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5684 Fairlight Drive Las Vegas, NV 89142

3 Beds 2 Baths 1,202 sqft Built 1990

$240,000

List Price

$1,060

$954 - $1.2K

Rent Est.

PROPERTY INFO

FACTS
  • Built In 1990
  • Price/Sqft : $199.67
  • 13 Days on Market
  • MLS # : 2241750
  • Updated Date : 10/28/2020 at 12:59
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,202 sqft
  • Baths : 2 full
Listing Agent

Realty One Group, Inc

Listing Agent's Description

VERY NICE SINGLE STORY HOUSE WITH 3 BEDROOM 2 FULL BATH. CERAMIC FLOORING. VAULTED CEILINGS.NICE SIZE YARD WITH COVER PATIO.

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MARKET HIGHLIGHTS

  • 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)
  • 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)

PRICE & RENT TRENDS

Neighborhood: Sunrise Manor

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260k280kPrice in $83k296k

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

Neighborhood: Sunrise Manor

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21000105011001150120012501300135014001450150015501600Rent in $9591603

* 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
John F. Mendoza Elementary School Primary Regular 831 35 3
Duane Keller Middle School Middle Regular 1,257 56 NA
Las Vegas High School High Regular 3,077 121 4

John F. Mendoza Elementary School

  • Education Level: Primary
  • # of students: 831
  • # of teachers: 35
3
GreatSchools Rating

Duane Keller Middle School

  • Education Level: Middle
  • # of students: 1,257
  • # of teachers: 56
NA
GreatSchools Rating

Las Vegas High School

  • Education Level: High
  • # of students: 3,077
  • # of teachers: 121
4
GreatSchools Rating
 

$216,000$264,000$240,000

PURCHASE PRICE

$954$1,166$1,060

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,060
EXPENSES Loan Payment -$886
Property Tax -$120
Property Insurance -$51
Property Management Fees -$119
CASH FLOW
-$115

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.

$240,000

PROJECTED PRICE

$1,060

PROJECTED RENT

0.44%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.75%
Appreciation Year (1-5) 12.8%
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

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$69,350

INVESTMENT

$69,350

Down Payment
$60,000
Rehab Estimate
$5,750
Closing Costs
$3,600

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$886

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $60,000
Loan Amount $180,000
See What Happens When You Reinvest Cash Flow

3.42

YEARS SAVED

$8,094

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,060

    LIST RENT
  • $0.88

    LIST RENT PER SQFT
  • $1,058

    COMP ESTIMATED VALUE
  • $0.88

    COMP AVG. RENT PER SQFT
Comps Range
$1,060
1$1,0602$1,1003$1,1004$1,1005$1,195
$1,195
RENT COMPS ANALYSIS
  • 5684 Fairlight Drive Las Vegas, NV 1
    • 3 beds 2 baths ∙ 1,202 Sqft ∙ Built 1990 3 beds 2 baths ∙ 1,202 Sqft ∙ Built 1990
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,060
    • $0.88
    •  
  • 5655 Sahara Avenue #2012 Las Vegas, NV 2
    • 3 beds 2 baths ∙ 1,299 Sqft ∙ Built 2001 3 beds 2 baths ∙ 1,299 Sqft ∙ Built 2001
    property image
    LEASED 11/11/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,100
    • $0.85
    •  
  • 5650 Sahara Avenue #2049 Las Vegas, NV 3
    • 3 beds 2 baths ∙ 1,299 Sqft ∙ Built 2002 3 beds 2 baths ∙ 1,299 Sqft ∙ Built 2002
    property image
    LEASED 03/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,100
    • $0.85
    •  
  • 1300 Arlington Street #202 Las Vegas, NV 4
    • 3 beds 2 baths ∙ 1,228 Sqft ∙ Built 1998 3 beds 2 baths ∙ 1,228 Sqft ∙ Built 1998
    property image
    LEASED 03/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,100
    • $0.90
    •  
  • 1262 Orange Meadow Street Las Vegas, NV 5
    • 3 beds 3 baths ∙ 1,294 Sqft ∙ Built 2003 3 beds 3 baths ∙ 1,294 Sqft ∙ Built 2003
    property image
    LEASED 07/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,195
    • $0.92
    •  
PROPERTY LISTING DETAILS
Claudia Johnson
1.702.210.7353
Realty One Group, Inc
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2241750
Last Updated: 10/28/2020
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