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528 Ivy Spring Street Las Vegas, NV 89138

4 Beds 3 Baths 2,470 sqft Built 2005

$529,900

List Price

$2,290

$2.1K - $2.5K

Rent Est.

PROPERTY INFO

January 29, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2005
  • Price/Sqft : $214.53
  • 3 Days on Market
  • MLS # : 2264314
  • Updated Date : 01/29/2021 at 15:34
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,470 sqft
  • Baths : 2 full , 1 half
Listing Agent

Urban Nest Realty

Listing Agent's Description

Absolutely beautiful two story home within the Pasoes village of the Summerlin masterplan. This gorgeous home is conveniently located near Summerlin park areas and just minutes from Downtown Summerlin shopping area. Some of the upgrades included in this well kept home are: Gourmet kitchen / Granite countertops / Full backsplash / Upgraded cabinetry with cabinets extended / Over-sized kitchen island with breakfast bar / Stainless steel appliances / Pantry / Upgraded tile flooring / Like new carpet / Upgraded stair rail / Custom paint / Large master bedroom with amazing views from the balcony / Separate tub and shower master bath / Crown molding / Covered patio / Backyard with view fence/ Don't miss your opportunity on this great home.

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: The Paseos

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450k500kPrice in $119k545k

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

Neighborhood: The Paseos

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21200140016001800200022002400260028003000Rent in $10763057

* 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
Billy And Rosemary Vassiliadis Elementary School Primary Unknown NA
Sig Rogich Middle School Middle Regular 1,845 70 NA
Palo Verde High School High Regular 3,024 114 9

Billy And Rosemary Vassiliadis Elementary School

  • Education Level: Primary
  • # of students:
  • # of teachers:
NA
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
 

$476,910$582,890$529,900

PURCHASE PRICE

$2,061$2,519$2,290

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,290
EXPENSES Loan Payment -$1,841
Property Tax -$347
Property Insurance -$75
Property Management Fees -$119
CASH FLOW
-$91

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.

$529,900

PROJECTED PRICE

$2,290

PROJECTED RENT

0.43%

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$1.6M$1.8M

PROJECTED ANNUAL CASH FLOW

11530-$5.0k$0.0$5.0k$10k$15k$20k$25k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M$1.6M$1.8M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$146,174

INVESTMENT

$146,174

Down Payment
$132,475
Rehab Estimate
$5,750
Closing Costs
$7,949

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,841

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $132,475
Loan Amount $397,425
See What Happens When You Reinvest Cash Flow

5

YEARS SAVED

$27,095

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,290

    LIST RENT
  • $0.93

    LIST RENT PER SQFT
  • $2,563

    COMP ESTIMATED VALUE
  • $1.04

    COMP AVG. RENT PER SQFT
Comps Range
$2,290
1$2,2902$2,4003$2,5004$2,5955$2,695
$2,695
RENT COMPS ANALYSIS
  • 528 Ivy Spring Street Las Vegas, NV 1
    • 4 beds 3 baths ∙ 2,470 Sqft ∙ Built 2005 4 beds 3 baths ∙ 2,470 Sqft ∙ Built 2005
    • Rent
    • Rent Per SQFT
    •  
    • $2,290
    • $0.93
    •  
  • 11816 Red Camellia Avenue Las Vegas, NV 2
    • 4 beds 2 baths ∙ 2,306 Sqft ∙ Built 2005 4 beds 2 baths ∙ 2,306 Sqft ∙ Built 2005
    LEASED 12/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,400
    • $1.04
    •  
  • 536 Calahonda Court Las Vegas, NV 3
    • 5 beds 2 baths ∙ 2,548 Sqft ∙ Built 2006 5 beds 2 baths ∙ 2,548 Sqft ∙ Built 2006
    LEASED 02/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $0.98
    •  
  • 604 Wandering Violets Way Las Vegas, NV 4
    • 4 beds 3 baths ∙ 2,480 Sqft ∙ Built 2004 4 beds 3 baths ∙ 2,480 Sqft ∙ Built 2004
    LEASED 10/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,595
    • $1.05
    •  
  • 600 Wandering Violets Way Las Vegas, NV 5
    • 4 beds 3 baths ∙ 2,501 Sqft ∙ Built 2004 4 beds 3 baths ∙ 2,501 Sqft ∙ Built 2004
    LEASED 12/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,695
    • $1.08
    •  
PROPERTY LISTING DETAILS
Dennis S Anderson
1.702.808.8528
Urban Nest Realty
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2264314
Last Updated: 01/29/2021
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