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PROPERTY INFO
FACTS
- Single Family
- Built In 2001
- Price/Sqft : $160.83
- 4 Days on Market
- MLS # : 2255021
- Updated Date : 12/11/2020 at 18:30
CONSTRUCTION
- Beds : 4
- Floor Size : 2,798 sqft
- Baths : 2 full , 1 half
Listing Agent
Elite Realty
Listing Agent's Description
One of a kind gorgeous house at cul de sac with no HOA rules and dues to worry about. Located just less than five minutes from the Las Vegas Strip and the Raiders Stadium, this beautiful home presents a great opportunity to owner occupant and investors alike. No HOA rental restriction to worry about. A beautifully maintained swimming pool with waterfall to keep you cool from Vegas summer heat. A large-sized side yard that can be converted in to RV parking, playground for your kids and adults or to build a storage area. Tile flooring on first floor and laminate flooring throughout second floor. A very large loft that can be converted in to a bedroom. Home is Freshly painted and upgraded with stainless steel appliances. This is a fantastic opportunity that will not last. Come and see and you will not be disappointed at this gorgeous house inside out.
SEE MORE
- 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: Spring Valley
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: Spring Valley
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $2,050 |
| EXPENSES | Loan Payment | -$1,660 |
| Property Tax | -$282 | |
| Property Insurance | -$81 | |
| Property Management Fees | -$119 | |
|
CASH FLOW
-$93
|
||
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.
$450,000
PROJECTED PRICE
$2,050
PROJECTED RENT
0.46%
PROJECTED RENT / PRICE RATIO
| Expense Inflation | 2.50% |
| Rental Growth Year (1-5) | 3.96% |
| Appreciation Year (1-5) | 9.9% |
| Maintenance Year (1-5) | 8.00% |
| Vacancy | 7.63% |
| 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
$125,000
LOAN DETAILS
$1,660
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 4.25% |
| Down Payment | $112,500 |
| Loan Amount | $337,500 |
4.92
YEARS SAVED
$26,617
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$2,050
LIST RENT -
$0.73
LIST RENT PER SQFT
-
$2,029
COMP ESTIMATED VALUE -
$0.72
COMP AVG. RENT PER SQFT
Comps Range
-
5663 Artesia Lake Court Las Vegas, NV 4
- 4 beds 3 baths ∙ 2,798 Sqft ∙ Built 2001 4 beds 3 baths ∙ 2,798 Sqft ∙ Built 2001
- Rent
- Rent Per SQFT
- $2,050
- $0.73
-
6072 Spring Ranch Parkway Las Vegas, NV 1
- 3 beds 3 baths ∙ 2,949 Sqft ∙ Built 1997 3 beds 3 baths ∙ 2,949 Sqft ∙ Built 1997
LEASED 07/15/20- Rent
- Rent Per SQFT
- $1,920
- $0.65
-
6018 Jobear Avenue Las Vegas, NV 2
- 4 beds 3 baths ∙ 2,798 Sqft ∙ Built 2002 4 beds 3 baths ∙ 2,798 Sqft ∙ Built 2002
LEASED 05/01/20- Rent
- Rent Per SQFT
- $1,950
- $0.70
-
5980 Jobear Las Vegas, NV 3
- 4 beds 3 baths ∙ 2,798 Sqft ∙ Built 2002 4 beds 3 baths ∙ 2,798 Sqft ∙ Built 2002
LEASED 05/11/20- Rent
- Rent Per SQFT
- $2,000
- $0.71
-
5651 Belgrano Vista Drive Las Vegas, NV 5
- 4 beds 3 baths ∙ 2,601 Sqft ∙ Built 2015 4 beds 3 baths ∙ 2,601 Sqft ∙ Built 2015
LEASED 09/21/20- Rent
- Rent Per SQFT
- $2,195
- $0.84
PROPERTY LISTING DETAILS
1.702.403.4548
Elite Realty
1.866.250.5610
Mynd Property Management
1453579
MLS #: 2255021
Last Updated: 12/11/2020
