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58 Pristine Glen Street Las Vegas, NV 89135

4 Beds 3 Baths 4,172 sqft Built 2015

$1,799,000

List Price

$6,650

$6.4K - $6.9K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 13, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2015
  • Price/Sqft : $431.21
  • 2 Days on Market
  • MLS # : 2278186
  • Updated Date : 03/13/2021 at 19:29
CONSTRUCTION
  • Beds : 4
  • Floor Size : 4,172 sqft
  • Baths : 2 full , 1 half
Listing Agent

Simply Vegas

Listing Agent's Description

All you can say is "wow" this is a delightful home in the heart of The Ridges that has been finished to the very highest level. Carrara marble counter tops in the large kitchen that is also stacked with top-of-the-line appliances from Wolf and Sub-Zero. There is wood floor throughout the entire home. There's a huge master suite that features a balcony as well as one of the nicest master bathroom you will see. It features an enormous steam shower and is jammed full of rich Carrera marble. All of the secondary bedrooms are great sizes too and the secondary baths are also finished to a very high level. Outside you'll find a relaxing pool and spa as well as a large patio area. All in all a great house that is very sensibly priced.

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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)

PRICE & RENT TRENDS

Neighborhood: The Ridges

NeighborhoodNIR Market*CityMarket2010Year20002019200k400k600k800k1000k1200k1400k1600kPrice in $119k1710k

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

Neighborhood: The Ridges

NeighborhoodNIR Market*CityMarket2010Year20002019 Q22000300040005000600070008000Rent in $10768996

* 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
Judy And John Goolsby Elementary School Primary Regular 807 42 10
Victoria Fertitta Middle School Middle Regular 1,472 60 NA
Durango High School High Regular 2,302 95 5

Judy And John Goolsby Elementary School

  • Education Level: Primary
  • # of students: 807
  • # of teachers: 42
10
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
 

$1,619,100$1,978,900$1,799,000

PURCHASE PRICE

$5,985$7,315$6,650

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $6,650
EXPENSES Loan Payment -$6,249
Property Tax -$1,055
Property Insurance -$108
Property Management Fees -$119
CASH FLOW
-$881

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.

$1,799,000

PROJECTED PRICE

$6,650

PROJECTED RENT

0.37%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.75%
Appreciation Year (1-5) 1.8%
Maintenance Year (1-5) 8.00%
Vacancy 7.56%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$1.0M$2.0M$3.0M$4.0M

PROJECTED ANNUAL CASH FLOW

11530-$20k$0.0$20k$40k$60k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$500k$1.0M$1.5M$2.0M$2.5M$3.0M$3.5M$4.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$482,485

INVESTMENT

$482,485

Down Payment
$449,750
Rehab Estimate
$5,750
Closing Costs
$26,985

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$6,249

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $449,750
Loan Amount $1,349,250
See What Happens When You Reinvest Cash Flow

3.67

YEARS SAVED

$62,634

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $6,650

    LIST RENT
  • $1.59

    LIST RENT PER SQFT
  • $4,235

    COMP ESTIMATED VALUE
  • $1.02

    COMP AVG. RENT PER SQFT
Comps Range
$4,200
1$4,2002$4,5003$6,650
$6,650
RENT COMPS ANALYSIS
  • 58 Pristine Glen Street Las Vegas, NV 3
    • 4 beds 3 baths ∙ 4,172 Sqft ∙ Built 2015 4 beds 3 baths ∙ 4,172 Sqft ∙ Built 2015
    • Rent
    • Rent Per SQFT
    •  
    • $6,650
    • $1.59
    •  
  • 9672 Camino Capistrano Lane Las Vegas, NV 1
    • 5 beds 3 baths ∙ 4,436 Sqft ∙ Built 1998 5 beds 3 baths ∙ 4,436 Sqft ∙ Built 1998
    LEASED 02/07/21
    • Rent
    • Rent Per SQFT
    •  
    • $4,200
    • $0.95
    •  
  • 72 Grey Feather Las Vegas, NV 2
    • 4 beds 3 baths ∙ 4,172 Sqft ∙ Built 2016 4 beds 3 baths ∙ 4,172 Sqft ∙ Built 2016
    LEASED 08/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $4,500
    • $1.08
    •  
PROPERTY LISTING DETAILS
Gavin Ernstone
1.702.523.3677
Simply Vegas
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2278186
Last Updated: 03/13/2021
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