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5606 El Rito Court Las Vegas, NV 89122

4 Beds 2 Baths 1,601 sqft Built 2004

INVESTimate

$249,888

List Price

$1,250

$1,125 - $1,375

Rent Est.

$277,551  ( +11.07%)   1 YR EST. FORECAST

PROPERTY INFO

FACTS
  • Built In 2004
  • Price/Sqft : $156.08
  • 10 Days on Market
  • MLS # : 2222946
  • Updated Date : 08/21/2020 at 18:30
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,601 sqft
  • Baths : 1 full , 1 half
Listing Agent

Signature Real Estate Group

Listing Agent's Description

This 4 bedroom 2.5 baths home is located in a gated community with lots of amenities. The home has a large open kitchen, laundry upstairs near the bedrooms. Tandem 2 car garage.

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MARKET HIGHLIGHTS

  • 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)
  • 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)

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
 

$224,899$274,877$249,888

PURCHASE PRICE

$1,125$1,375$1,250

RENT

DOWN PAYMENT
FINANCING

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

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

PROJECTED ANNUAL CASH FLOW

11530-$4.0k-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,250
EXPENSES Loan Payment -$922
Property Tax -$171
Property Insurance -$58
HOA -$110
Property Management Fees -$119
CASH FLOW
-$131

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.

$249,888

PROJECTED PRICE

$1,250

PROJECTED RENT

0.50%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.75%
Appreciation Year (1-5) 11.07%
Maintenance Year (1-5) 8.00%
Vacancy 8.50%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$71,970

INVESTMENT

$71,970

Down Payment
$62,472
Rehab Estimate
$5,750
Closing Costs
$3,748

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 60% down payment or higher enables the proceeds from the asset to cover all costs.

$922

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $62,472
Loan Amount $187,416
See What Happens When You Reinvest Cash Flow

2.67

YEARS SAVED

$6,044

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,250

    LIST RENT
  • $0.78

    LIST RENT PER SQFT
  • $1,325

    COMP ESTIMATED VALUE
  • $0.83

    COMP AVG. RENT PER SQFT
Comps Range
$1,250
1$1,2502$1,3003$1,3954$1,4005$1,450
$1,450
RENT COMPS ANALYSIS
  • 5606 El Rito Court Las Vegas, NV 1
    • 4 beds 2 baths ∙ 1,601 Sqft ∙ Built 2004 4 beds 2 baths ∙ 1,601 Sqft ∙ Built 2004
    • Rent
    • Rent Per SQFT
    •  
    • $1,250
    • $0.78
    •  
  • 5280 Opal Creek Way #0 Las Vegas, NV 2
    • 3 beds 2 baths ∙ 1,552 Sqft ∙ Built 2006 3 beds 2 baths ∙ 1,552 Sqft ∙ Built 2006
    LEASED 01/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,300
    • $0.84
    •  
  • 5556 Mercury Springs Drive Las Vegas, NV 3
    • 3 beds 3 baths ∙ 1,689 Sqft ∙ Built 2012 3 beds 3 baths ∙ 1,689 Sqft ∙ Built 2012
    LEASED 08/31/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,395
    • $0.83
    •  
  • 5484 Mercury Springs Drive Las Vegas, NV 4
    • 3 beds 3 baths ∙ 1,689 Sqft ∙ Built 2012 3 beds 3 baths ∙ 1,689 Sqft ∙ Built 2012
    LEASED 02/25/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,400
    • $0.83
    •  
  • 5519 Glitter Rock Las Vegas, NV 5
    • 3 beds 3 baths ∙ 1,786 Sqft ∙ Built 2012 3 beds 3 baths ∙ 1,786 Sqft ∙ Built 2012
    LEASED 06/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $0.81
    •  
PROPERTY LISTING DETAILS
Deborah A Newhardt
1.702.302.7867
Signature Real Estate Group
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2222946
Last Updated: 08/21/2020
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