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PROPERTY INFO
FACTS
- Single Family
- Built In 1994
- Price/Sqft : $239.15
- 5 Days on Market
- MLS # : 2270753
- Updated Date : 02/20/2021 at 14:06
CONSTRUCTION
- Beds : 3
- Floor Size : 1,129 sqft
- Baths : 2 full
Listing Agent
Signature Real Estate Group
Listing Agent's Description
New to the market 1-story home located in no HOA community and 15 mins drive from the heart of Summerlin Boca Park and Tivoli Village. Well maintained by the original owner property sits on elevated next to the corner lot. RV gated parking open access on the right side of the house. Desert easy-maintenance landscaping, new RV gate, freshly painted interior walls, new bath appliances, air-conditioned storage bonus room in the garage, and tile floor everywhere. 3 bedrooms 2 full baths open space with plenty of daylight and higher ceilings home is ready to welcome a new owner.
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: Grand Entries
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: Grand Entries
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $1,240 |
| EXPENSES | Loan Payment | -$938 |
| Property Tax | -$172 | |
| Property Insurance | -$49 | |
| Property Management Fees | -$119 | |
|
CASH FLOW
-$38
|
||
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.
$270,000
PROJECTED PRICE
$1,240
PROJECTED RENT
0.46%
PROJECTED RENT / PRICE RATIO
| Expense Inflation | 2.50% |
| Rental Growth Year (1-5) | 3.96% |
| Appreciation Year (1-5) | 9.0% |
| 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
$77,300
LOAN DETAILS
$938
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 3.75% |
| Down Payment | $67,500 |
| Loan Amount | $202,500 |
5.25
YEARS SAVED
$14,459
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$1,240
LIST RENT -
$1.1
LIST RENT PER SQFT
-
$1,064
COMP ESTIMATED VALUE -
$0.94
COMP AVG. RENT PER SQFT
Comps Range
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5604 Royal Castle Lane Las Vegas, NV 2
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- Rent Per SQFT
- $1,240
- $1.10
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5837 Silver Heights Street #0 Las Vegas, NV 1
- 3 beds 2 baths ∙ 1,211 Sqft ∙ Built 1996 3 beds 2 baths ∙ 1,211 Sqft ∙ Built 1996
LEASED 11/07/19- Rent
- Rent Per SQFT
- $1,175
- $0.97
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7105 Utopia Way #0 Las Vegas, NV 3
- 3 beds 2 baths ∙ 1,284 Sqft ∙ Built 1994 3 beds 2 baths ∙ 1,284 Sqft ∙ Built 1994
LEASED 10/30/19- Rent
- Rent Per SQFT
- $1,250
- $0.97
-
6107 Daisy Petal Street #201 Las Vegas, NV 4
- 3 beds 2 baths ∙ 1,440 Sqft ∙ Built 1997 3 beds 2 baths ∙ 1,440 Sqft ∙ Built 1997
LEASED 10/15/20- Rent
- Rent Per SQFT
- $1,295
- $0.90
-
5808 Taj Mahal Drive Las Vegas, NV 5
- 3 beds 2 baths ∙ 1,459 Sqft ∙ Built 1995 3 beds 2 baths ∙ 1,459 Sqft ∙ Built 1995
LEASED 10/11/19- Rent
- Rent Per SQFT
- $1,350
- $0.93
PROPERTY LISTING DETAILS
1.917.202.8411
Signature Real Estate Group
1.866.250.5610
Mynd Property Management
1453579
MLS #: 2270753
Last Updated: 02/20/2021
