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5221 Floralita Street Las Vegas, NV 89122

3 Beds 3 Baths 1,160 sqft Built 2007

$245,000

List Price

$1,110

$999 - $1.2K

Rent Est.

PROPERTY INFO

October 30, 2020 RECENTLY ADDED
FACTS
  • Built In 2007
  • Price/Sqft : $211.21
  • 5 Days on Market
  • MLS # : 2243522
  • Updated Date : 10/30/2020 at 07:24
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,160 sqft
  • Baths : 2 full , 1 half
Listing Agent

Keller Williams Realty Sw

Listing Agent's Description

Awesome Remodeled Home With Huge Back Yard in Quiet Neighborhood with NO HOA! Upgraded Kitchen with New Stainless Steel Sink and Faucet and Granite Countertops! Modern Tile Floors On Entire Main Level! Brand New Carpet in All Bedrooms! Freshly Painted Interior! Beautiful Desert Landscaping! Come See This Move In Ready Gem Today! DID I MENTION NO HOA!

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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)

PRICE & RENT TRENDS

Neighborhood: Whitney

NeighborhoodNIR Market*CityMarket2010Year2000201980k100k120k140k160k180k200k220k240k260k280kPrice in $75k296k

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

Neighborhood: Whitney

NeighborhoodNIR Market*CityMarket2010Year20002019 Q29501000105011001150120012501300135014001450150015501600Rent in $9301603

* 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
Sister Robert Joseph Bailey Elementary School Primary Regular 839 46 4
Francis Cortney Middle School Middle Regular 1,235 52 NA
Basic High School High Regular 2,367 100 3

Sister Robert Joseph Bailey Elementary School

  • Education Level: Primary
  • # of students: 839
  • # of teachers: 46
4
GreatSchools Rating

Francis Cortney Middle School

  • Education Level: Middle
  • # of students: 1,235
  • # of teachers: 52
NA
GreatSchools Rating

Basic High School

  • Education Level: High
  • # of students: 2,367
  • # of teachers: 100
3
GreatSchools Rating
 

$220,500$269,500$245,000

PURCHASE PRICE

$999$1,221$1,110

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,110
EXPENSES Loan Payment -$904
Property Tax -$154
Property Insurance -$50
Property Management Fees -$119
CASH FLOW
-$116

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.

$245,000

PROJECTED PRICE

$1,110

PROJECTED RENT

0.45%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.75%
Appreciation Year (1-5) 12.6%
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

PROJECTED ANNUAL CASH FLOW

11530-$4.0k-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k

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$70,675

INVESTMENT

$70,675

Down Payment
$61,250
Rehab Estimate
$5,750
Closing Costs
$3,675

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$904

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $61,250
Loan Amount $183,750
See What Happens When You Reinvest Cash Flow

3.42

YEARS SAVED

$8,012

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,110

    LIST RENT
  • $0.96

    LIST RENT PER SQFT
  • $969

    COMP ESTIMATED VALUE
  • $0.84

    COMP AVG. RENT PER SQFT
Comps Range
$1,110
1$1,1102$1,1503$1,200
$1,200
RENT COMPS ANALYSIS
  • 5221 Floralita Street Las Vegas, NV 1
    • 3 beds 3 baths ∙ 1,160 Sqft ∙ Built 2007 3 beds 3 baths ∙ 1,160 Sqft ∙ Built 2007
    • Rent
    • Rent Per SQFT
    •  
    • $1,110
    • $0.96
    •  
  • 5263 Broadlake Lane Las Vegas, NV 2
    • 3 beds 3 baths ∙ 1,346 Sqft ∙ Built 2006 3 beds 3 baths ∙ 1,346 Sqft ∙ Built 2006
    LEASED 12/20/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,150
    • $0.85
    •  
  • 5255 Broadlake Lane Las Vegas, NV 3
    • 3 beds 3 baths ∙ 1,471 Sqft ∙ Built 2006 3 beds 3 baths ∙ 1,471 Sqft ∙ Built 2006
    LEASED 06/08/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,200
    • $0.82
    •  
PROPERTY LISTING DETAILS
Jonathan Schussler
1.702.335.8740
Keller Williams Realty Sw
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2243522
Last Updated: 10/30/2020
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