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5906 Balsam Pine Drive Las Vegas, NV 89142

3 Beds 3 Baths 1,594 sqft Built 2004

$290,000

List Price

$1,380

$1.2K - $1.5K

Rent Est.

PROPERTY INFO

December 12, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2004
  • Price/Sqft : $181.93
  • 3 Days on Market
  • MLS # : 2255189
  • Updated Date : 12/12/2020 at 10:58
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,594 sqft
  • Baths : 2 full , 1 half
Listing Agent

Windermere Prestige Properties

Listing Agent's Description

This beautiful 2-story home, centrally located features 3 beds and 2.5 baths with a spacious backyard on the corner of a cul-de-sac. Den is located downstairs with street view, just across the way is the open area living room and kitchen. Upstairs you'll find the master bed, 2nd and 3rd bedroom as well as the loft. The master features a walk-in closet and double sink vanity.

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: Sunrise Manor

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260k280kPrice in $83k296k

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

Neighborhood: Sunrise Manor

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21000105011001150120012501300135014001450150015501600Rent in $9591603

* 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
John F. Mendoza Elementary School Primary Regular 831 35 3
Kathleen And Tim Harney Middle School Middle Regular 1,845 71 NA
Las Vegas High School High Regular 3,077 121 4

John F. Mendoza Elementary School

  • Education Level: Primary
  • # of students: 831
  • # of teachers: 35
3
GreatSchools Rating

Kathleen And Tim Harney Middle School

  • Education Level: Middle
  • # of students: 1,845
  • # of teachers: 71
NA
GreatSchools Rating

Las Vegas High School

  • Education Level: High
  • # of students: 3,077
  • # of teachers: 121
4
GreatSchools Rating
 

$261,000$319,000$290,000

PURCHASE PRICE

$1,242$1,518$1,380

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,380
EXPENSES Loan Payment -$1,070
Property Tax -$182
Property Insurance -$58
Property Management Fees -$119
CASH FLOW
-$49

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.

$290,000

PROJECTED PRICE

$1,380

PROJECTED RENT

0.48%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.75%
Appreciation Year (1-5) 12.8%
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$200k$400k$600k$800k$1.0M$1.2M

PROJECTED ANNUAL CASH FLOW

11530-$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$82,600

INVESTMENT

$82,600

Down Payment
$72,500
Rehab Estimate
$5,750
Closing Costs
$4,350

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 50% down payment or higher enables the proceeds from the asset to cover all costs.

$1,070

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $72,500
Loan Amount $217,500
See What Happens When You Reinvest Cash Flow

4.67

YEARS SAVED

$16,074

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,380

    LIST RENT
  • $0.87

    LIST RENT PER SQFT
  • $1,415

    COMP ESTIMATED VALUE
  • $0.89

    COMP AVG. RENT PER SQFT
Comps Range
$1,295
1$1,2952$1,3003$1,3504$1,3805$1,500
$1,500
RENT COMPS ANALYSIS
  • 5906 Balsam Pine Drive Las Vegas, NV 4
    • 3 beds 3 baths ∙ 1,594 Sqft ∙ Built 2004 3 beds 3 baths ∙ 1,594 Sqft ∙ Built 2004
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,380
    • $0.87
    •  
  • 5990 Emerald Canyon Drive #home Las Vegas, NV 1
    • 4 beds 3 baths ∙ 1,542 Sqft ∙ Built 1989 4 beds 3 baths ∙ 1,542 Sqft ∙ Built 1989
    property image
    LEASED 04/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,295
    • $0.84
    •  
  • 6170 East Sahara Avenue #1106 Las Vegas, NV 2
    • 3 beds 4 baths ∙ 1,396 Sqft ∙ Built 2005 3 beds 4 baths ∙ 1,396 Sqft ∙ Built 2005
    property image
    LEASED 11/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,300
    • $0.93
    •  
  • 2561 Rosy Sunrise Street #n/a Las Vegas, NV 3
    • 4 beds 2 baths ∙ 1,521 Sqft ∙ Built 2001 4 beds 2 baths ∙ 1,521 Sqft ∙ Built 2001
    property image
    LEASED 06/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,350
    • $0.89
    •  
  • 6202 Elderberry Wine Avenue Las Vegas, NV 5
    • 4 beds 1 baths ∙ 1,679 Sqft ∙ Built 1996 4 beds 1 baths ∙ 1,679 Sqft ∙ Built 1996
    property image
    LEASED 10/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $0.89
    •  
PROPERTY LISTING DETAILS
Hollykris Vergara
1.702.498.4740
Windermere Prestige Properties
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2255189
Last Updated: 12/12/2020
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