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PROPERTY INFO
FACTS
- Single Family
- Built In 1994
- Price/Sqft : $230.17
- 2 Days on Market
- MLS # : 2270692
- Updated Date : 02/20/2021 at 10:30
CONSTRUCTION
- Beds : 3
- Floor Size : 1,412 sqft
- Baths : 2 full , 1 half
Listing Agent
Bhhs Nevada Properties
Listing Agent's Description
Cozy house in SW, across Spanish Hills community, minutes away from the Strip and Spring Valley Hospital. This 3 bedrooms, 2.5 bathrooms home with tiles all over on the 1st floor and carpet on the 2nd floor has been freshly painted inside and outside. Big backyard with grass and side room on both sides of the house. Kitchen with white cabinets and breakfast bar is next to the family room with vaulted ceilings and fan, gas fireplace and tile flooring. Seller is offering $1000 allowance for the appliances. Great house, close to everything and with No HOA fees.
SEE MORE
- 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: Spring Valley
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: Spring Valley
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $1,330 |
| EXPENSES | Loan Payment | -$1,129 |
| Property Tax | -$159 | |
| Property Insurance | -$55 | |
| Property Management Fees | -$119 | |
|
CASH FLOW
-$131
|
||
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.
$325,000
PROJECTED PRICE
$1,330
PROJECTED RENT
0.41%
PROJECTED RENT / PRICE RATIO
| Expense Inflation | 2.50% |
| Rental Growth Year (1-5) | 3.96% |
| Appreciation Year (1-5) | 9.9% |
| Maintenance Year (1-5) | 8.00% |
| Vacancy | 7.63% |
| 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
$91,875
LOAN DETAILS
$1,129
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 3.75% |
| Down Payment | $81,250 |
| Loan Amount | $243,750 |
3.83
YEARS SAVED
$11,431
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$1,330
LIST RENT -
$0.94
LIST RENT PER SQFT
-
$1,324
COMP ESTIMATED VALUE -
$0.94
COMP AVG. RENT PER SQFT
Comps Range
-
5418 Night Swim Lane Las Vegas, NV 1
- 3 beds 3 baths ∙ 1,412 Sqft ∙ Built 1994 3 beds 3 baths ∙ 1,412 Sqft ∙ Built 1994
- Rent
- Rent Per SQFT
- $1,330
- $0.94
-
5460 Morning Swim Las Vegas, NV 2
- 3 beds 2 baths ∙ 1,594 Sqft ∙ Built 1994 3 beds 2 baths ∙ 1,594 Sqft ∙ Built 1994
LEASED 04/29/20- Rent
- Rent Per SQFT
- $1,400
- $0.88
-
5432 Morning Swim Lane #n/a Las Vegas, NV 3
- 3 beds 2 baths ∙ 1,595 Sqft ∙ Built 1994 3 beds 2 baths ∙ 1,595 Sqft ∙ Built 1994
LEASED 04/14/20- Rent
- Rent Per SQFT
- $1,450
- $0.91
-
5471 Lonesome Biker Las Vegas, NV 4
- 3 beds 2 baths ∙ 1,595 Sqft ∙ Built 1993 3 beds 2 baths ∙ 1,595 Sqft ∙ Built 1993
LEASED 05/14/20- Rent
- Rent Per SQFT
- $1,500
- $0.94
-
5438 Olympic Spirit Lane Las Vegas, NV 5
- 3 beds 2 baths ∙ 1,594 Sqft ∙ Built 1994 3 beds 2 baths ∙ 1,594 Sqft ∙ Built 1994
LEASED 11/03/20- Rent
- Rent Per SQFT
- $1,625
- $1.02
PROPERTY LISTING DETAILS
1.702.234.0035
Bhhs Nevada Properties
1.866.250.5610
Mynd Property Management
1453579
MLS #: 2270692
Last Updated: 02/20/2021
