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5425 Desert Mirage Street 
North Las Vegas, NV
89081
4 Beds 2 Baths 2,370 sqft
Built 2018
INVESTimate
$370,000
List Price
$103,800
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PROPERTY INFO
FACTS
- Built In 2018
- Price/Sqft : $156.12
- 3 Days on Market
- MLS # : 2222018
- Updated Date : 08/24/2020 at 14:00
CONSTRUCTION
- Beds : 4
- Floor Size : 2,370 sqft
- Baths : 2 full
Listing Agent
Keller Williams Market Place
Listing Agent's Description
*MODEL 2730*MODERN TWO STORY ON LARGE LOT*LOW MAINTENANCE DESERT LANDSCAPING*SPACIOUS TWO CAR GARAGE PROVIDING TONS OF PARKING SPACE*FACADE WITH STONE*OPEN FLOOR PLAN PROVIDING BEDROOM/BATHROOM DOWNSTAIRS*KITCHEN WITH CORNERED PANTRY, ISLAND, BREAKFAST BAR, BUILT IN MICROWAVE, BACK SPLASH, GRANITE COUNTER TOPS, RECESSED LIGHTING, STAINLESS STEEL APPLIANCES & DINING AREA*OPEN FAMILY ROOM WITH TONS OF NATURAL LIGHTING*LOFT AREA UPSTAIRS*MASTER BEDROOM UPSTAIRS*MASTER BATH WITH SEPARATE TUB/SHOWER & DOUBLE SINKS*LARGE WALK-IN CLOSET WITH STORAGE*SPACIOUS BEDROOMS*LARGE BACKYARD WITH DESERT ROCK/GRAVEL LANDSCAPING*PROPERTY IS LOCATED NEAR SHOPPING & DINING*
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: North Las Vegas
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: North Las Vegas
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
PROJECTED ACCUMULATED WEALTH
30 YEAR PROJECTION
- Cash Flow
- Appreciation
- Principal
PROJECTED ANNUAL CASH FLOW
PROJECTED PROPERTY VALUE
30 YEAR PROJECTION
- Appreciation
- Principal
- Loan Balance
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $1,620 |
| EXPENSES | Loan Payment | -$1,365 |
| Property Tax | -$314 | |
| Property Insurance | -$73 | |
| HOA | -$68 | |
| Property Management Fees | -$119 | |
|
CASH FLOW
-$319
|
||
This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 17% of earned rent to cover both maintenance and periods of vacancy.
$370,000
PROJECTED PRICE
$1,620
PROJECTED RENT
0.44%
PROJECTED RENT / PRICE RATIO
| Expense Inflation | 2.50% |
| Rental Growth Year (1-5) | 3.75% |
| Appreciation Year (1-5) | 11.11% |
| Maintenance Year (1-5) | 8.00% |
| Vacancy | 8.50% |
| Length of Stay Years | 2 |
TOTAL CASH OUT OF POCKET
INVESTMENT
$103,800
LOAN DETAILS
$1,365
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 4.25% |
| Down Payment | $92,500 |
| Loan Amount | $277,500 |
1.33
YEARS SAVED
$3,181
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$1,620
LIST RENT -
$0.68
LIST RENT PER SQFT
-
$1,629
COMP ESTIMATED VALUE -
$0.69
COMP AVG. RENT PER SQFT
Comps Range
-
5425 Desert Mirage Street North Las Vegas, NV 1
- 4 beds 2 baths ∙ 2,370 Sqft ∙ Built 2018 4 beds 2 baths ∙ 2,370 Sqft ∙ Built 2018
![property image]()
- Rent
- Rent Per SQFT
- $1,620
- $0.68
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5448 Ayers Cliff Street North Las Vegas, NV 2
- 4 beds 2 baths ∙ 2,528 Sqft ∙ Built 2006 4 beds 2 baths ∙ 2,528 Sqft ∙ Built 2006
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LEASED 12/06/19- Rent
- Rent Per SQFT
- $1,625
- $0.64
-
2305 Clarington Avenue North Las Vegas, NV 3
- 4 beds 3 baths ∙ 2,316 Sqft ∙ Built 2006 4 beds 3 baths ∙ 2,316 Sqft ∙ Built 2006
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LEASED 02/27/20- Rent
- Rent Per SQFT
- $1,700
- $0.73
-
5312 Manor Stone North Las Vegas, NV 4
- 4 beds 3 baths ∙ 2,423 Sqft ∙ Built 2004 4 beds 3 baths ∙ 2,423 Sqft ∙ Built 2004
![property image]()
LEASED 06/01/20- Rent
- Rent Per SQFT
- $1,700
- $0.70
-
5242 Spring Canyon Street North Las Vegas, NV 5
- 5 beds 3 baths ∙ 2,556 Sqft ∙ Built 2007 5 beds 3 baths ∙ 2,556 Sqft ∙ Built 2007
![property image]()
LEASED 11/01/19- Rent
- Rent Per SQFT
- $1,750
- $0.68
PROPERTY LISTING DETAILS
1.702.456.5959
Keller Williams Market Place
1.866.250.5610
Mynd Property Management
1453579
MLS #: 2222018
Last Updated: 08/24/2020
