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5525 Madigan Court Las Vegas, NV 89118

3 Beds 3 Baths 1,824 sqft Built 2001

INVESTimate

$308,000

List Price

$1,630

$1,467 - $1,793

Rent Est.

$338,523  ( +9.91%)   1 YR EST. FORECAST

PROPERTY INFO

FACTS
  • Built In 2001
  • Price/Sqft : $168.86
  • 27 Days on Market
  • MLS # : 2217818
  • Updated Date : 08/24/2020 at 12:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,824 sqft
  • Baths : 2 full , 1 half
Listing Agent

Vanguard Realty Group Llc

Listing Agent's Description

SW master bedroom downstairs with walk in closet and bathroom, Huge living room with tiles floors, two bedrooms upstairs with walk in closet, BIG LOFT, all bedrooms with ceiling fans, nice yard.

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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: Spring Valley

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280kPrice in $119k296k

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

Neighborhood: Spring Valley

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2105011001150120012501300135014001450150015501600Rent in $10381606

* 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
Helen Jydstrup Elementary School Primary Regular 765 32 5
Grant Sawyer Middle School Middle Regular 1,308 52 NA
Durango High School High Regular 2,302 95 5

Helen Jydstrup Elementary School

  • Education Level: Primary
  • # of students: 765
  • # of teachers: 32
5
GreatSchools Rating

Grant Sawyer Middle School

  • Education Level: Middle
  • # of students: 1,308
  • # of teachers: 52
NA
GreatSchools Rating

Durango High School

  • Education Level: High
  • # of students: 2,302
  • # of teachers: 95
5
GreatSchools Rating
 

$277,200$338,800$308,000

PURCHASE PRICE

$1,467$1,793$1,630

RENT

DOWN PAYMENT
FINANCING

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

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,630
EXPENSES Loan Payment -$1,136
Property Tax -$193
Property Insurance -$63
HOA -$156
Property Management Fees -$119
CASH FLOW
-$37

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.

$308,000

PROJECTED PRICE

$1,630

PROJECTED RENT

0.53%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.96%
Appreciation Year (1-5) 9.91%
Maintenance Year (1-5) 8.00%
Vacancy 7.63%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$87,370

INVESTMENT

$87,370

Down Payment
$77,000
Rehab Estimate
$5,750
Closing Costs
$4,620

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,136

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $77,000
Loan Amount $231,000
See What Happens When You Reinvest Cash Flow

5.08

YEARS SAVED

$18,850

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,630

    LIST RENT
  • $0.89

    LIST RENT PER SQFT
  • $1,806

    COMP ESTIMATED VALUE
  • $0.99

    COMP AVG. RENT PER SQFT
Comps Range
$1,625
1$1,6252$1,6303$1,6804$1,6955$1,800
$1,800
RENT COMPS ANALYSIS
  • 5525 Madigan Court Las Vegas, NV 2
    • 3 beds 3 baths ∙ 1,824 Sqft ∙ Built 2001 3 beds 3 baths ∙ 1,824 Sqft ∙ Built 2001
    • Rent
    • Rent Per SQFT
    •  
    • $1,630
    • $0.89
    •  
  • 6009 Jobear Avenue Las Vegas, NV 1
    • 3 beds 2 baths ∙ 1,684 Sqft ∙ Built 2001 3 beds 2 baths ∙ 1,684 Sqft ∙ Built 2001
    LEASED 08/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,625
    • $0.96
    •  
  • 5351 Walcott Drive #n/a Las Vegas, NV 3
    • 3 beds 3 baths ∙ 1,727 Sqft ∙ Built 2001 3 beds 3 baths ∙ 1,727 Sqft ∙ Built 2001
    LEASED 03/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,680
    • $0.97
    •  
  • 5669 Warm Light Street Las Vegas, NV 4
    • 3 beds 3 baths ∙ 1,713 Sqft ∙ Built 2020 3 beds 3 baths ∙ 1,713 Sqft ∙ Built 2020
    LEASED 07/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $0.99
    •  
  • 5386 Walcott Drive Las Vegas, NV 5
    • 3 beds 3 baths ∙ 1,727 Sqft ∙ Built 2001 3 beds 3 baths ∙ 1,727 Sqft ∙ Built 2001
    LEASED 08/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $1.04
    •  
PROPERTY LISTING DETAILS
Ruey Chyi Tang
1.702.769.7282
Vanguard Realty Group Llc
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2217818
Last Updated: 08/24/2020
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