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5625 Sagamore Canyon Street North Las Vegas, NV 89081

2 Beds 2 Baths 1,885 sqft Built 2016

$385,000

List Price

$1,680

$1.5K - $1.8K

Rent Est.

PROPERTY INFO

December 20, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2016
  • Price/Sqft : $204.24
  • 2 Days on Market
  • MLS # : 2256852
  • Updated Date : 12/19/2020 at 21:30
CONSTRUCTION
  • Beds : 2
  • Floor Size : 1,885 sqft
  • Baths : 2 full
Listing Agent

Homesmart Encore

Listing Agent's Description

55+ Guard Gated. Resort Style Living. Close to State of the Art VA Hospital. True Pride of Ownership. 2BR and Den with Double Glass Doors - Easily 3rd BR. Entertainers Oasis - Huge Island with Built in Wine Fridge, Upgraded White Cabinets, Gorgeous Granite Counters, S/S Appliances. Tons of Counter and Storage space makes this home a Chefs Delight. Garden Window. Huge Great Room. Slider opens out to the extended covered Patio. 2 Pools, Gym, Steam Room, Pickle Ball, Tennis, Bocce, Putting Greens, Pet Park. Social Calendar

SEE MORE

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

Neighborhood: North Las Vegas

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260k280kPrice in $84k296k

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

Neighborhood: North Las Vegas

NeighborhoodNIR 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
D.l. Dusty Dickens Elementary School Primary Regular 753 43 6
Clifford O. Findlay Middle School Middle Regular 1,372 59 NA
Mojave High School High Regular 2,311 103 2

D.l. Dusty Dickens Elementary School

  • Education Level: Primary
  • # of students: 753
  • # of teachers: 43
6
GreatSchools Rating

Clifford O. Findlay Middle School

  • Education Level: Middle
  • # of students: 1,372
  • # of teachers: 59
NA
GreatSchools Rating

Mojave High School

  • Education Level: High
  • # of students: 2,311
  • # of teachers: 103
2
GreatSchools Rating
 

$346,500$423,500$385,000

PURCHASE PRICE

$1,512$1,848$1,680

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,680
EXPENSES Loan Payment -$1,420
Property Tax -$325
Property Insurance -$64
Property Management Fees -$119
CASH FLOW
-$248

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.

$385,000

PROJECTED PRICE

$1,680

PROJECTED RENT

0.44%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.75%
Appreciation Year (1-5) 11.1%
Maintenance Year (1-5) 8.00%
Vacancy 8.50%
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

PROJECTED ANNUAL CASH FLOW

11530-$5.0k$0.0$5.0k$10k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$107,775

INVESTMENT

$107,775

Down Payment
$96,250
Rehab Estimate
$5,750
Closing Costs
$5,775

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,420

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $96,250
Loan Amount $288,750
See What Happens When You Reinvest Cash Flow

2.42

YEARS SAVED

$7,394

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,680

    LIST RENT
  • $0.89

    LIST RENT PER SQFT
  • $1,684

    COMP ESTIMATED VALUE
  • $0.89

    COMP AVG. RENT PER SQFT
Comps Range
$1,300
1$1,3002$1,6503$1,6504$1,680
$1,680
RENT COMPS ANALYSIS
  • 5625 Sagamore Canyon Street North Las Vegas, NV 4
    • 2 beds 2 baths ∙ 1,885 Sqft ∙ Built 2016 2 beds 2 baths ∙ 1,885 Sqft ∙ Built 2016
    • Rent
    • Rent Per SQFT
    •  
    • $1,680
    • $0.89
    •  
  • 3613 Citrus Heights Avenue #0 North Las Vegas, NV 1
    • 2 beds 2 baths ∙ 1,699 Sqft ∙ Built 2006 2 beds 2 baths ∙ 1,699 Sqft ∙ Built 2006
    LEASED 07/15/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,300
    • $0.77
    •  
  • 3645 Starlight Ranch Avenue North Las Vegas, NV 2
    • 2 beds 2 baths ∙ 1,898 Sqft ∙ Built 2017 2 beds 2 baths ∙ 1,898 Sqft ∙ Built 2017
    LEASED 02/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.87
    •  
  • 5641 Keystone Crest Street North Las Vegas, NV 3
    • 2 beds 2 baths ∙ 1,592 Sqft ∙ Built 2017 2 beds 2 baths ∙ 1,592 Sqft ∙ Built 2017
    LEASED 10/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $1.04
    •  
PROPERTY LISTING DETAILS
Jennifer Telford
1.702.556.7842
Homesmart Encore
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2256852
Last Updated: 12/19/2020
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