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PROPERTY INFO
FACTS
- Single Family
- Built In 2017
- Price/Sqft : $225.03
- 3 Days on Market
- MLS # : 2260413
- Updated Date : 01/09/2021 at 04:30
CONSTRUCTION
- Beds : 3
- Floor Size : 1,622 sqft
- Baths : 2 full , 1 half
Listing Agent
Evolve Realty
Listing Agent's Description
PANORAMIC LAS VEGAS VIEWS from the Strip to the Mountains & everything in between! This house has it all: waterproof vinyl planks throughout downstairs, upgraded kitchen w/ granite countertops, dark wood cabinets, stainless steel appliances, & cabinet uplighting, see through pantry, nest thermostats & cameras, alarm system, keyless combo entry, water softener, tankless water heater, modern ceiling fans throughout, solar panels, & rooftop view deck w/ BBQ stub. Upstairs has a big loft that can be used for a second living/TV room, office, or an exercise area separating the Primary Bedroom from the other two bedrooms. From there, walk up the stairs to an unbelievable rooftop deck that can be set up for a perfect third living space for entertaining outdoors w/ the incredible 360-degree view of Las Vegas. Community is conveniently located in the booming SW near the 215 & Buffalo exit, a new live/work/play development, IKEA, The Bend, etc. Large back & side yard big enough for a kidney pool.
SEE MORE
- 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)
- 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)
PRICE & RENT TRENDS
Neighborhood: Spring Valley
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: Spring Valley
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $1,590 |
| EXPENSES | Loan Payment | -$1,268 |
| Property Tax | -$255 | |
| Property Insurance | -$59 | |
| Property Management Fees | -$119 | |
|
CASH FLOW
-$110
|
||
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.
$365,000
PROJECTED PRICE
$1,590
PROJECTED RENT
0.44%
PROJECTED RENT / PRICE RATIO
| 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
PROJECTED ANNUAL CASH FLOW
PROJECTED PROPERTY VALUE
30 YEAR PROJECTION
- Appreciation
- Principal
- Loan Balance
TOTAL CASH OUT OF POCKET
INVESTMENT
$102,475
LOAN DETAILS
$1,268
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 3.75% |
| Down Payment | $91,250 |
| Loan Amount | $273,750 |
4.25
YEARS SAVED
$14,569
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$1,590
LIST RENT -
$0.98
LIST RENT PER SQFT
-
$1,590
COMP ESTIMATED VALUE -
$0.98
COMP AVG. RENT PER SQFT
Comps Range
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5586 Cornadelo Range Road Las Vegas, NV 3
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- Rent Per SQFT
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- $0.98
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- $1,350
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5748 Port Douglas Court #lot 6 Las Vegas, NV 2
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LEASED 05/15/20- Rent
- Rent Per SQFT
- $1,495
- $0.92
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7559 West Diablo Drive Las Vegas, NV 4
- 3 beds 2 baths ∙ 1,504 Sqft ∙ Built 1997 3 beds 2 baths ∙ 1,504 Sqft ∙ Built 1997
LEASED 05/27/20- Rent
- Rent Per SQFT
- $1,600
- $1.06
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7728 Gallego Plains Drive Las Vegas, NV 5
- 3 beds 3 baths ∙ 1,622 Sqft ∙ Built 2018 3 beds 3 baths ∙ 1,622 Sqft ∙ Built 2018
LEASED 08/28/20- Rent
- Rent Per SQFT
- $1,650
- $1.02
PROPERTY LISTING DETAILS
1.702.610.6103
Evolve Realty
1.866.250.5610
Mynd Property Management
1453579
MLS #: 2260413
Last Updated: 01/09/2021
