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5616 Royal Castle Lane Las Vegas, NV 89130

3 Beds 2 Baths 1,285 sqft Built 1994

$289,900

List Price

$1,170

$1.1K - $1.3K

Rent Est.

PROPERTY INFO

December 05, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1994
  • Price/Sqft : $225.60
  • 2 Days on Market
  • MLS # : 2251551
  • Updated Date : 12/05/2020 at 01:30
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,285 sqft
  • Baths : 2 full
Listing Agent

Summit Properties

Listing Agent's Description

Must see, Very hard to find small single story house with 3 car garage. Remodeled in 2018, with all tile flooring, new paint, fixtures & appliances. Functional covered side yard more than 300SF+. No HOA, very close distance to shopping area and hospital. This property wont last long.

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

Neighborhood: Grand Entries

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300kPrice in $118k307k

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

Neighborhood: Grand Entries

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21000105011001150120012501300135014001450150015501600Rent in $9761606

* 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
Joseph Neal Steam Academy Primary Regular 688 34 5
Anthony Saville Middle School Middle Regular 1,494 58 NA
Shadow Ridge High School High Regular 2,697 105 6

Joseph Neal Steam Academy

  • Education Level: Primary
  • # of students: 688
  • # of teachers: 34
5
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
 

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

PURCHASE PRICE

$1,053$1,287$1,170

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,170
EXPENSES Loan Payment -$1,070
Property Tax -$185
Property Insurance -$52
Property Management Fees -$119
CASH FLOW
-$256

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.

$289,900

PROJECTED PRICE

$1,170

PROJECTED RENT

0.40%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

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
11530$0.0$200k$400k$600k$800k$1.0M

PROJECTED ANNUAL CASH FLOW

11530-$6.0k-$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$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 60% 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

1.92

YEARS SAVED

$4,040

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,170

    LIST RENT
  • $0.91

    LIST RENT PER SQFT
  • $1,166

    COMP ESTIMATED VALUE
  • $0.91

    COMP AVG. RENT PER SQFT
Comps Range
$1,170
1$1,1702$1,2953$1,2954$1,2955$1,350
$1,350
RENT COMPS ANALYSIS
  • 5616 Royal Castle Lane Las Vegas, NV 1
    • 3 beds 2 baths ∙ 1,285 Sqft ∙ Built 1994 3 beds 2 baths ∙ 1,285 Sqft ∙ Built 1994
    • Rent
    • Rent Per SQFT
    •  
    • $1,170
    • $0.91
    •  
  • 7558 Durham Hall Avenue #201 Las Vegas, NV 2
    • 3 beds 2 baths ∙ 1,440 Sqft ∙ Built 1999 3 beds 2 baths ∙ 1,440 Sqft ∙ Built 1999
    LEASED 01/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,295
    • $0.90
    •  
  • 6107 Daisy Petal Street #201 Las Vegas, NV 3
    • 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
    •  
  • 7554 Glowing Ember Court #201 Las Vegas, NV 4
    • 3 beds 2 baths ∙ 1,440 Sqft ∙ Built 1998 3 beds 2 baths ∙ 1,440 Sqft ∙ Built 1998
    LEASED 10/12/20
    • 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
Hai Shen
1.702.326.6223
Summit Properties
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2251551
Last Updated: 12/05/2020
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