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5473 Painted Gorge Drive Las Vegas, NV 89149

4 Beds 3 Baths 2,409 sqft Built 1995

$500,000

List Price

$2,070

$1.9K - $2.3K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 18, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1995
  • Price/Sqft : $207.56
  • 4 Days on Market
  • MLS # : 2279513
  • Updated Date : 03/20/2021 at 03:39
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,409 sqft
  • Baths : 3 full
Listing Agent

Nexthome Community Real Estate

Listing Agent's Description

ATTRACTIVE NW 1 STORY HOME SITUATED ON LARGE LOT HIGHLIGHTED BY RV/BOAT PARKING, POOL & SPA, 2 MASTER SUITES, NO HOA & WONDERFUL CURB APPEAL*HERE YOU WILL DISCOVER A WELL APPOINTED, TURN-KEY HOME FEATURING A THOUGHTFUL LAYOUT WITH THE PERFECT BLEND OF FUNCTION & COMFORT THROUGHOUT 2,409sqft ~ 4 BEDROOMS + DEN w/ DOUBLE DOORS*ENJOY A SPACIOUS OPEN LAYOUT PRESENTING VAULTED CEILINGS & GORGEOUS WOOD FLOORS PLUS THE RARE FIND OF DUAL MASTER BEDROOMS*GREAT INDOOR/OUTDOOR LIVING AS YOU STEP OUTSIDE TO AN EXCEPTIONALLY DESIGNED BACKYARD PERFECT FOR ENTERTAINING & COOLING OFF WITH A LARGE POOL & SPA, COVERED PATIO, BUILT-IN BBQ w/ PALAPA TIKI HUT, NATURAL GRASS, ESTABLISHED LUSH LANDSCAPING, STORAGE SHED & MORE!*PLENTY OF EXTRA PARKING SPACE ON PROPERTY*POPULAR ALL 1 STORY COMMUNITY w/ NO HOA & GREAT LOCATION NEAR SHOPPING, RESTAURANTS, PARKS, SCHOOLS & GOLF COURSES*COME BE IMPRESSED WITH TRUE PRIDE OF OWNERSHIP & LOTS OF EXTRAS INCLUDED ~ A MUST TOUR OPPORTUNITY TO MAKE THIS YOUR NEXTHOME!

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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: Painted Desert

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320k340k360kPrice in $119k362k

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

Neighborhood: Painted Desert

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2110012001300140015001600170018001900Rent in $10761989

* 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
Dean Lamar Allen Elementary School Primary Regular 660 32 6
Justice M E Leavitt Middle School Middle Regular 1,496 64 NA
Centennial High School High Regular 3,055 124 6

Dean Lamar Allen Elementary School

  • Education Level: Primary
  • # of students: 660
  • # of teachers: 32
6
GreatSchools Rating

Justice M E Leavitt Middle School

  • Education Level: Middle
  • # of students: 1,496
  • # of teachers: 64
NA
GreatSchools Rating

Centennial High School

  • Education Level: High
  • # of students: 3,055
  • # of teachers: 124
6
GreatSchools Rating
 

$450,000$550,000$500,000

PURCHASE PRICE

$1,863$2,277$2,070

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,070
EXPENSES Loan Payment -$1,737
Property Tax -$311
Property Insurance -$74
Property Management Fees -$119
CASH FLOW
-$170

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.

$500,000

PROJECTED PRICE

$2,070

PROJECTED RENT

0.41%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.05%
Appreciation Year (1-5) 6.5%
Maintenance Year (1-5) 8.00%
Vacancy 7.57%
Length of Stay Years 2

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-$5.0k$0.0$5.0k$10k$15k$20k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$138,250

INVESTMENT

$138,250

Down Payment
$125,000
Rehab Estimate
$5,750
Closing Costs
$7,500

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$1,737

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $125,000
Loan Amount $375,000
See What Happens When You Reinvest Cash Flow

4.17

YEARS SAVED

$19,306

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,070

    LIST RENT
  • $0.86

    LIST RENT PER SQFT
  • $2,066

    COMP ESTIMATED VALUE
  • $0.86

    COMP AVG. RENT PER SQFT
Comps Range
$1,875
1$1,8752$1,8993$1,9954$2,0005$2,070
$2,070
RENT COMPS ANALYSIS
  • 5473 Painted Gorge Drive Las Vegas, NV 5
    • 4 beds 3 baths ∙ 2,409 Sqft ∙ Built 1995 4 beds 3 baths ∙ 2,409 Sqft ∙ Built 1995
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,070
    • $0.86
    •  
  • 5520 Big Sky Lane Las Vegas, NV 1
    • 4 beds 3 baths ∙ 2,325 Sqft ∙ Built 1999 4 beds 3 baths ∙ 2,325 Sqft ∙ Built 1999
    property image
    LEASED 03/12/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,875
    • $0.81
    •  
  • 5112 Forest Oaks Drive Las Vegas, NV 2
    • 4 beds 4 baths ∙ 2,260 Sqft ∙ Built 1994 4 beds 4 baths ∙ 2,260 Sqft ∙ Built 1994
    property image
    LEASED 11/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,899
    • $0.84
    •  
  • 5208 Coral Glow Court Las Vegas, NV 3
    • 3 beds 2 baths ∙ 2,294 Sqft ∙ Built 1987 3 beds 2 baths ∙ 2,294 Sqft ∙ Built 1987
    property image
    LEASED 04/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,995
    • $0.87
    •  
  • 5105 Portraits Place Las Vegas, NV 4
    • 3 beds 3 baths ∙ 2,197 Sqft ∙ Built 1994 3 beds 3 baths ∙ 2,197 Sqft ∙ Built 1994
    property image
    LEASED 10/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $0.91
    •  
PROPERTY LISTING DETAILS
Peter Torsiello
1.702.743.2333
Nexthome Community Real Estate
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2279513
Last Updated: 03/20/2021
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