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5655 Sage Lakes Avenue Las Vegas, NV 89139

4 Beds 3 Baths 2,701 sqft Built 2017

INVESTimate

$390,000

List Price

$1,880

$1,692 - $2,068

Rent Est.

$415,155  ( +6.45%)   1 YR EST. FORECAST

PROPERTY INFO

August 22, 2020 RECENTLY ADDED
FACTS
  • Built In 2017
  • Price/Sqft : $144.39
  • 6 Days on Market
  • MLS # : 2223430
  • Updated Date : 08/25/2020 at 17:41
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,701 sqft
  • Baths : 2 full , 1 half
Listing Agent

Era Brokers Consolidated

Listing Agent's Description

Gorgeous like-new 4 bedroom beauty loaded with upgrades in small gated SW community! Home includes Tesla charger in garage, Nest thermostat & alarm system. 18" tile throughout 1st floor. Gourmet kitchen features beautiful white cabinets with crown molding, stainless steel appliances, granite, pendant lights, large island with breakfast bar seating, gas cooktop & double built-in ovens. The kitchen also boasts a walk-in pantry & a butler's pantry which leads to formal dining room - perfect for entertaining. Spacious family room is open to the kitchen. 1st floor also has a den/office w/mounted TV that stays with the home. Upstairs is a loft & all 4 bedrooms as well as the conveniently located laundry room. Ceiling fans in all bedrooms. Master BR features walk-in closet w/extensive custom built-ins. Barn door to master bath which has granite counter, white cabinets, dual sinks, a large soaking tub & walk-in shower. Backyard has full length covered patio w/ceiling fan. Fire pit also stays!

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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: Highlands Ranch

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320k340k360kPrice in $119k369k

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

Neighborhood: Highlands Ranch

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2110012001300140015001600170018001900Rent in $10761902

* 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
Aldeane Comito Ries Elementary School Primary Regular 975 57 4
Lois And Jerry Tarkanian Middle School Middle Regular 1,739 71 NA
Desert Oasis High School High Regular 2,417 102 5

Aldeane Comito Ries Elementary School

  • Education Level: Primary
  • # of students: 975
  • # of teachers: 57
4
GreatSchools Rating

Lois And Jerry Tarkanian Middle School

  • Education Level: Middle
  • # of students: 1,739
  • # of teachers: 71
NA
GreatSchools Rating

Desert Oasis High School

  • Education Level: High
  • # of students: 2,417
  • # of teachers: 102
5
GreatSchools Rating
 

$351,000$429,000$390,000

PURCHASE PRICE

$1,692$2,068$1,880

RENT

DOWN PAYMENT
FINANCING

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

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,880
EXPENSES Loan Payment -$1,439
Property Tax -$324
Property Insurance -$79
HOA -$54
Property Management Fees -$119
CASH FLOW
-$135

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.

$390,000

PROJECTED PRICE

$1,880

PROJECTED RENT

0.48%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.05%
Appreciation Year (1-5) 6.45%
Maintenance Year (1-5) 8.00%
Vacancy 7.57%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$109,100

INVESTMENT

$109,100

Down Payment
$97,500
Rehab Estimate
$5,750
Closing Costs
$5,850

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,439

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $97,500
Loan Amount $292,500
See What Happens When You Reinvest Cash Flow

4.08

YEARS SAVED

$17,553

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,880

    LIST RENT
  • $0.7

    LIST RENT PER SQFT
  • $1,992

    COMP ESTIMATED VALUE
  • $0.74

    COMP AVG. RENT PER SQFT
Comps Range
$1,880
1$1,8802$1,8803$1,9004$1,9755$2,050
$2,050
RENT COMPS ANALYSIS
  • 5655 Sage Lakes Avenue Las Vegas, NV 2
    • 4 beds 3 baths ∙ 2,701 Sqft ∙ Built 2017 4 beds 3 baths ∙ 2,701 Sqft ∙ Built 2017
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,880
    • $0.70
    •  
  • 9781 Fox Estate Street Las Vegas, NV 1
    • 4 beds 2 baths ∙ 2,632 Sqft ∙ Built 2016 4 beds 2 baths ∙ 2,632 Sqft ∙ Built 2016
    property image
    LEASED 11/02/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,880
    • $0.71
    •  
  • 9734 Morgan Creek Court #n/a Las Vegas, NV 3
    • 4 beds 4 baths ∙ 2,644 Sqft ∙ Built 2015 4 beds 4 baths ∙ 2,644 Sqft ∙ Built 2015
    property image
    LEASED 10/03/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,900
    • $0.72
    •  
  • 5907 Laurel Lake Court Las Vegas, NV 4
    • 4 beds 3 baths ∙ 2,667 Sqft ∙ Built 2015 4 beds 3 baths ∙ 2,667 Sqft ∙ Built 2015
    property image
    LEASED 04/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,975
    • $0.74
    •  
  • 5934 Gordon Creek Avenue Las Vegas, NV 5
    • 4 beds 4 baths ∙ 2,644 Sqft ∙ Built 2015 4 beds 4 baths ∙ 2,644 Sqft ∙ Built 2015
    property image
    LEASED 09/19/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,050
    • $0.78
    •  
PROPERTY LISTING DETAILS
Richard Lasica
1.702.992.7772
Era Brokers Consolidated
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2223430
Last Updated: 08/25/2020
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