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5969 Honeysuckle Ridge Street Las Vegas, NV 89148

4 Beds 2 Baths 2,118 sqft Built 2008

$465,000

List Price

$1,690

$1.5K - $1.9K

Rent Est.

PROPERTY INFO

December 19, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2008
  • Price/Sqft : $219.55
  • 2 Days on Market
  • MLS # : 2256499
  • Updated Date : 12/19/2020 at 03:30
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,118 sqft
  • Baths : 2 full
Listing Agent

Re/max Central

Listing Agent's Description

Rare 4 Bedroom ONE Story Home. AMPLE Flexible Living Space. Private Backyard with NO Neighbors Behind + LOTS of Extra Parking Directly Across the Street. Highly Desirable Southwest Location. Adjacent to South Summerlin. Walking Distance to Bishop Gorman High School & Batterman Elementary. Minutes to 215, Shopping, Walking Trails/Parks. Only 1 HOA & NO SID. Home Features FOUR True Bedrooms, a Family Rm, Living Rm, Dining Rm & Large 16'x13' Creative Nook off Kitchen (Perfect for a Studio, Home Workspace, and Home Schooling Area) Beautiful Stone Exterior Accents & Covered Front Porch. Tile Floors Throughout Entire Home Except for Beds. Brand NEW Carpet in ALL the Beds. Fresh Paint. High Baseboards. Kitchen Features Ample Counter Space, Large Raised Breakfast Bar & Extended Height Wall Cabinets & Pantry. Master Suite with Walk-In Closet, Dual Sinks, Large Separate JETTED Tub, and a Walk-In Rain Glass Shower. Guest Bathroom Features DBL Sinks, Large Tub/Shower Combo. Well Maintained Home

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: 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
Kathy L. Batterman Elementary School Primary Regular 910 47 9
Victoria Fertitta Middle School Middle Regular 1,472 60 NA
Sierra Vista High School High Regular 2,396 88 4

Kathy L. Batterman Elementary School

  • Education Level: Primary
  • # of students: 910
  • # of teachers: 47
9
GreatSchools Rating

Victoria Fertitta Middle School

  • Education Level: Middle
  • # of students: 1,472
  • # of teachers: 60
NA
GreatSchools Rating

Sierra Vista High School

  • Education Level: High
  • # of students: 2,396
  • # of teachers: 88
4
GreatSchools Rating
 

$418,500$511,500$465,000

PURCHASE PRICE

$1,521$1,859$1,690

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,690
EXPENSES Loan Payment -$1,716
Property Tax -$289
Property Insurance -$68
Property Management Fees -$119
CASH FLOW
-$502

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.

$465,000

PROJECTED PRICE

$1,690

PROJECTED RENT

0.36%

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$1.6M

PROJECTED ANNUAL CASH FLOW

11530-$10k-$5.0k$0.0$5.0k$10k

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$128,975

INVESTMENT

$128,975

Down Payment
$116,250
Rehab Estimate
$5,750
Closing Costs
$6,975

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,716

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $116,250
Loan Amount $348,750
See What Happens When You Reinvest Cash Flow

1.17

YEARS SAVED

$2,742

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,690

    LIST RENT
  • $0.8

    LIST RENT PER SQFT
  • $1,700

    COMP ESTIMATED VALUE
  • $0.8

    COMP AVG. RENT PER SQFT
Comps Range
$1,690
1$1,6902$1,6983$1,7504$1,7955$1,850
$1,850
RENT COMPS ANALYSIS
  • 5969 Honeysuckle Ridge Street Las Vegas, NV 1
    • 4 beds 2 baths ∙ 2,118 Sqft ∙ Built 2008 4 beds 2 baths ∙ 2,118 Sqft ∙ Built 2008
    • Rent
    • Rent Per SQFT
    •  
    • $1,690
    • $0.80
    •  
  • 5893 Honeysuckle Ridge Street #0 Las Vegas, NV 2
    • 4 beds 3 baths ∙ 2,314 Sqft ∙ Built 2008 4 beds 3 baths ∙ 2,314 Sqft ∙ Built 2008
    LEASED 04/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,698
    • $0.73
    •  
  • 10093 Chestnut Wood Avenue #- Las Vegas, NV 3
    • 4 beds 3 baths ∙ 2,314 Sqft ∙ Built 2007 4 beds 3 baths ∙ 2,314 Sqft ∙ Built 2007
    LEASED 01/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.76
    •  
  • 10494 Calico Pines Avenue Las Vegas, NV 4
    • 3 beds 3 baths ∙ 1,951 Sqft ∙ Built 2004 3 beds 3 baths ∙ 1,951 Sqft ∙ Built 2004
    LEASED 07/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,795
    • $0.92
    •  
  • 6057 Honeysuckle Ridge Street Las Vegas, NV 5
    • 4 beds 3 baths ∙ 2,313 Sqft ∙ Built 2008 4 beds 3 baths ∙ 2,313 Sqft ∙ Built 2008
    LEASED 01/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $0.80
    •  
PROPERTY LISTING DETAILS
Nancy E Fleming-gillingha
1.702.232.8510
Re/max Central
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2256499
Last Updated: 12/19/2020
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