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5421 Red Sun Drive Las Vegas, NV 89149

3 Beds 3 Baths 1,937 sqft Built 1993

$415,000

List Price

$1,720

$1.5K - $1.9K

Rent Est.

PROPERTY INFO

December 13, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1993
  • Price/Sqft : $214.25
  • 5 Days on Market
  • MLS # : 2255272
  • Updated Date : 12/12/2020 at 22:10
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,937 sqft
  • Baths : 2 full , 1 half
Listing Agent

Platinum R.e. Professionals

Listing Agent's Description

Turnkey Model Home. Move-In Ready! This immaculately cared for home located in Painted Desert sits at the end of the Cul-de-sac on an Oversized Lot. Lush, Mature Landscaping in Front and Back yard. Property includes a brand new built pool with Waterfall and Fire features and custom child security gates! Perfect back yard Oasis-Fire Pit Included and Gas Lined for Easy Entertainment for Family and Friends! BBQ Gas Line also ready for your Custom Outdoor Kitchen connection. House has been freshly painted and features custom light fixtures throughout the home and Frigidaire Gallery-SS Appliances. Smart thermostat. Three wall mounted Flat Screen TV's WILL stay. Gated community with 24 hour guard patrol. Wonderful neighborhood with Mountain Views.

SEE MORE

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: Painted Desert

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320k340k360kPrice in $119k362k

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

Neighborhood: Painted Desert

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2110012001300140015001600170018001900Rent in $10761989

* 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
Dean Lamar Allen Elementary School Primary Regular 660 32 6
Justice M E Leavitt Middle School Middle Regular 1,496 64 NA
Centennial High School High Regular 3,055 124 6

Dean Lamar Allen Elementary School

  • Education Level: Primary
  • # of students: 660
  • # of teachers: 32
6
GreatSchools Rating

Justice M E Leavitt Middle School

  • Education Level: Middle
  • # of students: 1,496
  • # of teachers: 64
NA
GreatSchools Rating

Centennial High School

  • Education Level: High
  • # of students: 3,055
  • # of teachers: 124
6
GreatSchools Rating
 

$373,500$456,500$415,000

PURCHASE PRICE

$1,548$1,892$1,720

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,720
EXPENSES Loan Payment -$1,531
Property Tax -$250
Property Insurance -$65
Property Management Fees -$119
CASH FLOW
-$245

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.

$415,000

PROJECTED PRICE

$1,720

PROJECTED RENT

0.41%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

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
11530$0.0$200k$400k$600k$800k$1.0M$1.2M

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$115,725

INVESTMENT

$115,725

Down Payment
$103,750
Rehab Estimate
$5,750
Closing Costs
$6,225

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,531

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $103,750
Loan Amount $311,250
See What Happens When You Reinvest Cash Flow

3.25

YEARS SAVED

$12,678

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,720

    LIST RENT
  • $0.89

    LIST RENT PER SQFT
  • $1,738

    COMP ESTIMATED VALUE
  • $0.9

    COMP AVG. RENT PER SQFT
Comps Range
$1,595
1$1,5952$1,6003$1,6004$1,7205$1,800
$1,800
RENT COMPS ANALYSIS
  • 5421 Red Sun Drive Las Vegas, NV 4
    • 3 beds 3 baths ∙ 1,937 Sqft ∙ Built 1993 3 beds 3 baths ∙ 1,937 Sqft ∙ Built 1993
    • Rent
    • Rent Per SQFT
    •  
    • $1,720
    • $0.89
    •  
  • 5468 Royal Vista Lane #0 Las Vegas, NV 1
    • 3 beds 2 baths ∙ 1,741 Sqft ∙ Built 1993 3 beds 2 baths ∙ 1,741 Sqft ∙ Built 1993
    LEASED 12/22/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $0.92
    •  
  • 7758 Vista Sunrise Drive #n/a Las Vegas, NV 2
    • 3 beds 2 baths ∙ 1,742 Sqft ∙ Built 1991 3 beds 2 baths ∙ 1,742 Sqft ∙ Built 1991
    LEASED 06/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $0.92
    •  
  • 7912 Painted Rock Lane Las Vegas, NV 3
    • 3 beds 3 baths ∙ 1,937 Sqft ∙ Built 1991 3 beds 3 baths ∙ 1,937 Sqft ∙ Built 1991
    LEASED 05/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $0.83
    •  
  • 5712 Heatherwood Street Las Vegas, NV 5
    • 4 beds 3 baths ∙ 1,946 Sqft ∙ Built 1990 4 beds 3 baths ∙ 1,946 Sqft ∙ Built 1990
    LEASED 10/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $0.92
    •  
PROPERTY LISTING DETAILS
Robert A Webb
1.786.350.5434
Platinum R.e. Professionals
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2255272
Last Updated: 12/12/2020
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