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5867 Sleepy Willow Street Las Vegas, NV 89148

3 Beds 3 Baths 2,129 sqft Built 2016

$360,000

List Price

$1,670

$1.5K - $1.8K

Rent Est.

PROPERTY INFO

November 04, 2020 RECENTLY ADDED
FACTS
  • Built In 2016
  • Price/Sqft : $169.09
  • 5 Days on Market
  • MLS # : 2244664
  • Updated Date : 11/06/2020 at 11:24
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,129 sqft
  • Baths : 2 full , 1 half
Listing Agent

The Zhu Realty Group, Llc

Listing Agent's Description

Highly Upgraded Home in SW Great Location, Conveniently access to everywhere. Home Situated in the Gated Community, Next to Community Pool with Great Pool View from Upstair Loft. *Home Features 24” Ceramic Tiles Main Living Areas, 42” Maple Cabinetry, Granite CounterTops with Glass Black-splash, 2” Faux Wood Blinds, A Walk-in Spa Shower, Open “Mission” Style Stair Rail, Prewire Though-out, Ceiling Fan and Lights in Two bedrooms. G.E S/S Appliances, Washer & Dryer All Included!* Tankless Water Heater, Covered Patio and Much More!* Front-yard Landscaping Maintenance by RidgeHaven Community.

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: Southern Terrace

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320kPrice in $119k329k

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

Neighborhood: Southern Terrace

NeighborhoodNIR Market*CityMarket2010Year20002019 Q210001100120013001400150016001700Rent in $9691735

* 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
Lucille Rogers Elementary School Primary Regular 775 43 9
Victoria Fertitta Middle School Middle Regular 1,472 60 NA
Durango High School High Regular 2,302 95 5

Lucille Rogers Elementary School

  • Education Level: Primary
  • # of students: 775
  • # of teachers: 43
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
 

$324,000$396,000$360,000

PURCHASE PRICE

$1,503$1,837$1,670

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,670
EXPENSES Loan Payment -$1,328
Property Tax -$291
Property Insurance -$68
Property Management Fees -$119
CASH FLOW
-$137

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.

$360,000

PROJECTED PRICE

$1,670

PROJECTED RENT

0.46%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.96%
Appreciation Year (1-5) 10.4%
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$1.4M

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$101,150

INVESTMENT

$101,150

Down Payment
$90,000
Rehab Estimate
$5,750
Closing Costs
$5,400

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,328

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $90,000
Loan Amount $270,000
See What Happens When You Reinvest Cash Flow

3.92

YEARS SAVED

$15,410

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,670

    LIST RENT
  • $0.78

    LIST RENT PER SQFT
  • $1,794

    COMP ESTIMATED VALUE
  • $0.84

    COMP AVG. RENT PER SQFT
Comps Range
$1,575
1$1,5752$1,6703$1,7004$1,8005$1,885
$1,885
RENT COMPS ANALYSIS
  • 5867 Sleepy Willow Street Las Vegas, NV 2
    • 3 beds 3 baths ∙ 2,129 Sqft ∙ Built 2016 3 beds 3 baths ∙ 2,129 Sqft ∙ Built 2016
    • Rent
    • Rent Per SQFT
    •  
    • $1,670
    • $0.78
    •  
  • 5932 Poplar Tree Las Vegas, NV 1
    • 4 beds 3 baths ∙ 2,070 Sqft ∙ Built 2003 4 beds 3 baths ∙ 2,070 Sqft ∙ Built 2003
    LEASED 07/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,575
    • $0.76
    •  
  • 9536 Green Vineyard Avenue Las Vegas, NV 3
    • 4 beds 2 baths ∙ 2,144 Sqft ∙ Built 2003 4 beds 2 baths ∙ 2,144 Sqft ∙ Built 2003
    LEASED 08/25/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $0.79
    •  
  • 5856 Sleepy Willow Las Vegas, NV 4
    • 3 beds 3 baths ∙ 2,129 Sqft ∙ Built 2016 3 beds 3 baths ∙ 2,129 Sqft ∙ Built 2016
    LEASED 06/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $0.85
    •  
  • 9519 Green Vineyard Avenue Las Vegas, NV 5
    • 4 beds 3 baths ∙ 1,952 Sqft ∙ Built 2003 4 beds 3 baths ∙ 1,952 Sqft ∙ Built 2003
    LEASED 02/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,885
    • $0.97
    •  
PROPERTY LISTING DETAILS
Miaojun Zhu
1.702.353.0233
The Zhu Realty Group, Llc
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2244664
Last Updated: 11/06/2020
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