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5543 Aleman Drive Las Vegas, NV 89113

3 Beds 3 Baths 1,766 sqft Built 1998

$334,900

List Price

$1,560

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

December 11, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1998
  • Price/Sqft : $189.64
  • 3 Days on Market
  • MLS # : 2254818
  • Updated Date : 12/11/2020 at 16:30
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,766 sqft
  • Baths : 2 full , 1 half
Listing Agent

Offerpad

Listing Agent's Description

GORGEOUS! 3 bedroom 2.5 bath, 2 story home in the southwest. NEW interior paint. Open floor plan. Living room w/laminate flooring & media niche. The dining area has french doors to the covered patio & large backyard. Gourmet kitchen features island w/breakfast bar, cherry wood cabinets, granite counters, tile backsplash & SS appliances. All bedrooms up. Master bedroom w/large sitting room & walk-in closet. Ensuite bath w/2 sinks, tub & shower. NEW water heater. HVAC repaired. MUST SEE!

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: 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
Marion B. Earl Elementary School Primary Regular 727 38 6
Grant Sawyer Middle School Middle Regular 1,308 52 NA
Durango High School High Regular 2,302 95 5

Marion B. Earl Elementary School

  • Education Level: Primary
  • # of students: 727
  • # of teachers: 38
6
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
 

$301,410$368,390$334,900

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 -$1,236
Property Tax -$196
Property Insurance -$61
Property Management Fees -$119
CASH FLOW
-$52

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.

$334,900

PROJECTED PRICE

$1,560

PROJECTED RENT

0.47%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.96%
Appreciation Year (1-5) 9.9%
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

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$94,499

INVESTMENT

$94,499

Down Payment
$83,725
Rehab Estimate
$5,750
Closing Costs
$5,024

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,236

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $83,725
Loan Amount $251,175
See What Happens When You Reinvest Cash Flow

5.33

YEARS SAVED

$21,805

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
  • $0.88

    LIST RENT PER SQFT
  • $1,594

    COMP ESTIMATED VALUE
  • $0.9

    COMP AVG. RENT PER SQFT
Comps Range
$1,500
1$1,5002$1,5603$1,6404$1,6505$1,695
$1,695
RENT COMPS ANALYSIS
  • 5543 Aleman Drive Las Vegas, NV 2
    • 3 beds 3 baths ∙ 1,766 Sqft ∙ Built 1998 3 beds 3 baths ∙ 1,766 Sqft ∙ Built 1998
    • Rent
    • Rent Per SQFT
    •  
    • $1,560
    • $0.88
    •  
  • 7364 Dewey Drive Las Vegas, NV 1
    • 4 beds 3 baths ∙ 1,746 Sqft ∙ Built 1999 4 beds 3 baths ∙ 1,746 Sqft ∙ Built 1999
    LEASED 11/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $0.86
    •  
  • 7399 Diablo Drive Las Vegas, NV 3
    • 4 beds 3 baths ∙ 1,786 Sqft ∙ Built 2000 4 beds 3 baths ∙ 1,786 Sqft ∙ Built 2000
    LEASED 05/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,640
    • $0.92
    •  
  • 7047 Sombra Way Las Vegas, NV 4
    • 3 beds 3 baths ∙ 1,832 Sqft ∙ Built 2004 3 beds 3 baths ∙ 1,832 Sqft ∙ Built 2004
    LEASED 08/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.90
    •  
  • 7034 De Paz Way Las Vegas, NV 5
    • 4 beds 3 baths ∙ 1,828 Sqft ∙ Built 2003 4 beds 3 baths ∙ 1,828 Sqft ∙ Built 2003
    LEASED 03/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $0.93
    •  
PROPERTY LISTING DETAILS
Robert E Jones
1.480.636.9175
Offerpad
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2254818
Last Updated: 12/11/2020
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