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5413 Fountain Palm Street Las Vegas, NV 89130

3 Beds 2 Baths 1,996 sqft Built 1999

$396,000

List Price

$1,710

$1.5K - $1.9K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 13, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1999
  • Price/Sqft : $198.40
  • 4 Days on Market
  • MLS # : 2277763
  • Updated Date : 03/14/2021 at 00:34
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,996 sqft
  • Baths : 2 full
Listing Agent

Executive Realty Services

Listing Agent's Description

Wonderful single story home with a golf course view on Los Prados guard gated golf course community! Well maintained. Most popular floor plans, Open and airy! Oak kitchen cabinets, tile countertops, spacious pantry, complete with a breakfast bar! Huge master bath with double sinks and separate shower and tub! All appliances included. Not age restricted.

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: Los Prados

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320kPrice in $119k336k

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

Neighborhood: Los Prados

NeighborhoodNIR Market*CityMarket2010Year20002019 Q211001150120012501300135014001450150015501600Rent in $10621606

* 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
Ernest May Elementary School Primary Regular 665 33 8
Theron L. Swainston Middle School Middle Regular 1,146 52 NA
Shadow Ridge High School High Regular 2,697 105 6

Ernest May Elementary School

  • Education Level: Primary
  • # of students: 665
  • # of teachers: 33
8
GreatSchools Rating

Theron L. Swainston Middle School

  • Education Level: Middle
  • # of students: 1,146
  • # of teachers: 52
NA
GreatSchools Rating

Shadow Ridge High School

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

$356,400$435,600$396,000

PURCHASE PRICE

$1,539$1,881$1,710

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,710
EXPENSES Loan Payment -$1,375
Property Tax -$262
Property Insurance -$66
Property Management Fees -$119
CASH FLOW
-$112

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.

$396,000

PROJECTED PRICE

$1,710

PROJECTED RENT

0.43%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.96%
Appreciation Year (1-5) 9.3%
Maintenance Year (1-5) 8.00%
Vacancy 7.63%
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

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$110,690

INVESTMENT

$110,690

Down Payment
$99,000
Rehab Estimate
$5,750
Closing Costs
$5,940

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,375

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $99,000
Loan Amount $297,000
See What Happens When You Reinvest Cash Flow

4.33

YEARS SAVED

$16,390

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,710

    LIST RENT
  • $0.86

    LIST RENT PER SQFT
  • $1,717

    COMP ESTIMATED VALUE
  • $0.86

    COMP AVG. RENT PER SQFT
Comps Range
$1,550
1$1,5502$1,5503$1,6954$1,7105$1,900
$1,900
RENT COMPS ANALYSIS
  • 5413 Fountain Palm Street Las Vegas, NV 4
    • 3 beds 2 baths ∙ 1,996 Sqft ∙ Built 1999 3 beds 2 baths ∙ 1,996 Sqft ∙ Built 1999
    • Rent
    • Rent Per SQFT
    •  
    • $1,710
    • $0.86
    •  
  • 5712 Tropic Mist Street Las Vegas, NV 1
    • 3 beds 2 baths ∙ 2,002 Sqft ∙ Built 1996 3 beds 2 baths ∙ 2,002 Sqft ∙ Built 1996
    LEASED 05/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $0.77
    •  
  • 5229 Sundance Canyon Court North Las Vegas, NV 2
    • 3 beds 3 baths ∙ 1,805 Sqft ∙ Built 2002 3 beds 3 baths ∙ 1,805 Sqft ∙ Built 2002
    LEASED 12/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $0.86
    •  
  • 5220 Backwoodsman Avenue Las Vegas, NV 3
    • 3 beds 2 baths ∙ 1,960 Sqft ∙ Built 1999 3 beds 2 baths ∙ 1,960 Sqft ∙ Built 1999
    LEASED 08/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $0.86
    •  
  • 5709 Spicewood Circle Las Vegas, NV 5
    • 3 beds 2 baths ∙ 2,007 Sqft ∙ Built 1987 3 beds 2 baths ∙ 2,007 Sqft ∙ Built 1987
    LEASED 09/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,900
    • $0.95
    •  
PROPERTY LISTING DETAILS
Chao Cong
1.510.676.3749
Executive Realty Services
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2277763
Last Updated: 03/14/2021
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