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5912 Lady Carolina Street North Las Vegas, NV 89081

3 Beds 2 Baths 1,650 sqft Built 2006

INVESTimate

$299,000

List Price

$1,420

$1,278 - $1,562

Rent Est.

$327,973  ( +9.69%)   1 YR EST. FORECAST

PROPERTY INFO

FACTS
  • Built In 2006
  • Price/Sqft : $181.21
  • 9 Days on Market
  • MLS # : 2220039
  • Updated Date : 08/25/2020 at 16:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,650 sqft
  • Baths : 2 full
Listing Agent

Realty One Group, Inc

Listing Agent's Description

Newer and affordable single story home in lovely community close to schools and shopping. Home has upgraded granite countertops and tile floors in the kitchen and wet areas. The open great room floor plan features a spacious dining area and fireplace. Kitchen with breakfast bar in addition to a large adjacent breakfast nook and walk-in pantry. Master bedroom is separate from the other two bedrooms with a huge walk-in closet. Spacious master bathroom with double vanity and separate tub and shower. Pool size backyard is ready for your imagination.

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: Rose Lake

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260k280k300k320kPrice in $84k320k

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

Neighborhood: Rose Lake

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21000105011001150120012501300135014001450150015501600Rent in $9651603

* 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 Tartan Elementary School Primary Regular 637 37 3
Clifford O. Findlay Middle School Middle Regular 1,372 59 NA
Mojave High School High Regular 2,311 103 2

John Tartan Elementary School

  • Education Level: Primary
  • # of students: 637
  • # of teachers: 37
3
GreatSchools Rating

Clifford O. Findlay Middle School

  • Education Level: Middle
  • # of students: 1,372
  • # of teachers: 59
NA
GreatSchools Rating

Mojave High School

  • Education Level: High
  • # of students: 2,311
  • # of teachers: 103
2
GreatSchools Rating
 

$269,100$328,900$299,000

PURCHASE PRICE

$1,278$1,562$1,420

RENT

DOWN PAYMENT
FINANCING

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

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

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,420
EXPENSES Loan Payment -$1,103
Property Tax -$258
Property Insurance -$59
HOA -$28
Property Management Fees -$119
CASH FLOW
-$147

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.

$299,000

PROJECTED PRICE

$1,420

PROJECTED RENT

0.47%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.75%
Appreciation Year (1-5) 9.69%
Maintenance Year (1-5) 8.00%
Vacancy 8.50%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$84,985

INVESTMENT

$84,985

Down Payment
$74,750
Rehab Estimate
$5,750
Closing Costs
$4,485

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 60% down payment or higher enables the proceeds from the asset to cover all costs.

$1,103

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $74,750
Loan Amount $224,250
See What Happens When You Reinvest Cash Flow

3

YEARS SAVED

$8,192

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,420

    LIST RENT
  • $0.86

    LIST RENT PER SQFT
  • $1,440

    COMP ESTIMATED VALUE
  • $0.87

    COMP AVG. RENT PER SQFT
Comps Range
$1,420
1$1,4202$1,4253$1,5554$1,6005$1,650
$1,650
RENT COMPS ANALYSIS
  • 5912 Lady Carolina Street North Las Vegas, NV 1
    • 3 beds 2 baths ∙ 1,650 Sqft ∙ Built 2006 3 beds 2 baths ∙ 1,650 Sqft ∙ Built 2006
    • Rent
    • Rent Per SQFT
    •  
    • $1,420
    • $0.86
    •  
  • 2916 Aspen Club Avenue #0 Las Vegas, NV 2
    • 3 beds 3 baths ∙ 1,679 Sqft ∙ Built 2006 3 beds 3 baths ∙ 1,679 Sqft ∙ Built 2006
    LEASED 12/01/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,425
    • $0.85
    •  
  • 5733 Distant Drum Street #n/a North Las Vegas, NV 3
    • 4 beds 3 baths ∙ 1,835 Sqft ∙ Built 2005 4 beds 3 baths ∙ 1,835 Sqft ∙ Built 2005
    LEASED 03/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,555
    • $0.85
    •  
  • 5819 Lady Carolina Street North Las Vegas, NV 4
    • 4 beds 1 baths ∙ 1,815 Sqft ∙ Built 2005 4 beds 1 baths ∙ 1,815 Sqft ∙ Built 2005
    LEASED 02/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $0.88
    •  
  • 5912 Pearlie May Court #0 North Las Vegas, NV 5
    • 4 beds 2 baths ∙ 1,815 Sqft ∙ Built 2007 4 beds 2 baths ∙ 1,815 Sqft ∙ Built 2007
    LEASED 03/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.91
    •  
PROPERTY LISTING DETAILS
Lashelle M Washington
1.702.812.5021
Realty One Group, Inc
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2220039
Last Updated: 08/25/2020
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