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5360 Agate Avenue Las Vegas, NV 89139

6 Beds 3 Baths 4,129 sqft Built 1994

$1,300,000

List Price

$2,910

$2.7K - $3.2K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 17, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1994
  • Price/Sqft : $314.85
  • 6 Days on Market
  • MLS # : 2279250
  • Updated Date : 03/17/2021 at 18:03
CONSTRUCTION
  • Beds : 6
  • Floor Size : 4,129 sqft
  • Baths : 2 full , 1 half
Listing Agent

Realty One Group, Inc

Listing Agent's Description

** 2 ACRES! ** UNBELIEVABLY RARE 4,129SQ FT HOME LOCATED IN THE HIGHLY DESIRABLE SOUTHWEST PART OF THE VALLEY ** 6 BEDROOMS / 4 BATHROOMS WITH ATTACHED GUEST HOUSE ** ELOQUENTLY REMODELED BATHROOMS ** GORGEOUS NEW PICTURE WINDOWS ** PERFECT EQUESTRIAN PROPERTY WITH LIGHTS IN PLACE FOR HUGE ARENA AND PLENTY OF SPACE FOR LARGE BARN AND/OR WORKSHOP ** BLOCK WALL W/ ACCESS GATE ** CIRCULAR DRIVEWAY ** DEVELOPED LANDSCAPING ** PRIVATE WELL! **

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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: Highlands Ranch

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320k340k360kPrice in $119k369k

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

Neighborhood: Highlands Ranch

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2110012001300140015001600170018001900Rent in $10761902

* 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
Aldeane Comito Ries Elementary School Primary Regular 975 57 4
Lois And Jerry Tarkanian Middle School Middle Regular 1,739 71 NA
Desert Oasis High School High Regular 2,417 102 5

Aldeane Comito Ries Elementary School

  • Education Level: Primary
  • # of students: 975
  • # of teachers: 57
4
GreatSchools Rating

Lois And Jerry Tarkanian Middle School

  • Education Level: Middle
  • # of students: 1,739
  • # of teachers: 71
NA
GreatSchools Rating

Desert Oasis High School

  • Education Level: High
  • # of students: 2,417
  • # of teachers: 102
5
GreatSchools Rating
 

$1,170,000$1,430,000$1,300,000

PURCHASE PRICE

$2,619$3,201$2,910

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,910
EXPENSES Loan Payment -$4,515
Property Tax -$610
Property Insurance -$107
Property Management Fees -$119
CASH FLOW
-$2,442

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.

$1,300,000

PROJECTED PRICE

$2,910

PROJECTED RENT

0.22%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.05%
Appreciation Year (1-5) 6.5%
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$500k$1.0M$1.5M$2.0M$2.5M$3.0M$3.5M

PROJECTED ANNUAL CASH FLOW

11530-$40k-$35k-$30k-$25k-$20k-$15k-$10k-$5.0k$0.0

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$500k$1.0M$1.5M$2.0M$2.5M$3.0M$3.5M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$350,250

INVESTMENT

$350,250

Down Payment
$325,000
Rehab Estimate
$5,750
Closing Costs
$19,500

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 80% down payment or higher enables the proceeds from the asset to cover all costs.

$4,515

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $325,000
Loan Amount $975,000
See What Happens When You Reinvest Cash Flow

0.08

YEARS SAVED

$62

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,910

    LIST RENT
  • $0.7

    LIST RENT PER SQFT
  • $2,973

    COMP ESTIMATED VALUE
  • $0.72

    COMP AVG. RENT PER SQFT
Comps Range
$2,600
1$2,6002$2,9103$3,0004$3,2005$3,200
$3,200
RENT COMPS ANALYSIS
  • 5360 Agate Avenue Las Vegas, NV 2
    • 6 beds 3 baths ∙ 4,129 Sqft ∙ Built 1994 6 beds 3 baths ∙ 4,129 Sqft ∙ Built 1994
    • Rent
    • Rent Per SQFT
    •  
    • $2,910
    • $0.70
    •  
  • 5399 Tartan Hill Avenue Las Vegas, NV 1
    • 5 beds 3 baths ∙ 3,971 Sqft ∙ Built 2014 5 beds 3 baths ∙ 3,971 Sqft ∙ Built 2014
    LEASED 10/07/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,600
    • $0.65
    •  
  • 9668 Matanzas Creek Court Las Vegas, NV 3
    • 5 beds 4 baths ∙ 3,952 Sqft ∙ Built 2013 5 beds 4 baths ∙ 3,952 Sqft ∙ Built 2013
    LEASED 12/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,000
    • $0.76
    •  
  • 8265 Windsor Oaks Street Las Vegas, NV 4
    • 5 beds 3 baths ∙ 4,355 Sqft ∙ Built 2011 5 beds 3 baths ∙ 4,355 Sqft ∙ Built 2011
    LEASED 02/10/21
    • Rent
    • Rent Per SQFT
    •  
    • $3,200
    • $0.73
    •  
  • 6290 Mustang Spring Avenue Las Vegas, NV 5
    • 5 beds 3 baths ∙ 4,340 Sqft ∙ Built 2013 5 beds 3 baths ∙ 4,340 Sqft ∙ Built 2013
    LEASED 03/08/21
    • Rent
    • Rent Per SQFT
    •  
    • $3,200
    • $0.74
    •  
PROPERTY LISTING DETAILS
Terri G Gamboa
1.702.528.5473
Realty One Group, Inc
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2279250
Last Updated: 03/17/2021
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