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PROPERTY INFO
FACTS
- Single Family
- Built In 1996
- Price/Sqft : $194.09
- 3 Days on Market
- MLS # : 2266174
- Updated Date : 02/06/2021 at 08:20
CONSTRUCTION
- Beds : 4
- Floor Size : 2,370 sqft
- Baths : 2 full
Listing Agent
Exp Realty
Listing Agent's Description
Welcome Home, A spacious living room greets you upon entering the house. The High Ceilings provide you with plenty of space to feature Artwork or Photo's of friends or family. The windows are fitted with Plantation Shutters & Solar Screens to help keep it cool in the Hotter months. The Great room features a Beautiful Stone Fireplace for those cozy evenings at home. The kitchen has upgraded Silestone Counter Tops, Double Oven Stove, Microwave, tile floors & a garden window. Adjacent to the kitchen is the Breakfast nook for you to enjoy your morning coffee or tea. Heading upstairs we find Remolded bathrooms in both the Master & Guest. The Master Bathroom features a Stand Alone Tub, Tile Shower & Upgraded Counter Tops. If that was not enough, the backyard features a pool & spa, along with a large Shaded Patio great for outdoor entertaining . A great yard for a summertime Pool Party! The property also features a 3 car garage and RV Parking. All with No HOA!!!!
SEE MORE
- 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)
- As the largest share, Las Vegas metro contributes to 75.1% of Nevada state's economy i.e. Gross State Product (USMayors.org, 2018)
PRICE & RENT TRENDS
Neighborhood: Painted Desert
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: Painted Desert
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $1,980 |
| EXPENSES | Loan Payment | -$1,598 |
| Property Tax | -$322 | |
| Property Insurance | -$73 | |
| Property Management Fees | -$119 | |
|
CASH FLOW
-$132
|
||
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.
$459,999
PROJECTED PRICE
$1,980
PROJECTED RENT
0.43%
PROJECTED RENT / PRICE RATIO
| 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
PROJECTED ANNUAL CASH FLOW
PROJECTED PROPERTY VALUE
30 YEAR PROJECTION
- Appreciation
- Principal
- Loan Balance
TOTAL CASH OUT OF POCKET
INVESTMENT
$127,650
LOAN DETAILS
$1,598
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 3.75% |
| Down Payment | $115,000 |
| Loan Amount | $344,999 |
4.33
YEARS SAVED
$19,227
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$1,980
LIST RENT -
$0.84
LIST RENT PER SQFT
-
$1,973
COMP ESTIMATED VALUE -
$0.83
COMP AVG. RENT PER SQFT
Comps Range
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5413 Irish Spring Street Las Vegas, NV 4
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5520 Big Sky Lane Las Vegas, NV 1
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LEASED 02/06/21- Rent
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- $1,875
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5509 Big Sky Lane Las Vegas, NV 2
- 4 beds 3 baths ∙ 2,325 Sqft ∙ Built 1999 4 beds 3 baths ∙ 2,325 Sqft ∙ Built 1999
LEASED 09/06/19- Rent
- Rent Per SQFT
- $1,950
- $0.84
-
5509 Desert Spring Road #0 Las Vegas, NV 3
- 4 beds 2 baths ∙ 2,453 Sqft ∙ Built 1989 4 beds 2 baths ∙ 2,453 Sqft ∙ Built 1989
LEASED 03/11/20- Rent
- Rent Per SQFT
- $1,975
- $0.81
-
5208 Coral Glow Court Las Vegas, NV 5
- 3 beds 2 baths ∙ 2,294 Sqft ∙ Built 1987 3 beds 2 baths ∙ 2,294 Sqft ∙ Built 1987
LEASED 04/10/20- Rent
- Rent Per SQFT
- $1,995
- $0.87
PROPERTY LISTING DETAILS
1.702.497.8354
Exp Realty
1.866.250.5610
Mynd Property Management
1453579
MLS #: 2266174
Last Updated: 02/06/2021
