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597 Fontayne Avenue Las Vegas, NV 89123

5 Beds 2 Baths 2,303 sqft Built 2001

$405,000

List Price

$1,760

$1.6K - $1.9K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
February 24, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2001
  • Price/Sqft : $175.86
  • 5 Days on Market
  • MLS # : 2272576
  • Updated Date : 02/26/2021 at 17:10
CONSTRUCTION
  • Beds : 5
  • Floor Size : 2,303 sqft
  • Baths : 2 full
Listing Agent

Exit Realty Number One

Listing Agent's Description

WELCOME HOME TO THIS OPEN AND AIRY 2 STORY HOME WITH 5 FULL BEDROOMS WITH A 3 CAR GARAGE TUCKED AWAY IN SILVERADO! OPEN FLOOR PLAN WITH CRISP TILE FLOORS UPGRADED CARPETING WITH ALL APPLIANCES INCLUDED!! BEDROOM W/WALK IN CLOSET AND 3/4 BATH ON 1ST FLOOR! MASTER BEDROOM WITH 3 SECONDARY BEDROOMS UPSTAIRS!!! OPEN KITCHEN WITH ISLAND AND FRENCH DOORS LEADING TO YOUR PRIVATE POOL SIZED BACKYARD! SEPARATE FAMILY ROOM (SHARP 80" FULL HP INTERACTIVE DISPLAY PN-L802BRAVO INCLUDED) & LIVING & DINING ROOMS SEPARATE LAUNDRY ROOM ON FIRST FLOOR OFF KITCHEN! WELCOME HOME!!!

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MARKET HIGHLIGHTS

  • 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)
  • 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)

PRICE & RENT TRENDS

Neighborhood: Silverado Ranch

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300kPrice in $119k305k

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

Neighborhood: Silverado Ranch

NeighborhoodNIR Market*CityMarket2010Year20002019 Q211001150120012501300135014001450150015501600Rent in $10761606

* 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 R. Beatty Elementary School Primary Regular 601 29 8
Jack L. Schofield Middle School Middle Regular 1,332 51 NA
Silverado High School High Regular 2,263 94 5

John R. Beatty Elementary School

  • Education Level: Primary
  • # of students: 601
  • # of teachers: 29
8
GreatSchools Rating

Jack L. Schofield Middle School

  • Education Level: Middle
  • # of students: 1,332
  • # of teachers: 51
NA
GreatSchools Rating

Silverado High School

  • Education Level: High
  • # of students: 2,263
  • # of teachers: 94
5
GreatSchools Rating
 

$364,500$445,500$405,000

PURCHASE PRICE

$1,584$1,936$1,760

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,760
EXPENSES Loan Payment -$1,407
Property Tax -$250
Property Insurance -$72
Property Management Fees -$119
CASH FLOW
-$87

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.

$405,000

PROJECTED PRICE

$1,760

PROJECTED RENT

0.43%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.96%
Appreciation Year (1-5) 10.2%
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

PROJECTED ANNUAL CASH FLOW

11530$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$113,075

INVESTMENT

$113,075

Down Payment
$101,250
Rehab Estimate
$5,750
Closing Costs
$6,075

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 50% down payment or higher enables the proceeds from the asset to cover all costs.

$1,407

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $101,250
Loan Amount $303,750
See What Happens When You Reinvest Cash Flow

4.58

YEARS SAVED

$18,948

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,760

    LIST RENT
  • $0.76

    LIST RENT PER SQFT
  • $1,831

    COMP ESTIMATED VALUE
  • $0.79

    COMP AVG. RENT PER SQFT
Comps Range
$1,695
1$1,6952$1,7603$1,7954$1,9105$1,995
$1,995
RENT COMPS ANALYSIS
  • 597 Fontayne Avenue Las Vegas, NV 2
    • 5 beds 2 baths ∙ 2,303 Sqft ∙ Built 2001 5 beds 2 baths ∙ 2,303 Sqft ∙ Built 2001
    • Rent
    • Rent Per SQFT
    •  
    • $1,760
    • $0.76
    •  
  • 9001 Haviland Road Las Vegas, NV 1
    • 4 beds 3 baths ∙ 2,134 Sqft ∙ Built 2000 4 beds 3 baths ∙ 2,134 Sqft ∙ Built 2000
    LEASED 02/01/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $0.79
    •  
  • 9147 Marlia Street #0 Las Vegas, NV 3
    • 4 beds 3 baths ∙ 2,436 Sqft ∙ Built 2003 4 beds 3 baths ∙ 2,436 Sqft ∙ Built 2003
    LEASED 09/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,795
    • $0.74
    •  
  • 672 Fontayne Las Vegas, NV 4
    • 4 beds 3 baths ∙ 2,303 Sqft ∙ Built 2002 4 beds 3 baths ∙ 2,303 Sqft ∙ Built 2002
    LEASED 04/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,910
    • $0.83
    •  
  • 752 Homewillow Avenue #n/a Las Vegas, NV 5
    • 4 beds 3 baths ∙ 2,427 Sqft ∙ Built 2005 4 beds 3 baths ∙ 2,427 Sqft ∙ Built 2005
    LEASED 07/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,995
    • $0.82
    •  
PROPERTY LISTING DETAILS
Caralee Kecman
1.702.985.4700
Exit Realty Number One
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2272576
Last Updated: 02/26/2021
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