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5503 Sancho Throne Road Las Vegas, NV 89113

4 Beds 3 Baths 2,657 sqft Built 2017

$429,000

List Price

$2,050

$1.8K - $2.3K

Rent Est.

PROPERTY INFO

November 06, 2020 RECENTLY ADDED
FACTS
  • Built In 2017
  • Price/Sqft : $161.46
  • 4 Days on Market
  • MLS # : 2244023
  • Updated Date : 11/06/2020 at 07:12
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,657 sqft
  • Baths : 3 full
Listing Agent

Icon Realty

Listing Agent's Description

Welcome home! This amazing property is truly an Oasis in the Desert! Situated on a premium lot that provides incredible views of the Las Vegas Strip and Mountains, this home is the one your going to want! Greeted by stunning curb appeal with upgraded stacked stone exterior elevation you'll know you have arrived. Gated courtyard entry, spacious, open floor plan, gourmet kitchen with custom maple cabinets, slab granite counters, high end stainless appliances, built in buffet area, walk in pantry and more. This home lends itself to seamless indoor/outdoor living, featuring a truly relaxing backyard oasis. Beautiful feature Koi pond provides the soothing sound of water, raised garden, dog run, elevated seating area and covered patio. Roof top deck area provides breathtaking views of the Strip and mountains! 4 large bedrooms including a bedroom and full bath downstairs. Loft area, big primary bedroom with spa like bath. This home is loaded with custom features and won't last long!

SEE MORE

MARKET HIGHLIGHTS

  • 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: Spring Valley

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280kPrice in $119k296k

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

Neighborhood: Spring Valley

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2105011001150120012501300135014001450150015501600Rent in $10381606

* 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
Marion B. Earl Elementary School Primary Regular 727 38 6
Grant Sawyer Middle School Middle Regular 1,308 52 NA
Durango High School High Regular 2,302 95 5

Marion B. Earl Elementary School

  • Education Level: Primary
  • # of students: 727
  • # of teachers: 38
6
GreatSchools Rating

Grant Sawyer Middle School

  • Education Level: Middle
  • # of students: 1,308
  • # of teachers: 52
NA
GreatSchools Rating

Durango High School

  • Education Level: High
  • # of students: 2,302
  • # of teachers: 95
5
GreatSchools Rating
 

$386,100$471,900$429,000

PURCHASE PRICE

$1,845$2,255$2,050

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,050
EXPENSES Loan Payment -$1,583
Property Tax -$328
Property Insurance -$79
Property Management Fees -$119
CASH FLOW
-$58

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.

$429,000

PROJECTED PRICE

$2,050

PROJECTED RENT

0.48%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.96%
Appreciation Year (1-5) 9.9%
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$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$119,435

INVESTMENT

$119,435

Down Payment
$107,250
Rehab Estimate
$5,750
Closing Costs
$6,435

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,583

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $107,250
Loan Amount $321,750
See What Happens When You Reinvest Cash Flow

5.25

YEARS SAVED

$27,378

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,050

    LIST RENT
  • $0.77

    LIST RENT PER SQFT
  • $2,066

    COMP ESTIMATED VALUE
  • $0.78

    COMP AVG. RENT PER SQFT
Comps Range
$1,800
1$1,8002$1,9953$2,0504$2,2005$2,250
$2,250
RENT COMPS ANALYSIS
  • 5503 Sancho Throne Road Las Vegas, NV 3
    • 4 beds 3 baths ∙ 2,657 Sqft ∙ Built 2017 4 beds 3 baths ∙ 2,657 Sqft ∙ Built 2017
    • Rent
    • Rent Per SQFT
    •  
    • $2,050
    • $0.77
    •  
  • 7727 Pyrenees Park Drive Las Vegas, NV 1
    • 4 beds 3 baths ∙ 2,657 Sqft ∙ Built 2018 4 beds 3 baths ∙ 2,657 Sqft ∙ Built 2018
    LEASED 05/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $0.68
    •  
  • 5571 Chiflo Song Drive Las Vegas, NV 2
    • 4 beds 3 baths ∙ 2,657 Sqft ∙ Built 2018 4 beds 3 baths ∙ 2,657 Sqft ∙ Built 2018
    LEASED 02/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,995
    • $0.75
    •  
  • 7713 Diablo Drive Las Vegas, NV 4
    • 4 beds 3 baths ∙ 2,657 Sqft ∙ Built 2017 4 beds 3 baths ∙ 2,657 Sqft ∙ Built 2017
    LEASED 08/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $0.83
    •  
  • 7732 Pyrenees Park Drive Las Vegas, NV 5
    • 5 beds 4 baths ∙ 2,657 Sqft ∙ Built 2017 5 beds 4 baths ∙ 2,657 Sqft ∙ Built 2017
    LEASED 06/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,250
    • $0.85
    •  
PROPERTY LISTING DETAILS
Scott H Pharris
1.702.326.0119
Icon Realty
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2244023
Last Updated: 11/06/2020
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