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5413 Tincup Drive Las Vegas, NV 89130

4 Beds 3 Baths 2,069 sqft Built 1990

$395,000

List Price

$1,650

$1.5K - $1.8K

Rent Est.

PROPERTY INFO

November 03, 2020 RECENTLY ADDED
FACTS
  • Built In 1990
  • Price/Sqft : $190.91
  • 6 Days on Market
  • MLS # : 2244327
  • Updated Date : 11/03/2020 at 16:05
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,069 sqft
  • Baths : 3 full
Listing Agent

Opendoor Brokerage Llc

Listing Agent's Description

This Las Vegas two-story home offers a patio, quartz countertops, and a two-car garage.

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MARKET HIGHLIGHTS

  • 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)
  • 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)

PRICE & RENT TRENDS

Neighborhood: North Cheyenne

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300kPrice in $119k302k

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

Neighborhood: North Cheyenne

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2105011001150120012501300135014001450150015501600Rent in $10011606

* 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
 

$355,500$434,500$395,000

PURCHASE PRICE

$1,485$1,815$1,650

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,650
EXPENSES Loan Payment -$1,457
Property Tax -$220
Property Insurance -$67
Property Management Fees -$119
CASH FLOW
-$214

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.

$395,000

PROJECTED PRICE

$1,650

PROJECTED RENT

0.42%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.96%
Appreciation Year (1-5) 10.7%
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$1.4M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$110,425

INVESTMENT

$110,425

Down Payment
$98,750
Rehab Estimate
$5,750
Closing Costs
$5,925

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,457

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $98,750
Loan Amount $296,250
See What Happens When You Reinvest Cash Flow

3.42

YEARS SAVED

$13,185

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,650

    LIST RENT
  • $0.8

    LIST RENT PER SQFT
  • $1,650

    COMP ESTIMATED VALUE
  • $0.8

    COMP AVG. RENT PER SQFT
Comps Range
$1,500
1$1,5002$1,5503$1,5504$1,6505$1,695
$1,695
RENT COMPS ANALYSIS
  • 5413 Tincup Drive Las Vegas, NV 4
    • 4 beds 3 baths ∙ 2,069 Sqft ∙ Built 1990 4 beds 3 baths ∙ 2,069 Sqft ∙ Built 1990
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.80
    •  
  • 5404 Lochmor Avenue #0 Las Vegas, NV 1
    • 3 beds 2 baths ∙ 1,997 Sqft ∙ Built 1998 3 beds 2 baths ∙ 1,997 Sqft ∙ Built 1998
    property image
    LEASED 11/05/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $0.75
    •  
  • 5413 Rusty Anchor Court #0 Las Vegas, NV 2
    • 3 beds 3 baths ∙ 1,915 Sqft ∙ Built 1994 3 beds 3 baths ∙ 1,915 Sqft ∙ Built 1994
    property image
    LEASED 11/19/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $0.81
    •  
  • 5712 Tropic Mist Street Las Vegas, NV 3
    • 3 beds 2 baths ∙ 2,002 Sqft ∙ Built 1996 3 beds 2 baths ∙ 2,002 Sqft ∙ Built 1996
    property image
    LEASED 05/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $0.77
    •  
  • 5220 Backwoodsman Avenue Las Vegas, NV 5
    • 3 beds 2 baths ∙ 1,960 Sqft ∙ Built 1999 3 beds 2 baths ∙ 1,960 Sqft ∙ Built 1999
    property image
    LEASED 08/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $0.86
    •  
PROPERTY LISTING DETAILS
Alexis M Rogers
1.702.710.3787
Opendoor Brokerage Llc
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2244327
Last Updated: 11/03/2020
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