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613 Bernini Street Las Vegas, NV 89144

3 Beds 3 Baths 1,614 sqft Built 2001

$360,000

List Price

$1,720

$1.5K - $1.9K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 20, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2001
  • Price/Sqft : $223.05
  • 3 Days on Market
  • MLS # : 2279878
  • Updated Date : 03/20/2021 at 21:37
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,614 sqft
  • Baths : 2 full , 1 half
Listing Agent

Triumph Property Management Co

Listing Agent's Description

~LOCATION, LOCATION, LOCATION!~SUPER CUTE home in the HEART OF SUMMERLIN! Phenominal community with neighborhood park! Look up the GREAT SCHOOL ZONING! Moments from the 215 & not too from The Arbors Park with Tennis, Basketball, Acres of Grass and Walking Trails nearby. Walk into a SPACIOUS WARM & INVITING home w/FRESH NEW creamy greyish-beige paint throughout! GREAT sized kitchen which BOASTS tons of counter space! FRESH GORGEOUS BRAND NEW Plush CARPET & PADDING! SPACIOUS primary bedroom with LARGE walk in closet! HUGE LOFT separating the primary bedroom from the 2nd & 3rd bedrooms. Great storage throughout. NEWER WATER HEATER! HUGE backyard w/covered patio! SUPER CLEAN & MOVE IN READY!~LOCATION, LOCATION, LOCATION!

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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 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
Ethel W. Staton Elementary School Primary Regular 880 45 9
Sig Rogich Middle School Middle Regular 1,845 70 NA
Palo Verde High School High Regular 3,024 114 9

Ethel W. Staton Elementary School

  • Education Level: Primary
  • # of students: 880
  • # of teachers: 45
9
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
 

$324,000$396,000$360,000

PURCHASE PRICE

$1,548$1,892$1,720

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,720
EXPENSES Loan Payment -$1,250
Property Tax -$217
Property Insurance -$58
Property Management Fees -$119
CASH FLOW
$75

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.

$360,000

PROJECTED PRICE

$1,720

PROJECTED RENT

0.48%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.05%
Appreciation Year (1-5) 9.0%
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

PROJECTED ANNUAL CASH FLOW

11530$0.0$5.0k$10k$15k$20k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$101,150

INVESTMENT

$101,150

Down Payment
$90,000
Rehab Estimate
$5,750
Closing Costs
$5,400

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 45% down payment or higher enables the proceeds from the asset to cover all costs.

$1,250

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $90,000
Loan Amount $270,000
See What Happens When You Reinvest Cash Flow

7.17

YEARS SAVED

$31,251

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,720

    LIST RENT
  • $1.07

    LIST RENT PER SQFT
  • $1,719

    COMP ESTIMATED VALUE
  • $1.07

    COMP AVG. RENT PER SQFT
Comps Range
$1,695
1$1,6952$1,7003$1,7204$1,8355$1,840
$1,840
RENT COMPS ANALYSIS
  • 613 Bernini Street Las Vegas, NV 3
    • 3 beds 3 baths ∙ 1,614 Sqft ∙ Built 2001 3 beds 3 baths ∙ 1,614 Sqft ∙ Built 2001
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,720
    • $1.07
    •  
  • 805 Bernini Street Las Vegas, NV 1
    • 3 beds 3 baths ∙ 1,705 Sqft ∙ Built 2001 3 beds 3 baths ∙ 1,705 Sqft ∙ Built 2001
    property image
    LEASED 09/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $0.99
    •  
  • 11062 Desert Dove Avenue Las Vegas, NV 2
    • 3 beds 3 baths ∙ 1,614 Sqft ∙ Built 2001 3 beds 3 baths ∙ 1,614 Sqft ∙ Built 2001
    property image
    LEASED 12/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $1.05
    •  
  • 11035 Calder Avenue Las Vegas, NV 4
    • 3 beds 3 baths ∙ 1,705 Sqft ∙ Built 2001 3 beds 3 baths ∙ 1,705 Sqft ∙ Built 2001
    property image
    LEASED 02/01/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,835
    • $1.08
    •  
  • 11125 Rossi Avenue Las Vegas, NV 5
    • 3 beds 3 baths ∙ 1,614 Sqft ∙ Built 2001 3 beds 3 baths ∙ 1,614 Sqft ∙ Built 2001
    property image
    LEASED 02/27/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,840
    • $1.14
    •  
PROPERTY LISTING DETAILS
Kamyar Zargari
1.702.367.2323
Triumph Property Management Co
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2279878
Last Updated: 03/20/2021
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