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5441 Desert Mirage Street North Las Vegas, NV 89081

3 Beds 3 Baths 1,533 sqft Built 2018

INVESTimate

$320,000

List Price

$1,290

$1,161 - $1,419

Rent Est.

$355,552  ( +11.11%)   1 YR EST. FORECAST

PROPERTY INFO

August 24, 2020 RECENTLY ADDED
FACTS
  • Built In 2018
  • Price/Sqft : $208.74
  • 3 Days on Market
  • MLS # : 2222084
  • Updated Date : 08/24/2020 at 14:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,533 sqft
  • Baths : 2 full , 1 half
Listing Agent

Keller Williams Market Place

Listing Agent's Description

*MODEL 1536*ONE STORY HOME IN THE HEART OF NORTH LAS VEGAS*BEAUTIFUL BUILD BY HARMONY HOMES*OPEN FLOOR PLAN WITH TONS OF NATURAL LIGHTING*KITCHEN WITH ISLAND, BREAKFAST BAR, BACK SPLASH, CUSTOM CABINETS, STAINLESS STEEL APPLIANCES, PANTRY & RECESSED LIGHTING*SPACIOUS BEDROOMS*MASTER BATHROOM WITH DOUBLE SINKS & SEPARATE SHOWER/TUB*OPEN BACKYARD WITH TONS OF SPACE*PROPERTY IS LOCATED NEAR SHOPPING & DINING*

SEE MORE

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
 

$288,000$352,000$320,000

PURCHASE PRICE

$1,161$1,419$1,290

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

PROJECTED ANNUAL CASH FLOW

11530-$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

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,290
EXPENSES Loan Payment -$1,181
Property Tax -$262
Property Insurance -$57
HOA -$68
Property Management Fees -$119
CASH FLOW
-$397

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.

$320,000

PROJECTED PRICE

$1,290

PROJECTED RENT

0.40%

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) 8.00%
Vacancy 8.50%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$90,550

INVESTMENT

$90,550

Down Payment
$80,000
Rehab Estimate
$5,750
Closing Costs
$4,800

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,181

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $80,000
Loan Amount $240,000
See What Happens When You Reinvest Cash Flow

0.42

YEARS SAVED

$408

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,290

    LIST RENT
  • $0.84

    LIST RENT PER SQFT
  • $1,318

    COMP ESTIMATED VALUE
  • $0.86

    COMP AVG. RENT PER SQFT
Comps Range
$1,290
1$1,2902$1,2953$1,3504$1,3505$1,425
$1,425
RENT COMPS ANALYSIS
  • 5441 Desert Mirage Street North Las Vegas, NV 1
    • 3 beds 3 baths ∙ 1,533 Sqft ∙ Built 2018 3 beds 3 baths ∙ 1,533 Sqft ∙ Built 2018
    • Rent
    • Rent Per SQFT
    •  
    • $1,290
    • $0.84
    •  
  • 5425 Brazelton Street North Las Vegas, NV 2
    • 3 beds 3 baths ∙ 1,458 Sqft ∙ Built 2010 3 beds 3 baths ∙ 1,458 Sqft ∙ Built 2010
    LEASED 11/21/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,295
    • $0.89
    •  
  • 5121 First Sun Street Las Vegas, NV 3
    • 3 beds 2 baths ∙ 1,615 Sqft ∙ Built 2006 3 beds 2 baths ∙ 1,615 Sqft ∙ Built 2006
    LEASED 08/30/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,350
    • $0.84
    •  
  • 1023 Emerald Stone Avenue #none North Las Vegas, NV 4
    • 3 beds 3 baths ∙ 1,584 Sqft ∙ Built 2001 3 beds 3 baths ∙ 1,584 Sqft ∙ Built 2001
    LEASED 09/02/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,350
    • $0.85
    •  
  • 5716 Breezy Wind Court North Las Vegas, NV 5
    • 4 beds 2 baths ∙ 1,660 Sqft ∙ Built 2004 4 beds 2 baths ∙ 1,660 Sqft ∙ Built 2004
    LEASED 10/24/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,425
    • $0.86
    •  
PROPERTY LISTING DETAILS
Richard J Brenkus
1.702.456.5959
Keller Williams Market Place
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2222084
Last Updated: 08/24/2020
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