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5308 Byron Nelson Lane Las Vegas, NV 89149

2 Beds 2 Baths 1,606 sqft Built 1990

$410,000

List Price

$1,610

$1.4K - $1.8K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 20, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1990
  • Price/Sqft : $255.29
  • 3 Days on Market
  • MLS # : 2280136
  • Updated Date : 03/20/2021 at 01:00
CONSTRUCTION
  • Beds : 2
  • Floor Size : 1,606 sqft
  • Baths : 2 full
Listing Agent

Keller Williams Southern Nevada

Listing Agent's Description

This property is a MUST SEE! Fully renovated single story with a pool nestled in Painted Desert. A large enclosed patio entry way leading into a fully custom 2 bedroom home ready for move in. Completely custom bathrooms, light grey wood flooring, custom white kitchen with a farm sink, breakfast nook and uniquely a trash compactor. The pool was resurfaced last summer with pebble tec and the side yard of the home has a custom patio cover perfect for catering for a gathering. Easily ready to view and waiting for a new owner!

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: Vintage Hills

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320k340k360k380kPrice in $119k387k

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

Neighborhood: Vintage Hills

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2110012001300140015001600170018001900Rent in $10761966

* 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
Dean Lamar Allen Elementary School Primary Regular 660 32 6
Justice M E Leavitt Middle School Middle Regular 1,496 64 NA
Centennial High School High Regular 3,055 124 6

Dean Lamar Allen Elementary School

  • Education Level: Primary
  • # of students: 660
  • # of teachers: 32
6
GreatSchools Rating

Justice M E Leavitt Middle School

  • Education Level: Middle
  • # of students: 1,496
  • # of teachers: 64
NA
GreatSchools Rating

Centennial High School

  • Education Level: High
  • # of students: 3,055
  • # of teachers: 124
6
GreatSchools Rating
 

$369,000$451,000$410,000

PURCHASE PRICE

$1,449$1,771$1,610

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,610
EXPENSES Loan Payment -$1,424
Property Tax -$227
Property Insurance -$58
Property Management Fees -$119
CASH FLOW
-$218

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.

$410,000

PROJECTED PRICE

$1,610

PROJECTED RENT

0.39%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.05%
Appreciation Year (1-5) 7.1%
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

PROJECTED ANNUAL CASH FLOW

11530-$5.0k$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$114,400

INVESTMENT

$114,400

Down Payment
$102,500
Rehab Estimate
$5,750
Closing Costs
$6,150

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,424

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $102,500
Loan Amount $307,500
See What Happens When You Reinvest Cash Flow

3.33

YEARS SAVED

$11,094

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,610

    LIST RENT
  • $1

    LIST RENT PER SQFT
  • $1,482

    COMP ESTIMATED VALUE
  • $0.92

    COMP AVG. RENT PER SQFT
Comps Range
$1,500
1$1,5002$1,5003$1,5254$1,5995$1,610
$1,610
RENT COMPS ANALYSIS
  • 5308 Byron Nelson Lane Las Vegas, NV 5
    • 2 beds 2 baths ∙ 1,606 Sqft ∙ Built 1990 2 beds 2 baths ∙ 1,606 Sqft ∙ Built 1990
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,610
    • $1.00
    •  
  • 5497 Painted Mirage Road Las Vegas, NV 1
    • 2 beds 2 baths ∙ 1,594 Sqft ∙ Built 1989 2 beds 2 baths ∙ 1,594 Sqft ∙ Built 1989
    property image
    LEASED 03/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $0.94
    •  
  • 7250 Diamond Canyon Lane #104 Las Vegas, NV 2
    • 2 beds 3 baths ∙ 1,614 Sqft ∙ Built 2002 2 beds 3 baths ∙ 1,614 Sqft ∙ Built 2002
    property image
    LEASED 03/01/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $0.93
    •  
  • 7365 Paradiso Court #0 Las Vegas, NV 3
    • 2 beds 2 baths ∙ 1,703 Sqft ∙ Built 1989 2 beds 2 baths ∙ 1,703 Sqft ∙ Built 1989
    property image
    LEASED 04/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,525
    • $0.90
    •  
  • 5461 Royal Vista Lane #0 Las Vegas, NV 4
    • 2 beds 2 baths ∙ 1,731 Sqft ∙ Built 1994 2 beds 2 baths ∙ 1,731 Sqft ∙ Built 1994
    property image
    LEASED 06/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,599
    • $0.92
    •  
PROPERTY LISTING DETAILS
Afroditi Bartsilianos
1.702.412.5135
Keller Williams Southern Nevada
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2280136
Last Updated: 03/20/2021
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