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5829 Elphin Court North Las Vegas, NV 89031

4 Beds 3 Baths 2,283 sqft Built 2006

$329,950

List Price

$1,560

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

January 18, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2006
  • Price/Sqft : $144.52
  • 7 Days on Market
  • MLS # : 2261674
  • Updated Date : 01/22/2021 at 18:51
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,283 sqft
  • Baths : 3 full
Listing Agent

The Baird Group, Llc

Listing Agent's Description

WOW! SUPER BUY ON THIS 4 BED 2 BATH ONE STORY ON CUL DE SAC LOT WITH 3 CAR GARAGE! LIVING ROOM/FORMAL DINING COMBO; SEPARATE FAMILY ROOM OFF KITCHEN; VERY NICE KITCHEN WITH UPGRADED GRANITE COUNTER-TOPS AND TILE BACK SPLASH; ISLAND BAR; STAINLESS STEEL BUILT IN DOUBLE OVENS AND MICROWAVE; FRIDGE STAYS. OWNERS SUITE HAS WALK IN CLOSET; DUAL VANITY; SEPARATE TUB AND SHOWER; GLASS BLOCK WINDOW TO LET THE LIGHT IN; NICE SIZED 2ND AND 3RD BEDROOMS WITH MIRRORED CLOSET DOORS; BLINDS, PATIO.

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: Clayton el Campo Grande

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320kPrice in $110k335k

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

Neighborhood: Clayton el Campo Grande

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21000105011001150120012501300135014001450150015501600Rent in $9671606

* 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
Eva G. Simmons Elementary School Primary Regular 742 37 6
Brian And Teri Cram Middle School Middle Regular 1,568 65 NA
Legacy High School High Regular 2,819 119 3

Eva G. Simmons Elementary School

  • Education Level: Primary
  • # of students: 742
  • # of teachers: 37
6
GreatSchools Rating

Brian And Teri Cram Middle School

  • Education Level: Middle
  • # of students: 1,568
  • # of teachers: 65
NA
GreatSchools Rating

Legacy High School

  • Education Level: High
  • # of students: 2,819
  • # of teachers: 119
3
GreatSchools Rating
 

$296,955$362,945$329,950

PURCHASE PRICE

$1,404$1,716$1,560

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,560
EXPENSES Loan Payment -$1,146
Property Tax -$303
Property Insurance -$71
Property Management Fees -$119
CASH FLOW
-$80

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.

$329,950

PROJECTED PRICE

$1,560

PROJECTED RENT

0.47%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.96%
Appreciation Year (1-5) 10.8%
Maintenance Year (1-5) 8.00%
Vacancy 7.63%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$200k$400k$600k$800k$1.0M$1.2M

PROJECTED ANNUAL CASH FLOW

11530-$4.0k-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$93,187

INVESTMENT

$93,187

Down Payment
$82,488
Rehab Estimate
$5,750
Closing Costs
$4,949

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,146

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $82,488
Loan Amount $247,463
See What Happens When You Reinvest Cash Flow

4.33

YEARS SAVED

$13,799

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,560

    LIST RENT
  • $0.68

    LIST RENT PER SQFT
  • $1,615

    COMP ESTIMATED VALUE
  • $0.71

    COMP AVG. RENT PER SQFT
Comps Range
$1,560
1$1,5602$1,5953$1,6504$1,7005$1,700
$1,700
RENT COMPS ANALYSIS
  • 5829 Elphin Court North Las Vegas, NV 1
    • 4 beds 3 baths ∙ 2,283 Sqft ∙ Built 2006 4 beds 3 baths ∙ 2,283 Sqft ∙ Built 2006
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,560
    • $0.68
    •  
  • 5734 Bear Springs Street North Las Vegas, NV 2
    • 4 beds 3 baths ∙ 2,311 Sqft ∙ Built 2002 4 beds 3 baths ∙ 2,311 Sqft ∙ Built 2002
    property image
    LEASED 02/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $0.69
    •  
  • 1801 Running Fawn Court #na North Las Vegas, NV 3
    • 4 beds 3 baths ∙ 2,403 Sqft ∙ Built 2001 4 beds 3 baths ∙ 2,403 Sqft ∙ Built 2001
    property image
    LEASED 12/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.69
    •  
  • 1929 Caribou Creek Court North Las Vegas, NV 4
    • 4 beds 3 baths ∙ 2,403 Sqft ∙ Built 2003 4 beds 3 baths ∙ 2,403 Sqft ∙ Built 2003
    property image
    LEASED 08/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $0.71
    •  
  • 2128 Easedale Court North Las Vegas, NV 5
    • 3 beds 2 baths ∙ 2,283 Sqft ∙ Built 2006 3 beds 2 baths ∙ 2,283 Sqft ∙ Built 2006
    property image
    LEASED 12/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $0.74
    •  
PROPERTY LISTING DETAILS
Steven D Baird
1.702.592.9927
The Baird Group, Llc
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2261674
Last Updated: 01/22/2021
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