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5313 Purple Orchid Court Las Vegas, NV 89131

4 Beds 3 Baths 2,537 sqft Built 2004

$504,999

List Price

$2,070

$1.9K - $2.3K

Rent Est.

PROPERTY INFO

December 08, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2004
  • Price/Sqft : $199.05
  • 7 Days on Market
  • MLS # : 2254029
  • Updated Date : 12/08/2020 at 11:30
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,537 sqft
  • Baths : 3 full
Listing Agent

Advanced Realty Group

Listing Agent's Description

2,537 sq ft Single story family home located in Las Vegas, NV 89131. Built in 2004, this home Features 4 bedrooms, 3 bathrooms, Open floor plan, A Kitchen with plenty of cabinets and counter space. Living room features gas fireplace and Sparkling pool.

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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: Centennial Hills

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320k340k360kPrice in $119k362k

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

Neighborhood: Centennial Hills

NeighborhoodNIR Market*CityMarket2010Year20002019 Q211001200130014001500160017001800Rent in $10761875

* 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
Kay Carl Elementary School Primary Regular 686 32 4
Anthony Saville Middle School Middle Regular 1,494 58 NA
Shadow Ridge High School High Regular 2,697 105 6

Kay Carl Elementary School

  • Education Level: Primary
  • # of students: 686
  • # of teachers: 32
4
GreatSchools Rating

Anthony Saville Middle School

  • Education Level: Middle
  • # of students: 1,494
  • # of teachers: 58
NA
GreatSchools Rating

Shadow Ridge High School

  • Education Level: High
  • # of students: 2,697
  • # of teachers: 105
6
GreatSchools Rating
 

$454,499$555,499$504,999

PURCHASE PRICE

$1,863$2,277$2,070

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,070
EXPENSES Loan Payment -$1,863
Property Tax -$354
Property Insurance -$76
Property Management Fees -$119
CASH FLOW
-$342

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.

$504,999

PROJECTED PRICE

$2,070

PROJECTED RENT

0.41%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.05%
Appreciation Year (1-5) 10.3%
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

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$139,575

INVESTMENT

$139,575

Down Payment
$126,250
Rehab Estimate
$5,750
Closing Costs
$7,575

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,863

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $126,250
Loan Amount $378,749
See What Happens When You Reinvest Cash Flow

2.5

YEARS SAVED

$11,625

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,070

    LIST RENT
  • $0.82

    LIST RENT PER SQFT
  • $2,068

    COMP ESTIMATED VALUE
  • $0.82

    COMP AVG. RENT PER SQFT
Comps Range
$1,950
1$1,9502$2,0003$2,0704$2,0955$2,100
$2,100
RENT COMPS ANALYSIS
  • 5313 Purple Orchid Court Las Vegas, NV 3
    • 4 beds 3 baths ∙ 2,537 Sqft ∙ Built 2004 4 beds 3 baths ∙ 2,537 Sqft ∙ Built 2004
    • Rent
    • Rent Per SQFT
    •  
    • $2,070
    • $0.82
    •  
  • 5005 Soaring Springs Avenue Las Vegas, NV 1
    • 4 beds 2 baths ∙ 2,372 Sqft ∙ Built 2002 4 beds 2 baths ∙ 2,372 Sqft ∙ Built 2002
    LEASED 01/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $0.82
    •  
  • 5819 Gushing Spring Avenue #0 Las Vegas, NV 2
    • 4 beds 3 baths ∙ 2,398 Sqft ∙ Built 2002 4 beds 3 baths ∙ 2,398 Sqft ∙ Built 2002
    LEASED 01/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $0.83
    •  
  • 6432 Somervell Ranch Street Las Vegas, NV 4
    • 3 beds 3 baths ∙ 2,700 Sqft ∙ Built 2009 3 beds 3 baths ∙ 2,700 Sqft ∙ Built 2009
    LEASED 07/28/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,095
    • $0.78
    •  
  • 6717 Pyracantha Glen Court Las Vegas, NV 5
    • 4 beds 3 baths ∙ 2,537 Sqft ∙ Built 2002 4 beds 3 baths ∙ 2,537 Sqft ∙ Built 2002
    LEASED 11/01/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $0.83
    •  
PROPERTY LISTING DETAILS
Rebecca R Dycus
1.702.274.0900
Advanced Realty Group
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2254029
Last Updated: 12/08/2020
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