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PROPERTY INFO
FACTS
- Single Family
- Built In 1993
- Price/Sqft : $170.32
- 3 Days on Market
- MLS # : 2259045
- Updated Date : 01/09/2021 at 21:32
CONSTRUCTION
- Beds : 4
- Floor Size : 1,644 sqft
- Baths : 2 full
Listing Agent
Realty Executives Experts
Listing Agent's Description
FANTASTIC LOCATION NEAR HOLLYWOOD AQUATIC CENTER, RECREATION CENTER AND PARK, SCHOOLS, ALBERTSONS, TARGET, RESTAURANTS, KOHLS, AND WALMART! THIS STUNNING TWO-STORY POOL HOME WITH ARCHED ENTRY FRAMES THE FRONT EXTERIOR. SPACIOUS FORMAL LIVING ROOM FEATURES VAULTED CEILINGS OPENING TO THE ADJOINING EXPANSIVE FAMILY ROOM ANCHORED BY A STATEMENT FIREPLACE AND SLIDING GLASS DOORS TO THE BACKYARD WITH STUNNING INGROUND POOL AND COVERED PATIO TO ENTERTAIN FAMILY AND FRIENDS. THE ISLAND KITCHEN BAR MAKES PREPARING FAMILY MEALS EASY AND ENJOY SHARING MEALS IN THE ADJOINING DINING AREA. RELAXING MASTER SUITE FEATURES VAULTED CEILING AND HIS & HER CLOSETS. TRANQUIL EN-SUITE WITH DUAL SINKS AND TUB/SHOWER COMBINATION. 3 SECONDARY BEDROOMS UPSTAIRS. THIS ONE IS A MUST SEE AND WON’T LAST LONG!
SEE MORE
- 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)
- 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)
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 | $1,430 |
| EXPENSES | Loan Payment | -$973 |
| Property Tax | -$175 | |
| Property Insurance | -$59 | |
| Property Management Fees | -$119 | |
|
CASH FLOW
$104
|
||
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.
$280,000
PROJECTED PRICE
$1,430
PROJECTED RENT
0.51%
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
$79,950
LOAN DETAILS
$973
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 3.75% |
| Down Payment | $70,000 |
| Loan Amount | $210,000 |
7.33
YEARS SAVED
$25,295
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$1,430
LIST RENT -
$0.87
LIST RENT PER SQFT
-
$1,381
COMP ESTIMATED VALUE -
$0.84
COMP AVG. RENT PER SQFT
Comps Range
-
6108 Wild Berry Drive Las Vegas, NV 5
- 4 beds 2 baths ∙ 1,644 Sqft ∙ Built 1993 4 beds 2 baths ∙ 1,644 Sqft ∙ Built 1993
- Rent
- Rent Per SQFT
- $1,430
- $0.87
-
1291 Sweet Orange Street Las Vegas, NV 1
- 3 beds 3 baths ∙ 1,478 Sqft ∙ Built 2004 3 beds 3 baths ∙ 1,478 Sqft ∙ Built 2004
LEASED 01/24/20- Rent
- Rent Per SQFT
- $1,200
- $0.81
-
1274 Orchard View Street Las Vegas, NV 2
- 3 beds 3 baths ∙ 1,478 Sqft ∙ Built 2003 3 beds 3 baths ∙ 1,478 Sqft ∙ Built 2003
LEASED 03/02/20- Rent
- Rent Per SQFT
- $1,200
- $0.81
-
1198 Plum Canyon Street Las Vegas, NV 3
- 3 beds 3 baths ∙ 1,478 Sqft ∙ Built 2003 3 beds 3 baths ∙ 1,478 Sqft ∙ Built 2003
LEASED 03/21/20- Rent
- Rent Per SQFT
- $1,275
- $0.86
-
1301 Orange Meadow Street Las Vegas, NV 4
- 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
PROPERTY LISTING DETAILS
1.702.656.5900
Realty Executives Experts
1.866.250.5610
Mynd Property Management
1453579
MLS #: 2259045
Last Updated: 01/09/2021
