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5998 Tinazzi Way Las Vegas, NV 89141

3 Beds 3 Baths 1,780 sqft Built 2003

$334,900

List Price

$1,390

$1.3K - $1.5K

Rent Est.

PROPERTY INFO

November 04, 2020 RECENTLY ADDED
FACTS
  • Built In 2003
  • Price/Sqft : $188.15
  • 7 Days on Market
  • MLS # : 2244101
  • Updated Date : 11/05/2020 at 18:35
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,780 sqft
  • Baths : 2 full , 1 half
Listing Agent

Realty One Group, Inc

Listing Agent's Description

*TURN-KEY* 3 bedrooms all with walk in closets, Loft, 2.5 bathrooms, 2 Car Garage, 2 story home with 1780 sq. ft. located at the end of a cul-de-sac in Beautiful Southern Highlands! Home as an extra long driveway which can park 6+ vehicles. Bright Kitchen has ample cabinet space, pendant lighting, double door pantry and nook with views of the front yard. The large Breakfast Bar overlooks into the open Great Room and Dining Room. Stainless steel 5 burner gas stove, dishwasher and microwave plus refrigerator, washer and dryer are all included. Oversized Primary Suite includes large walk-in closet, ceiling fan, double sinks, separate Tub and Shower. Beautiful large diagonal Tile Flooring throughout including the stairs. Entire exterior home was just painted in June 2020. Backyard is easy maintenance w/ synthetic grass and concrete patio. Nearby shopping centers, schools, hospitals, restaurants, walking trails and parks. MOVE-IN READY! A Must See!

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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)

PRICE & RENT TRENDS

Neighborhood: Southern Highlands

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320k340k360k380k400kPrice in $119k410k

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

Neighborhood: Southern Highlands

NeighborhoodNIR Market*CityMarket2010Year20002019 Q211001200130014001500160017001800Rent in $10761875

* 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
Charles And Phyllis Frias Elementary School Primary Regular 802 41 10
Lois And Jerry Tarkanian Middle School Middle Regular 1,739 71 NA
Desert Oasis High School High Regular 2,417 102 5

Charles And Phyllis Frias Elementary School

  • Education Level: Primary
  • # of students: 802
  • # of teachers: 41
10
GreatSchools Rating

Lois And Jerry Tarkanian Middle School

  • Education Level: Middle
  • # of students: 1,739
  • # of teachers: 71
NA
GreatSchools Rating

Desert Oasis High School

  • Education Level: High
  • # of students: 2,417
  • # of teachers: 102
5
GreatSchools Rating
 

$301,410$368,390$334,900

PURCHASE PRICE

$1,251$1,529$1,390

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,390
EXPENSES Loan Payment -$1,236
Property Tax -$210
Property Insurance -$62
Property Management Fees -$119
CASH FLOW
-$236

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.

$334,900

PROJECTED PRICE

$1,390

PROJECTED RENT

0.42%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.05%
Appreciation Year (1-5) 8.0%
Maintenance Year (1-5) 8.00%
Vacancy 7.57%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

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

PROJECTED ANNUAL CASH FLOW

11530-$6.0k-$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$94,499

INVESTMENT

$94,499

Down Payment
$83,725
Rehab Estimate
$5,750
Closing Costs
$5,024

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,236

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $83,725
Loan Amount $251,175
See What Happens When You Reinvest Cash Flow

2.5

YEARS SAVED

$7,727

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,390

    LIST RENT
  • $0.78

    LIST RENT PER SQFT
  • $1,526

    COMP ESTIMATED VALUE
  • $0.86

    COMP AVG. RENT PER SQFT
Comps Range
$1,390
1$1,3902$1,5003$1,5504$1,6005$1,800
$1,800
RENT COMPS ANALYSIS
  • 5998 Tinazzi Way Las Vegas, NV 1
    • 3 beds 3 baths ∙ 1,780 Sqft ∙ Built 2003 3 beds 3 baths ∙ 1,780 Sqft ∙ Built 2003
    • Rent
    • Rent Per SQFT
    •  
    • $1,390
    • $0.78
    •  
  • 5911 Grechetto Court Las Vegas, NV 2
    • 3 beds 3 baths ∙ 1,780 Sqft ∙ Built 2004 3 beds 3 baths ∙ 1,780 Sqft ∙ Built 2004
    LEASED 06/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $0.84
    •  
  • 5894 Grechetto Court Las Vegas, NV 3
    • 3 beds 3 baths ∙ 1,897 Sqft ∙ Built 2004 3 beds 3 baths ∙ 1,897 Sqft ∙ Built 2004
    LEASED 06/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $0.82
    •  
  • 5696 Tallard Court Las Vegas, NV 4
    • 3 beds 3 baths ∙ 1,930 Sqft ∙ Built 2001 3 beds 3 baths ∙ 1,930 Sqft ∙ Built 2001
    LEASED 04/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $0.83
    •  
  • 11022 Santorini Drive Las Vegas, NV 5
    • 3 beds 2 baths ∙ 1,920 Sqft ∙ Built 2002 3 beds 2 baths ∙ 1,920 Sqft ∙ Built 2002
    LEASED 03/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $0.94
    •  
PROPERTY LISTING DETAILS
Manuel J Bernardo
1.702.561.3088
Realty One Group, Inc
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2244101
Last Updated: 11/05/2020
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