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5664 Bishop Flowers Street Las Vegas, NV 89130

3 Beds 3 Baths 1,596 sqft Built 2015

$310,222

List Price

$1,380

$1.2K - $1.5K

Rent Est.

PROPERTY INFO

November 04, 2020 RECENTLY ADDED
FACTS
  • Built In 2015
  • Price/Sqft : $194.37
  • 8 Days on Market
  • MLS # : 2244577
  • Updated Date : 11/04/2020 at 14:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,596 sqft
  • Baths : 2 full , 1 half
Listing Agent

Premier Property Management Co

Listing Agent's Description

This Beautifully Upgraded 2 story, 3 bed / 2.5 Bath house has a wonderful open floor plan that you will fall in love with as soon as you walk into the door! Kitchen features: Granite Counter Tops, nice size island that can be used as a breakfast bar. All 3 bedrooms are very inviting and located upstairs w/ ceiling fans. Backyard has a wonderful Stone Patio! Tile throughout the house & carpet inside all rooms. Downstairs Laundry Room, 2 Car Garage & H20 Softener! Owner did Lots of Upgrades to this Very Nice Home! This house is move in ready, make sure you see this house before it is gone!!

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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: Centennial Hills

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320k340k360kPrice in $119k362k

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

Neighborhood: Centennial Hills

NeighborhoodNIR Market*CityMarket2010Year20002019 Q211001200130014001500160017001800Rent in $10761875

* 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
Joseph Neal Steam Academy Primary Regular 688 34 5
Anthony Saville Middle School Middle Regular 1,494 58 NA
Shadow Ridge High School High Regular 2,697 105 6

Joseph Neal Steam Academy

  • Education Level: Primary
  • # of students: 688
  • # of teachers: 34
5
GreatSchools Rating

Anthony Saville Middle School

  • Education Level: Middle
  • # of students: 1,494
  • # of teachers: 58
NA
GreatSchools Rating

Shadow Ridge High School

  • Education Level: High
  • # of students: 2,697
  • # of teachers: 105
6
GreatSchools Rating
 

$279,200$341,244$310,222

PURCHASE PRICE

$1,242$1,518$1,380

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,380
EXPENSES Loan Payment -$1,145
Property Tax -$246
Property Insurance -$58
Property Management Fees -$119
CASH FLOW
-$188

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.

$310,222

PROJECTED PRICE

$1,380

PROJECTED RENT

0.44%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.05%
Appreciation Year (1-5) 10.3%
Maintenance Year (1-5) 8.00%
Vacancy 7.57%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$200k$400k$600k$800k$1.0M

PROJECTED ANNUAL CASH FLOW

11530-$4.0k-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$87,959

INVESTMENT

$87,959

Down Payment
$77,556
Rehab Estimate
$5,750
Closing Costs
$4,653

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 60% down payment or higher enables the proceeds from the asset to cover all costs.

$1,145

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $77,556
Loan Amount $232,667
See What Happens When You Reinvest Cash Flow

3.08

YEARS SAVED

$8,744

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,380

    LIST RENT
  • $0.86

    LIST RENT PER SQFT
  • $1,393

    COMP ESTIMATED VALUE
  • $0.87

    COMP AVG. RENT PER SQFT
Comps Range
$1,375
1$1,3752$1,3803$1,4004$1,4505$1,575
$1,575
RENT COMPS ANALYSIS
  • 5664 Bishop Flowers Street Las Vegas, NV 2
    • 3 beds 3 baths ∙ 1,596 Sqft ∙ Built 2015 3 beds 3 baths ∙ 1,596 Sqft ∙ Built 2015
    • Rent
    • Rent Per SQFT
    •  
    • $1,380
    • $0.86
    •  
  • 5820 Silver Heights Street #0 Las Vegas, NV 1
    • 3 beds 2 baths ∙ 1,580 Sqft ∙ Built 1996 3 beds 2 baths ∙ 1,580 Sqft ∙ Built 1996
    LEASED 04/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,375
    • $0.87
    •  
  • 6932 White Lakes Avenue Las Vegas, NV 3
    • 3 beds 3 baths ∙ 1,557 Sqft ∙ Built 1995 3 beds 3 baths ∙ 1,557 Sqft ∙ Built 1995
    LEASED 10/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,400
    • $0.90
    •  
  • 6818 Briarwood Bend Avenue #0 Las Vegas, NV 4
    • 3 beds 3 baths ∙ 1,740 Sqft ∙ Built 2009 3 beds 3 baths ∙ 1,740 Sqft ∙ Built 2009
    LEASED 12/16/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $0.83
    •  
  • 5619 Bishop Flowers Street Las Vegas, NV 5
    • 3 beds 3 baths ∙ 1,764 Sqft ∙ Built 2014 3 beds 3 baths ∙ 1,764 Sqft ∙ Built 2014
    LEASED 09/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,575
    • $0.89
    •  
PROPERTY LISTING DETAILS
Christopher R Page
1.702.210.9993
Premier Property Management Co
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2244577
Last Updated: 11/04/2020
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