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5701 Partridge Bluff Street Las Vegas, NV 89130

3 Beds 1 Baths 1,960 sqft Built 1998

$344,900

List Price

$1,500

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

December 24, 2020 RECENTLY ADDED
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

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: North Cheyenne

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300kPrice in $119k302k

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

Neighborhood: North Cheyenne

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2105011001150120012501300135014001450150015501600Rent in $10011606

* 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
Kay Carl Elementary School Primary Regular 686 32 4
Anthony Saville Middle School Middle Regular 1,494 58 NA
Shadow Ridge High School High Regular 2,697 105 6

Kay Carl Elementary School

  • Education Level: Primary
  • # of students: 686
  • # of teachers: 32
4
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
 

$310,410$379,390$344,900

PURCHASE PRICE

$1,350$1,650$1,500

RENT

DOWN PAYMENT
FINANCING

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

ASSUMPTIONS

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
11530$0.0$200k$400k$600k$800k$1.0M$1.2M

PROJECTED ANNUAL CASH FLOW

11530-$5.0k$0.0$5.0k$10k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$97,149

INVESTMENT

$97,149

Down Payment
$86,225
Rehab Estimate
$5,750
Closing Costs
$5,174

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,273

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $86,225
Loan Amount $258,675
See What Happens When You Reinvest Cash Flow

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
$1,500
1$1,5002$1,5403$1,5504$1,6005$1,695
$1,695
RENT COMPS ANALYSIS
  • 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
    •  
  • 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
Robert E Jones
1.480.636.9175
Offerpad
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2257412
Last Updated: 12/23/2020
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