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5651 Fast Payout Court Las Vegas, NV 89122

3 Beds 3 Baths 1,984 sqft Built 2008

$299,888

List Price

$1,570

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

October 31, 2020 RECENTLY ADDED
FACTS
  • Built In 2008
  • Price/Sqft : $151.15
  • 5 Days on Market
  • MLS # : 2243612
  • Updated Date : 11/02/2020 at 16:49
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,984 sqft
  • Baths : 2 full , 1 half
Listing Agent

Evolve Realty

Listing Agent's Description

THE SEARCH IS OVER! ~ This beautiful 2 story home in gated community w/ community pool and park. Open floor plan has 3 spacious bedrooms w/ walk in closet and custom master closet, downstairs master! Spacious bathroom for two guest bedrooms upstairs. HUGE LOFT, Home has been beautifully remodeled w/ laminate flooring, Vaulted ceilings, Custom Tile, designer paint, modern lighting, and ceiling fans throughout. Grand Living room, great for the family. Chef-style Kitchen granite counters, all black appliances, new dishwasher and microwave. Backyard is spacious, pool size lot, and has view of the community park. This is a great property so please come see it, will not last!

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: Whitney

NeighborhoodNIR Market*CityMarket2010Year2000201980k100k120k140k160k180k200k220k240k260k280kPrice in $75k296k

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

Neighborhood: Whitney

NeighborhoodNIR Market*CityMarket2010Year20002019 Q29501000105011001150120012501300135014001450150015501600Rent in $9301603

* 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
Sister Robert Joseph Bailey Elementary School Primary Regular 839 46 4
Francis Cortney Middle School Middle Regular 1,235 52 NA
Basic High School High Regular 2,367 100 3

Sister Robert Joseph Bailey Elementary School

  • Education Level: Primary
  • # of students: 839
  • # of teachers: 46
4
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
 

$269,899$329,877$299,888

PURCHASE PRICE

$1,413$1,727$1,570

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,570
EXPENSES Loan Payment -$1,106
Property Tax -$216
Property Insurance -$66
Property Management Fees -$119
CASH FLOW
$63

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.

$299,888

PROJECTED PRICE

$1,570

PROJECTED RENT

0.52%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.75%
Appreciation Year (1-5) 12.6%
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

PROJECTED ANNUAL CASH FLOW

11530$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$85,220

INVESTMENT

$85,220

Down Payment
$74,972
Rehab Estimate
$5,750
Closing Costs
$4,498

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 45% down payment or higher enables the proceeds from the asset to cover all costs.

$1,106

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $74,972
Loan Amount $224,916
See What Happens When You Reinvest Cash Flow

6.5

YEARS SAVED

$26,717

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,570

    LIST RENT
  • $0.79

    LIST RENT PER SQFT
  • $1,607

    COMP ESTIMATED VALUE
  • $0.81

    COMP AVG. RENT PER SQFT
Comps Range
$1,550
1$1,5502$1,5703$1,5954$1,6485$1,650
$1,650
RENT COMPS ANALYSIS
  • 5651 Fast Payout Court Las Vegas, NV 2
    • 3 beds 3 baths ∙ 1,984 Sqft ∙ Built 2008 3 beds 3 baths ∙ 1,984 Sqft ∙ Built 2008
    • Rent
    • Rent Per SQFT
    •  
    • $1,570
    • $0.79
    •  
  • 4851 Longshot Drive Las Vegas, NV 1
    • 4 beds 3 baths ∙ 1,984 Sqft ∙ Built 2007 4 beds 3 baths ∙ 1,984 Sqft ∙ Built 2007
    LEASED 01/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $0.78
    •  
  • 5650 Lucky Draw Court Las Vegas, NV 3
    • 4 beds 3 baths ∙ 1,984 Sqft ∙ Built 2009 4 beds 3 baths ∙ 1,984 Sqft ∙ Built 2009
    LEASED 08/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $0.80
    •  
  • 4866 Longshot Drive Las Vegas, NV 4
    • 4 beds 3 baths ∙ 1,984 Sqft ∙ Built 2007 4 beds 3 baths ∙ 1,984 Sqft ∙ Built 2007
    LEASED 11/18/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,648
    • $0.83
    •  
  • 5660 Low Stakes Court Las Vegas, NV 5
    • 4 beds 3 baths ∙ 1,984 Sqft ∙ Built 2007 4 beds 3 baths ∙ 1,984 Sqft ∙ Built 2007
    LEASED 02/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.83
    •  
PROPERTY LISTING DETAILS
Aristeo J Ramos
1.702.588.4800
Evolve Realty
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2243612
Last Updated: 11/02/2020
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