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5605 Tropical Toucan Avenue Las Vegas, NV 89130

3 Beds 3 Baths 2,002 sqft Built 1996

$429,900

List Price

$1,710

$1.5K - $1.9K

Rent Est.

PROPERTY INFO

January 08, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1996
  • Price/Sqft : $214.74
  • 3 Days on Market
  • MLS # : 2260323
  • Updated Date : 01/09/2021 at 19:36
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,002 sqft
  • Baths : 2 full , 1 half
Listing Agent

Platinum R.e. Professionals

Listing Agent's Description

ADORABLE 1 STORY- 3 BEDROOM 2.5 BATH *POOL* HOME LOCATED IN THE NORTH. SINGLE STORY NEIGHBORHOOD~ NO HOA!! THIS HOME FEATURES AN OPEN FLOOR PLAN AND TONS OF WINDOWS! THE KITCHEN FEATURES WHITE SHAKER CABINETS, GRANITE COUNTERTOPS AND NEW SS APPLIANCES. GAS FIREPLACE IN THE LIVING ROOM MAKES THIS A COZY SPACE TO ENTERTAIN. ALL BEDROOMS ARE CARPET. MASTER BEDROOM HAS LARGE WALK IN CUSTOM CLOSET AND GORGEOUS MASTER BATH. ENTERTAIN IN THE BACKYARD WITH COVERED PATIO AND REFRESHING POOL. DON'T WAIT TO SEE THIS HOME!STUNNING & IMMACULATE

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MARKET HIGHLIGHTS

  • 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: North Cheyenne

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300kPrice in $119k302k

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

Neighborhood: North Cheyenne

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2105011001150120012501300135014001450150015501600Rent in $10011606

* 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
Kay Carl Elementary School Primary Regular 686 32 4
Anthony Saville Middle School Middle Regular 1,494 58 NA
Shadow Ridge High School High Regular 2,697 105 6

Kay Carl Elementary School

  • Education Level: Primary
  • # of students: 686
  • # of teachers: 32
4
GreatSchools Rating

Anthony Saville Middle School

  • Education Level: Middle
  • # of students: 1,494
  • # of teachers: 58
NA
GreatSchools Rating

Shadow Ridge High School

  • Education Level: High
  • # of students: 2,697
  • # of teachers: 105
6
GreatSchools Rating
 

$386,910$472,890$429,900

PURCHASE PRICE

$1,539$1,881$1,710

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,710
EXPENSES Loan Payment -$1,493
Property Tax -$266
Property Insurance -$66
Property Management Fees -$119
CASH FLOW
-$234

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.

$429,900

PROJECTED PRICE

$1,710

PROJECTED RENT

0.40%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.96%
Appreciation Year (1-5) 10.7%
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$200k$400k$600k$800k$1.0M$1.2M$1.4M$1.6M

PROJECTED ANNUAL CASH FLOW

11530-$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$119,674

INVESTMENT

$119,674

Down Payment
$107,475
Rehab Estimate
$5,750
Closing Costs
$6,449

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,493

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $107,475
Loan Amount $322,425
See What Happens When You Reinvest Cash Flow

3.08

YEARS SAVED

$10,397

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,710

    LIST RENT
  • $0.85

    LIST RENT PER SQFT
  • $1,622

    COMP ESTIMATED VALUE
  • $0.81

    COMP AVG. RENT PER SQFT
Comps Range
$1,550
1$1,5502$1,5953$1,6004$1,6955$1,710
$1,710
RENT COMPS ANALYSIS
  • 5605 Tropical Toucan Avenue Las Vegas, NV 5
    • 3 beds 3 baths ∙ 2,002 Sqft ∙ Built 1996 3 beds 3 baths ∙ 2,002 Sqft ∙ Built 1996
    • Rent
    • Rent Per SQFT
    •  
    • $1,710
    • $0.85
    •  
  • 5712 Tropic Mist Street Las Vegas, NV 1
    • 3 beds 2 baths ∙ 2,002 Sqft ∙ Built 1996 3 beds 2 baths ∙ 2,002 Sqft ∙ Built 1996
    LEASED 05/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $0.77
    •  
  • 6028 Crystal Cascade Street Las Vegas, NV 2
    • 3 beds 3 baths ∙ 1,898 Sqft ∙ Built 1999 3 beds 3 baths ∙ 1,898 Sqft ∙ Built 1999
    LEASED 10/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $0.84
    •  
  • 5328 Big Fawn Court Las Vegas, NV 3
    • 4 beds 3 baths ∙ 2,086 Sqft ∙ Built 2000 4 beds 3 baths ∙ 2,086 Sqft ∙ Built 2000
    LEASED 10/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $0.77
    •  
  • 5220 Backwoodsman Avenue Las Vegas, NV 4
    • 3 beds 2 baths ∙ 1,960 Sqft ∙ Built 1999 3 beds 2 baths ∙ 1,960 Sqft ∙ Built 1999
    LEASED 08/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $0.86
    •  
PROPERTY LISTING DETAILS
Andrew J Grasso
1.702.400.4782
Platinum R.e. Professionals
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2260323
Last Updated: 01/09/2021
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