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5569 Sobb Avenue Las Vegas, NV 89118

4 Beds 3 Baths 4,054 sqft Built 2009

$824,990

List Price

$3,620

$3.4K - $3.9K

Rent Est.

PROPERTY INFO

December 12, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2009
  • Price/Sqft : $203.50
  • 3 Days on Market
  • MLS # : 2255207
  • Updated Date : 12/11/2020 at 19:30
CONSTRUCTION
  • Beds : 4
  • Floor Size : 4,054 sqft
  • Baths : 3 full
Listing Agent

Bhhs Nevada Properties

Listing Agent's Description

CUSTOM SINGLE STORY SENSATION ON NEARLY 1 ACRE OF LAND WITH GATED RV/BOAT PARKING, 4 BEDROOMS, 3 FULL BATHS, 3 CAR GARAGE & NO HOA'S! Grand Floorplan Features Formal Dining Room, Cozy Den, Spacious Great Room with Marble Gas Fireplace, Travertine Flooring & Crown Molding in Main Living Areas, Shutters & Upgraded Baseboards! Chef's Kitchen Features Huge Breakfast Bar, Island with Sink, Gorgeous Granite Countertops, Custom Cabinets, Double Ovens, Cook Top, Nook & All Stainless Steel Kitchen Appliances Included! Large Bedrooms & All Baths Feature Granite Countertops! Spacious & Separate Master Retreat Features 11X11 Sitting Area/Room & Master Bath Boasts Huge Walk-In Custom Closet, Jetted Oval Tub & Slate Shower! More Upgrades Include Water Boss Home Water Conditioning System, 13' Foot Wide RV Gate & Electrical Hook Up, Private Well, & Custom Built Shed! BACKYARD RETREAT IS AN ENTERTAINER'S DELIGHT W/COVERED PATIO, GORGEOUS GAZEBO, WOOD BURNING FIRE PIT & PLENTY OF SPACE FOR A POOL!

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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
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
 

$742,491$907,489$824,990

PURCHASE PRICE

$3,258$3,982$3,620

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,620
EXPENSES Loan Payment -$3,044
Property Tax -$593
Property Insurance -$106
Property Management Fees -$119
CASH FLOW
-$242

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.

$824,990

PROJECTED PRICE

$3,620

PROJECTED RENT

0.44%

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$500k$1.0M$1.5M$2.0M$2.5M$3.0M

PROJECTED ANNUAL CASH FLOW

11530-$10k$0.0$10k$20k$30k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$500k$1.0M$1.5M$2.0M$2.5M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$224,372

INVESTMENT

$224,372

Down Payment
$206,248
Rehab Estimate
$5,750
Closing Costs
$12,375

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$3,044

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $206,248
Loan Amount $618,743
See What Happens When You Reinvest Cash Flow

4.33

YEARS SAVED

$41,041

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,620

    LIST RENT
  • $0.89

    LIST RENT PER SQFT
  • $3,311

    COMP ESTIMATED VALUE
  • $0.82

    COMP AVG. RENT PER SQFT
Comps Range
$2,580
1$2,5802$3,5003$3,6204$4,000
$4,000
RENT COMPS ANALYSIS
  • 5569 Sobb Avenue Las Vegas, NV 3
    • 4 beds 3 baths ∙ 4,054 Sqft ∙ Built 2009 4 beds 3 baths ∙ 4,054 Sqft ∙ Built 2009
    • Rent
    • Rent Per SQFT
    •  
    • $3,620
    • $0.89
    •  
  • 7552 Fontera Court Las Vegas, NV 1
    • 5 beds 4 baths ∙ 4,117 Sqft ∙ Built 2013 5 beds 4 baths ∙ 4,117 Sqft ∙ Built 2013
    LEASED 12/24/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,580
    • $0.63
    •  
  • 5640 Silver Bear Las Vegas, NV 2
    • 4 beds 4 baths ∙ 4,026 Sqft ∙ Built 1995 4 beds 4 baths ∙ 4,026 Sqft ∙ Built 1995
    LEASED 04/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,500
    • $0.87
    •  
  • 3994 Jacob Lake Circle Las Vegas, NV 4
    • 5 beds 4 baths ∙ 4,201 Sqft ∙ Built 2017 5 beds 4 baths ∙ 4,201 Sqft ∙ Built 2017
    LEASED 10/30/19
    • Rent
    • Rent Per SQFT
    •  
    • $4,000
    • $0.95
    •  
PROPERTY LISTING DETAILS
Wayne Corbeille
1.702.336.7309
Bhhs Nevada Properties
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2255207
Last Updated: 12/11/2020
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