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5656 Pinnacle Falls Street North Las Vegas, NV 89081

2 Beds 2 Baths 1,592 sqft Built 2011

$370,000

List Price

$1,660

$1.5K - $1.8K

Rent Est.

PROPERTY INFO

January 31, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2011
  • Price/Sqft : $232.41
  • 2 Days on Market
  • MLS # : 2265544
  • Updated Date : 01/31/2021 at 02:00
CONSTRUCTION
  • Beds : 2
  • Floor Size : 1,592 sqft
  • Baths : 2 full
Listing Agent

Exp Realty

Listing Agent's Description

Absolutely stunning single story home in the Ardiente community. This home has been upgraded extensively and features both a walled courtyard in the front and exterior covered patio with a outdoor fireplace and sunshades that can completely enclose the space or be left open. This home is an indoor/outdoor entertainer's dream! The spacious kitchen has custom cabinets, gorgeous upgraded granite counter-tops, pendant lighting and an intimate breakfast nook with beautiful windows that fill the room with airy light. The owners placed premium carpet in the bedrooms/den and tiles set on a diagonal in all other rooms. Both the front an exterior door have leadeded glass doors and the windows in the home have premium quality window coverings or plantain shutters throughout the home. Water Softnerer, Reverse Osmosis and Solar are installed on the property. This home also has the extended garage feature (2ft). Come see this home in person to fully appreciate all of it's unique characteristics.

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MARKET HIGHLIGHTS

  • 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)
  • 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)

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
 

$333,000$407,000$370,000

PURCHASE PRICE

$1,494$1,826$1,660

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,660
EXPENSES Loan Payment -$1,285
Property Tax -$276
Property Insurance -$58
Property Management Fees -$119
CASH FLOW
-$79

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.

$370,000

PROJECTED PRICE

$1,660

PROJECTED RENT

0.45%

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$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$1.4M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$103,800

INVESTMENT

$103,800

Down Payment
$92,500
Rehab Estimate
$5,750
Closing Costs
$5,550

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,285

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $92,500
Loan Amount $277,500
See What Happens When You Reinvest Cash Flow

4.33

YEARS SAVED

$14,807

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,660

    LIST RENT
  • $1.04

    LIST RENT PER SQFT
  • COMP ESTIMATED VALUE
  • COMP AVG. RENT PER SQFT
Comps Range
$1,660
1$1,660
$1,660
RENT COMPS ANALYSIS
  • 5656 Pinnacle Falls Street North Las Vegas, NV
    • 2 beds 2 baths ∙ 1,592 Sqft ∙ Built 2011 2 beds 2 baths ∙ 1,592 Sqft ∙ Built 2011
    • Rent
    • Rent Per SQFT
    •  
    • $1,660
    • $1.04
    •  
PROPERTY LISTING DETAILS
Keli L James
1.702.265.4323
Exp Realty
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2265544
Last Updated: 01/31/2021
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