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5579 Atrium Woods Lane Las Vegas, NV 89135

3 Beds 2 Baths 1,902 sqft Built 2012

$595,000

List Price

$2,060

$1.9K - $2.3K

Rent Est.

PROPERTY INFO

February 10, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2012
  • Price/Sqft : $312.83
  • 6 Days on Market
  • MLS # : 2268111
  • Updated Date : 02/10/2021 at 19:52
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,902 sqft
  • Baths : 2 full
Listing Agent

New Home Resource

Listing Agent's Description

Charming & very well maintained single-story ranch style Summerlin home offers 3 beds + a den and a refreshing solar-heated pool for those hot Vegas summer days! Enjoy mountain views with no rear neighbors from one of your two covered patios! Peaceful gated courtyard entry. Beautiful kitchen with extended island, granite countertops, custom cabinetry, double ovens and stainless steel appliances. For those who like to tinker, the finished garage is air conditioned! Cameras and alarm system. Custom interior doors and crown moulding. Water heater only 2 years old. Freshly painted exterior and brick sealed in 2020. Mature landscaping with rocks, shrubs, bushes and trees. Neighborhood has community pool, playground, parks and more. Situated on the outskirts of the fabulous Mesa Park. No SID! Make me yours today!

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: The Mesa

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450kPrice in $119k472k

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

Neighborhood: The Mesa

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21100120013001400150016001700180019002000210022002300Rent in $10762305

* 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
Kathy L. Batterman Elementary School Primary Regular 910 47 9
Victoria Fertitta Middle School Middle Regular 1,472 60 NA
Durango High School High Regular 2,302 95 5

Kathy L. Batterman Elementary School

  • Education Level: Primary
  • # of students: 910
  • # of teachers: 47
9
GreatSchools Rating

Victoria Fertitta Middle School

  • Education Level: Middle
  • # of students: 1,472
  • # of teachers: 60
NA
GreatSchools Rating

Durango High School

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

$535,500$654,500$595,000

PURCHASE PRICE

$1,854$2,266$2,060

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,060
EXPENSES Loan Payment -$2,067
Property Tax -$342
Property Insurance -$64
Property Management Fees -$119
CASH FLOW
-$532

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.

$595,000

PROJECTED PRICE

$2,060

PROJECTED RENT

0.35%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.05%
Appreciation Year (1-5) 7.7%
Maintenance Year (1-5) 8.00%
Vacancy 7.57%
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$1.4M$1.6M$1.8M

PROJECTED ANNUAL CASH FLOW

11530-$10k-$5.0k$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$1.4M$1.6M$1.8M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$163,425

INVESTMENT

$163,425

Down Payment
$148,750
Rehab Estimate
$5,750
Closing Costs
$8,925

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 60% down payment or higher enables the proceeds from the asset to cover all costs.

$2,067

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $148,750
Loan Amount $446,250
See What Happens When You Reinvest Cash Flow

1.5

YEARS SAVED

$5,073

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,060

    LIST RENT
  • $1.08

    LIST RENT PER SQFT
  • $2,064

    COMP ESTIMATED VALUE
  • $1.09

    COMP AVG. RENT PER SQFT
Comps Range
$1,950
1$1,9502$2,0603$2,0754$2,2005$2,250
$2,250
RENT COMPS ANALYSIS
  • 5579 Atrium Woods Lane Las Vegas, NV 2
    • 3 beds 2 baths ∙ 1,902 Sqft ∙ Built 2012 3 beds 2 baths ∙ 1,902 Sqft ∙ Built 2012
    • Rent
    • Rent Per SQFT
    •  
    • $2,060
    • $1.08
    •  
  • 10679 Country Knoll Way #na Las Vegas, NV 1
    • 3 beds 3 baths ∙ 1,852 Sqft ∙ Built 2015 3 beds 3 baths ∙ 1,852 Sqft ∙ Built 2015
    LEASED 04/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $1.05
    •  
  • 10629 Agate Knoll Lane Las Vegas, NV 3
    • 3 beds 3 baths ∙ 1,846 Sqft ∙ Built 2011 3 beds 3 baths ∙ 1,846 Sqft ∙ Built 2011
    LEASED 06/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,075
    • $1.12
    •  
  • 5511 Bellmead Court Las Vegas, NV 4
    • 3 beds 3 baths ∙ 2,052 Sqft ∙ Built 2013 3 beds 3 baths ∙ 2,052 Sqft ∙ Built 2013
    LEASED 02/01/21
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $1.07
    •  
  • 5526 Alden Bend Drive Las Vegas, NV 5
    • 3 beds 3 baths ∙ 2,052 Sqft ∙ Built 2014 3 beds 3 baths ∙ 2,052 Sqft ∙ Built 2014
    LEASED 01/18/21
    • Rent
    • Rent Per SQFT
    •  
    • $2,250
    • $1.10
    •  
PROPERTY LISTING DETAILS
Joanna Piette
1.702.493.5305
New Home Resource
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2268111
Last Updated: 02/10/2021
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