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

5517 Cypress Creek Street North Las Vegas, NV 89031

4 Beds 2 Baths 1,882 sqft Built 1997

$310,000

List Price

$1,570

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

FACTS
  • Single Family
  • Built In 1997
  • Price/Sqft : $164.72
  • 17 Days on Market
  • MLS # : 2254974
  • Updated Date : 01/02/2021 at 22:03
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,882 sqft
  • Baths : 2 full
Listing Agent

Zahler Properties Llc

Listing Agent's Description

Come see this remodeled open floor plan with upgraded granite countertop kitchen and vaulted ceilings. Amazing oasis backyard has a covered patio with furniture included, koi pond with turtles, grass, mature lush landscaping and a hammock. This house has something for everyone! One bedroom with a 3/4 bathroom is downstairs, the other three are upstairs with two full bathrooms. Sale includes drinking water filtration system, water softener, deep freezer, garage shelving and storage, window coverings, new water heater (2019), regularly serviced HVAC unit, and lots of little perks. Sellers have taken excellent care of this home and are moving overseas so they are willing to leave almost anything you need, just ask!

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: Northfork

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260k280kPrice in $84k296k

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

Neighborhood: Northfork

NeighborhoodNIR Market*CityMarket2010Year20002019 Q29501000105011001150120012501300135014001450150015501600Rent in $9061603

* 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
Steve Cozine Elementary School Primary Regular 773 41 5
Brian And Teri Cram Middle School Middle Regular 1,568 65 NA
Cheyenne High School High Regular 2,212 91 2

Steve Cozine Elementary School

  • Education Level: Primary
  • # of students: 773
  • # of teachers: 41
5
GreatSchools Rating

Brian And Teri Cram Middle School

  • Education Level: Middle
  • # of students: 1,568
  • # of teachers: 65
NA
GreatSchools Rating

Cheyenne High School

  • Education Level: High
  • # of students: 2,212
  • # of teachers: 91
2
GreatSchools Rating
 

$279,000$341,000$310,000

PURCHASE PRICE

$1,413$1,727$1,570

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,570
EXPENSES Loan Payment -$1,144
Property Tax -$216
Property Insurance -$64
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 17% of earned rent to cover both maintenance and periods of vacancy.

$310,000

PROJECTED PRICE

$1,570

PROJECTED RENT

0.51%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.75%
Appreciation Year (1-5) 10.6%
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$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$87,900

INVESTMENT

$87,900

Down Payment
$77,500
Rehab Estimate
$5,750
Closing Costs
$4,650

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,144

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $77,500
Loan Amount $232,500
See What Happens When You Reinvest Cash Flow

6.08

YEARS SAVED

$24,186

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,570

    LIST RENT
  • $0.83

    LIST RENT PER SQFT
  • $1,567

    COMP ESTIMATED VALUE
  • $0.83

    COMP AVG. RENT PER SQFT
Comps Range
$1,400
1$1,4002$1,4953$1,5704$1,6505$1,700
$1,700
RENT COMPS ANALYSIS
  • 5517 Cypress Creek Street North Las Vegas, NV 3
    • 4 beds 2 baths ∙ 1,882 Sqft ∙ Built 1997 4 beds 2 baths ∙ 1,882 Sqft ∙ Built 1997
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,570
    • $0.83
    •  
  • 2418 Spanish Fork Avenue North Las Vegas, NV 1
    • 3 beds 2 baths ∙ 1,729 Sqft ∙ Built 1999 3 beds 2 baths ∙ 1,729 Sqft ∙ Built 1999
    property image
    LEASED 09/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,400
    • $0.81
    •  
  • 5419 Cypress Creek Street North Las Vegas, NV 2
    • 4 beds 2 baths ∙ 1,882 Sqft ∙ Built 1998 4 beds 2 baths ∙ 1,882 Sqft ∙ Built 1998
    property image
    LEASED 09/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,495
    • $0.79
    •  
  • 5448 Pipers Stone Street North Las Vegas, NV 4
    • 4 beds 3 baths ∙ 1,984 Sqft ∙ Built 2006 4 beds 3 baths ∙ 1,984 Sqft ∙ Built 2006
    property image
    LEASED 09/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.83
    •  
  • 5438 Cypress Creek Street Las Vegas, NV 5
    • 4 beds 2 baths ∙ 1,882 Sqft ∙ Built 1998 4 beds 2 baths ∙ 1,882 Sqft ∙ Built 1998
    property image
    LEASED 05/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $0.90
    •  
PROPERTY LISTING DETAILS
Jennifer Boushy
1.702.682.7024
Zahler Properties Llc
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2254974
Last Updated: 01/02/2021
BESbswy