Work with a dedicated Real Estate Advisor who will take your financial preferences and help you select and acquire properties that fit your criteria. Learn more

5590 Prospectors Creek Way Las Vegas, NV 89122

4 Beds 2 Baths 1,840 sqft Built 2005

$289,900

List Price

$1,320

$1.2K - $1.5K

Rent Est.

PROPERTY INFO

November 28, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2005
  • Price/Sqft : $157.55
  • 2 Days on Market
  • MLS # : 2247289
  • Updated Date : 11/28/2020 at 14:56
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,840 sqft
  • Baths : 1 full , 1 half
Listing Agent

Realty One Group, Inc

Listing Agent's Description

COOL OFF IN THE COMMUNITY POOL on those oh so hot Vegas days, pool located a few steps away in the community common area along with a hot tub, gym, basketball court, BBQ area & a playground all in this guard-gated delightful owner-occupied neighborhood. This sparkling clean 4 Bedroom/3 bath /2 car garage lovely home is turn-key ready to go for your family's new memories to be made. New two-tone neutral paint, new Lennox A/C in 2019, a roomy kitchen with designer backsplash, brand new Whirlpool stainless steel microwave, gas stove, & dishwasher. A stainless steel refrigerator is also included. Brand new wood blinds, along with numerous ceiling fans/lights. Enjoy the wonderful & spacious backyard with covered patio, mature trees, & plenty of room to BBQ & relax in. Both front & backyard are fully landscaped. Primary bedroom is roomy, & so is the walk-in closet. New bath lighting, sinks, faucets, toilets, plus all new door hardware as well...come see your new warm & welcoming home today!

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

Zip Code: 89122

ZipNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260k280kPrice in $84k296k

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

Zip Code: 89122

ZipNIR Market*CityMarket2010Year20002019 Q21000105011001150120012501300135014001450150015501600Rent in $9651603

* 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
Josh Stevens Elementary School Primary Unknown NA
Francis Cortney Middle School Middle Regular 1,235 52 NA
Basic High School High Regular 2,367 100 3

Josh Stevens Elementary School

  • Education Level: Primary
  • # of students:
  • # of teachers:
NA
GreatSchools Rating

Francis Cortney Middle School

  • Education Level: Middle
  • # of students: 1,235
  • # of teachers: 52
NA
GreatSchools Rating

Basic High School

  • Education Level: High
  • # of students: 2,367
  • # of teachers: 100
3
GreatSchools Rating
 

$260,910$318,890$289,900

PURCHASE PRICE

$1,188$1,452$1,320

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,320
EXPENSES Loan Payment -$1,070
Property Tax -$200
Property Insurance -$63
Property Management Fees -$119
CASH FLOW
-$132

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 17% of earned rent to cover both maintenance and periods of vacancy.

$289,900

PROJECTED PRICE

$1,320

PROJECTED RENT

0.46%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.75%
Appreciation Year (1-5) 11.1%
Maintenance Year (1-5) 8.00%
Vacancy 8.50%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$200k$400k$600k$800k$1.0M

PROJECTED ANNUAL CASH FLOW

11530-$4.0k-$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$200k$400k$600k$800k$1.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$82,574

INVESTMENT

$82,574

Down Payment
$72,475
Rehab Estimate
$5,750
Closing Costs
$4,349

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$1,070

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $72,475
Loan Amount $217,425
See What Happens When You Reinvest Cash Flow

3.33

YEARS SAVED

$9,400

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,320

    LIST RENT
  • $0.72

    LIST RENT PER SQFT
  • $1,385

    COMP ESTIMATED VALUE
  • $0.75

    COMP AVG. RENT PER SQFT
Comps Range
$1,320
1$1,3202$1,4253$1,4954$1,5505$1,550
$1,550
RENT COMPS ANALYSIS
  • 5590 Prospectors Creek Way Las Vegas, NV 1
    • 4 beds 2 baths ∙ 1,840 Sqft ∙ Built 2005 4 beds 2 baths ∙ 1,840 Sqft ∙ Built 2005
    • Rent
    • Rent Per SQFT
    •  
    • $1,320
    • $0.72
    •  
  • 5676 Rainbow Creek Court Las Vegas, NV 2
    • 4 beds 3 baths ∙ 2,031 Sqft ∙ Built 2007 4 beds 3 baths ∙ 2,031 Sqft ∙ Built 2007
    LEASED 01/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,425
    • $0.70
    •  
  • 5668 Diamond Palm Court Las Vegas, NV 3
    • 4 beds 3 baths ∙ 2,031 Sqft ∙ Built 2007 4 beds 3 baths ∙ 2,031 Sqft ∙ Built 2007
    LEASED 04/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,495
    • $0.74
    •  
  • 6749 Prairie Dusk Las Vegas, NV 4
    • 4 beds 3 baths ∙ 1,979 Sqft ∙ Built 2012 4 beds 3 baths ∙ 1,979 Sqft ∙ Built 2012
    LEASED 05/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $0.78
    •  
  • 6828 Majestic Palm Drive Las Vegas, NV 5
    • 4 beds 3 baths ∙ 1,955 Sqft ∙ Built 2013 4 beds 3 baths ∙ 1,955 Sqft ∙ Built 2013
    LEASED 08/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $0.79
    •  
PROPERTY LISTING DETAILS
Pamela E Lednicky
1.702.290.9290
Realty One Group, Inc
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2247289
Last Updated: 11/28/2020
BESbswy