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5429 Zone Avenue Las Vegas, NV 89122

2 Beds 1 Baths 1,330 sqft Built 1996

$260,500

List Price

$1,150

$1K - $1.3K

Rent Est.

PROPERTY INFO

November 24, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1996
  • Price/Sqft : $195.86
  • 7 Days on Market
  • MLS # : 2250349
  • Updated Date : 11/23/2020 at 21:30
CONSTRUCTION
  • Beds : 2
  • Floor Size : 1,330 sqft
  • Baths : 1 full
Listing Agent

Silver Dome Realty

Listing Agent's Description

Charming, immaculate single story home. with a 2 car garage. 2 bedrooms plus a den. Spacious living room with a cozy fireplace and high vaulted ceiling, TV nook, pot shelves, surround sound speakers, and ceiling fan. The den off the living room could be an office or with improvements a 3rd bedroom. Sunny kitchen with oak cabinets, corian counters, pantry closet, recessed lighting, eating bar, and breakfast nook. Double sink, refrigerator, stove, dishwasher and sliding door to the patio. Primary Bedroom with a vaulted ceiling, large walk-in closet, and primary bath with a garden tub and shower. Both bedrooms have ceiling fans, & TV. outlets. Hall has a linen closet, & coat closet. Laundry includes washer and dryer. Large pool size backyard, and covered patio. Raised panel doors, vertical blinds, solar screens on some windows, ground mounted air conditioner.

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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)

PRICE & RENT TRENDS

Neighborhood: Sunrise Manor

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260k280kPrice in $83k296k

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

Neighborhood: Sunrise Manor

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21000105011001150120012501300135014001450150015501600Rent in $9591603

* 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
Cynthia Cunningham Elementary School Primary Regular 801 38 4
Francis Cortney Middle School Middle Regular 1,235 52 NA
Chaparral High School High Regular 2,270 87 3

Cynthia Cunningham Elementary School

  • Education Level: Primary
  • # of students: 801
  • # of teachers: 38
4
GreatSchools Rating

Francis Cortney Middle School

  • Education Level: Middle
  • # of students: 1,235
  • # of teachers: 52
NA
GreatSchools Rating

Chaparral High School

  • Education Level: High
  • # of students: 2,270
  • # of teachers: 87
3
GreatSchools Rating
 

$234,450$286,550$260,500

PURCHASE PRICE

$1,035$1,265$1,150

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,150
EXPENSES Loan Payment -$961
Property Tax -$148
Property Insurance -$53
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 17% of earned rent to cover both maintenance and periods of vacancy.

$260,500

PROJECTED PRICE

$1,150

PROJECTED RENT

0.44%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.75%
Appreciation Year (1-5) 12.8%
Maintenance Year (1-5) 8.00%
Vacancy 8.50%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$200k$400k$600k$800k$1.0M

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$74,783

INVESTMENT

$74,783

Down Payment
$65,125
Rehab Estimate
$5,750
Closing Costs
$3,908

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$961

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $65,125
Loan Amount $195,375
See What Happens When You Reinvest Cash Flow

3.25

YEARS SAVED

$8,119

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,150

    LIST RENT
  • $0.86

    LIST RENT PER SQFT
  • $1,174

    COMP ESTIMATED VALUE
  • $0.88

    COMP AVG. RENT PER SQFT
Comps Range
$895
1$8952$1,0503$1,0754$1,0955$1,150
$1,150
RENT COMPS ANALYSIS
  • 5429 Zone Avenue Las Vegas, NV 5
    • 2 beds 1 baths ∙ 1,330 Sqft ∙ Built 1996 2 beds 1 baths ∙ 1,330 Sqft ∙ Built 1996
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,150
    • $0.86
    •  
  • 5710 East Tropicana Avenue #2162 Las Vegas, NV 1
    • 2 beds 1 baths ∙ 1,050 Sqft ∙ Built 1999 2 beds 1 baths ∙ 1,050 Sqft ∙ Built 1999
    property image
    LEASED 10/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $895
    • $0.85
    •  
  • 4665 Dealers Choice Way #102 Las Vegas, NV 2
    • 2 beds 3 baths ∙ 1,170 Sqft ∙ Built 2007 2 beds 3 baths ∙ 1,170 Sqft ∙ Built 2007
    property image
    LEASED 04/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,050
    • $0.90
    •  
  • 5550 Box Cars Court #101 Las Vegas, NV 3
    • 2 beds 2 baths ∙ 1,218 Sqft ∙ Built 2009 2 beds 2 baths ∙ 1,218 Sqft ∙ Built 2009
    property image
    LEASED 11/05/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,075
    • $0.88
    •  
  • 4780 Double Down Drive #101 Las Vegas, NV 4
    • 2 beds 2 baths ∙ 1,218 Sqft ∙ Built 2007 2 beds 2 baths ∙ 1,218 Sqft ∙ Built 2007
    property image
    LEASED 07/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,095
    • $0.90
    •  
PROPERTY LISTING DETAILS
Shari A Springer
1.702.521.9901
Silver Dome Realty
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2250349
Last Updated: 11/23/2020
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