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PROPERTY INFO
FACTS
- Single Family
- Built In 2013
- Price/Sqft : $218.81
- 2 Days on Market
- MLS # : 2255127
- Updated Date : 12/12/2020 at 17:27
CONSTRUCTION
- Beds : 3
- Floor Size : 2,052 sqft
- Baths : 2 full , 1 half
Listing Agent
Luxurious Real Estate
Listing Agent's Description
This Immaculate 2-story home in the Mesas at Summerlin, offers an open floor plan with 2,052+/- SQFT, of living, 3 bedrooms, 3 baths, loft/den, 2 car garage. Gorgeous inside with designer finishes, gourmet kitchen, stainless steel appliances, breakfast bar, granite countertops, beautiful cabinetry, tile flooring, elegant master retreat with stunning bathroom, walk-in closets, picturesque landscaping. The perfect location… The Mesa Village in Summerlin is nestled against the Spring Mountain ridgeline, providing a pristine, unobstructed backdrop and radiant views and is a 497-acre residential village, featuring single- and multi-family neighborhoods, The Mesa Park, a 19-acre village park with three little league fields, tennis, basketball courts and more; Bishop Gorman High School, the valley's premier private college preparatory school. Just minutes away… Explore Downtown Summerlin, that offers world-class shopping, restaurants, indoor and outdoor venues & events.
SEE MORE
- 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)
- 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)
PRICE & RENT TRENDS
Neighborhood: The Mesa
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: The Mesa
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $2,110 |
| EXPENSES | Loan Payment | -$1,657 |
| Property Tax | -$296 | |
| Property Insurance | -$67 | |
| Property Management Fees | -$119 | |
|
CASH FLOW
-$28
|
||
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.
$449,000
PROJECTED PRICE
$2,110
PROJECTED RENT
0.47%
PROJECTED RENT / PRICE RATIO
| Expense Inflation | 2.50% |
| Rental Growth Year (1-5) | 4.05% |
| Appreciation Year (1-5) | 7.7% |
| Maintenance Year (1-5) | 8.00% |
| Vacancy | 7.57% |
| Length of Stay Years | 2 |
PROJECTED ACCUMULATED WEALTH
30 YEAR PROJECTION
- Cash Flow
- Appreciation
- Principal
PROJECTED ANNUAL CASH FLOW
PROJECTED PROPERTY VALUE
30 YEAR PROJECTION
- Appreciation
- Principal
- Loan Balance
TOTAL CASH OUT OF POCKET
INVESTMENT
$124,735
LOAN DETAILS
$1,657
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 4.25% |
| Down Payment | $112,250 |
| Loan Amount | $336,750 |
5.67
YEARS SAVED
$33,442
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$2,110
LIST RENT -
$1.03
LIST RENT PER SQFT
-
$1,949
COMP ESTIMATED VALUE -
$0.95
COMP AVG. RENT PER SQFT
Comps Range
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LEASED 08/28/20- Rent
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- $1,950
- $0.90
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- 3 beds 3 baths ∙ 2,245 Sqft ∙ Built 2013 3 beds 3 baths ∙ 2,245 Sqft ∙ Built 2013
LEASED 02/12/20- Rent
- Rent Per SQFT
- $2,095
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-
5532 Bristol Grove Lane Las Vegas, NV 5
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LEASED 02/08/20- Rent
- Rent Per SQFT
- $2,200
- $1.06
PROPERTY LISTING DETAILS
1.702.250.6062
Luxurious Real Estate
1.866.250.5610
Mynd Property Management
1453579
MLS #: 2255127
Last Updated: 12/12/2020
