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5974 Spanish Mustang Court Las Vegas, NV 89122

4 Beds 2 Baths 2,202 sqft Built 2006

$385,000

List Price

$1,680

$1.5K - $1.8K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 11, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2006
  • Price/Sqft : $174.84
  • 5 Days on Market
  • MLS # : 2276676
  • Updated Date : 03/11/2021 at 12:30
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,202 sqft
  • Baths : 2 full
Listing Agent

24 Karat Realty

Listing Agent's Description

Well build/well insulated/spacious 4bd/2 bath home is a MUST SEE!! Located 20 mins from the L.V. Strip. This home is nestled in Stallion Mountain Golf Club and Community. The property features an open entryway, high ceilings, and large windows throughout that provide the home with an abundance of natural light. A large 2 car garage with additional space for golf cart parking and overhead storage. The Kitchen includes space, stainless steel appliances, granite counter, kitchen island, and feature big window in the dining area that opens to a generous great room. The great room offers a sweeping landscape view of the entire backyard. The master bedroom separate from other bedrooms features big windows that capture landscape view while the master bath offers double sinks, an oversized walk-in closet and a large garden tub, perfect for relaxing! Create your outdoor living and backyard fun with covered patio area and outdoor grill. Owned solar panels/lower energy bills:)))

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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)

PRICE & RENT TRENDS

Neighborhood: Stallion Montain

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300kPrice in $119k306k

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

Neighborhood: Stallion Montain

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2105011001150120012501300135014001450150015501600Rent in $10071606

* 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
Cynthia Cunningham Elementary School Primary Regular 801 38 4
Kathleen And Tim Harney Middle School Middle Regular 1,845 71 NA
Chaparral High School High Regular 2,270 87 3

Cynthia Cunningham Elementary School

  • Education Level: Primary
  • # of students: 801
  • # of teachers: 38
4
GreatSchools Rating

Kathleen And Tim Harney Middle School

  • Education Level: Middle
  • # of students: 1,845
  • # of teachers: 71
NA
GreatSchools Rating

Chaparral High School

  • Education Level: High
  • # of students: 2,270
  • # of teachers: 87
3
GreatSchools Rating
 

$346,500$423,500$385,000

PURCHASE PRICE

$1,512$1,848$1,680

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,680
EXPENSES Loan Payment -$1,337
Property Tax -$256
Property Insurance -$70
Property Management Fees -$119
CASH FLOW
-$102

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.

$385,000

PROJECTED PRICE

$1,680

PROJECTED RENT

0.44%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.96%
Appreciation Year (1-5) 8.4%
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

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$107,775

INVESTMENT

$107,775

Down Payment
$96,250
Rehab Estimate
$5,750
Closing Costs
$5,775

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,337

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $96,250
Loan Amount $288,750
See What Happens When You Reinvest Cash Flow

4.42

YEARS SAVED

$16,443

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,680

    LIST RENT
  • $0.76

    LIST RENT PER SQFT
  • $1,652

    COMP ESTIMATED VALUE
  • $0.75

    COMP AVG. RENT PER SQFT
Comps Range
$1,525
1$1,5252$1,5953$1,6754$1,6805$1,695
$1,695
RENT COMPS ANALYSIS
  • 5974 Spanish Mustang Court Las Vegas, NV 4
    • 4 beds 2 baths ∙ 2,202 Sqft ∙ Built 2006 4 beds 2 baths ∙ 2,202 Sqft ∙ Built 2006
    • Rent
    • Rent Per SQFT
    •  
    • $1,680
    • $0.76
    •  
  • 6387 Hamilton Grove Avenue Las Vegas, NV 1
    • 4 beds 2 baths ∙ 2,122 Sqft ∙ Built 2005 4 beds 2 baths ∙ 2,122 Sqft ∙ Built 2005
    LEASED 05/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,525
    • $0.72
    •  
  • 3661 Winter Wren Las Vegas, NV 2
    • 3 beds 2 baths ∙ 2,240 Sqft ∙ Built 2005 3 beds 2 baths ∙ 2,240 Sqft ∙ Built 2005
    LEASED 06/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $0.71
    •  
  • 3846 Waynesvill Street Las Vegas, NV 3
    • 4 beds 2 baths ∙ 2,056 Sqft ∙ Built 2000 4 beds 2 baths ∙ 2,056 Sqft ∙ Built 2000
    LEASED 04/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,675
    • $0.81
    •  
  • 3602 Winter Wren Street Las Vegas, NV 5
    • 3 beds 2 baths ∙ 2,240 Sqft ∙ Built 2005 3 beds 2 baths ∙ 2,240 Sqft ∙ Built 2005
    LEASED 11/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $0.76
    •  
PROPERTY LISTING DETAILS
Sokly Lay
1.702.328.8721
24 Karat Realty
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2276676
Last Updated: 03/11/2021
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