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5434 Sea Water Way North Las Vegas, NV 89031

3 Beds 2 Baths 1,696 sqft Built 2002

$290,000

List Price

$1,320

$1.2K - $1.5K

Rent Est.

PROPERTY INFO

FACTS
  • Built In 2002
  • Price/Sqft : $170.99
  • 9 Days on Market
  • MLS # : 2242511
  • Updated Date : 10/26/2020 at 20:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,696 sqft
  • Baths : 2 full
Listing Agent

Tr Realty

Listing Agent's Description

Super Neat Single Story Home w/Smart Floor Plan Features Living & Dining Rooms, Pantry & Cabinet Storage Pass-By to Kitchen, Breakfast Nook & Family Room, Separate Primary Suite + 2 More Bedrooms, Desert Landscaping & Synthetic Grass in Front Yard, Covered Patio & BB Court in Back Yard.

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: Laguna Park

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260k280k300k320kPrice in $84k327k

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

Neighborhood: Laguna Park

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
Steve Cozine Elementary School Primary Regular 773 41 5
Brian And Teri Cram Middle School Middle Regular 1,568 65 NA
Mojave High School High Regular 2,311 103 2

Steve Cozine Elementary School

  • Education Level: Primary
  • # of students: 773
  • # of teachers: 41
5
GreatSchools Rating

Brian And Teri Cram Middle School

  • Education Level: Middle
  • # of students: 1,568
  • # of teachers: 65
NA
GreatSchools Rating

Mojave High School

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

$261,000$319,000$290,000

PURCHASE PRICE

$1,188$1,452$1,320

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,320
EXPENSES Loan Payment -$1,070
Property Tax -$227
Property Insurance -$60
Property Management Fees -$119
CASH FLOW
-$156

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.

$290,000

PROJECTED PRICE

$1,320

PROJECTED RENT

0.46%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.75%
Appreciation Year (1-5) 10.8%
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$12k

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$82,600

INVESTMENT

$82,600

Down Payment
$72,500
Rehab Estimate
$5,750
Closing Costs
$4,350

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 60% down payment or higher enables the proceeds from the asset to cover all costs.

$1,070

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $72,500
Loan Amount $217,500
See What Happens When You Reinvest Cash Flow

2.92

YEARS SAVED

$7,653

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,320

    LIST RENT
  • $0.78

    LIST RENT PER SQFT
  • $1,378

    COMP ESTIMATED VALUE
  • $0.81

    COMP AVG. RENT PER SQFT
Comps Range
$1,320
1$1,3202$1,4003$1,4504$1,4755$1,600
$1,600
RENT COMPS ANALYSIS
  • 5434 Sea Water Way North Las Vegas, NV 1
    • 3 beds 2 baths ∙ 1,696 Sqft ∙ Built 2002 3 beds 2 baths ∙ 1,696 Sqft ∙ Built 2002
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,320
    • $0.78
    •  
  • 1701 Santa Rosalia Drive #0 North Las Vegas, NV 2
    • 4 beds 2 baths ∙ 1,719 Sqft ∙ Built 1992 4 beds 2 baths ∙ 1,719 Sqft ∙ Built 1992
    property image
    LEASED 04/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,400
    • $0.81
    •  
  • 1531 Laguna Palms Avenue Las Vegas, NV 3
    • 3 beds 2 baths ∙ 1,872 Sqft ∙ Built 2005 3 beds 2 baths ∙ 1,872 Sqft ∙ Built 2005
    property image
    LEASED 01/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $0.77
    •  
  • 1850 Shining Elm Court North Las Vegas, NV 4
    • 3 beds 3 baths ∙ 1,827 Sqft ∙ Built 2005 3 beds 3 baths ∙ 1,827 Sqft ∙ Built 2005
    property image
    LEASED 04/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,475
    • $0.81
    •  
  • 1841 Arrow Stone Court #0 North Las Vegas, NV 5
    • 3 beds 3 baths ∙ 1,859 Sqft ∙ Built 2005 3 beds 3 baths ∙ 1,859 Sqft ∙ Built 2005
    property image
    LEASED 06/26/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $0.86
    •  
PROPERTY LISTING DETAILS
Allan Lovinger
1.702.743.3461
Tr Realty
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2242511
Last Updated: 10/26/2020
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