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

5213 Castle Butte Court North Las Vegas, NV 89031

4 Beds 3 Baths 2,211 sqft Built 2002

$359,900

List Price

$1,640

$1.5K - $1.8K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 25, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2002
  • Price/Sqft : $162.78
  • 5 Days on Market
  • MLS # : 2281244
  • Updated Date : 03/24/2021 at 21:30
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,211 sqft
  • Baths : 2 full , 1 half
Listing Agent

Griffin Group Realty

Listing Agent's Description

BEAUTIFUL TWO STORY HOME WITH FOUR BEDROOMS IN A GATED COMMUNITY. OPEN FLOORPLAN WITH LARGE LIVING AND FAMILY ROOM AREA. BIG KITCHEN WITH PLENTY OF CABINET SPACE AND GRANITE COUNTERTOPS. LARGE PRIMARY ROOM AND GOOD SIZE OTHER BEDROOMS.

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: Dove Canyon

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260k280kPrice in $84k296k

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

Neighborhood: Dove Canyon

NeighborhoodNIR Market*CityMarket2010Year20002019 Q29501000105011001150120012501300135014001450150015501600Rent in $9171603

* 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
Addeliar Guy Elementary School Primary Regular 641 35 5
Theron L. Swainston Middle School Middle Regular 1,146 52 NA
Cheyenne High School High Regular 2,212 91 2

Addeliar Guy Elementary School

  • Education Level: Primary
  • # of students: 641
  • # of teachers: 35
5
GreatSchools Rating

Theron L. Swainston Middle School

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

Cheyenne High School

  • Education Level: High
  • # of students: 2,212
  • # of teachers: 91
2
GreatSchools Rating
 

$323,910$395,890$359,900

PURCHASE PRICE

$1,476$1,804$1,640

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,640
EXPENSES Loan Payment -$1,250
Property Tax -$239
Property Insurance -$70
Property Management Fees -$119
CASH FLOW
-$38

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 17% of earned rent to cover both maintenance and periods of vacancy.

$359,900

PROJECTED PRICE

$1,640

PROJECTED RENT

0.46%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.75%
Appreciation Year (1-5) 9.5%
Maintenance Year (1-5) 8.00%
Vacancy 8.50%
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$1.2M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$101,124

INVESTMENT

$101,124

Down Payment
$89,975
Rehab Estimate
$5,750
Closing Costs
$5,399

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,250

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $89,975
Loan Amount $269,925
See What Happens When You Reinvest Cash Flow

4.67

YEARS SAVED

$17,355

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,640

    LIST RENT
  • $0.74

    LIST RENT PER SQFT
  • $1,620

    COMP ESTIMATED VALUE
  • $0.73

    COMP AVG. RENT PER SQFT
Comps Range
$1,540
1$1,5402$1,5503$1,6404$1,6955$1,940
$1,940
RENT COMPS ANALYSIS
  • 5213 Castle Butte Court North Las Vegas, NV 3
    • 4 beds 3 baths ∙ 2,211 Sqft ∙ Built 2002 4 beds 3 baths ∙ 2,211 Sqft ∙ Built 2002
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,640
    • $0.74
    •  
  • 5222 Pioneer Cabin Court Las Vegas, NV 1
    • 4 beds 3 baths ∙ 2,211 Sqft ∙ Built 2003 4 beds 3 baths ∙ 2,211 Sqft ∙ Built 2003
    property image
    LEASED 06/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,540
    • $0.70
    •  
  • 4519 Windham Hills Lane North Las Vegas, NV 2
    • 4 beds 3 baths ∙ 2,211 Sqft ∙ Built 2003 4 beds 3 baths ∙ 2,211 Sqft ∙ Built 2003
    property image
    LEASED 03/12/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $0.70
    •  
  • 5448 Desert Paradise Drive Las Vegas, NV 4
    • 3 beds 3 baths ∙ 2,348 Sqft ∙ Built 1997 3 beds 3 baths ∙ 2,348 Sqft ∙ Built 1997
    property image
    LEASED 12/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $0.72
    •  
  • 5725 Bullhead Street North Las Vegas, NV 5
    • 4 beds 2 baths ∙ 2,397 Sqft ∙ Built 2009 4 beds 2 baths ∙ 2,397 Sqft ∙ Built 2009
    property image
    LEASED 02/19/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,940
    • $0.81
    •  
PROPERTY LISTING DETAILS
Jamie A Griffin
1.702.479.0079
Griffin Group Realty
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2281244
Last Updated: 03/24/2021
BESbswy