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612 Sea Pines Lane Las Vegas, NV 89107

3 Beds 2 Baths 1,758 sqft Built 1984

$285,000

List Price

$1,330

$1.2K - $1.5K

Rent Est.

PROPERTY INFO

February 06, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1984
  • Price/Sqft : $162.12
  • 3 Days on Market
  • MLS # : 2268147
  • Updated Date : 02/06/2021 at 07:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,758 sqft
  • Baths : 2 full
Listing Agent

Keller Williams Southern Nevada

Listing Agent's Description

SINGLE STORY HOME WITH LOTS OF SPACE AND STORAGE. NICE SIZE BEDROOMS WITH SEPARATION FROM THE PRIMARY BEDROOM. KITCHEN OPENS OUT TO AN ENCLOSED COURTYARD. HOME IS LOCATED IN THE GREENS WHICH IS GATED AND THE GROUNDS ARE WELL TAKEN CARE OF. WOOD BURNING FIREPLACE, BUILT IN BAR, LIVING ROOM OPEN TO THE KITCHEN, VERY QUIET NEIGHBORHOOD.

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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: Twin Lakes

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260k280kPrice in $80k296k

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

Neighborhood: Twin Lakes

NeighborhoodNIR Market*CityMarket2010Year20002019 Q29009501000105011001150120012501300135014001450150015501600Rent in $8871603

* 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
E.w. Griffith Elementary School Primary Regular 578 27 3
Robert O. Gibson Middle School Middle Magnet 1,293 57 NA
Western High School High Regular 2,534 112 2

E.w. Griffith Elementary School

  • Education Level: Primary
  • # of students: 578
  • # of teachers: 27
3
GreatSchools Rating

Robert O. Gibson Middle School

  • Education Level: Middle
  • # of students: 1,293
  • # of teachers: 57
NA
GreatSchools Rating

Western High School

  • Education Level: High
  • # of students: 2,534
  • # of teachers: 112
2
GreatSchools Rating
 

$256,500$313,500$285,000

PURCHASE PRICE

$1,197$1,463$1,330

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,330
EXPENSES Loan Payment -$990
Property Tax -$160
Property Insurance -$61
Property Management Fees -$119
CASH FLOW
$0

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.

$285,000

PROJECTED PRICE

$1,330

PROJECTED RENT

0.47%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.75%
Appreciation Year (1-5) 12.5%
Maintenance Year (1-5) 8.00%
Vacancy 8.50%
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-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k

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$81,275

INVESTMENT

$81,275

Down Payment
$71,250
Rehab Estimate
$5,750
Closing Costs
$4,275

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$990

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $71,250
Loan Amount $213,750
See What Happens When You Reinvest Cash Flow

5.42

YEARS SAVED

$16,586

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,330

    LIST RENT
  • $0.76

    LIST RENT PER SQFT
  • $1,406

    COMP ESTIMATED VALUE
  • $0.8

    COMP AVG. RENT PER SQFT
Comps Range
$1,295
1$1,2952$1,3303$1,3804$1,4005$1,400
$1,400
RENT COMPS ANALYSIS
  • 612 Sea Pines Lane Las Vegas, NV 2
    • 3 beds 2 baths ∙ 1,758 Sqft ∙ Built 1984 3 beds 2 baths ∙ 1,758 Sqft ∙ Built 1984
    • Rent
    • Rent Per SQFT
    •  
    • $1,330
    • $0.76
    •  
  • 5369 Images Las Vegas, NV 1
    • 3 beds 3 baths ∙ 1,635 Sqft ∙ Built 1990 3 beds 3 baths ∙ 1,635 Sqft ∙ Built 1990
    LEASED 04/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,295
    • $0.79
    •  
  • 707 Sea Pines Lane Las Vegas, NV 3
    • 3 beds 2 baths ∙ 1,630 Sqft ∙ Built 1985 3 beds 2 baths ∙ 1,630 Sqft ∙ Built 1985
    LEASED 05/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,380
    • $0.85
    •  
  • 132 Countrywood Circle Las Vegas, NV 4
    • 3 beds 3 baths ∙ 1,822 Sqft ∙ Built 1989 3 beds 3 baths ∙ 1,822 Sqft ∙ Built 1989
    LEASED 09/20/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,400
    • $0.77
    •  
  • 5116 Arbor Way Las Vegas, NV 5
    • 4 beds 3 baths ∙ 1,772 Sqft ∙ Built 1980 4 beds 3 baths ∙ 1,772 Sqft ∙ Built 1980
    LEASED 01/28/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,400
    • $0.79
    •  
PROPERTY LISTING DETAILS
Christina Vojth
1.702.465.8842
Keller Williams Southern Nevada
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2268147
Last Updated: 02/06/2021
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