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5976 Starry Nights Court Las Vegas, NV 89113

3 Beds 2 Baths 1,388 sqft Built 2001

INVESTimate

$299,000

List Price

$1,310

$1,179 - $1,441

Rent Est.

$327,734  ( +9.61%)   1 YR EST. FORECAST

PROPERTY INFO

August 22, 2020 RECENTLY ADDED
FACTS
  • Built In 2001
  • Price/Sqft : $215.42
  • 5 Days on Market
  • MLS # : 2224130
  • Updated Date : 08/22/2020 at 12:30
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,388 sqft
  • Baths : 2 full
Listing Agent

Wardley Real Estate

Listing Agent's Description

Living is easy in this adorable one-story home located on a quiet street in this desirable SW neighborhood. Enjoy quiet breakfasts soaked in sunshine from your private backyard with covered patio and tasteful desert landscaping. There are inviting crisp clean walls in this 3 bedroom & 2 bathroom property, which is accented by attractive wood laminate floors & plush carpets. The spacious living room & dining room combo is accented by marvelous vaulted ceilings with plenty of windows to let in natural light. The modern kitchen boasts custom cabinets, modern appliances and a convenient breakfast bar. Relax in the quiet master bedroom with ensuite master bathroom & walk-in closet. The easy-maintenance desert landscaping is simple and elegant for attractive curb appeal. This home is located on a desirable corner lot on a small, tranquil street with little traffic, and a low HOA monthly fee. Perfect starter home or empty nester's dream, come visit today!

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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: Sovana

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320kPrice in $119k321k

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

Neighborhood: Sovana

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21100115012001250130013501400145015001550160016501700Rent in $10701722

* 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
Marion B. Earl Elementary School Primary Regular 727 38 6
Grant Sawyer Middle School Middle Regular 1,308 52 NA
Durango High School High Regular 2,302 95 5

Marion B. Earl Elementary School

  • Education Level: Primary
  • # of students: 727
  • # of teachers: 38
6
GreatSchools Rating

Grant Sawyer Middle School

  • Education Level: Middle
  • # of students: 1,308
  • # of teachers: 52
NA
GreatSchools Rating

Durango High School

  • Education Level: High
  • # of students: 2,302
  • # of teachers: 95
5
GreatSchools Rating
 

$269,100$328,900$299,000

PURCHASE PRICE

$1,179$1,441$1,310

RENT

DOWN PAYMENT
FINANCING

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$200k$400k$600k$800k$1.0M

PROJECTED ANNUAL CASH FLOW

11530-$4.0k-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,310
EXPENSES Loan Payment -$1,103
Property Tax -$186
Property Insurance -$54
HOA -$39
Property Management Fees -$119
CASH FLOW
-$191

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.

$299,000

PROJECTED PRICE

$1,310

PROJECTED RENT

0.44%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.96%
Appreciation Year (1-5) 9.61%
Maintenance Year (1-5) 8.00%
Vacancy 7.63%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$84,985

INVESTMENT

$84,985

Down Payment
$74,750
Rehab Estimate
$5,750
Closing Costs
$4,485

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 60% down payment or higher enables the proceeds from the asset to cover all costs.

$1,103

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $74,750
Loan Amount $224,250
See What Happens When You Reinvest Cash Flow

2.75

YEARS SAVED

$7,590

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,310

    LIST RENT
  • $0.94

    LIST RENT PER SQFT
  • $1,305

    COMP ESTIMATED VALUE
  • $0.94

    COMP AVG. RENT PER SQFT
Comps Range
$1,310
1$1,3102$1,3753$1,3954$1,3985$1,400
$1,400
RENT COMPS ANALYSIS
  • 5976 Starry Nights Court Las Vegas, NV 1
    • 3 beds 2 baths ∙ 1,388 Sqft ∙ Built 2001 3 beds 2 baths ∙ 1,388 Sqft ∙ Built 2001
    • Rent
    • Rent Per SQFT
    •  
    • $1,310
    • $0.94
    •  
  • 6063 Maccan Street #na Las Vegas, NV 2
    • 3 beds 2 baths ∙ 1,403 Sqft ∙ Built 2001 3 beds 2 baths ∙ 1,403 Sqft ∙ Built 2001
    LEASED 11/06/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,375
    • $0.98
    •  
  • 7340 Dry Corral Lane Las Vegas, NV 3
    • 3 beds 2 baths ∙ 1,570 Sqft ∙ Built 2001 3 beds 2 baths ∙ 1,570 Sqft ∙ Built 2001
    LEASED 03/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,395
    • $0.89
    •  
  • 5975 Belcastro Street #0 Las Vegas, NV 4
    • 3 beds 2 baths ∙ 1,570 Sqft ∙ Built 2001 3 beds 2 baths ∙ 1,570 Sqft ∙ Built 2001
    LEASED 12/03/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,398
    • $0.89
    •  
  • 7070 Russell Ranch Avenue #0 Las Vegas, NV 5
    • 3 beds 2 baths ∙ 1,395 Sqft ∙ Built 1996 3 beds 2 baths ∙ 1,395 Sqft ∙ Built 1996
    LEASED 05/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,400
    • $1.00
    •  
PROPERTY LISTING DETAILS
Eiwin Mark
1.415.971.3379
Wardley Real Estate
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2224130
Last Updated: 08/22/2020
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