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5801 Paseo Del Mar Las Vegas, NV 89108

3 Beds 3 Baths 2,347 sqft Built 1987

$649,000

List Price

$1,800

$1.6K - $2K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 17, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1987
  • Price/Sqft : $276.52
  • 5 Days on Market
  • MLS # : 2279350
  • Updated Date : 03/18/2021 at 18:23
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,347 sqft
  • Baths : 2 full , 1 half
Listing Agent

Realty One Group, Inc

Listing Agent's Description

Lovely two-story home meticulously cared for with 3 car garage and RV parking space! No HOA! This 2,347 sq-ft home features 3 bdrms, 3 bthrms with extra large pool and spa on oversized, heavily upgraded lot. Spacious living room and formal dining room with French doors that open to side courtyard with secluded exterior fire place. Kitchen and breakfast bar and dining area, lg sliding doors provide view and access to outdoor covered patio with tranquil koi pond and water feature. Family room with fireplace which opens into the den with French doors to side patio. Primary bedroom features high ceilings, fireplace, walk-in closet, and covered balcony with view of picturesque backyard. Spectacular resort style backyard features covered built-in BBQ with dining and entertaining area, koi pond, extra large pool and spa surrounded by a lush, landscaped yard. Den can translate into fourth bdrm.

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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

Zip Code: 89108

ZipNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260k280kPrice in $83k296k

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

Zip Code: 89108

ZipNIR Market*CityMarket2010Year20002019 Q29501000105011001150120012501300135014001450150015501600Rent in $9121603

* 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
Doris M. Reed Elementary School Primary Regular 564 31 1
Irwin And Susan Molasky Junior High School Middle Regular 1,131 50 NA
Cimarron Memorial High School High Regular 2,541 102 3

Doris M. Reed Elementary School

  • Education Level: Primary
  • # of students: 564
  • # of teachers: 31
1
GreatSchools Rating

Irwin And Susan Molasky Junior High School

  • Education Level: Middle
  • # of students: 1,131
  • # of teachers: 50
NA
GreatSchools Rating

Cimarron Memorial High School

  • Education Level: High
  • # of students: 2,541
  • # of teachers: 102
3
GreatSchools Rating
 

$584,100$713,900$649,000

PURCHASE PRICE

$1,620$1,980$1,800

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,800
EXPENSES Loan Payment -$2,254
Property Tax -$234
Property Insurance -$73
Property Management Fees -$119
CASH FLOW
-$880

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 17% of earned rent to cover both maintenance and periods of vacancy.

$649,000

PROJECTED PRICE

$1,800

PROJECTED RENT

0.28%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.75%
Appreciation Year (1-5) 11.7%
Maintenance Year (1-5) 8.00%
Vacancy 8.50%
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$2.5M

PROJECTED ANNUAL CASH FLOW

11530-$15k-$10k-$5.0k$0.0$5.0k$10k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$177,735

INVESTMENT

$177,735

Down Payment
$162,250
Rehab Estimate
$5,750
Closing Costs
$9,735

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 70% down payment or higher enables the proceeds from the asset to cover all costs.

$2,254

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $162,250
Loan Amount $486,750
See What Happens When You Reinvest Cash Flow

0.25

YEARS SAVED

$188

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,800

    LIST RENT
  • $0.77

    LIST RENT PER SQFT
  • $1,637

    COMP ESTIMATED VALUE
  • $0.7

    COMP AVG. RENT PER SQFT
Comps Range
$1,500
1$1,5002$1,5503$1,6954$1,6955$1,800
$1,800
RENT COMPS ANALYSIS
  • 5801 Paseo Del Mar Las Vegas, NV 5
    • 3 beds 3 baths ∙ 2,347 Sqft ∙ Built 1987 3 beds 3 baths ∙ 2,347 Sqft ∙ Built 1987
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $0.77
    •  
  • 3425 Golden Sage Drive #0 North Las Vegas, NV 1
    • 4 beds 3 baths ∙ 2,107 Sqft ∙ Built 1995 4 beds 3 baths ∙ 2,107 Sqft ∙ Built 1995
    LEASED 09/27/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $0.71
    •  
  • 3516 Calf Roper Court North Las Vegas, NV 2
    • 3 beds 2 baths ∙ 2,275 Sqft ∙ Built 1997 3 beds 2 baths ∙ 2,275 Sqft ∙ Built 1997
    LEASED 09/26/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $0.68
    •  
  • 6565 Avon Court Las Vegas, NV 3
    • 4 beds 3 baths ∙ 2,407 Sqft ∙ Built 1988 4 beds 3 baths ∙ 2,407 Sqft ∙ Built 1988
    LEASED 10/17/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $0.70
    •  
  • 4405 Sparta Way North Las Vegas, NV 4
    • 4 beds 3 baths ∙ 2,431 Sqft ∙ Built 1991 4 beds 3 baths ∙ 2,431 Sqft ∙ Built 1991
    LEASED 11/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $0.70
    •  
PROPERTY LISTING DETAILS
Kriston L Manz
1.702.379.3573
Realty One Group, Inc
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2279350
Last Updated: 03/18/2021
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