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5583 Hawley Court Las Vegas, NV 89118

5 Beds 4 Baths 3,761 sqft Built 2008

$500,000

List Price

$2,830

$2.6K - $3.1K

Rent Est.

PROPERTY INFO

FACTS
  • Built In 2008
  • Price/Sqft : $132.94
  • 11 Days on Market
  • MLS # : 2242208
  • Updated Date : 10/24/2020 at 16:00
CONSTRUCTION
  • Beds : 5
  • Floor Size : 3,761 sqft
  • Baths : 3 full , 1 half
Listing Agent

Red Rock Realty

Listing Agent's Description

Entertainer's Dream Home in a Gated Community! Large Common Areas and Down Stairs Master! Beautiful Finishes throughout the home including Granite Countertops and Stainless Steel Appliances. 5 Bedrooms, 3 Car Garage, No Neighbor to the Rear and Centrally Located; Minutes to Shopping, Restaurants, Freeway, and the Strip!

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

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
 

$450,000$550,000$500,000

PURCHASE PRICE

$2,547$3,113$2,830

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,830
EXPENSES Loan Payment -$1,845
Property Tax -$419
Property Insurance -$100
HOA -$60
Property Management Fees -$119
CASH FLOW
$288

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.

$500,000

PROJECTED PRICE

$2,830

PROJECTED RENT

0.57%

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

PROJECTED ANNUAL CASH FLOW

11530$0.0$5.0k$10k$15k$20k$25k$30k$35k

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$138,250

INVESTMENT

$138,250

Down Payment
$125,000
Rehab Estimate
$5,750
Closing Costs
$7,500

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 40% down payment or higher enables the proceeds from the asset to cover all costs.

$1,845

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $125,000
Loan Amount $375,000
See What Happens When You Reinvest Cash Flow

8.58

YEARS SAVED

$68,889

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,830

    LIST RENT
  • $0.75

    LIST RENT PER SQFT
  • $3,071

    COMP ESTIMATED VALUE
  • $0.82

    COMP AVG. RENT PER SQFT
Comps Range
$2,500
1$2,5002$2,8303$3,0004$3,500
$3,500
RENT COMPS ANALYSIS
  • 5583 Hawley Court Las Vegas, NV 2
    • 5 beds 4 baths ∙ 3,761 Sqft ∙ Built 2008 5 beds 4 baths ∙ 3,761 Sqft ∙ Built 2008
    • Rent
    • Rent Per SQFT
    •  
    • $2,830
    • $0.75
    •  
  • 6574 Diablo Las Vegas, NV 1
    • 4 beds 4 baths ∙ 3,490 Sqft ∙ Built 1997 4 beds 4 baths ∙ 3,490 Sqft ∙ Built 1997
    LEASED 05/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $0.72
    •  
  • 8049 Pinnacle Peak Avenue Las Vegas, NV 3
    • 4 beds 3 baths ∙ 3,508 Sqft ∙ Built 1988 4 beds 3 baths ∙ 3,508 Sqft ∙ Built 1988
    LEASED 05/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,000
    • $0.86
    •  
  • 5640 Silver Bear Las Vegas, NV 4
    • 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
    •  
PROPERTY LISTING DETAILS
Phillip Alexander
1.323.459.8951
Red Rock Realty
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2242208
Last Updated: 10/24/2020
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