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5361 Tierra Faith Avenue Las Vegas, NV 89139

3 Beds 3 Baths 1,741 sqft Built 2018

INVESTimate

$449,900

List Price

$1,460

$1,314 - $1,606

Rent Est.

$493,945  ( +9.79%)   1 YR EST. FORECAST

PROPERTY INFO

FACTS
  • Built In 2018
  • Price/Sqft : $258.41
  • 11 Days on Market
  • MLS # : 2222378
  • Updated Date : 08/18/2020 at 16:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,741 sqft
  • Baths : 2 full , 1 half
Listing Agent

Prominent Realty Group Llc

Listing Agent's Description

Gorgeous single story 3 bedrooms & 2.5 bath in gated community on southwest near strip and airport. Entertaining open floorplan with 11 ft High ceilings, upgraded master room gates, master bathroom bathtub with Dual vanities, walk-in closet . Matching kitchen Appliances, quartz countertops , stainless steel Fridge , water softener. Beautiful yard with covered patio! .

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: Enterprise

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320k340k360kPrice in $119k362k

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

Neighborhood: Enterprise

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2100011001200130014001500160017001800Rent in $9981875

* 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
Dr. Beverly S. Mathis Elementary School Primary Unknown NA
Lawrence And Heidi Canarelli Middle School Middle Regular 1,802 70 NA
Desert Oasis High School High Regular 2,417 102 5

Dr. Beverly S. Mathis Elementary School

  • Education Level: Primary
  • # of students:
  • # of teachers:
NA
GreatSchools Rating

Lawrence And Heidi Canarelli Middle School

  • Education Level: Middle
  • # of students: 1,802
  • # of teachers: 70
NA
GreatSchools Rating

Desert Oasis High School

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

$404,910$494,890$449,900

PURCHASE PRICE

$1,314$1,606$1,460

RENT

DOWN PAYMENT
FINANCING

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

PROJECTED ANNUAL CASH FLOW

11530-$12k-$10k-$8.0k-$6.0k-$4.0k-$2.0k$0.0$2.0k$4.0k

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

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,460
EXPENSES Loan Payment -$1,660
Property Tax -$297
Property Insurance -$61
HOA -$69
Property Management Fees -$119
CASH FLOW
-$746

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.

$449,900

PROJECTED PRICE

$1,460

PROJECTED RENT

0.32%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.05%
Appreciation Year (1-5) 9.79%
Maintenance Year (1-5) 8.00%
Vacancy 7.57%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$124,974

INVESTMENT

$124,974

Down Payment
$112,475
Rehab Estimate
$5,750
Closing Costs
$6,749

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 75% down payment or higher enables the proceeds from the asset to cover all costs.

$1,660

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $112,475
Loan Amount $337,425
See What Happens When You Reinvest Cash Flow

0.17

YEARS SAVED

$55

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,460

    LIST RENT
  • $0.84

    LIST RENT PER SQFT
  • $1,489

    COMP ESTIMATED VALUE
  • $0.86

    COMP AVG. RENT PER SQFT
Comps Range
$1,385
1$1,3852$1,4003$1,4604$1,4755$1,495
$1,495
RENT COMPS ANALYSIS
  • 5361 Tierra Faith Avenue Las Vegas, NV 3
    • 3 beds 3 baths ∙ 1,741 Sqft ∙ Built 2018 3 beds 3 baths ∙ 1,741 Sqft ∙ Built 2018
    • Rent
    • Rent Per SQFT
    •  
    • $1,460
    • $0.84
    •  
  • 5087 Lime Kiln Avenue Las Vegas, NV 1
    • 3 beds 3 baths ∙ 1,648 Sqft ∙ Built 2005 3 beds 3 baths ∙ 1,648 Sqft ∙ Built 2005
    LEASED 07/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,385
    • $0.84
    •  
  • 5665 Rose Tiara Drive Las Vegas, NV 2
    • 3 beds 3 baths ∙ 1,572 Sqft ∙ Built 2007 3 beds 3 baths ∙ 1,572 Sqft ∙ Built 2007
    LEASED 02/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,400
    • $0.89
    •  
  • 5033 Vacaville Avenue Las Vegas, NV 4
    • 3 beds 3 baths ∙ 1,758 Sqft ∙ Built 2007 3 beds 3 baths ∙ 1,758 Sqft ∙ Built 2007
    LEASED 04/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,475
    • $0.84
    •  
  • 8132 Stonyford Las Vegas, NV 5
    • 3 beds 3 baths ∙ 1,758 Sqft ∙ Built 2007 3 beds 3 baths ∙ 1,758 Sqft ∙ Built 2007
    LEASED 06/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,495
    • $0.85
    •  
PROPERTY LISTING DETAILS
Tracy Liu
1.702.981.2718
Prominent Realty Group Llc
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2222378
Last Updated: 08/18/2020
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