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
REQUEST INFO
SCHEDULE APPOINTMENT
It's free, with no obligation
PROPERTY INFO
FACTS
- Single Family
- Built In 1998
- Price/Sqft : $302.07
- 8 Days on Market
- MLS # : 2262375
- Updated Date : 01/18/2021 at 05:00
CONSTRUCTION
- Beds : 2
- Floor Size : 2,410 sqft
- Baths : 2 full
Listing Agent
New Era Realty Llc
Listing Agent's Description
Gorgeous and highly upgraded single story property, comfort and beauty in one. 7FT 3/4 inch glass framed shower in master shower, highly upgraded master bathroom and customized walk in master closet. Travertine Granite Floor,Custom Paint, Entertainment Center in Great Room, Large Gourmet Kitchen,Raised Panel Cabinets, Granite Countertops, Built in Refrig/Freezer. Security camera system installed and wired. Upgraded laundry room to granite, new sink and faucet. Extra refrigerator in laundry room. Sunken Wet Bar w/Wine Refrig, Built-in Cabinets/Desk with new carpet in Den & Resort like Backyard with Pool/Spa(new pool plumbing and filter) in Gated Community at the heart of Summerlin.
SEE MORE
- 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: Canyon Ridge
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: Canyon Ridge
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $3,210 |
| EXPENSES | Loan Payment | -$2,529 |
| Property Tax | -$423 | |
| Property Insurance | -$74 | |
| Property Management Fees | -$119 | |
|
CASH FLOW
$65
|
||
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.
$728,000
PROJECTED PRICE
$3,210
PROJECTED RENT
0.44%
PROJECTED RENT / PRICE RATIO
| Expense Inflation | 2.50% |
| Rental Growth Year (1-5) | 4.75% |
| Appreciation Year (1-5) | 8.5% |
| Maintenance Year (1-5) | 8.00% |
| Vacancy | 7.56% |
| Length of Stay Years | 2 |
PROJECTED ACCUMULATED WEALTH
30 YEAR PROJECTION
- Cash Flow
- Appreciation
- Principal
PROJECTED ANNUAL CASH FLOW
PROJECTED PROPERTY VALUE
30 YEAR PROJECTION
- Appreciation
- Principal
- Loan Balance
TOTAL CASH OUT OF POCKET
INVESTMENT
$198,670
LOAN DETAILS
$2,529
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 3.75% |
| Down Payment | $182,000 |
| Loan Amount | $546,000 |
7.17
YEARS SAVED
$63,893
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$3,210
LIST RENT -
$1.33
LIST RENT PER SQFT
-
COMP ESTIMATED VALUE -
COMP AVG. RENT PER SQFT
Comps Range
-
528 Summer Mesa Drive Las Vegas, NV
- 2 beds 2 baths ∙ 2,410 Sqft ∙ Built 1998 2 beds 2 baths ∙ 2,410 Sqft ∙ Built 1998
![property image]()
- Rent
- Rent Per SQFT
- $3,210
- $1.33
PROPERTY LISTING DETAILS
1.702.672.2885
New Era Realty Llc
1.866.250.5610
Mynd Property Management
1453579
MLS #: 2262375
Last Updated: 01/18/2021
