Work with a dedicated Real Estate Advisor who will take your financial preferences and help you select and acquire properties that fit your criteria. Learn more
REQUEST INFO
SCHEDULE APPOINTMENT
It's free, with no obligation
PROPERTY INFO
FACTS
- Single Family
- Built In 2003
- Price/Sqft : $217.56
- 3 Days on Market
- MLS # : 2271565
- Updated Date : 02/19/2021 at 23:23
CONSTRUCTION
- Beds : 5
- Floor Size : 2,528 sqft
- Baths : 2 full , 1 half
Listing Agent
Forever Home Realty
Listing Agent's Description
Honey stop the car! Rare opportunity to own a 5 bedroom in PRIME Summerlin. Highly desirable location just minutes from downtown Summerlin and Red Rock Casino. This one of a kind home sits on a premium lot boasting gorgeous mountain views, and is just steps away from the picturesque community park. Spacious open floor plan with Travertine Floors, Owned water filtration system, and owned solar panels. Nest system, motion sensors, and tankless water. Beautiful Flagstone in the backyard, fruit trees, and a waterfall in the front creating stunning curb appeal. Fully remodeled kitchen with stainless steel appliances, double oven, LED lighting and oversized Island. Tons of storage. Master retreat with sitting area, Roman Tub and executive height vanities. Huge living area and oversized loft, as well as the always sought after downstairs bedroom makes this an opportunity you simply cannot miss!
SEE MORE
- 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: The Vistas
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: The Vistas
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $2,270 |
| EXPENSES | Loan Payment | -$1,910 |
| Property Tax | -$312 | |
| Property Insurance | -$76 | |
| Property Management Fees | -$119 | |
|
CASH FLOW
-$148
|
||
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.
$550,000
PROJECTED PRICE
$2,270
PROJECTED RENT
0.41%
PROJECTED RENT / PRICE RATIO
| Expense Inflation | 2.50% |
| Rental Growth Year (1-5) | 4.05% |
| Appreciation Year (1-5) | 6.9% |
| Maintenance Year (1-5) | 8.00% |
| Vacancy | 7.57% |
| Length of Stay Years | 2 |
PROJECTED ACCUMULATED WEALTH
30 YEAR PROJECTION
- Cash Flow
- Appreciation
- Principal
PROJECTED ANNUAL CASH FLOW
PROJECTED PROPERTY VALUE
30 YEAR PROJECTION
- Appreciation
- Principal
- Loan Balance
TOTAL CASH OUT OF POCKET
INVESTMENT
$151,500
LOAN DETAILS
$1,910
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 3.75% |
| Down Payment | $137,500 |
| Loan Amount | $412,500 |
4.42
YEARS SAVED
$24,385
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$2,270
LIST RENT -
$0.9
LIST RENT PER SQFT
-
$2,477
COMP ESTIMATED VALUE -
$0.98
COMP AVG. RENT PER SQFT
Comps Range
-
565 Playa Linda Place Las Vegas, NV 2
- 5 beds 3 baths ∙ 2,528 Sqft ∙ Built 2003 5 beds 3 baths ∙ 2,528 Sqft ∙ Built 2003
- Rent
- Rent Per SQFT
- $2,270
- $0.90
-
552 Lacabana Beach Drive Las Vegas, NV 1
- 4 beds 2 baths ∙ 2,530 Sqft ∙ Built 2003 4 beds 2 baths ∙ 2,530 Sqft ∙ Built 2003
LEASED 01/06/21- Rent
- Rent Per SQFT
- $2,250
- $0.89
-
11709 Via Esperanza Avenue Las Vegas, NV 3
- 5 beds 3 baths ∙ 2,461 Sqft ∙ Built 2005 5 beds 3 baths ∙ 2,461 Sqft ∙ Built 2005
LEASED 11/02/20- Rent
- Rent Per SQFT
- $2,350
- $0.95
-
519 Las Ocas Court Las Vegas, NV 4
- 4 beds 3 baths ∙ 2,548 Sqft ∙ Built 2006 4 beds 3 baths ∙ 2,548 Sqft ∙ Built 2006
LEASED 03/09/20- Rent
- Rent Per SQFT
- $2,595
- $1.02
-
536 Calahonda Court Las Vegas, NV 5
- 5 beds 2 baths ∙ 2,548 Sqft ∙ Built 2006 5 beds 2 baths ∙ 2,548 Sqft ∙ Built 2006
LEASED 02/12/21- Rent
- Rent Per SQFT
- $2,700
- $1.06
PROPERTY LISTING DETAILS
1.702.281.2740
Forever Home Realty
1.866.250.5610
Mynd Property Management
1453579
MLS #: 2271565
Last Updated: 02/19/2021
