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5429 Strawberry Swing Street North Las Vegas, NV 89081

4 Beds 3 Baths 2,157 sqft Built 2019

INVESTimate

$479,950

List Price

$1,660

$1,494 - $1,826

Rent Est.

$533,272  ( +11.11%)   1 YR EST. FORECAST

PROPERTY INFO

Built 2019 NEW CONSTRUCTION
August 22, 2020 RECENTLY ADDED
FACTS
  • Built In 2019
  • Price/Sqft : $222.51
  • 6 Days on Market
  • MLS # : 2224048
  • Updated Date : 08/21/2020 at 18:50
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,157 sqft
  • Baths : 3 full
Listing Agent

Real Estate Consultants Of Nv

Listing Agent's Description

** RICHMOND AMERICAN SHOWCASE MODEL HOME ** Feature include 10' ceilings w/8' doors throughout, deluxe master bath, center-meet sliding doors at great room, extended covered patio, upgraded and additional insulation, upgraded and additional lighting fixtures, additional windows, contemporary fireplace at great room, Epicurean stainless-steel appliance package w/cooktop hood, Signature maple cabinets w/painted harbor finish and door hardware, additional nook cabinets, upgraded quartz kitchen and bath countertops, tile backsplash at kitchen, washer/dryer, stainless-steel bath faucets and accessories, upgraded carpet at bedrooms, upgraded 12"x24" ceramic tile flooring at bathrooms; luxury vinyl flooring throughout remainder of home; two-tone interior paint, laundry cabinets, security system, complete landscaping, + much more!

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MARKET HIGHLIGHTS

  • 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

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260k280kPrice in $84k296k

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

Neighborhood: North Las Vegas

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21000105011001150120012501300135014001450150015501600Rent in $9651603

* 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
Jesse Scott Elementary School Primary Regular 853 45 2
Clifford O. Findlay Middle School Middle Regular 1,372 59 NA
Mojave High School High Regular 2,311 103 2

Jesse Scott Elementary School

  • Education Level: Primary
  • # of students: 853
  • # of teachers: 45
2
GreatSchools Rating

Clifford O. Findlay Middle School

  • Education Level: Middle
  • # of students: 1,372
  • # of teachers: 59
NA
GreatSchools Rating

Mojave High School

  • Education Level: High
  • # of students: 2,311
  • # of teachers: 103
2
GreatSchools Rating
 

$431,955$527,945$479,950

PURCHASE PRICE

$1,494$1,826$1,660

RENT

DOWN PAYMENT
FINANCING

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M$1.6M$1.8M

PROJECTED ANNUAL CASH FLOW

11530-$12k-$10k-$8.0k-$6.0k-$4.0k-$2.0k$0.0$2.0k$4.0k$6.0k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M$1.6M$1.8M

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,660
EXPENSES Loan Payment -$1,771
Property Tax -$365
Property Insurance -$69
HOA -$95
Property Management Fees -$119
CASH FLOW
-$758

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 12% of earned rent to cover both maintenance and periods of vacancy.

$479,950

PROJECTED PRICE

$1,660

PROJECTED RENT

0.35%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.75%
Appreciation Year (1-5) 11.11%
Maintenance Year (1-5) 3.00%
Vacancy 8.50%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$129,187

INVESTMENT

$129,187

Down Payment
$119,988
Rehab Estimate
$2,000
Closing Costs
$7,199

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 70% down payment or higher enables the proceeds from the asset to cover all costs.

$1,771

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $119,988
Loan Amount $359,963
See What Happens When You Reinvest Cash Flow

0.17

YEARS SAVED

$84

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,660

    LIST RENT
  • $0.77

    LIST RENT PER SQFT
  • $1,451

    COMP ESTIMATED VALUE
  • $0.67

    COMP AVG. RENT PER SQFT
Comps Range
$1,400
1$1,4002$1,5003$1,5504$1,6605$1,700
$1,700
RENT COMPS ANALYSIS
  • 5429 Strawberry Swing Street North Las Vegas, NV 4
    • 4 beds 3 baths ∙ 2,157 Sqft ∙ Built 2019 4 beds 3 baths ∙ 2,157 Sqft ∙ Built 2019
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,660
    • $0.77
    •  
  • 808 Caballo Hills Avenue North Las Vegas, NV 1
    • 4 beds 3 baths ∙ 2,249 Sqft ∙ Built 2006 4 beds 3 baths ∙ 2,249 Sqft ∙ Built 2006
    property image
    LEASED 10/04/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,400
    • $0.62
    •  
  • 5309 La Quinta Hills Street North Las Vegas, NV 2
    • 4 beds 3 baths ∙ 2,249 Sqft ∙ Built 2005 4 beds 3 baths ∙ 2,249 Sqft ∙ Built 2005
    property image
    LEASED 09/23/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $0.67
    •  
  • 5125 Teal Petals Street North Las Vegas, NV 3
    • 4 beds 3 baths ∙ 2,302 Sqft ∙ Built 2007 4 beds 3 baths ∙ 2,302 Sqft ∙ Built 2007
    property image
    LEASED 08/23/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $0.67
    •  
  • 2305 Clarington Avenue North Las Vegas, NV 5
    • 4 beds 3 baths ∙ 2,316 Sqft ∙ Built 2006 4 beds 3 baths ∙ 2,316 Sqft ∙ Built 2006
    property image
    LEASED 02/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $0.73
    •  
PROPERTY LISTING DETAILS
Frank J Gargano
1.702.596.2040
Real Estate Consultants Of Nv
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2224048
Last Updated: 08/21/2020
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