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5520 Singing Hills Drive Las Vegas, NV 89130

3 Beds 3 Baths 2,443 sqft Built 1993

$426,000

List Price

$2,010

$1.8K - $2.2K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
February 26, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1993
  • Price/Sqft : $174.38
  • 3 Days on Market
  • MLS # : 2273163
  • Updated Date : 02/26/2021 at 23:02
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,443 sqft
  • Baths : 2 full , 1 half
Listing Agent

Blue Diamond Realty Llc

Listing Agent's Description

HOLY HANNAH! NESTLED WITHIN THE BEAUTIFUL GUARD GATED COMMUNITY OF LOS PRADOS, THIS CHARMER WON'T LAST LONG. LOCATED ON THE GOLF COURSE, BEAUTIFUL POOL AND OUTDOOR OASIS. DOWNSTAIRS PRIMARY BEDROOM IS HUGE WITH TONS OF NATURAL LIGHT, DOUBLE SINK AND MASSIVE SHOWER AND WALK IN CLOSET. CUSTOM CABINETS AND GRANITE COUNTER TOPS. COMMUNITY HAS TWO MILE WALKING TRAIL LOOP, POOLS, SPAS, TENNIS, GOLF, PICKLEBALL, ROVING SECURITY, COMMUNITY EVENTS, CLUBHOUSE WITH GREAT FOOD AND FULL BAR (W.DELIVERY), GATED RV PARKING FOR A SMALL FEE, GOLF CARTS WELCOME. WELCOME TO LAS VEGAS' BEST KEPT SECRET, WELCOME HOME!

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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: Los Prados

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320kPrice in $119k336k

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

Neighborhood: Los Prados

NeighborhoodNIR Market*CityMarket2010Year20002019 Q211001150120012501300135014001450150015501600Rent in $10621606

* 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
 

$383,400$468,600$426,000

PURCHASE PRICE

$1,809$2,211$2,010

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,010
EXPENSES Loan Payment -$1,480
Property Tax -$282
Property Insurance -$75
Property Management Fees -$119
CASH FLOW
$55

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.

$426,000

PROJECTED PRICE

$2,010

PROJECTED RENT

0.47%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.96%
Appreciation Year (1-5) 9.3%
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$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$118,640

INVESTMENT

$118,640

Down Payment
$106,500
Rehab Estimate
$5,750
Closing Costs
$6,390

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,480

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $106,500
Loan Amount $319,500
See What Happens When You Reinvest Cash Flow

6.42

YEARS SAVED

$32,308

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,010

    LIST RENT
  • $0.82

    LIST RENT PER SQFT
  • $1,838

    COMP ESTIMATED VALUE
  • $0.75

    COMP AVG. RENT PER SQFT
Comps Range
$1,650
1$1,6502$1,6953$1,8954$1,9405$2,010
$2,010
RENT COMPS ANALYSIS
  • 5520 Singing Hills Drive Las Vegas, NV 5
    • 3 beds 3 baths ∙ 2,443 Sqft ∙ Built 1993 3 beds 3 baths ∙ 2,443 Sqft ∙ Built 1993
    • Rent
    • Rent Per SQFT
    •  
    • $2,010
    • $0.82
    •  
  • 5305 Rizari Court Las Vegas, NV 1
    • 4 beds 3 baths ∙ 2,357 Sqft ∙ Built 2003 4 beds 3 baths ∙ 2,357 Sqft ∙ Built 2003
    LEASED 01/22/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.70
    •  
  • 5448 Desert Paradise Drive Las Vegas, NV 2
    • 3 beds 3 baths ∙ 2,348 Sqft ∙ Built 1997 3 beds 3 baths ∙ 2,348 Sqft ∙ Built 1997
    LEASED 12/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $0.72
    •  
  • 6336 Malachite Bay Las Vegas, NV 3
    • 3 beds 3 baths ∙ 2,420 Sqft ∙ Built 1997 3 beds 3 baths ∙ 2,420 Sqft ∙ Built 1997
    LEASED 05/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,895
    • $0.78
    •  
  • 5725 Bullhead Street North Las Vegas, NV 4
    • 4 beds 2 baths ∙ 2,397 Sqft ∙ Built 2009 4 beds 2 baths ∙ 2,397 Sqft ∙ Built 2009
    LEASED 02/19/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,940
    • $0.81
    •  
PROPERTY LISTING DETAILS
Eric M Halberg
1.702.789.4822
Blue Diamond Realty Llc
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2273163
Last Updated: 02/26/2021
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