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5919 Karnes Ranch Avenue Las Vegas, NV 89131

3 Beds 2 Baths 2,619 sqft Built 2007

INVESTimate

$455,000

List Price

$1,930

$1,737 - $2,123

Rent Est.

$501,956  ( +10.32%)   1 YR EST. FORECAST

PROPERTY INFO

August 20, 2020 RECENTLY ADDED
FACTS
  • Built In 2007
  • Price/Sqft : $173.73
  • 7 Days on Market
  • MLS # : 2223323
  • Updated Date : 08/25/2020 at 16:55
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,619 sqft
  • Baths : 2 full
Listing Agent

Keller Williams Vip

Listing Agent's Description

What more do you need? Beautiful single-story, 3-Car garage home with sparkling pool and relaxing backyard oasis located in a gated community. Sprawling open concept floor plan with separate living and family areas and a stylish kitchen with granite countertops, pantry and a large island with breakfast bar seating. Spacious den with lots of possibilities. Custom two tone paint and attractive tile flooring in all of the right places. Master retreat includes a full en-suite with dual vanities and a separate tub and shower as well as french doors leading to the covered patio. Well placed on a large N/S lot, with access to freeways, shopping, restaurants and entertainment. This gem has it all. Don't miss it!

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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: Centennial Hills

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320k340k360kPrice in $119k362k

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

Neighborhood: Centennial Hills

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
Kay Carl Elementary School Primary Regular 686 32 4
Anthony Saville Middle School Middle Regular 1,494 58 NA
Shadow Ridge High School High Regular 2,697 105 6

Kay Carl Elementary School

  • Education Level: Primary
  • # of students: 686
  • # of teachers: 32
4
GreatSchools Rating

Anthony Saville Middle School

  • Education Level: Middle
  • # of students: 1,494
  • # of teachers: 58
NA
GreatSchools Rating

Shadow Ridge High School

  • Education Level: High
  • # of students: 2,697
  • # of teachers: 105
6
GreatSchools Rating
 

$409,500$500,500$455,000

PURCHASE PRICE

$1,737$2,123$1,930

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$1.4M$1.6M

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$1.4M$1.6M

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,930
EXPENSES Loan Payment -$1,679
Property Tax -$386
Property Insurance -$78
HOA -$70
Property Management Fees -$119
CASH FLOW
-$402

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.

$455,000

PROJECTED PRICE

$1,930

PROJECTED RENT

0.42%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.05%
Appreciation Year (1-5) 10.32%
Maintenance Year (1-5) 8.00%
Vacancy 7.57%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$126,325

INVESTMENT

$126,325

Down Payment
$113,750
Rehab Estimate
$5,750
Closing Costs
$6,825

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 65% down payment or higher enables the proceeds from the asset to cover all costs.

$1,679

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $113,750
Loan Amount $341,250
See What Happens When You Reinvest Cash Flow

1.58

YEARS SAVED

$5,031

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,930

    LIST RENT
  • $0.74

    LIST RENT PER SQFT
  • $1,971

    COMP ESTIMATED VALUE
  • $0.75

    COMP AVG. RENT PER SQFT
Comps Range
$1,700
1$1,7002$1,8503$1,9304$2,0955$2,100
$2,100
RENT COMPS ANALYSIS
  • 5919 Karnes Ranch Avenue Las Vegas, NV 3
    • 3 beds 2 baths ∙ 2,619 Sqft ∙ Built 2007 3 beds 2 baths ∙ 2,619 Sqft ∙ Built 2007
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,930
    • $0.74
    •  
  • 5300 Striking Point Court Las Vegas, NV 1
    • 4 beds 3 baths ∙ 2,521 Sqft ∙ Built 1999 4 beds 3 baths ∙ 2,521 Sqft ∙ Built 1999
    property image
    LEASED 10/01/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $0.67
    •  
  • 6078 Tarrant Ranch Road Las Vegas, NV 2
    • 3 beds 3 baths ∙ 2,520 Sqft ∙ Built 2007 3 beds 3 baths ∙ 2,520 Sqft ∙ Built 2007
    property image
    LEASED 04/11/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $0.73
    •  
  • 6432 Somervell Ranch Street Las Vegas, NV 4
    • 3 beds 3 baths ∙ 2,700 Sqft ∙ Built 2009 3 beds 3 baths ∙ 2,700 Sqft ∙ Built 2009
    property image
    LEASED 07/28/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,095
    • $0.78
    •  
  • 6717 Pyracantha Glen Court Las Vegas, NV 5
    • 4 beds 3 baths ∙ 2,537 Sqft ∙ Built 2002 4 beds 3 baths ∙ 2,537 Sqft ∙ Built 2002
    property image
    LEASED 11/01/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $0.83
    •  
PROPERTY LISTING DETAILS
James Hughes
1.702.460.8993
Keller Williams Vip
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2223323
Last Updated: 08/25/2020
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