Work with a dedicated Real Estate Advisor who will take your financial preferences and help you select and acquire properties that fit your criteria. Learn more

5508 Stone Lagoon Street North Las Vegas, NV 89031

4 Beds 3 Baths 2,871 sqft Built 2007

$339,900

List Price

$1,800

$1.6K - $2K

Rent Est.

PROPERTY INFO

FACTS
  • Built In 2007
  • Price/Sqft : $118.39
  • 9 Days on Market
  • MLS # : 2241828
  • Updated Date : 11/03/2020 at 18:42
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,871 sqft
  • Baths : 3 full
Listing Agent

Windermere Prestige Properties

Listing Agent's Description

Located in the Cambria Gated Community. Upgraded custom cabinets, light fixtures, and modern drapes. Interior features inviting Large kitchen area opens to the family room with backsplash, Corian counters, and island. Custom Interior two-toned paint, ceiling fans, and cozy fireplace! Brand new Carpet. Huge Master Suite with balcony. Upgraded Baths with Granite Counters. Bonus entertainment room w/ Built-In Cabinets to enjoy TV Nights Big Screen Style. Exterior with covered patio and mature low maintenance landscape.

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: North Las Vegas

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260k280kPrice in $84k296k

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

Neighborhood: North Las Vegas

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21000105011001150120012501300135014001450150015501600Rent in $9651603

* 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
Fredric W Watson Elementary School Primary Regular 648 36 2
Clifford O. Findlay Middle School Middle Regular 1,372 59 NA
Mojave High School High Regular 2,311 103 2

Fredric W Watson Elementary School

  • Education Level: Primary
  • # of students: 648
  • # of teachers: 36
2
GreatSchools Rating

Clifford O. Findlay Middle School

  • Education Level: Middle
  • # of students: 1,372
  • # of teachers: 59
NA
GreatSchools Rating

Mojave High School

  • Education Level: High
  • # of students: 2,311
  • # of teachers: 103
2
GreatSchools Rating
 

$305,910$373,890$339,900

PURCHASE PRICE

$1,620$1,980$1,800

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,800
EXPENSES Loan Payment -$1,254
Property Tax -$290
Property Insurance -$83
Property Management Fees -$119
CASH FLOW
$54

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 17% of earned rent to cover both maintenance and periods of vacancy.

$339,900

PROJECTED PRICE

$1,800

PROJECTED RENT

0.53%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.75%
Appreciation Year (1-5) 11.1%
Maintenance Year (1-5) 8.00%
Vacancy 8.50%
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

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$95,824

INVESTMENT

$95,824

Down Payment
$84,975
Rehab Estimate
$5,750
Closing Costs
$5,099

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,254

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $84,975
Loan Amount $254,925
See What Happens When You Reinvest Cash Flow

6.25

YEARS SAVED

$27,685

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,800

    LIST RENT
  • $0.63

    LIST RENT PER SQFT
  • $1,852

    COMP ESTIMATED VALUE
  • $0.64

    COMP AVG. RENT PER SQFT
Comps Range
$1,650
1$1,6502$1,6953$1,7504$1,8005$1,995
$1,995
RENT COMPS ANALYSIS
  • 5508 Stone Lagoon Street North Las Vegas, NV 4
    • 4 beds 3 baths ∙ 2,871 Sqft ∙ Built 2007 4 beds 3 baths ∙ 2,871 Sqft ∙ Built 2007
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $0.63
    •  
  • 1004 Windy Ferrell Avenue North Las Vegas, NV 1
    • 4 beds 3 baths ∙ 2,707 Sqft ∙ Built 2006 4 beds 3 baths ∙ 2,707 Sqft ∙ Built 2006
    LEASED 01/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.61
    •  
  • 228 Stagecoach Flats Avenue #n/a North Las Vegas, NV 2
    • 4 beds 3 baths ∙ 2,793 Sqft ∙ Built 2007 4 beds 3 baths ∙ 2,793 Sqft ∙ Built 2007
    LEASED 09/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $0.61
    •  
  • 5225 Coral Hills Street North Las Vegas, NV 3
    • 4 beds 2 baths ∙ 2,683 Sqft ∙ Built 2004 4 beds 2 baths ∙ 2,683 Sqft ∙ Built 2004
    LEASED 10/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.65
    •  
  • 5513 Roans Prairie Street Las Vegas, NV 5
    • 4 beds 3 baths ∙ 2,793 Sqft ∙ Built 2007 4 beds 3 baths ∙ 2,793 Sqft ∙ Built 2007
    LEASED 09/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,995
    • $0.71
    •  
PROPERTY LISTING DETAILS
Dulcie Crawford
1.702.505.2775
Windermere Prestige Properties
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2241828
Last Updated: 11/03/2020
BESbswy