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PROPERTY INFO
FACTS
- Single Family
- Built In 2004
- Price/Sqft : $139.58
- 4 Days on Market
- MLS # : 2254848
- Updated Date : 12/10/2020 at 15:32
CONSTRUCTION
- Beds : 3
- Floor Size : 2,006 sqft
- Baths : 2 full
Listing Agent
Omni -terra Solutions
Listing Agent's Description
THIS GREAT HOME IS LOCATED IN THE NORTH PART OF TOWN. HAS A 3 BEDROOM AND 2 AND HALF BATHROOMS WITH A 2 CAR GARAGE. OPEN AIRY FEELING THE MINUTE YOU WALK THROUGH THE FRONT DOOR. KITCHEN IS OPEN WITH A BREAKFAST BAR AND ELBOW ROOM TO COOK. COMMUNITY POOL AND PLAYGROUND WITH LUSH LANDSCAPING. CLOSE TO SCHOOLS, SHOPPING AND PARKS.
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: Maravilla
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: Maravilla
* 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 | -$1,033 |
| Property Tax | -$235 | |
| Property Insurance | -$66 | |
| Property Management Fees | -$119 | |
|
CASH FLOW
$47
|
||
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.
$280,000
PROJECTED PRICE
$1,500
PROJECTED RENT
0.54%
PROJECTED RENT / PRICE RATIO
| Expense Inflation | 2.50% |
| Rental Growth Year (1-5) | 3.96% |
| Appreciation Year (1-5) | 10.6% |
| 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
$79,950
LOAN DETAILS
$1,033
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 4.25% |
| Down Payment | $70,000 |
| Loan Amount | $210,000 |
6.58
YEARS SAVED
$25,999
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 -
$0.75
LIST RENT PER SQFT
-
$1,580
COMP ESTIMATED VALUE -
$0.79
COMP AVG. RENT PER SQFT
Comps Range
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- $1,445
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- Rent Per SQFT
- $1,495
- $0.75
-
5640 Mount Athos Street #na North Las Vegas, NV 3
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LEASED 05/29/20- Rent
- Rent Per SQFT
- $1,500
- $0.81
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4452 Oberlander Avenue North Las Vegas, NV 5
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LEASED 11/27/20- Rent
- Rent Per SQFT
- $1,650
- $0.85
PROPERTY LISTING DETAILS
1.702.203.2244
Omni -terra Solutions
1.866.250.5610
Mynd Property Management
1453579
MLS #: 2254848
Last Updated: 12/10/2020
