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PROPERTY INFO
FACTS
- Single Family
- Built In 1998
- Price/Sqft : $175.97
- 5 Days on Market
- MLS # : 2257412
- Updated Date : 12/23/2020 at 17:00
CONSTRUCTION
- Beds : 3
- Floor Size : 1,960 sqft
- Baths : 1 full
Listing Agent
Offerpad
Listing Agent's Description
Extraordinary 1-story home with NO HOA & a 3-car garage! NEW interior paint & UPDATED cabinets. This home features vaulted ceilings, an open floor plan & hard surface flooring thru out. Front living room & dining room. Separate family room w/gas fireplace. The kitchen features a breakfast nook & bar, island, SS appliances & NEW corian counters w/tile backsplash. Spacious master bedroom w/walk in closet. Ensuite bath w/2 sinks, tub & walk-in shower. Electrical & roof repairs. Backyard w/large patio area. Located near highway access, stores and restaurants. COME SEE TODAY!
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: North Cheyenne
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: North Cheyenne
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $1,500 |
| EXPENSES | Loan Payment | -$1,273 |
| Property Tax | -$242 | |
| Property Insurance | -$65 | |
| Property Management Fees | -$119 | |
|
CASH FLOW
-$198
|
||
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.
$344,900
PROJECTED PRICE
$1,500
PROJECTED RENT
0.43%
PROJECTED RENT / PRICE RATIO
| Expense Inflation | 2.50% |
| Rental Growth Year (1-5) | 3.96% |
| Appreciation Year (1-5) | 10.7% |
| 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
$97,149
LOAN DETAILS
$1,273
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 4.25% |
| Down Payment | $86,225 |
| Loan Amount | $258,675 |
3.17
YEARS SAVED
$10,206
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$1,500
LIST RENT -
$0.77
LIST RENT PER SQFT
-
$1,544
COMP ESTIMATED VALUE -
$0.79
COMP AVG. RENT PER SQFT
Comps Range
-
5701 Partridge Bluff Street Las Vegas, NV 1
- 3 beds 1 baths ∙ 1,960 Sqft ∙ Built 1998 3 beds 1 baths ∙ 1,960 Sqft ∙ Built 1998
- Rent
- Rent Per SQFT
- $1,500
- $0.77
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5100 Remini Las Vegas, NV 2
- 4 beds 3 baths ∙ 2,047 Sqft ∙ Built 2001 4 beds 3 baths ∙ 2,047 Sqft ∙ Built 2001
LEASED 05/01/20- Rent
- Rent Per SQFT
- $1,540
- $0.75
-
5712 Tropic Mist Street Las Vegas, NV 3
- 3 beds 2 baths ∙ 2,002 Sqft ∙ Built 1996 3 beds 2 baths ∙ 2,002 Sqft ∙ Built 1996
LEASED 05/30/20- Rent
- Rent Per SQFT
- $1,550
- $0.77
-
5328 Big Fawn Court Las Vegas, NV 4
- 4 beds 3 baths ∙ 2,086 Sqft ∙ Built 2000 4 beds 3 baths ∙ 2,086 Sqft ∙ Built 2000
LEASED 10/16/20- Rent
- Rent Per SQFT
- $1,600
- $0.77
-
5220 Backwoodsman Avenue Las Vegas, NV 5
- 3 beds 2 baths ∙ 1,960 Sqft ∙ Built 1999 3 beds 2 baths ∙ 1,960 Sqft ∙ Built 1999
LEASED 08/15/20- Rent
- Rent Per SQFT
- $1,695
- $0.86
PROPERTY LISTING DETAILS
1.480.636.9175
Offerpad
1.866.250.5610
Mynd Property Management
1453579
MLS #: 2257412
Last Updated: 12/23/2020
