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5520 Bonita Park Court Las Vegas, NV 89148

3 Beds 3 Baths 2,122 sqft Built 2021

$398,145

List Price

$1,560

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

Built 2021 NEW CONSTRUCTION
February 10, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2021
  • Price/Sqft : $187.63
  • 7 Days on Market
  • MLS # : 2268504
  • Updated Date : 02/10/2021 at 22:14
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,122 sqft
  • Baths : 2 full , 1 half
Listing Agent

Olympic Realty

Listing Agent's Description

BEAUTIFUL BRAND NEW HOME COMMUNITY CLOSE TO IKEA AND THE NEW SHOPPING/DINING EXPERIENCE "THE BEND"!! HOME HAS BEEN BEAUTIFULLY UPGRADED THROUGHOUT ALL FOR UNDER $400,000!!! BUYER STILL HAS OPPORTUNITY TO CUSTOMIZE CABINETS AND FLOORING AT ADDITIONAL COST TO BUYER.

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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: North Cheyenne

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300kPrice in $119k302k

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

Neighborhood: North Cheyenne

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2105011001150120012501300135014001450150015501600Rent in $10011606

* 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
Ernest May Elementary School Primary Regular 665 33 8
Theron L. Swainston Middle School Middle Regular 1,146 52 NA
Shadow Ridge High School High Regular 2,697 105 6

Ernest May Elementary School

  • Education Level: Primary
  • # of students: 665
  • # of teachers: 33
8
GreatSchools Rating

Theron L. Swainston Middle School

  • Education Level: Middle
  • # of students: 1,146
  • # of teachers: 52
NA
GreatSchools Rating

Shadow Ridge High School

  • Education Level: High
  • # of students: 2,697
  • # of teachers: 105
6
GreatSchools Rating
 

$358,331$437,960$398,145

PURCHASE PRICE

$1,404$1,716$1,560

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,560
EXPENSES Loan Payment -$1,383
Property Tax -$169
Property Insurance -$68
Property Management Fees -$119
CASH FLOW
-$179

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 11% of earned rent to cover both maintenance and periods of vacancy.

$398,145

PROJECTED PRICE

$1,560

PROJECTED RENT

0.39%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.96%
Appreciation Year (1-5) 10.7%
Maintenance Year (1-5) 3.00%
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

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$1.4M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$107,508

INVESTMENT

$107,508

Down Payment
$99,536
Rehab Estimate
$2,000
Closing Costs
$5,972

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,383

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $99,536
Loan Amount $298,609
See What Happens When You Reinvest Cash Flow

3.58

YEARS SAVED

$12,802

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,560

    LIST RENT
  • $0.74

    LIST RENT PER SQFT
  • $1,820

    COMP ESTIMATED VALUE
  • $0.86

    COMP AVG. RENT PER SQFT
Comps Range
$1,550
1$1,5502$1,5503$1,5604$1,9255$1,975
$1,975
RENT COMPS ANALYSIS
  • 5520 Bonita Park Court Las Vegas, NV 3
    • 3 beds 3 baths ∙ 2,122 Sqft ∙ Built 2021 3 beds 3 baths ∙ 2,122 Sqft ∙ Built 2021
    • Rent
    • Rent Per SQFT
    •  
    • $1,560
    • $0.74
    •  
  • 5229 Sundance Canyon Court North Las Vegas, NV 1
    • 3 beds 3 baths ∙ 1,805 Sqft ∙ Built 2002 3 beds 3 baths ∙ 1,805 Sqft ∙ Built 2002
    LEASED 12/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $0.86
    •  
  • 5284 Dakotah Pointe Court #0 North Las Vegas, NV 2
    • 3 beds 3 baths ∙ 1,805 Sqft ∙ Built 2001 3 beds 3 baths ∙ 1,805 Sqft ∙ Built 2001
    LEASED 02/01/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $0.86
    •  
  • 6217 Escapa Court Las Vegas, NV 4
    • 4 beds 3 baths ∙ 2,209 Sqft ∙ Built 2011 4 beds 3 baths ∙ 2,209 Sqft ∙ Built 2011
    LEASED 11/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,925
    • $0.87
    •  
  • 5333 Rizari Court Las Vegas, NV 5
    • 4 beds 3 baths ∙ 2,357 Sqft ∙ Built 2003 4 beds 3 baths ∙ 2,357 Sqft ∙ Built 2003
    LEASED 09/22/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,975
    • $0.84
    •  
PROPERTY LISTING DETAILS
Richard E Buckley
1.702.683.7122
Olympic Realty
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2268504
Last Updated: 02/10/2021
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