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5323 Candlespice Way Las Vegas, NV 89135

3 Beds 3 Baths 1,964 sqft Built 2006

$565,000

List Price

$1,960

$1.8K - $2.2K

Rent Est.

PROPERTY INFO

January 13, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2006
  • Price/Sqft : $287.68
  • 6 Days on Market
  • MLS # : 2261124
  • Updated Date : 01/13/2021 at 20:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,964 sqft
  • Baths : 2 full , 1 half
Listing Agent

I15 Realty

Listing Agent's Description

A former ***MODEL HOME***, this charming, wonderful place with many upgrades and amenities, such as the pool/spa, surround sound system throughout the house, recess lights, new wooden flooring, built-in bookshelves, closet shelves, upgraded water softener, etc can be an excellent home for your family. With 3 beds, a den, and 2.5 baths, it has an inviting, open floor plan with endless possibilities for the new owner. Come check this one out!

SEE MORE

MARKET HIGHLIGHTS

  • 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: The Mesa

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450kPrice in $119k472k

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

Neighborhood: The Mesa

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21100120013001400150016001700180019002000210022002300Rent in $10762305

* 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
Kathy L. Batterman Elementary School Primary Regular 910 47 9
Victoria Fertitta Middle School Middle Regular 1,472 60 NA
Durango High School High Regular 2,302 95 5

Kathy L. Batterman Elementary School

  • Education Level: Primary
  • # of students: 910
  • # of teachers: 47
9
GreatSchools Rating

Victoria Fertitta Middle School

  • Education Level: Middle
  • # of students: 1,472
  • # of teachers: 60
NA
GreatSchools Rating

Durango High School

  • Education Level: High
  • # of students: 2,302
  • # of teachers: 95
5
GreatSchools Rating
 

$508,500$621,500$565,000

PURCHASE PRICE

$1,764$2,156$1,960

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,960
EXPENSES Loan Payment -$1,962
Property Tax -$368
Property Insurance -$65
Property Management Fees -$119
CASH FLOW
-$555

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.

$565,000

PROJECTED PRICE

$1,960

PROJECTED RENT

0.35%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.05%
Appreciation Year (1-5) 7.7%
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-$10k-$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$155,475

INVESTMENT

$155,475

Down Payment
$141,250
Rehab Estimate
$5,750
Closing Costs
$8,475

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 65% down payment or higher enables the proceeds from the asset to cover all costs.

$1,962

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $141,250
Loan Amount $423,750
See What Happens When You Reinvest Cash Flow

1.25

YEARS SAVED

$3,195

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,960

    LIST RENT
  • $1

    LIST RENT PER SQFT
  • $1,959

    COMP ESTIMATED VALUE
  • $1

    COMP AVG. RENT PER SQFT
Comps Range
$1,775
1$1,7752$1,8003$1,9604$1,9955$2,200
$2,200
RENT COMPS ANALYSIS
  • 5323 Candlespice Way Las Vegas, NV 3
    • 3 beds 3 baths ∙ 1,964 Sqft ∙ Built 2006 3 beds 3 baths ∙ 1,964 Sqft ∙ Built 2006
    • Rent
    • Rent Per SQFT
    •  
    • $1,960
    • $1.00
    •  
  • 5493 Twin Feathers Way Las Vegas, NV 1
    • 3 beds 3 baths ∙ 1,954 Sqft ∙ Built 2006 3 beds 3 baths ∙ 1,954 Sqft ∙ Built 2006
    LEASED 07/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,775
    • $0.91
    •  
  • 5342 Hollymead Las Vegas, NV 2
    • 3 beds 3 baths ∙ 1,987 Sqft ∙ Built 2007 3 beds 3 baths ∙ 1,987 Sqft ∙ Built 2007
    LEASED 07/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $0.91
    •  
  • 5612 Spiceberry Drive Las Vegas, NV 4
    • 3 beds 3 baths ∙ 1,876 Sqft ∙ Built 2009 3 beds 3 baths ∙ 1,876 Sqft ∙ Built 2009
    LEASED 12/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,995
    • $1.06
    •  
  • 5333 Hollymead Drive Las Vegas, NV 5
    • 3 beds 3 baths ∙ 1,987 Sqft ∙ Built 2007 3 beds 3 baths ∙ 1,987 Sqft ∙ Built 2007
    LEASED 08/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $1.11
    •  
PROPERTY LISTING DETAILS
Matthew Chung
1.702.580.5771
I15 Realty
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2261124
Last Updated: 01/13/2021
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