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556 Candy Mint Avenue Las Vegas, NV 89183

2 Beds 2 Baths 1,279 sqft Built 2002

INVESTimate

$239,900

List Price

$1,260

$1,134 - $1,386

Rent Est.

$264,250  ( +10.15%)   1 YR EST. FORECAST

PROPERTY INFO

August 24, 2020 RECENTLY ADDED
FACTS
  • Built In 2002
  • Price/Sqft : $187.57
  • 4 Days on Market
  • MLS # : 2223881
  • Updated Date : 08/25/2020 at 10:14
CONSTRUCTION
  • Beds : 2
  • Floor Size : 1,279 sqft
  • Baths : 1 full , 1 half
Listing Agent

Offerpad

Listing Agent's Description

MOVE IN READY in desirable Silverado Ranch community! 2 BR, 2.5 BA, 2 story home. NEW interior paint, carpet & vinyl plank flooring. UPDATED cabinets through out. Living room w/ceiling fan. The kitchen features NEW quarz counters, faucet & SS range, microwave & dishwasher. Dishwasher to be installed prior to COE. NEW vanities/toilets at MBA & 3/4 baths. Family rm & master bedrm upstairs. MBR w/walk-in closet & ensuite bath. NEW toilets at both baths. NEW HVAC. Community amenities include playground, pool & spa. RENTAL RESTRICTIONS! DON'T MISS!

SEE MORE

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: Silverado Ranch

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300kPrice in $119k305k

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

Neighborhood: Silverado Ranch

NeighborhoodNIR Market*CityMarket2010Year20002019 Q211001150120012501300135014001450150015501600Rent in $10761606

* 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
John C. Bass Elementary School Primary Regular 885 46 6
Charles Silvestri Junior High School Middle Regular 1,748 68 NA
Liberty High School High Regular 2,496 105 5

John C. Bass Elementary School

  • Education Level: Primary
  • # of students: 885
  • # of teachers: 46
6
GreatSchools Rating

Charles Silvestri Junior High School

  • Education Level: Middle
  • # of students: 1,748
  • # of teachers: 68
NA
GreatSchools Rating

Liberty High School

  • Education Level: High
  • # of students: 2,496
  • # of teachers: 105
5
GreatSchools Rating
 

$215,910$263,890$239,900

PURCHASE PRICE

$1,134$1,386$1,260

RENT

DOWN PAYMENT
FINANCING

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$200k$400k$600k$800k

PROJECTED ANNUAL CASH FLOW

11530-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k$700k$800k

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,260
EXPENSES Loan Payment -$885
Property Tax -$150
Property Insurance -$52
HOA -$68
Property Management Fees -$119
CASH FLOW
-$14

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.

$239,900

PROJECTED PRICE

$1,260

PROJECTED RENT

0.53%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.96%
Appreciation Year (1-5) 10.15%
Maintenance Year (1-5) 8.00%
Vacancy 7.63%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$69,324

INVESTMENT

$69,324

Down Payment
$59,975
Rehab Estimate
$5,750
Closing Costs
$3,599

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$885

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $59,975
Loan Amount $179,925
See What Happens When You Reinvest Cash Flow

5.5

YEARS SAVED

$16,807

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,260

    LIST RENT
  • $0.99

    LIST RENT PER SQFT
  • $1,273

    COMP ESTIMATED VALUE
  • $1

    COMP AVG. RENT PER SQFT
Comps Range
$1,250
1$1,2502$1,2503$1,2604$1,3005$1,300
$1,300
RENT COMPS ANALYSIS
  • 556 Candy Mint Avenue Las Vegas, NV 3
    • 2 beds 2 baths ∙ 1,279 Sqft ∙ Built 2002 2 beds 2 baths ∙ 1,279 Sqft ∙ Built 2002
    • Rent
    • Rent Per SQFT
    •  
    • $1,260
    • $0.99
    •  
  • 10387 Tranquil Breeze Street Las Vegas, NV 1
    • 2 beds 2 baths ∙ 1,279 Sqft ∙ Built 2004 2 beds 2 baths ∙ 1,279 Sqft ∙ Built 2004
    LEASED 11/01/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,250
    • $0.98
    •  
  • 10396 Midseason Mist Las Vegas, NV 2
    • 2 beds 3 baths ∙ 1,279 Sqft ∙ Built 2003 2 beds 3 baths ∙ 1,279 Sqft ∙ Built 2003
    LEASED 06/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,250
    • $0.98
    •  
  • 10167 Rising Tree #n/a Las Vegas, NV 4
    • 2 beds 3 baths ∙ 1,284 Sqft ∙ Built 2002 2 beds 3 baths ∙ 1,284 Sqft ∙ Built 2002
    LEASED 04/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,300
    • $1.01
    •  
  • 10191 Rising Tree Street Las Vegas, NV 5
    • 2 beds 2 baths ∙ 1,284 Sqft ∙ Built 2001 2 beds 2 baths ∙ 1,284 Sqft ∙ Built 2001
    LEASED 07/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,300
    • $1.01
    •  
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 #: 2223881
Last Updated: 08/25/2020
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