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5735 Kevin Way Las Vegas, NV 89149

4 Beds 3 Baths 2,844 sqft Built 2008

$625,000

List Price

$2,340

$2.1K - $2.6K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 20, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2008
  • Price/Sqft : $219.76
  • 4 Days on Market
  • MLS # : 2279779
  • Updated Date : 03/20/2021 at 19:08
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,844 sqft
  • Baths : 2 full , 1 half
Listing Agent

Las Vegas Realty Llc

Listing Agent's Description

If you are looking for an amazing opportunity for a custom home with a spacious casita in the North West, then you need not look further. This well maintained home is bright, open and ready for you!! Courtyard entry to spacious living room which adjoins gourmet kitchen and dining area. Owner Suite is large with attached full bath. Home also has an uncommon casita!!! Inground pool for those hot summer days! Don't miss this one of a kind home.

SEE MORE

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: Centennial Hills

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320k340k360kPrice in $119k362k

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

Neighborhood: Centennial Hills

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
Marshall C. Darnell Elementary School Primary Regular 793 40 6
Edmundo Eddie Escobedo Sr Middle School Middle Regular 1,171 47 NA
Centennial High School High Regular 3,055 124 6

Marshall C. Darnell Elementary School

  • Education Level: Primary
  • # of students: 793
  • # of teachers: 40
6
GreatSchools Rating

Edmundo Eddie Escobedo Sr Middle School

  • Education Level: Middle
  • # of students: 1,171
  • # of teachers: 47
NA
GreatSchools Rating

Centennial High School

  • Education Level: High
  • # of students: 3,055
  • # of teachers: 124
6
GreatSchools Rating
 

$562,500$687,500$625,000

PURCHASE PRICE

$2,106$2,574$2,340

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,340
EXPENSES Loan Payment -$2,171
Property Tax -$521
Property Insurance -$82
Property Management Fees -$119
CASH FLOW
-$553

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.

$625,000

PROJECTED PRICE

$2,340

PROJECTED RENT

0.37%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.05%
Appreciation Year (1-5) 10.3%
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

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$171,375

INVESTMENT

$171,375

Down Payment
$156,250
Rehab Estimate
$5,750
Closing Costs
$9,375

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 65% down payment or higher enables the proceeds from the asset to cover all costs.

$2,171

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $156,250
Loan Amount $468,750
See What Happens When You Reinvest Cash Flow

1.42

YEARS SAVED

$4,687

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,340

    LIST RENT
  • $0.82

    LIST RENT PER SQFT
  • $2,033

    COMP ESTIMATED VALUE
  • $0.72

    COMP AVG. RENT PER SQFT
Comps Range
$1,950
1$1,9502$2,2803$2,2954$2,3405$2,495
$2,495
RENT COMPS ANALYSIS
  • 5735 Kevin Way Las Vegas, NV 4
    • 4 beds 3 baths ∙ 2,844 Sqft ∙ Built 2008 4 beds 3 baths ∙ 2,844 Sqft ∙ Built 2008
    • Rent
    • Rent Per SQFT
    •  
    • $2,340
    • $0.82
    •  
  • 6509 Alpine Winter Court Las Vegas, NV 1
    • 5 beds 2 baths ∙ 3,165 Sqft ∙ Built 2000 5 beds 2 baths ∙ 3,165 Sqft ∙ Built 2000
    LEASED 11/06/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $0.62
    •  
  • 8321 Fawn Meadow Avenue Las Vegas, NV 2
    • 4 beds 3 baths ∙ 3,107 Sqft ∙ Built 1999 4 beds 3 baths ∙ 3,107 Sqft ∙ Built 1999
    LEASED 04/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,280
    • $0.73
    •  
  • 8228 Fawn Brook Court Las Vegas, NV 3
    • 5 beds 3 baths ∙ 3,165 Sqft ∙ Built 1998 5 beds 3 baths ∙ 3,165 Sqft ∙ Built 1998
    LEASED 09/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,295
    • $0.73
    •  
  • 8232 Deer Springs Way Las Vegas, NV 5
    • 4 beds 3 baths ∙ 3,184 Sqft ∙ Built 1998 4 beds 3 baths ∙ 3,184 Sqft ∙ Built 1998
    LEASED 02/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,495
    • $0.78
    •  
PROPERTY LISTING DETAILS
John A Fleckenstein
1.702.493.5498
Las Vegas Realty Llc
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2279779
Last Updated: 03/20/2021
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