Work with a dedicated Real Estate Advisor who will take your financial preferences and help you select and acquire properties that fit your criteria. Learn more

605 Wandering Violets Way Las Vegas, NV 89138

3 Beds 3 Baths 2,306 sqft Built 2004

$499,999

List Price

$2,050

$1.8K - $2.3K

Rent Est.

PROPERTY INFO

November 02, 2020 RECENTLY ADDED
FACTS
  • Built In 2004
  • Price/Sqft : $216.83
  • 2 Days on Market
  • MLS # : 2244093
  • Updated Date : 11/02/2020 at 17:06
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,306 sqft
  • Baths : 2 full , 1 half
Listing Agent

Huntington & Ellis, A Real Est

Listing Agent's Description

A beautiful home in the highly desirable gated community of Mariposa in the Paseos of West Summerlin! A welcoming front courtyard greets you as you enter the property. This spacious floor plan offers 3 bedrooms and a large loft area. Freshly painted interior and exterior! Beautiful granite countertops included in a spacious kitchen. All appliances included in the sale! Living room includes all surround-sound speakers. The backyard is complete with a large dazzling pool and spa and covered backyard. A brand new garage door recently installed. The Mariposa community is gated, close to Downtown Summerlin, Red Rock, and the trails and parks of Summerlin. Home is priced to sell, don't wait too long!

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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)

PRICE & RENT TRENDS

Neighborhood: The Paseos

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450k500kPrice in $119k545k

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

Neighborhood: The Paseos

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21200140016001800200022002400260028003000Rent in $10763057

* 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
Billy And Rosemary Vassiliadis Elementary School Primary Unknown NA
Sig Rogich Middle School Middle Regular 1,845 70 NA
Palo Verde High School High Regular 3,024 114 9

Billy And Rosemary Vassiliadis Elementary School

  • Education Level: Primary
  • # of students:
  • # of teachers:
NA
GreatSchools Rating

Sig Rogich Middle School

  • Education Level: Middle
  • # of students: 1,845
  • # of teachers: 70
NA
GreatSchools Rating

Palo Verde High School

  • Education Level: High
  • # of students: 3,024
  • # of teachers: 114
9
GreatSchools Rating
 

$449,999$549,999$499,999

PURCHASE PRICE

$1,845$2,255$2,050

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,050
EXPENSES Loan Payment -$1,845
Property Tax -$356
Property Insurance -$72
Property Management Fees -$119
CASH FLOW
-$342

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.

$499,999

PROJECTED PRICE

$2,050

PROJECTED RENT

0.41%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.05%
Appreciation Year (1-5) 9.1%
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$1.2M$1.4M$1.6M

PROJECTED ANNUAL CASH FLOW

11530-$5.0k$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$1.4M$1.6M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$138,250

INVESTMENT

$138,250

Down Payment
$125,000
Rehab Estimate
$5,750
Closing Costs
$7,500

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,845

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $125,000
Loan Amount $374,999
See What Happens When You Reinvest Cash Flow

2.5

YEARS SAVED

$11,323

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,050

    LIST RENT
  • $0.89

    LIST RENT PER SQFT
  • $2,064

    COMP ESTIMATED VALUE
  • $0.9

    COMP AVG. RENT PER SQFT
Comps Range
$1,950
1$1,9502$2,0003$2,0504$2,3005$2,595
$2,595
RENT COMPS ANALYSIS
  • 605 Wandering Violets Way Las Vegas, NV 3
    • 3 beds 3 baths ∙ 2,306 Sqft ∙ Built 2004 3 beds 3 baths ∙ 2,306 Sqft ∙ Built 2004
    • Rent
    • Rent Per SQFT
    •  
    • $2,050
    • $0.89
    •  
  • 620 Apricot Rose Las Vegas, NV 1
    • 3 beds 3 baths ∙ 2,470 Sqft ∙ Built 2006 3 beds 3 baths ∙ 2,470 Sqft ∙ Built 2006
    LEASED 06/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $0.79
    •  
  • 604 Bachelor Button Street Las Vegas, NV 2
    • 3 beds 3 baths ∙ 2,470 Sqft ∙ Built 2006 3 beds 3 baths ∙ 2,470 Sqft ∙ Built 2006
    LEASED 03/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $0.81
    •  
  • 601 Bachelor Button Street #0 Las Vegas, NV 4
    • 3 beds 3 baths ∙ 2,470 Sqft ∙ Built 2006 3 beds 3 baths ∙ 2,470 Sqft ∙ Built 2006
    LEASED 01/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $0.93
    •  
  • 604 Wandering Violets Way Las Vegas, NV 5
    • 4 beds 3 baths ∙ 2,480 Sqft ∙ Built 2004 4 beds 3 baths ∙ 2,480 Sqft ∙ Built 2004
    LEASED 10/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,595
    • $1.05
    •  
PROPERTY LISTING DETAILS
Craig Tann
1.702.493.0683
Huntington & Ellis, A Real Est
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2244093
Last Updated: 11/02/2020
BESbswy