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5851 Ivy Vine Court Las Vegas, NV 89141

4 Beds 2 Baths 1,782 sqft Built 2002

INVESTimate

$375,000

List Price

$1,600

$1,440 - $1,760

Rent Est.

$404,812  ( +7.95%)   1 YR EST. FORECAST

PROPERTY INFO

August 21, 2020 RECENTLY ADDED
FACTS
  • Built In 2002
  • Price/Sqft : $210.44
  • 7 Days on Market
  • MLS # : 2223698
  • Updated Date : 08/21/2020 at 08:53
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,782 sqft
  • Baths : 2 full
Listing Agent

Gk Properties

Listing Agent's Description

Perfectly maintained single story home in gated Setona community in Southern Highlands. NO rear neighbors! Pride of ownership is apparent throughout this stunning property. Current owners have recently installed a newer AC system, artificial grass (front & rear), new water heater and custom security door. Inside you will find 4 generous bedrooms (one currently being used as a home office). Home also boasts 2 fireplaces Central Vac AND 3 car garage. Outdoors you will find a backyard oasis complete with hot tub and large covered patio. MUST BE VIEWED!

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • As the largest share, Las Vegas metro contributes to 75.1% of Nevada state's economy i.e. Gross State Product (USMayors.org, 2018)

PRICE & RENT TRENDS

Neighborhood: Southern Highlands

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320k340k360k380k400kPrice in $119k410k

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

Neighborhood: Southern Highlands

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
Charles And Phyllis Frias Elementary School Primary Regular 802 41 10
Lois And Jerry Tarkanian Middle School Middle Regular 1,739 71 NA
Desert Oasis High School High Regular 2,417 102 5

Charles And Phyllis Frias Elementary School

  • Education Level: Primary
  • # of students: 802
  • # of teachers: 41
10
GreatSchools Rating

Lois And Jerry Tarkanian Middle School

  • Education Level: Middle
  • # of students: 1,739
  • # of teachers: 71
NA
GreatSchools Rating

Desert Oasis High School

  • Education Level: High
  • # of students: 2,417
  • # of teachers: 102
5
GreatSchools Rating
 

$337,500$412,500$375,000

PURCHASE PRICE

$1,440$1,760$1,600

RENT

DOWN PAYMENT
FINANCING

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,600
EXPENSES Loan Payment -$1,384
Property Tax -$235
Property Insurance -$62
HOA -$30
Property Management Fees -$119
CASH FLOW
-$229

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.

$375,000

PROJECTED PRICE

$1,600

PROJECTED RENT

0.43%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.05%
Appreciation Year (1-5) 7.95%
Maintenance Year (1-5) 8.00%
Vacancy 7.57%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$105,125

INVESTMENT

$105,125

Down Payment
$93,750
Rehab Estimate
$5,750
Closing Costs
$5,625

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,384

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $93,750
Loan Amount $281,250
See What Happens When You Reinvest Cash Flow

3.08

YEARS SAVED

$10,512

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,600

    LIST RENT
  • $0.9

    LIST RENT PER SQFT
  • $1,559

    COMP ESTIMATED VALUE
  • $0.88

    COMP AVG. RENT PER SQFT
Comps Range
$1,550
1$1,5502$1,6003$1,6254$1,6905$1,695
$1,695
RENT COMPS ANALYSIS
  • 5851 Ivy Vine Court Las Vegas, NV 2
    • 4 beds 2 baths ∙ 1,782 Sqft ∙ Built 2002 4 beds 2 baths ∙ 1,782 Sqft ∙ Built 2002
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $0.90
    •  
  • 5987 Allanche Avenue Las Vegas, NV 1
    • 3 beds 3 baths ∙ 1,837 Sqft ∙ Built 2004 3 beds 3 baths ∙ 1,837 Sqft ∙ Built 2004
    LEASED 10/07/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $0.84
    •  
  • 10946 Salernes Street Las Vegas, NV 3
    • 3 beds 3 baths ∙ 1,930 Sqft ∙ Built 2001 3 beds 3 baths ∙ 1,930 Sqft ∙ Built 2001
    LEASED 01/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,625
    • $0.84
    •  
  • 6015 Allanche Avenue Las Vegas, NV 4
    • 3 beds 3 baths ∙ 1,855 Sqft ∙ Built 2004 3 beds 3 baths ∙ 1,855 Sqft ∙ Built 2004
    LEASED 10/20/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,690
    • $0.91
    •  
  • 10964 Salernes Las Vegas, NV 5
    • 3 beds 2 baths ∙ 1,858 Sqft ∙ Built 2001 3 beds 2 baths ∙ 1,858 Sqft ∙ Built 2001
    LEASED 04/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $0.91
    •  
PROPERTY LISTING DETAILS
Yvette Riggott
1.702.595.6065
Gk Properties
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2223698
Last Updated: 08/21/2020
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