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5451 Wheatberry Court North Las Vegas, NV 89031

4 Beds 3 Baths 1,838 sqft Built 2000

$280,000

List Price

$1,370

$1.2K - $1.5K

Rent Est.

PROPERTY INFO

November 01, 2020 RECENTLY ADDED
FACTS
  • Built In 2000
  • Price/Sqft : $152.34
  • 3 Days on Market
  • MLS # : 2243927
  • Updated Date : 11/02/2020 at 16:55
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,838 sqft
  • Baths : 2 full , 1 half
Listing Agent

Realty One Group, Inc

Listing Agent's Description

Sitting on a small cul-de-sac in a gated community, this 2-Story 4 bedroom home features an inviting floor plan located near retail shops and restaurants. Upon entry, an elegant formal living room accented with vaulted ceilings greet you. The kitchen features all stainless steel appliances, breakfast bar counter, and pantry. Downstairs detail all Pergo flooring throughout with newer carpet upstairs. With all bedrooms on second level for privacy, the primary bedroom is sizeable with double sink bathroom and walk-in closet. When not enjoying quiet time in the backyard, enjoy the community park within walking distance. Schedule YOUR PRIVATE TOUR today!

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: Arbor Gate

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260k280kPrice in $98k296k

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

Neighborhood: Arbor Gate

NeighborhoodNIR Market*CityMarket2010Year20002019 Q29009501000105011001150120012501300135014001450150015501600Rent in $8951606

* 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
Addeliar Guy Elementary School Primary Regular 641 35 5
Theron L. Swainston Middle School Middle Regular 1,146 52 NA
Cheyenne High School High Regular 2,212 91 2

Addeliar Guy Elementary School

  • Education Level: Primary
  • # of students: 641
  • # of teachers: 35
5
GreatSchools Rating

Theron L. Swainston Middle School

  • Education Level: Middle
  • # of students: 1,146
  • # of teachers: 52
NA
GreatSchools Rating

Cheyenne High School

  • Education Level: High
  • # of students: 2,212
  • # of teachers: 91
2
GreatSchools Rating
 

$252,000$308,000$280,000

PURCHASE PRICE

$1,233$1,507$1,370

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,370
EXPENSES Loan Payment -$1,033
Property Tax -$201
Property Insurance -$63
Property Management Fees -$119
CASH FLOW
-$46

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 16% of earned rent to cover both maintenance and periods of vacancy.

$280,000

PROJECTED PRICE

$1,370

PROJECTED RENT

0.49%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.96%
Appreciation Year (1-5) 11.1%
Maintenance Year (1-5) 8.00%
Vacancy 7.63%
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-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k

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$79,950

INVESTMENT

$79,950

Down Payment
$70,000
Rehab Estimate
$5,750
Closing Costs
$4,200

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 50% down payment or higher enables the proceeds from the asset to cover all costs.

$1,033

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $70,000
Loan Amount $210,000
See What Happens When You Reinvest Cash Flow

5.17

YEARS SAVED

$17,516

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,370

    LIST RENT
  • $0.75

    LIST RENT PER SQFT
  • $1,420

    COMP ESTIMATED VALUE
  • $0.77

    COMP AVG. RENT PER SQFT
Comps Range
$1,325
1$1,3252$1,3703$1,3954$1,3995$1,450
$1,450
RENT COMPS ANALYSIS
  • 5451 Wheatberry Court North Las Vegas, NV 2
    • 4 beds 3 baths ∙ 1,838 Sqft ∙ Built 2000 4 beds 3 baths ∙ 1,838 Sqft ∙ Built 2000
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,370
    • $0.75
    •  
  • 5401 Goldenseal Court #0 North Las Vegas, NV 1
    • 3 beds 3 baths ∙ 1,703 Sqft ∙ Built 2001 3 beds 3 baths ∙ 1,703 Sqft ∙ Built 2001
    property image
    LEASED 12/05/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,325
    • $0.78
    •  
  • 5437 Old Oak North Las Vegas, NV 3
    • 4 beds 3 baths ∙ 1,908 Sqft ∙ Built 2000 4 beds 3 baths ∙ 1,908 Sqft ∙ Built 2000
    property image
    LEASED 04/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,395
    • $0.73
    •  
  • 5451 Meadow Saffron Court North Las Vegas, NV 4
    • 3 beds 3 baths ∙ 1,703 Sqft ∙ Built 1999 3 beds 3 baths ∙ 1,703 Sqft ∙ Built 1999
    property image
    LEASED 02/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,399
    • $0.82
    •  
  • 5443 Cape Jasmine Court Las Vegas, NV 5
    • 4 beds 3 baths ∙ 1,908 Sqft ∙ Built 1999 4 beds 3 baths ∙ 1,908 Sqft ∙ Built 1999
    property image
    LEASED 04/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $0.76
    •  
PROPERTY LISTING DETAILS
Precious Olmo
1.702.339.6993
Realty One Group, Inc
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2243927
Last Updated: 11/02/2020
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