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5424 Flora Spray Street Las Vegas, NV 89130

3 Beds 2 Baths 1,774 sqft Built 1996

$350,000

List Price

$1,540

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
July 12, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1996
  • Price/Sqft : $197.29
  • 2 Days on Market
  • MLS # : 2314022
  • Updated Date : 07/13/2021 at 18:44
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,774 sqft
  • Baths : 2 full
Listing Agent

American Realty Properties Llc

Listing Agent's Description

Great one story home in the northwest on a pool size lot with NO HOA-do what you want with your own home. Cozy up to your double fireplace on a cold winter night. Stucco covered patio gets you started making the backyard an oasis to retreat to all year long. Plenty of space to store all your toys in the three car garage. This home has great potential for the person with a decorating eye. Great investment for the savvy investor. Convenient to freeways, schools, shopping, restaurants, & more

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: Centennial Hills

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320k340k360kPrice in $119k362k

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

Neighborhood: Centennial Hills

NeighborhoodNIR Market*CityMarket2010Year20002019 Q211001200130014001500160017001800Rent in $10761875

* 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
 

$315,000$385,000$350,000

PURCHASE PRICE

$1,386$1,694$1,540

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,540
EXPENSES Loan Payment -$1,216
Property Tax -$245
Property Insurance -$62
Property Management Fees -$119
CASH FLOW
-$101

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.

$350,000

PROJECTED PRICE

$1,540

PROJECTED RENT

0.44%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.05%
Appreciation Year (1-5) 10.3%
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$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$98,500

INVESTMENT

$98,500

Down Payment
$87,500
Rehab Estimate
$5,750
Closing Costs
$5,250

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,216

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $87,500
Loan Amount $262,500
See What Happens When You Reinvest Cash Flow

4.33

YEARS SAVED

$14,747

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,540

    LIST RENT
  • $0.87

    LIST RENT PER SQFT
  • $1,619

    COMP ESTIMATED VALUE
  • $0.91

    COMP AVG. RENT PER SQFT
Comps Range
$1,540
1$1,5402$1,5753$1,6954$1,7005$1,700
$1,700
RENT COMPS ANALYSIS
  • 5424 Flora Spray Street Las Vegas, NV 1
    • 3 beds 2 baths ∙ 1,774 Sqft ∙ Built 1996 3 beds 2 baths ∙ 1,774 Sqft ∙ Built 1996
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,540
    • $0.87
    •  
  • 5619 Bishop Flowers Street Las Vegas, NV 2
    • 3 beds 3 baths ∙ 1,764 Sqft ∙ Built 2014 3 beds 3 baths ∙ 1,764 Sqft ∙ Built 2014
    property image
    LEASED 09/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,575
    • $0.89
    •  
  • 6746 Scarlet Star Avenue Las Vegas, NV 3
    • 4 beds 4 baths ∙ 1,740 Sqft ∙ Built 2006 4 beds 4 baths ∙ 1,740 Sqft ∙ Built 2006
    property image
    LEASED 08/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $0.97
    •  
  • 6947 Yellow Cosmos Avenue Las Vegas, NV 4
    • 4 beds 3 baths ∙ 1,921 Sqft ∙ Built 2013 4 beds 3 baths ∙ 1,921 Sqft ∙ Built 2013
    property image
    LEASED 05/14/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $0.88
    •  
  • 7000 Rotunda Las Vegas, NV 5
    • 3 beds 3 baths ∙ 1,865 Sqft ∙ Built 1996 3 beds 3 baths ∙ 1,865 Sqft ∙ Built 1996
    property image
    LEASED 06/18/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $0.91
    •  
PROPERTY LISTING DETAILS
Bryan Pellican
1.702.641.3590
American Realty Properties Llc
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2314022
Last Updated: 07/13/2021
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