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5437 Desert Mirage Street 
North Las Vegas, NV
89081
3 Beds 3 Baths 1,761 sqft
Built 2018
INVESTimate
$334,000
List Price
$94,260
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PROPERTY INFO
FACTS
- Built In 2018
- Price/Sqft : $189.66
- 3 Days on Market
- MLS # : 2221944
- Updated Date : 08/24/2020 at 14:00
CONSTRUCTION
- Beds : 3
- Floor Size : 1,761 sqft
- Baths : 2 full , 1 half
Listing Agent
Keller Williams Market Place
Listing Agent's Description
*MODEL 1763*BEAUTIFUL TWO STORY NEW BUILD BY HARMONY HOMES*UNIQUE CLEAN LANDSCAPING*SPACIOUS TWO CAR GARAGE WITH AMPLE PARKING SPACE*MODERN STONE DETAILING ON FACADE*COVERED PORCH WITH MODERN FRONT ENTRY*OPEN FLOOR PLAN WITH TONS OF NATURAL LIGHTING & RECESSED LIGHTING*BATH DOWNSTAIRS*KITCHEN WITH ISLAND & BREAKFAST BAR, MODERN BACK SPLASH, STAINLESS STEEL APPLIANCES, RECESSED LIGHTING, CUSTOM CABINETS PROVIDING AMPLE STORAGE SPACE, PANTRY & BUILT IN MICROWAVE*LARGE FAMILY ROOM*MASTER BEDROOM DOWNSTAIRS*MASTER BATH WITH SEPARATE TUB/SHOWER & DOUBLE SEPARATE SINKS*LARGE WALK-IN CLOSET IN MASTER*UPSTAIRS LOFT*OPEN BACKYARD WITH 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 | $1,330 |
| EXPENSES | Loan Payment | -$1,232 |
| Property Tax | -$272 | |
| Property Insurance | -$61 | |
| HOA | -$68 | |
| Property Management Fees | -$119 | |
|
CASH FLOW
-$422
|
||
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.
$334,000
PROJECTED PRICE
$1,330
PROJECTED RENT
0.40%
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
$94,260
LOAN DETAILS
$1,232
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 4.25% |
| Down Payment | $83,500 |
| Loan Amount | $250,500 |
0.42
YEARS SAVED
$322
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$1,330
LIST RENT -
$0.76
LIST RENT PER SQFT
-
$1,448
COMP ESTIMATED VALUE -
$0.82
COMP AVG. RENT PER SQFT
Comps Range
-
5437 Desert Mirage Street North Las Vegas, NV 1
- 3 beds 3 baths ∙ 1,761 Sqft ∙ Built 2018 3 beds 3 baths ∙ 1,761 Sqft ∙ Built 2018
- Rent
- Rent Per SQFT
- $1,330
- $0.76
-
5293 Pendergrass Street #0 North Las Vegas, NV 2
- 3 beds 3 baths ∙ 1,727 Sqft ∙ Built 2006 3 beds 3 baths ∙ 1,727 Sqft ∙ Built 2006
LEASED 02/21/20- Rent
- Rent Per SQFT
- $1,400
- $0.81
-
5217 Painted Pebble Street North Las Vegas, NV 3
- 4 beds 1 baths ∙ 1,758 Sqft ∙ Built 2003 4 beds 1 baths ∙ 1,758 Sqft ∙ Built 2003
LEASED 12/06/19- Rent
- Rent Per SQFT
- $1,450
- $0.82
-
5336 Pendergrass North Las Vegas, NV 4
- 3 beds 3 baths ∙ 1,771 Sqft ∙ Built 2007 3 beds 3 baths ∙ 1,771 Sqft ∙ Built 2007
LEASED 03/30/20- Rent
- Rent Per SQFT
- $1,495
- $0.84
-
1424 Laughing Larkspur Avenue North Las Vegas, NV 5
- 3 beds 2 baths ∙ 1,820 Sqft ∙ Built 2003 3 beds 2 baths ∙ 1,820 Sqft ∙ Built 2003
LEASED 08/27/19- Rent
- Rent Per SQFT
- $1,500
- $0.82
PROPERTY LISTING DETAILS
1.702.456.5959
Keller Williams Market Place
1.866.250.5610
Mynd Property Management
1453579
MLS #: 2221944
Last Updated: 08/24/2020
