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529 Regal Robin Way North Las Vegas, NV 89084

3 Beds 2 Baths 1,521 sqft Built 2001

$292,000

List Price

$1,300

$1.2K - $1.4K

Rent Est.

PROPERTY INFO

FACTS
  • Built In 2001
  • Price/Sqft : $191.98
  • 16 Days on Market
  • MLS # : 2240935
  • Updated Date : 10/26/2020 at 10:48
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,521 sqft
  • Baths : 2 full
Listing Agent

Select Properties Group

Listing Agent's Description

Don't miss this stunning single story home in the highly desirable The Parks gated community with ultra low HOA. Home is moments from community park, also pet friendly. Open formal dining and living room concept with vaulted ceilings. Kitchen opens to second dining area providing plenty of space. Backyard has covered patio, great for entertainment. Water smart landscape for easy maintenance and low cost of upkeep. Owner suite separated from secondary bedrooms, privacy and quiet for everyone! This amazing community has multiple parks and play areas. Nearby elementary schools and great freeway access. Close to great shopping and restaurants. You cannot afford to miss out on this unique and stunning home. Welcome home!

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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: Parks

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280kPrice in $110k296k

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

Neighborhood: Parks

NeighborhoodNIR Market*CityMarket2010Year20002019 Q29501000105011001150120012501300135014001450150015501600Rent in $9431606

* 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
Don E. Hayden Elementary School Primary Regular 702 38 6
Clifford O. Findlay Middle School Middle Regular 1,372 59 NA
Legacy High School High Regular 2,819 119 3

Don E. Hayden Elementary School

  • Education Level: Primary
  • # of students: 702
  • # of teachers: 38
6
GreatSchools Rating

Clifford O. Findlay Middle School

  • Education Level: Middle
  • # of students: 1,372
  • # of teachers: 59
NA
GreatSchools Rating

Legacy High School

  • Education Level: High
  • # of students: 2,819
  • # of teachers: 119
3
GreatSchools Rating
 

$262,800$321,200$292,000

PURCHASE PRICE

$1,170$1,430$1,300

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,300
EXPENSES Loan Payment -$1,077
Property Tax -$209
Property Insurance -$57
HOA -$68
Property Management Fees -$119
CASH FLOW
-$230

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.

$292,000

PROJECTED PRICE

$1,300

PROJECTED RENT

0.45%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.96%
Appreciation Year (1-5) 12.8%
Maintenance Year (1-5) 8.00%
Vacancy 7.63%
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-$6.0k-$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$1.2M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$83,130

INVESTMENT

$83,130

Down Payment
$73,000
Rehab Estimate
$5,750
Closing Costs
$4,380

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 60% down payment or higher enables the proceeds from the asset to cover all costs.

$1,077

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $73,000
Loan Amount $219,000
See What Happens When You Reinvest Cash Flow

2.08

YEARS SAVED

$4,665

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,300

    LIST RENT
  • $0.85

    LIST RENT PER SQFT
  • $1,418

    COMP ESTIMATED VALUE
  • $0.93

    COMP AVG. RENT PER SQFT
Comps Range
$1,295
1$1,2952$1,2953$1,3004$1,3005$1,500
$1,500
RENT COMPS ANALYSIS
  • 529 Regal Robin Way North Las Vegas, NV 4
    • 3 beds 2 baths ∙ 1,521 Sqft ∙ Built 2001 3 beds 2 baths ∙ 1,521 Sqft ∙ Built 2001
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,300
    • $0.85
    •  
  • 422 River Glider Avenue North Las Vegas, NV 1
    • 3 beds 2 baths ∙ 1,374 Sqft ∙ Built 2001 3 beds 2 baths ∙ 1,374 Sqft ∙ Built 2001
    property image
    LEASED 12/23/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,295
    • $0.94
    •  
  • 520 Blackbird Knoll Court North Las Vegas, NV 2
    • 3 beds 2 baths ∙ 1,371 Sqft ∙ Built 2003 3 beds 2 baths ∙ 1,371 Sqft ∙ Built 2003
    property image
    LEASED 01/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,295
    • $0.94
    •  
  • 625 Lava Beds Way #0 North Las Vegas, NV 3
    • 3 beds 2 baths ∙ 1,374 Sqft ∙ Built 2002 3 beds 2 baths ∙ 1,374 Sqft ∙ Built 2002
    property image
    LEASED 11/13/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,300
    • $0.95
    •  
  • 6521 Bismark Hills Street #0 North Las Vegas, NV 5
    • 4 beds 2 baths ∙ 1,661 Sqft ∙ Built 2003 4 beds 2 baths ∙ 1,661 Sqft ∙ Built 2003
    property image
    LEASED 08/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $0.90
    •  
PROPERTY LISTING DETAILS
Monhthyla A Alvaro
1.702.858.0296
Select Properties Group
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2240935
Last Updated: 10/26/2020
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