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

5516 Stone Lagoon Street North Las Vegas, NV 89031

3 Beds 2 Baths 1,805 sqft Built 2007

$309,900

List Price

$1,520

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

FACTS
  • Built In 2007
  • Price/Sqft : $171.69
  • 11 Days on Market
  • MLS # : 2241694
  • Updated Date : 11/02/2020 at 12:39
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,805 sqft
  • Baths : 2 full
Listing Agent

Windermere Prestige Properties

Listing Agent's Description

Located in a Gated Community, this Single Story Former Model Home has an open floor plan. 3 bds/2 baths. Formal living and Dining areas, breakfast nook, & family room. Chefs Kitchen w/ granite counters, upgraded white appliance pkg w/ refrigerator, nice open concept with Island open to the family room. The master bedroom boasts a sitting room & walk-in closet. Home has tile floors in the kitchen, dining, & bathrooms. Plush carpet throughout & custom designer paint and window treatments. Fully landscaped w/ covered patio and desert landscaping.

SEE MORE

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: 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
 

$278,910$340,890$309,900

PURCHASE PRICE

$1,368$1,672$1,520

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,520
EXPENSES Loan Payment -$1,143
Property Tax -$243
Property Insurance -$62
Property Management Fees -$119
CASH FLOW
-$48

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.

$309,900

PROJECTED PRICE

$1,520

PROJECTED RENT

0.49%

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

PROJECTED ANNUAL CASH FLOW

11530-$4.0k-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$87,874

INVESTMENT

$87,874

Down Payment
$77,475
Rehab Estimate
$5,750
Closing Costs
$4,649

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,143

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $77,475
Loan Amount $232,425
See What Happens When You Reinvest Cash Flow

4.58

YEARS SAVED

$16,849

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,520

    LIST RENT
  • $0.84

    LIST RENT PER SQFT
  • $1,530

    COMP ESTIMATED VALUE
  • $0.85

    COMP AVG. RENT PER SQFT
Comps Range
$1,375
1$1,3752$1,4003$1,5204$1,5505$1,650
$1,650
RENT COMPS ANALYSIS
  • 5516 Stone Lagoon Street North Las Vegas, NV 3
    • 3 beds 2 baths ∙ 1,805 Sqft ∙ Built 2007 3 beds 2 baths ∙ 1,805 Sqft ∙ Built 2007
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,520
    • $0.84
    •  
  • 5746 Cactus Blossom Las Vegas, NV 1
    • 3 beds 2 baths ∙ 1,622 Sqft ∙ Built 2003 3 beds 2 baths ∙ 1,622 Sqft ∙ Built 2003
    property image
    LEASED 05/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,375
    • $0.85
    •  
  • 5416 Indian Rose Street North Las Vegas, NV 2
    • 3 beds 2 baths ∙ 1,656 Sqft ∙ Built 2005 3 beds 2 baths ∙ 1,656 Sqft ∙ Built 2005
    property image
    LEASED 01/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,400
    • $0.85
    •  
  • 321 Point Loma Avenue Las Vegas, NV 4
    • 4 beds 2 baths ∙ 1,805 Sqft ∙ Built 2007 4 beds 2 baths ∙ 1,805 Sqft ∙ Built 2007
    property image
    LEASED 06/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $0.86
    •  
  • 313 Casmailia Avenue North Las Vegas, NV 5
    • 3 beds 3 baths ∙ 1,981 Sqft ∙ Built 2017 3 beds 3 baths ∙ 1,981 Sqft ∙ Built 2017
    property image
    LEASED 08/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.83
    •  
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 #: 2241694
Last Updated: 11/02/2020
BESbswy