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5774 Mesa Mountain Drive Las Vegas, NV 89135

3 Beds 3 Baths 2,513 sqft Built 2013

$625,000

List Price

$2,410

$2.2K - $2.7K

Rent Est.

PROPERTY INFO

January 27, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2013
  • Price/Sqft : $248.71
  • 5 Days on Market
  • MLS # : 2264115
  • Updated Date : 01/28/2021 at 20:08
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,513 sqft
  • Baths : 2 full , 1 half
Listing Agent

Simply Vegas

Listing Agent's Description

An amazing opportunity to own a home in the coveted Summerlin South neighborhood of Amado in the Mesa. This home is an immaculate 3 Bed 2.5 Bath 2,516 sq/ft property with sweeping views of both the city/strip and the mountains. The owners have taken pristine care of the home and the property is full of upgrades. Some of the many features include a bonus den with a murphy bed, an upstairs loft with mountain views, surround sound in the large family room, a built-in wine fridge in the kitchen, a large pantry, a finished laundry room, custom finished closets, a balcony off the primary bedroom with strip views, and a mature, beautifully landscaped backyard with a covered patio and LED landscape lighting throughout. The neighborhood boasts a community pool, park and playground and is surrounded by both Summerlin trails/parks and county trails that connect to the mountains and miles of hiking and biking trails with your own key to get access to the canyon. This property will not last!

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: The Mesa

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450kPrice in $119k472k

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

Neighborhood: The Mesa

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21100120013001400150016001700180019002000210022002300Rent in $10762305

* 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
Kathy L. Batterman Elementary School Primary Regular 910 47 9
Victoria Fertitta Middle School Middle Regular 1,472 60 NA
Durango High School High Regular 2,302 95 5

Kathy L. Batterman Elementary School

  • Education Level: Primary
  • # of students: 910
  • # of teachers: 47
9
GreatSchools Rating

Victoria Fertitta Middle School

  • Education Level: Middle
  • # of students: 1,472
  • # of teachers: 60
NA
GreatSchools Rating

Durango High School

  • Education Level: High
  • # of students: 2,302
  • # of teachers: 95
5
GreatSchools Rating
 

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

PURCHASE PRICE

$2,169$2,651$2,410

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,410
EXPENSES Loan Payment -$2,171
Property Tax -$348
Property Insurance -$76
Property Management Fees -$119
CASH FLOW
-$303

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

$2,410

PROJECTED RENT

0.39%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.05%
Appreciation Year (1-5) 7.7%
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-$5.0k$0.0$5.0k$10k$15k$20k$25k

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 55% 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

3.42

YEARS SAVED

$18,227

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,410

    LIST RENT
  • $0.96

    LIST RENT PER SQFT
  • $2,469

    COMP ESTIMATED VALUE
  • $0.98

    COMP AVG. RENT PER SQFT
Comps Range
$2,200
1$2,2002$2,3503$2,4004$2,4105$2,800
$2,800
RENT COMPS ANALYSIS
  • 5774 Mesa Mountain Drive Las Vegas, NV 4
    • 3 beds 3 baths ∙ 2,513 Sqft ∙ Built 2013 3 beds 3 baths ∙ 2,513 Sqft ∙ Built 2013
    • Rent
    • Rent Per SQFT
    •  
    • $2,410
    • $0.96
    •  
  • 10522 Tranquil Glade Lane #0 Las Vegas, NV 1
    • 4 beds 2 baths ∙ 2,389 Sqft ∙ Built 2013 4 beds 2 baths ∙ 2,389 Sqft ∙ Built 2013
    LEASED 07/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $0.92
    •  
  • 10456 Lyric Arbor Drive #a Las Vegas, NV 2
    • 4 beds 3 baths ∙ 2,365 Sqft ∙ Built 2007 4 beds 3 baths ∙ 2,365 Sqft ∙ Built 2007
    LEASED 12/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,350
    • $0.99
    •  
  • 10474 Lyric Arbor Drive Las Vegas, NV 3
    • 4 beds 3 baths ∙ 2,593 Sqft ∙ Built 2008 4 beds 3 baths ∙ 2,593 Sqft ∙ Built 2008
    LEASED 10/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,400
    • $0.93
    •  
  • 5787 Mesa Mountain Drive Las Vegas, NV 5
    • 4 beds 4 baths ∙ 2,573 Sqft ∙ Built 2013 4 beds 4 baths ∙ 2,573 Sqft ∙ Built 2013
    LEASED 10/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,800
    • $1.09
    •  
PROPERTY LISTING DETAILS
Brendan J King
1.702.623.3259
Simply Vegas
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2264115
Last Updated: 01/28/2021
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