Work with a dedicated Real Estate Advisor who will take your financial preferences and help you select and acquire properties that fit your criteria. Learn more

5208 Melbourne Ridge Court Las Vegas, NV 89141

3 Beds 3 Baths 1,770 sqft Built 2003

$310,000

List Price

$1,580

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

November 08, 2020 RECENTLY ADDED
FACTS
  • Built In 2003
  • Price/Sqft : $175.14
  • 2 Days on Market
  • MLS # : 2246697
  • Updated Date : 11/07/2020 at 17:30
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,770 sqft
  • Baths : 2 full , 1 half
Listing Agent

Re/max Advantage

Listing Agent's Description

3 bedroom 3 ba property with custom touches on a cul-de-sac in Southern Highlands*full bed and bath downstairs*additional family room downstairs*open kitchen w/dining room and living area*master bedroom w/walk in closet*backyard patio*2 car garage*

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
 

$279,000$341,000$310,000

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 -$1,144
Property Tax -$195
Property Insurance -$61
Property Management Fees -$119
CASH FLOW
$61

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.

$310,000

PROJECTED PRICE

$1,580

PROJECTED RENT

0.51%

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

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$87,900

INVESTMENT

$87,900

Down Payment
$77,500
Rehab Estimate
$5,750
Closing Costs
$4,650

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,144

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $77,500
Loan Amount $232,500
See What Happens When You Reinvest Cash Flow

7.25

YEARS SAVED

$31,674

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
  • $0.89

    LIST RENT PER SQFT
  • $1,584

    COMP ESTIMATED VALUE
  • $0.9

    COMP AVG. RENT PER SQFT
Comps Range
$1,580
1$1,5802$1,6003$1,6254$1,6955$1,800
$1,800
RENT COMPS ANALYSIS
  • 5208 Melbourne Ridge Court Las Vegas, NV 1
    • 3 beds 3 baths ∙ 1,770 Sqft ∙ Built 2003 3 beds 3 baths ∙ 1,770 Sqft ∙ Built 2003
    • Rent
    • Rent Per SQFT
    •  
    • $1,580
    • $0.89
    •  
  • 10985 Newcastle Hills Street #n/a Las Vegas, NV 2
    • 4 beds 3 baths ∙ 1,770 Sqft ∙ Built 2004 4 beds 3 baths ∙ 1,770 Sqft ∙ Built 2004
    LEASED 08/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $0.90
    •  
  • 10946 Salernes Street Las Vegas, NV 3
    • 3 beds 3 baths ∙ 1,930 Sqft ∙ Built 2001 3 beds 3 baths ∙ 1,930 Sqft ∙ Built 2001
    LEASED 01/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,625
    • $0.84
    •  
  • 10964 Salernes Las Vegas, NV 4
    • 3 beds 2 baths ∙ 1,858 Sqft ∙ Built 2001 3 beds 2 baths ∙ 1,858 Sqft ∙ Built 2001
    LEASED 04/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $0.91
    •  
  • 11153 Montagne Marron Boulevard Las Vegas, NV 5
    • 3 beds 3 baths ∙ 1,930 Sqft ∙ Built 2001 3 beds 3 baths ∙ 1,930 Sqft ∙ Built 2001
    LEASED 08/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $0.93
    •  
PROPERTY LISTING DETAILS
Sandra L Thomas
1.702.480.9918
Re/max Advantage
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2246697
Last Updated: 11/07/2020
BESbswy