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604 Sunset Cliff Circle Las Vegas, NV 89123

3 Beds 3 Baths 1,654 sqft Built 1993

$310,000

List Price

$1,440

$1.3K - $1.6K

Rent Est.

PROPERTY INFO

FACTS
  • Built In 1993
  • Price/Sqft : $187.42
  • 14 Days on Market
  • MLS # : 2242577
  • Updated Date : 11/04/2020 at 13:55
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,654 sqft
  • Baths : 2 full , 1 half
Listing Agent

Keller Williams Market Place

Listing Agent's Description

*TWO STORY HOME WITH SPACIOUS FLOOR PLAN*GREAT CURB APPEAL IN CUL-DE-SAC*LOW MAINTENANCE SHRUBS & TREES, NO GRASS OR SPRINKLERS IN BACKYARD*FRONT YARD WITH BEAUTIFUL TREE & GRASS*POT SHELVING*COZY FIREPLACE IN LIVING ROOM*TONS OF NATURAL LIGHTING*BATHROOM DOWNSTAIRS*KITCHEN WITH TILE COUNTERTOPS, GARDEN WINDOW, AMPLE CABINET SPACE, PANTRY & TILE COUNTERTOPS*SPACIOUS BEDROOMS*LARGE MASTER BEDROOM WITH WALK-IN CLOSET*MASTER BATHROOM WITH SHOWER & DOUBLE SINKS*OPEN BACKYARD*COMMUNITY POOL AND PARKS*PROPERTY IS NEAR SHOPPING, DINING, ENTERTAINMENT & FREEWAY ACCESS*

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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: 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
 

$279,000$341,000$310,000

PURCHASE PRICE

$1,296$1,584$1,440

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,440
EXPENSES Loan Payment -$1,144
Property Tax -$174
Property Insurance -$59
Property Management Fees -$119
CASH FLOW
-$56

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.

$310,000

PROJECTED PRICE

$1,440

PROJECTED RENT

0.46%

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

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$87,900

INVESTMENT

$87,900

Down Payment
$77,500
Rehab Estimate
$5,750
Closing Costs
$4,650

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,144

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $77,500
Loan Amount $232,500
See What Happens When You Reinvest Cash Flow

5.25

YEARS SAVED

$19,579

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,440

    LIST RENT
  • $0.87

    LIST RENT PER SQFT
  • $1,600

    COMP ESTIMATED VALUE
  • $0.97

    COMP AVG. RENT PER SQFT
Comps Range
$1,395
1$1,3952$1,4403$1,4954$1,5955$1,695
$1,695
RENT COMPS ANALYSIS
  • 604 Sunset Cliff Circle Las Vegas, NV 2
    • 3 beds 3 baths ∙ 1,654 Sqft ∙ Built 1993 3 beds 3 baths ∙ 1,654 Sqft ∙ Built 1993
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,440
    • $0.87
    •  
  • 623 Sandana Circle Las Vegas, NV 1
    • 3 beds 2 baths ∙ 1,473 Sqft ∙ Built 1995 3 beds 2 baths ∙ 1,473 Sqft ∙ Built 1995
    property image
    LEASED 12/05/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,395
    • $0.95
    •  
  • 505 Farrington Court #n/a Las Vegas, NV 3
    • 3 beds 2 baths ∙ 1,584 Sqft ∙ Built 2000 3 beds 2 baths ∙ 1,584 Sqft ∙ Built 2000
    property image
    LEASED 02/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,495
    • $0.94
    •  
  • 476 Federman Drive Las Vegas, NV 4
    • 4 beds 2 baths ∙ 1,627 Sqft ∙ Built 1995 4 beds 2 baths ∙ 1,627 Sqft ∙ Built 1995
    property image
    LEASED 09/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $0.98
    •  
  • 640 Livengood Drive Las Vegas, NV 5
    • 4 beds 3 baths ∙ 1,700 Sqft ∙ Built 1992 4 beds 3 baths ∙ 1,700 Sqft ∙ Built 1992
    property image
    LEASED 02/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $1.00
    •  
PROPERTY LISTING DETAILS
Richard J Brenkus
1.702.456.5959
Keller Williams Market Place
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2242577
Last Updated: 11/04/2020
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