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5433 Strawberry Swing Street North Las Vegas, NV 89081

3 Beds 2 Baths 1,918 sqft Built 2019

INVESTimate

$459,950

List Price

$1,670

$1,503 - $1,837

Rent Est.

$511,050  ( +11.11%)   1 YR EST. FORECAST

PROPERTY INFO

Built 2019 NEW CONSTRUCTION
August 22, 2020 RECENTLY ADDED
FACTS
  • Built In 2019
  • Price/Sqft : $239.81
  • 6 Days on Market
  • MLS # : 2224047
  • Updated Date : 08/24/2020 at 15:16
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,918 sqft
  • Baths : 2 full
Listing Agent

Real Estate Consultants Of Nv

Listing Agent's Description

** RICHMOND AMERICAN SHOWCASE MODEL HOME ** This home features 10' ceilings w/8' doors throughout, center-meet sliding doors at courtyard and great room, covered courtyard, extended covered patio, walk-in shower at master bath, upgraded and additional insulation, upgraded and additional lighting fixtures, additional windows, Elements slate appliance package w/side-by-side refrigerator, Premier cherry cabinets w/slate finish and door hardware, upgraded quartz kitchen, laundry and bath countertops; tile backsplash at kitchen, washer/dryer, upgraded stainless-steel bath faucets and accessories, upgraded carpet at bedrooms, 7"x20" ceramic tile flooring throughout remainder of home, two-tone interior paint, laundry sink and 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
 

$413,955$505,945$459,950

PURCHASE PRICE

$1,503$1,837$1,670

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

PROJECTED ANNUAL CASH FLOW

11530-$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

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,670
EXPENSES Loan Payment -$1,697
Property Tax -$347
Property Insurance -$64
HOA -$95
Property Management Fees -$119
CASH FLOW
-$653

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.

$459,950

PROJECTED PRICE

$1,670

PROJECTED RENT

0.36%

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$123,887

INVESTMENT

$123,887

Down Payment
$114,988
Rehab Estimate
$2,000
Closing Costs
$6,899

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,697

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $114,988
Loan Amount $344,963
See What Happens When You Reinvest Cash Flow

0.25

YEARS SAVED

$114

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,670

    LIST RENT
  • $0.87

    LIST RENT PER SQFT
  • $1,525

    COMP ESTIMATED VALUE
  • $0.79

    COMP AVG. RENT PER SQFT
Comps Range
$1,325
1$1,3252$1,4503$1,4754$1,5005$1,670
$1,670
RENT COMPS ANALYSIS
  • 5433 Strawberry Swing Street North Las Vegas, NV 5
    • 3 beds 2 baths ∙ 1,918 Sqft ∙ Built 2019 3 beds 2 baths ∙ 1,918 Sqft ∙ Built 2019
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,670
    • $0.87
    •  
  • 5208 Painted Pebble Street North Las Vegas, NV 1
    • 4 beds 2 baths ∙ 1,750 Sqft ∙ Built 2003 4 beds 2 baths ∙ 1,750 Sqft ∙ Built 2003
    property image
    LEASED 11/27/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,325
    • $0.76
    •  
  • 5217 Painted Pebble Street North Las Vegas, NV 2
    • 4 beds 1 baths ∙ 1,758 Sqft ∙ Built 2003 4 beds 1 baths ∙ 1,758 Sqft ∙ Built 2003
    property image
    LEASED 12/06/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $0.82
    •  
  • 716 Laguna Heights Avenue North Las Vegas, NV 3
    • 4 beds 3 baths ∙ 1,896 Sqft ∙ Built 2004 4 beds 3 baths ∙ 1,896 Sqft ∙ Built 2004
    property image
    LEASED 06/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,475
    • $0.78
    •  
  • 1424 Laughing Larkspur Avenue North Las Vegas, NV 4
    • 3 beds 2 baths ∙ 1,820 Sqft ∙ Built 2003 3 beds 2 baths ∙ 1,820 Sqft ∙ Built 2003
    property image
    LEASED 08/27/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $0.82
    •  
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 #: 2224047
Last Updated: 08/24/2020
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