ Built 2013
    LEASED 08/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,200
    • $0.88
    •  
  • 4724 El Presidente Drive Las Vegas, NV 5
    • 4 beds 4 baths ∙ 3,781 Sqft ∙ Built 2004 4 beds 4 baths ∙ 3,781 Sqft ∙ Built 2004
    LEASED 01/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,300
    • $0.87
    •  
PROPERTY LISTING DETAILS
Eugene K Yazzie
1.702.860.9155
South West Realty Las Vegas
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2262233
Last Updated: 01/24/2021
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