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608 Alliston Court Las Vegas, NV 89144

4 Beds 2 Baths 3,754 sqft Built 1999

INVESTimate

$595,000

List Price

$3,280

$3,030 - $3,530

Rent Est.

$648,788  ( +9.04%)   1 YR EST. FORECAST

PROPERTY INFO

August 22, 2020 RECENTLY ADDED
FACTS
  • Built In 1999
  • Price/Sqft : $158.50
  • 6 Days on Market
  • MLS # : 2222673
  • Updated Date : 08/24/2020 at 11:25
CONSTRUCTION
  • Beds : 4
  • Floor Size : 3,754 sqft
  • Baths : 2 full
Listing Agent

Hecker Real Estate & Develop

Listing Agent's Description

WOW!!! Location Location Location... Situated in the Heart of Summerlin,On a Quite Dead End Street, next to all major Parks, Community/sport centers, Shopping, Dining, Schools, Medical, and easy access to anywhere in town!, Spacious Upgraded Home, with plenty of rooms & space, Privet Pool & Spa, Upgraded Appliances, Flooring, Fixtures... Great Land Scape, A MUST SEE!!! This Home is Move In Ready!

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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: The Arbors

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320k340k360kPrice in $119k362k

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

Neighborhood: The Arbors

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
John W. Bonner Elementary School Primary Regular 859 47 10
Sig Rogich Middle School Middle Regular 1,845 70 NA
Palo Verde High School High Regular 3,024 114 9

John W. Bonner Elementary School

  • Education Level: Primary
  • # of students: 859
  • # of teachers: 47
10
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
 

$535,500$654,500$595,000

PURCHASE PRICE

$2,952$3,608$3,280

RENT

DOWN PAYMENT
FINANCING

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$500k$1.0M$1.5M$2.0M$2.5M

PROJECTED ANNUAL CASH FLOW

11530$0.0$5.0k$10k$15k$20k$25k$30k$35k$40k$45k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$500k$1.0M$1.5M$2.0M

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,280
EXPENSES Loan Payment -$2,195
Property Tax -$417
Property Insurance -$100
Property Management Fees -$119
CASH FLOW
$449

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.

$595,000

PROJECTED PRICE

$3,280

PROJECTED RENT

0.55%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.05%
Appreciation Year (1-5) 9.04%
Maintenance Year (1-5) 8.00%
Vacancy 7.57%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$163,425

INVESTMENT

$163,425

Down Payment
$148,750
Rehab Estimate
$5,750
Closing Costs
$8,925

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 35% down payment or higher enables the proceeds from the asset to cover all costs.

$2,195

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $148,750
Loan Amount $446,250
See What Happens When You Reinvest Cash Flow

9.83

YEARS SAVED

$98,870

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,280

    LIST RENT
  • $0.87

    LIST RENT PER SQFT
  • $3,960

    COMP ESTIMATED VALUE
  • $1.06

    COMP AVG. RENT PER SQFT
Comps Range
$3,200
1$3,2002$3,2803$3,6004$3,8145$3,995
$3,995
RENT COMPS ANALYSIS
  • 608 Alliston Court Las Vegas, NV 2
    • 4 beds 2 baths ∙ 3,754 Sqft ∙ Built 1999 4 beds 2 baths ∙ 3,754 Sqft ∙ Built 1999
    • Rent
    • Rent Per SQFT
    •  
    • $3,280
    • $0.87
    •  
  • 9520 Chalgrove Village Avenue Las Vegas, NV 1
    • 4 beds 2 baths ∙ 3,417 Sqft ∙ Built 2001 4 beds 2 baths ∙ 3,417 Sqft ∙ Built 2001
    LEASED 11/07/19
    • Rent
    • Rent Per SQFT
    •  
    • $3,200
    • $0.94
    •  
  • 11529 Bohemian Forest Avenue Las Vegas, NV 3
    • 4 beds 4 baths ∙ 3,417 Sqft ∙ Built 2004 4 beds 4 baths ∙ 3,417 Sqft ∙ Built 2004
    LEASED 09/27/19
    • Rent
    • Rent Per SQFT
    •  
    • $3,600
    • $1.05
    •  
  • 10008 Alegria Drive Las Vegas, NV 4
    • 3 beds 4 baths ∙ 3,422 Sqft ∙ Built 2000 3 beds 4 baths ∙ 3,422 Sqft ∙ Built 2000
    LEASED 10/15/19
    • Rent
    • Rent Per SQFT
    •  
    • $3,814
    • $1.11
    •  
  • 136 South Ring Dove Drive Las Vegas, NV 5
    • 5 beds 4 baths ∙ 3,570 Sqft ∙ Built 2001 5 beds 4 baths ∙ 3,570 Sqft ∙ Built 2001
    LEASED 04/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,995
    • $1.12
    •  
PROPERTY LISTING DETAILS
Anat Meged
1.702.417.9003
Hecker Real Estate & Develop
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2222673
Last Updated: 08/24/2020
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