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5613 Wedge Court Las Vegas, NV 89122

3 Beds 2 Baths 2,030 sqft Built 2000

$359,888

List Price

$1,600

$1.4K - $1.8K

Rent Est.

PROPERTY INFO

November 10, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2000
  • Price/Sqft : $177.28
  • 7 Days on Market
  • MLS # : 2246912
  • Updated Date : 11/11/2020 at 08:57
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,030 sqft
  • Baths : 2 full
Listing Agent

Homesmart Encore

Listing Agent's Description

Lovely single story in Guard gated Stallion Mountain Golf Course Community and it's Gorgeous in everyway....Open & Airy Great Room design with Vaulted ceilings, custom quality flooring throughout, Great room has custom ceilings and leads directly into Gourmet Kitchen with quartz counters, skylight, beautiful oak cabs, reverse osmosis filtration system, stainless steel appliances and breakfast bar, storm door leads to backyard paradise with covered patio, cabana, pool with waterfall feature, beautiful landscaping, additional cabs for storage in garage, water softner, remodeled baths, Custom quality window treatments throughout, too much to list, quality home at a reasonable price....show & sell

SEE MORE

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: Stallion Montain

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300kPrice in $119k306k

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

Neighborhood: Stallion Montain

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2105011001150120012501300135014001450150015501600Rent in $10071606

* 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
Cynthia Cunningham Elementary School Primary Regular 801 38 4
Kathleen And Tim Harney Middle School Middle Regular 1,845 71 NA
Chaparral High School High Regular 2,270 87 3

Cynthia Cunningham Elementary School

  • Education Level: Primary
  • # of students: 801
  • # of teachers: 38
4
GreatSchools Rating

Kathleen And Tim Harney Middle School

  • Education Level: Middle
  • # of students: 1,845
  • # of teachers: 71
NA
GreatSchools Rating

Chaparral High School

  • Education Level: High
  • # of students: 2,270
  • # of teachers: 87
3
GreatSchools Rating
 

$323,899$395,877$359,888

PURCHASE PRICE

$1,440$1,760$1,600

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,600
EXPENSES Loan Payment -$1,328
Property Tax -$257
Property Insurance -$67
Property Management Fees -$119
CASH FLOW
-$170

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.

$359,888

PROJECTED PRICE

$1,600

PROJECTED RENT

0.44%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.96%
Appreciation Year (1-5) 8.4%
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

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$101,120

INVESTMENT

$101,120

Down Payment
$89,972
Rehab Estimate
$5,750
Closing Costs
$5,398

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,328

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $89,972
Loan Amount $269,916
See What Happens When You Reinvest Cash Flow

3.58

YEARS SAVED

$13,290

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,600

    LIST RENT
  • $0.79

    LIST RENT PER SQFT
  • $1,675

    COMP ESTIMATED VALUE
  • $0.83

    COMP AVG. RENT PER SQFT
Comps Range
$1,600
1$1,6002$1,6003$1,6754$1,7005$1,700
$1,700
RENT COMPS ANALYSIS
  • 5613 Wedge Court Las Vegas, NV 2
    • 3 beds 2 baths ∙ 2,030 Sqft ∙ Built 2000 3 beds 2 baths ∙ 2,030 Sqft ∙ Built 2000
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $0.79
    •  
  • 6042 Orlov Trotter Avenue Las Vegas, NV 1
    • 3 beds 2 baths ∙ 1,925 Sqft ∙ Built 2006 3 beds 2 baths ∙ 1,925 Sqft ∙ Built 2006
    LEASED 09/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $0.83
    •  
  • 3846 Waynesvill Street Las Vegas, NV 3
    • 4 beds 2 baths ∙ 2,056 Sqft ∙ Built 2000 4 beds 2 baths ∙ 2,056 Sqft ∙ Built 2000
    LEASED 04/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,675
    • $0.81
    •  
  • 3855 Waynesvill Street Las Vegas, NV 4
    • 4 beds 2 baths ∙ 2,056 Sqft ∙ Built 2003 4 beds 2 baths ∙ 2,056 Sqft ∙ Built 2003
    LEASED 04/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $0.83
    •  
  • 5606 Estrella Mountain Court Las Vegas, NV 5
    • 4 beds 2 baths ∙ 2,056 Sqft ∙ Built 2001 4 beds 2 baths ∙ 2,056 Sqft ∙ Built 2001
    LEASED 07/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $0.83
    •  
PROPERTY LISTING DETAILS
John W Bostedt
1.702.526.6741
Homesmart Encore
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2246912
Last Updated: 11/11/2020
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