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

5525 Michelli Crest Way Las Vegas, NV 89149

3 Beds 3 Baths 2,588 sqft Built 1998

INVESTimate

$659,000

List Price

$2,570

$2,320 - $2,820

Rent Est.

$723,253  ( +9.75%)   1 YR EST. FORECAST

PROPERTY INFO

FACTS
  • Built In 1998
  • Price/Sqft : $254.64
  • 9 Days on Market
  • MLS # : 2222626
  • Updated Date : 08/24/2020 at 17:22
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,588 sqft
  • Baths : 2 full , 1 half
Listing Agent

Realty One Group, Inc

Listing Agent's Description

CUSTOM HOME WITH LOTS OF WINDOWS AND GREAT LIGHTING, OVER 1/2 ACRE LOT, RV PARKING WITH ELECTRICAL HOOKUPS, AMPHITHEATER, VIEWS OF THE STRIP & LONE MOUNTAIN, NEWLY REMODELED KITCHEN WITH FARM SINK, SECURITY CAMERAS AND SWIMMING POOL ARE JUST A FEW OF THE AMAZING BENEFITS THIS HOME HAS TO OFFER! DON'T WAIT TO VIEW THIS LOVELY 3 BD/3BA, SINGLE STORY HOME WITH TILE THRU OUT, ONLY 4 HOMES IN THE CUL-DE-SAC, VERY PRIVATE. OVERSIZED PRIMARY BEDROOM AND BATHROOM WITH BIDET, WALK IN SHOWER & JETTED TUB, ENJOY THE COVERED PATIO WITH CEILING FAN FOR OUTDOOR ENTERTAINING, LOTS OF STORAGE IN THE GARAGE, ENTERTAINMENT CENTER IN THE LIVING ROOM IS INCLUDED. WELL HAS BEEN PERMITTED FOR A 1200 SF ADDITION AND THERE IS APPROX 5,000 SF OF ADDITIONAL LOT SF AVAILABLE. CALL FOR DETAILS.

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

Zip Code: 89149

ZipNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320k340k360kPrice in $119k362k

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

Zip Code: 89149

ZipNIR Market*CityMarket2010Year20002019 Q211001200130014001500160017001800Rent in $10761875

* 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
Dean Lamar Allen Elementary School Primary Regular 660 32 6
Justice M E Leavitt Middle School Middle Regular 1,496 64 NA
Centennial High School High Regular 3,055 124 6

Dean Lamar Allen Elementary School

  • Education Level: Primary
  • # of students: 660
  • # of teachers: 32
6
GreatSchools Rating

Justice M E Leavitt Middle School

  • Education Level: Middle
  • # of students: 1,496
  • # of teachers: 64
NA
GreatSchools Rating

Centennial High School

  • Education Level: High
  • # of students: 3,055
  • # of teachers: 124
6
GreatSchools Rating
 

$593,100$724,900$659,000

PURCHASE PRICE

$2,313$2,827$2,570

RENT

DOWN PAYMENT
FINANCING

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$500k$1.0M$1.5M$2.0M

PROJECTED ANNUAL CASH FLOW

11530-$10k-$5.0k$0.0$5.0k$10k$15k$20k$25k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$500k$1.0M$1.5M$2.0M

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,570
EXPENSES Loan Payment -$2,431
Property Tax -$384
Property Insurance -$77
Property Management Fees -$119
CASH FLOW
-$442

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.

$659,000

PROJECTED PRICE

$2,570

PROJECTED RENT

0.39%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.05%
Appreciation Year (1-5) 9.75%
Maintenance Year (1-5) 8.00%
Vacancy 7.57%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$180,385

INVESTMENT

$180,385

Down Payment
$164,750
Rehab Estimate
$5,750
Closing Costs
$9,885

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$2,431

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $164,750
Loan Amount $494,250
See What Happens When You Reinvest Cash Flow

2.58

YEARS SAVED

$15,949

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,570

    LIST RENT
  • $0.99

    LIST RENT PER SQFT
  • $2,019

    COMP ESTIMATED VALUE
  • $0.78

    COMP AVG. RENT PER SQFT
Comps Range
$1,675
1$1,6752$1,8853$1,8954$1,9955$2,570
$2,570
RENT COMPS ANALYSIS
  • 5525 Michelli Crest Way Las Vegas, NV 5
    • 3 beds 3 baths ∙ 2,588 Sqft ∙ Built 1998 3 beds 3 baths ∙ 2,588 Sqft ∙ Built 1998
    • Rent
    • Rent Per SQFT
    •  
    • $2,570
    • $0.99
    •  
  • 10533 Glowing Cove Avenue Las Vegas, NV 1
    • 4 beds 4 baths ∙ 2,480 Sqft ∙ Built 2002 4 beds 4 baths ∙ 2,480 Sqft ∙ Built 2002
    LEASED 02/28/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,675
    • $0.68
    •  
  • 6454 Dunns River Street Las Vegas, NV 2
    • 3 beds 2 baths ∙ 2,328 Sqft ∙ Built 2017 3 beds 2 baths ∙ 2,328 Sqft ∙ Built 2017
    LEASED 09/01/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,885
    • $0.81
    •  
  • 4520 Harvest Night Street Las Vegas, NV 3
    • 3 beds 2 baths ∙ 2,279 Sqft ∙ Built 2003 3 beds 2 baths ∙ 2,279 Sqft ∙ Built 2003
    LEASED 06/25/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,895
    • $0.83
    •  
  • 4648 Yellow Harbor Street #0 Las Vegas, NV 4
    • 4 beds 3 baths ∙ 2,480 Sqft ∙ Built 2003 4 beds 3 baths ∙ 2,480 Sqft ∙ Built 2003
    LEASED 04/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,995
    • $0.80
    •  
PROPERTY LISTING DETAILS
Michael Panos
1.702.499.4275
Realty One Group, Inc
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2222626
Last Updated: 08/24/2020
BESbswy