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5500 Desert Spring Road Las Vegas, NV 89149

3 Beds 3 Baths 2,453 sqft Built 1989

$424,000

List Price

$2,010

$1.8K - $2.2K

Rent Est.

PROPERTY INFO

February 06, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1989
  • Price/Sqft : $172.85
  • 3 Days on Market
  • MLS # : 2268039
  • Updated Date : 02/06/2021 at 01:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,453 sqft
  • Baths : 2 full , 1 half
Listing Agent

Nexthome Community Real Estate

Listing Agent's Description

Extensively remodeled! New Kitchen with new cabinets, extended counter space, custom pantry with roll-outs, custom backsplash, High end appliances and more. Step outside to a Pool like you've never seen!! TRULY- you have an unheard of 9' Deep end at your disposal with rock waterfall, rock diving point and custom shade structure that extends to the pools edge. Now lets talk master bathroom remodel.... WOW! 2 Large skylights invigorate the space with natural light, custom cabinets, built-in medicine/mirrored cabinets, new cultured marble surround of the bathtub, shower and window. The large Seamless Shower is built large enough for 2 people... See-through fireplace sets the tone for romantic nights. Brand NEW carpet upstairs, New windows and sliding doors... but wait... there's more: Let the awesome HOA take care of ALL front yard maintenance. Everything from the street to your front door. This is it! the "one" you've been waiting for!

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: 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
 

$381,600$466,400$424,000

PURCHASE PRICE

$1,809$2,211$2,010

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,010
EXPENSES Loan Payment -$1,473
Property Tax -$268
Property Insurance -$75
Property Management Fees -$119
CASH FLOW
$76

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.

$424,000

PROJECTED PRICE

$2,010

PROJECTED RENT

0.47%

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

PROJECTED ANNUAL CASH FLOW

11530$0.0$5.0k$10k$15k$20k$25k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$118,110

INVESTMENT

$118,110

Down Payment
$106,000
Rehab Estimate
$5,750
Closing Costs
$6,360

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 45% down payment or higher enables the proceeds from the asset to cover all costs.

$1,473

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $106,000
Loan Amount $318,000
See What Happens When You Reinvest Cash Flow

6.92

YEARS SAVED

$35,180

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,010

    LIST RENT
  • $0.82

    LIST RENT PER SQFT
  • $2,042

    COMP ESTIMATED VALUE
  • $0.83

    COMP AVG. RENT PER SQFT
Comps Range
$1,875
1$1,8752$1,9503$1,9754$1,9955$2,010
$2,010
RENT COMPS ANALYSIS
  • 5500 Desert Spring Road Las Vegas, NV 5
    • 3 beds 3 baths ∙ 2,453 Sqft ∙ Built 1989 3 beds 3 baths ∙ 2,453 Sqft ∙ Built 1989
    • Rent
    • Rent Per SQFT
    •  
    • $2,010
    • $0.82
    •  
  • 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
    LEASED 02/05/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,875
    • $0.81
    •  
  • 5509 Big Sky Lane Las Vegas, NV 2
    • 4 beds 3 baths ∙ 2,325 Sqft ∙ Built 1999 4 beds 3 baths ∙ 2,325 Sqft ∙ Built 1999
    LEASED 09/06/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $0.84
    •  
  • 5509 Desert Spring Road #0 Las Vegas, NV 3
    • 4 beds 2 baths ∙ 2,453 Sqft ∙ Built 1989 4 beds 2 baths ∙ 2,453 Sqft ∙ Built 1989
    LEASED 03/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,975
    • $0.81
    •  
  • 5208 Coral Glow Court Las Vegas, NV 4
    • 3 beds 2 baths ∙ 2,294 Sqft ∙ Built 1987 3 beds 2 baths ∙ 2,294 Sqft ∙ Built 1987
    LEASED 04/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,995
    • $0.87
    •  
PROPERTY LISTING DETAILS
Falisha Rexford
1.702.236.4249
Nexthome Community Real Estate
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2268039
Last Updated: 02/06/2021
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