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591 Lacabana Beach Drive Las Vegas, NV 89138

3 Beds 3 Baths 2,530 sqft Built 2003

$474,900

List Price

$2,270

$2K - $2.5K

Rent Est.

PROPERTY INFO

November 21, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2003
  • Price/Sqft : $187.71
  • 3 Days on Market
  • MLS # : 2249839
  • Updated Date : 11/20/2020 at 18:39
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,530 sqft
  • Baths : 2 full , 1 half
Listing Agent

All Vegas Valley Realty

Listing Agent's Description

MOVE-IN READY! 3 bedrooms, 2.5 bath + den/office + Huge Loft in the Heart of Summerlin. Close to parks, recreation, Summerlin Centre. 2530 sq ft, 9' Ceilings, crown molding, cased windows. Kitchen Island, granite counter tops, Brand NEW stainless steel appliances. Smart technology HUB. Alarm system. Spacious living, family, loft areas. Upstairs primary bedroom-walk in closet-balcony-private bath-dual sinks, separate shower-spa tub. Oversized corner parcel, VERY private backyard, mature landscape-real grass. ALL NEW EXTERIOR Paint. SID PAID IN FULL! and SUPER CLEAN.

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: The Vistas

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450kPrice in $119k457k

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

Neighborhood: The Vistas

NeighborhoodNIR Market*CityMarket2010Year20002019 Q211001200130014001500160017001800190020002100Rent in $10762145

* 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
Linda Rankin Givens Elementary School Primary Regular 1,100 52 9
Sig Rogich Middle School Middle Regular 1,845 70 NA
Palo Verde High School High Regular 3,024 114 9

Linda Rankin Givens Elementary School

  • Education Level: Primary
  • # of students: 1,100
  • # of teachers: 52
9
GreatSchools Rating

Sig Rogich Middle School

  • Education Level: Middle
  • # of students: 1,845
  • # of teachers: 70
NA
GreatSchools Rating

Palo Verde High School

  • Education Level: High
  • # of students: 3,024
  • # of teachers: 114
9
GreatSchools Rating
 

$427,410$522,390$474,900

PURCHASE PRICE

$2,043$2,497$2,270

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,270
EXPENSES Loan Payment -$1,752
Property Tax -$313
Property Insurance -$76
Property Management Fees -$119
CASH FLOW
$9

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.

$474,900

PROJECTED PRICE

$2,270

PROJECTED RENT

0.48%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.05%
Appreciation Year (1-5) 6.9%
Maintenance Year (1-5) 8.00%
Vacancy 7.57%
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$1.6M

PROJECTED ANNUAL CASH FLOW

11530$0.0$5.0k$10k$15k$20k$25k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$131,599

INVESTMENT

$131,599

Down Payment
$118,725
Rehab Estimate
$5,750
Closing Costs
$7,124

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 45% down payment or higher enables the proceeds from the asset to cover all costs.

$1,752

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $118,725
Loan Amount $356,175
See What Happens When You Reinvest Cash Flow

6.17

YEARS SAVED

$39,370

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,270

    LIST RENT
  • $0.9

    LIST RENT PER SQFT
  • $2,334

    COMP ESTIMATED VALUE
  • $0.92

    COMP AVG. RENT PER SQFT
Comps Range
$1,950
1$1,9502$2,2503$2,2704$2,5005$2,595
$2,595
RENT COMPS ANALYSIS
  • 591 Lacabana Beach Drive Las Vegas, NV 3
    • 3 beds 3 baths ∙ 2,530 Sqft ∙ Built 2003 3 beds 3 baths ∙ 2,530 Sqft ∙ Built 2003
    • Rent
    • Rent Per SQFT
    •  
    • $2,270
    • $0.90
    •  
  • 544 Lacabana Beach Drive Las Vegas, NV 1
    • 4 beds 2 baths ∙ 2,530 Sqft ∙ Built 2003 4 beds 2 baths ∙ 2,530 Sqft ∙ Built 2003
    LEASED 03/25/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $0.77
    •  
  • 612 Delta Rio Street Las Vegas, NV 2
    • 4 beds 1 baths ∙ 2,461 Sqft ∙ Built 2004 4 beds 1 baths ∙ 2,461 Sqft ∙ Built 2004
    LEASED 09/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,250
    • $0.91
    •  
  • 544 Caribbean Palm Drive Las Vegas, NV 4
    • 3 beds 3 baths ∙ 2,530 Sqft ∙ Built 2003 3 beds 3 baths ∙ 2,530 Sqft ∙ Built 2003
    LEASED 11/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $0.99
    •  
  • 519 Las Ocas Court Las Vegas, NV 5
    • 4 beds 3 baths ∙ 2,548 Sqft ∙ Built 2006 4 beds 3 baths ∙ 2,548 Sqft ∙ Built 2006
    LEASED 03/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,595
    • $1.02
    •  
PROPERTY LISTING DETAILS
Cameron Deangelo
1.702.496.2121
All Vegas Valley Realty
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2249839
Last Updated: 11/20/2020
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