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5683 Benevento Court Las Vegas, NV 89141

4 Beds 4 Baths 3,438 sqft Built 2003

$629,999

List Price

$2,490

$2.2K - $2.7K

Rent Est.

PROPERTY INFO

November 13, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2003
  • Price/Sqft : $183.25
  • 4 Days on Market
  • MLS # : 2248004
  • Updated Date : 11/13/2020 at 02:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 3,438 sqft
  • Baths : 3 full , 1 half
Listing Agent

Realty One Group, Inc

Listing Agent's Description

Awesome deal in the reputable guard gated Foothills community of Southern Highlands. Very large lot, beautiful terrace covered patio in the back yard and, yes, real green grass! Plantation shutters and custom touches throughout the home including mini bar, mud bench, and sliding barn yard door for the laundry room. Vaulted ceilings upon entry in formal living room, lots of natural light and a spacious open floorplan. Master bedroom is located downstairs with dual walk-in closets for him and her! This home has it all, office/den area, loft, 3 car garage, downstairs master, huge lot, mature landscaping, guard gated, and it's located on a cul-de-sac. There are 4 custom wall mounted acoustic panels (kitchen, loft, and the formal living room) that convey with the property. Private street within the subdivision behind the back wall so there is plenty of privacy. Mounted flat screen TV in the back yard stays! Well known top notch school district too!!

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MARKET HIGHLIGHTS

  • 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)
  • 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)

PRICE & RENT TRENDS

Neighborhood: Southern Highlands

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320k340k360k380k400kPrice in $119k410k

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

Neighborhood: Southern Highlands

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
Charles And Phyllis Frias Elementary School Primary Regular 802 41 10
Lois And Jerry Tarkanian Middle School Middle Regular 1,739 71 NA
Desert Oasis High School High Regular 2,417 102 5

Charles And Phyllis Frias Elementary School

  • Education Level: Primary
  • # of students: 802
  • # of teachers: 41
10
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
 

$566,999$692,999$629,999

PURCHASE PRICE

$2,241$2,739$2,490

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,490
EXPENSES Loan Payment -$2,324
Property Tax -$426
Property Insurance -$94
Property Management Fees -$119
CASH FLOW
-$473

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.

$629,999

PROJECTED PRICE

$2,490

PROJECTED RENT

0.40%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.05%
Appreciation Year (1-5) 8.0%
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$500k$1.0M$1.5M$2.0M

PROJECTED ANNUAL CASH FLOW

11530-$10k-$5.0k$0.0$5.0k$10k$15k$20k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$500k$1.0M$1.5M$2.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$172,700

INVESTMENT

$172,700

Down Payment
$157,500
Rehab Estimate
$5,750
Closing Costs
$9,450

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,324

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $157,500
Loan Amount $472,499
See What Happens When You Reinvest Cash Flow

2.25

YEARS SAVED

$11,760

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,490

    LIST RENT
  • $0.72

    LIST RENT PER SQFT
  • $2,561

    COMP ESTIMATED VALUE
  • $0.74

    COMP AVG. RENT PER SQFT
Comps Range
$2,395
1$2,3952$2,4003$2,4904$2,6005$2,800
$2,800
RENT COMPS ANALYSIS
  • 5683 Benevento Court Las Vegas, NV 3
    • 4 beds 4 baths ∙ 3,438 Sqft ∙ Built 2003 4 beds 4 baths ∙ 3,438 Sqft ∙ Built 2003
    • Rent
    • Rent Per SQFT
    •  
    • $2,490
    • $0.72
    •  
  • 9967 Pipestone Street Las Vegas, NV 1
    • 4 beds 3 baths ∙ 3,419 Sqft ∙ Built 2006 4 beds 3 baths ∙ 3,419 Sqft ∙ Built 2006
    LEASED 10/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,395
    • $0.70
    •  
  • 10728 Sleepy Mist Court Las Vegas, NV 2
    • 4 beds 3 baths ∙ 3,352 Sqft ∙ Built 2002 4 beds 3 baths ∙ 3,352 Sqft ∙ Built 2002
    LEASED 09/20/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,400
    • $0.72
    •  
  • 10685 Sidlaw Hills Court Las Vegas, NV 4
    • 5 beds 3 baths ∙ 3,205 Sqft ∙ Built 2002 5 beds 3 baths ∙ 3,205 Sqft ∙ Built 2002
    LEASED 07/02/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,600
    • $0.81
    •  
  • 5558 San Palazzo Court #1 Las Vegas, NV 5
    • 4 beds 5 baths ∙ 3,743 Sqft ∙ Built 2004 4 beds 5 baths ∙ 3,743 Sqft ∙ Built 2004
    LEASED 10/31/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,800
    • $0.75
    •  
PROPERTY LISTING DETAILS
Jennifer Cerny
1.702.461.5901
Realty One Group, Inc
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2248004
Last Updated: 11/13/2020
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