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PROPERTY INFO
FACTS
- Single Family
- Built In 1994
- Price/Sqft : $183.46
- 10 Days on Market
- MLS # : 2265585
- Updated Date : 02/05/2021 at 00:57
CONSTRUCTION
- Beds : 4
- Floor Size : 1,608 sqft
- Baths : 2 full
Listing Agent
Re/max Titans
Listing Agent's Description
impressive Two Story 4 bedroom Home, Owner meticulously has kept this home in very nice condition, Cathedral Ceiling, Tiled Flooring Downstairs, Laminate Flooring upstairs and Carpet in Bedrooms, Energy Saving Fans throughout, Custom Faux Wood Blinds, Walk In Closet in Master Bedroom, Patio, Decorative Pavers in Front and Rear yard, nice Zinc Lawn for Low Maintenance, to see is to appreciate!!
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: Orchards
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: Orchards
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $1,400 |
| EXPENSES | Loan Payment | -$1,025 |
| Property Tax | -$164 | |
| Property Insurance | -$58 | |
| Property Management Fees | -$119 | |
|
CASH FLOW
$34
|
||
This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 17% of earned rent to cover both maintenance and periods of vacancy.
$295,000
PROJECTED PRICE
$1,400
PROJECTED RENT
0.47%
PROJECTED RENT / PRICE RATIO
| Expense Inflation | 2.50% |
| Rental Growth Year (1-5) | 3.75% |
| Appreciation Year (1-5) | 11.3% |
| Maintenance Year (1-5) | 8.00% |
| Vacancy | 8.50% |
| 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
$83,925
LOAN DETAILS
$1,025
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 3.75% |
| Down Payment | $73,750 |
| Loan Amount | $221,250 |
6.17
YEARS SAVED
$20,164
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$1,400
LIST RENT -
$0.87
LIST RENT PER SQFT
-
$1,391
COMP ESTIMATED VALUE -
$0.87
COMP AVG. RENT PER SQFT
Comps Range
-
6028 Spring Harvest Drive Las Vegas, NV 4
- 4 beds 2 baths ∙ 1,608 Sqft ∙ Built 1994 4 beds 2 baths ∙ 1,608 Sqft ∙ Built 1994
- Rent
- Rent Per SQFT
- $1,400
- $0.87
-
1274 Orchard View Street Las Vegas, NV 1
- 3 beds 3 baths ∙ 1,478 Sqft ∙ Built 2003 3 beds 3 baths ∙ 1,478 Sqft ∙ Built 2003
LEASED 01/29/21- Rent
- Rent Per SQFT
- $1,250
- $0.85
-
5990 Emerald Canyon Drive #home Las Vegas, NV 2
- 4 beds 3 baths ∙ 1,542 Sqft ∙ Built 1989 4 beds 3 baths ∙ 1,542 Sqft ∙ Built 1989
LEASED 04/13/20- Rent
- Rent Per SQFT
- $1,295
- $0.84
-
1301 Orange Meadow Street Las Vegas, NV 3
- 3 beds 3 baths ∙ 1,475 Sqft ∙ Built 2003 3 beds 3 baths ∙ 1,475 Sqft ∙ Built 2003
LEASED 12/11/20- Rent
- Rent Per SQFT
- $1,300
- $0.88
-
6202 Elderberry Wine Avenue Las Vegas, NV 5
- 4 beds 1 baths ∙ 1,679 Sqft ∙ Built 1996 4 beds 1 baths ∙ 1,679 Sqft ∙ Built 1996
LEASED 10/19/20- Rent
- Rent Per SQFT
- $1,500
- $0.89
PROPERTY LISTING DETAILS
1.702.373.4184
Re/max Titans
1.866.250.5610
Mynd Property Management
1453579
MLS #: 2265585
Last Updated: 02/05/2021
