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PROPERTY INFO
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
- 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
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: Southern Terrace
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
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
| 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
PROJECTED ANNUAL CASH FLOW
PROJECTED PROPERTY VALUE
30 YEAR PROJECTION
- Appreciation
- Principal
- Loan Balance
TOTAL CASH OUT OF POCKET
INVESTMENT
$128,975
LOAN DETAILS
$1,716
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 4.25% |
| Down Payment | $116,250 |
| Loan Amount | $348,750 |
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
-
5969 Honeysuckle Ridge Street Las Vegas, NV 1
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- Rent
- Rent Per SQFT
- $1,690
- $0.80
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LEASED 04/10/20- Rent
- Rent Per SQFT
- $1,698
- $0.73
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10093 Chestnut Wood Avenue #- Las Vegas, NV 3
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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
1.702.232.8510
Re/max Central
1.866.250.5610
Mynd Property Management
1453579
MLS #: 2256499
Last Updated: 12/19/2020
