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613 Tandoori Lane Las Vegas, NV 89138

5 Beds 5 Baths 4,224 sqft Built 2006

$1,488,888

List Price

$4,610

$4.4K - $4.9K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 12, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2006
  • Price/Sqft : $352.48
  • 4 Days on Market
  • MLS # : 2276073
  • Updated Date : 03/14/2021 at 01:23
CONSTRUCTION
  • Beds : 5
  • Floor Size : 4,224 sqft
  • Baths : 4 full , 1 half
Listing Agent

Signature Real Estate Group

Listing Agent's Description

A must-see property! Elegant 4 Bedrms, 4 Bathrms w/Pool + CASITA, Den & Office. Located in gated community Serrano by Toll Brothers @ Paseos Summerlin. Hardwood floors & Shutters throughout. Formal Living & Dining Area. 2 Story Family room. Central Front Courtyard provides natural light to the whole house. Large Masterbdrm with sitting area,balcony & Spa like bthrm. Can accommodate a Multigeneration family with 1 Bedroom w/Bath downstairs + CASITA w/Bath. Great outdoor living space backing Paseos Park & Trail. Breathtaking Park & Mountain views. Amazing Pool & Spa, built-in BBQ & Gazebo area. Walk to 5 Star School & FoxHill Park!

SEE MORE

MARKET HIGHLIGHTS

  • 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: 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
 

$1,339,999$1,637,777$1,488,888

PURCHASE PRICE

$4,149$5,071$4,610

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $4,610
EXPENSES Loan Payment -$5,171
Property Tax -$848
Property Insurance -$109
Property Management Fees -$119
CASH FLOW
-$1,637

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.

$1,488,888

PROJECTED PRICE

$4,610

PROJECTED RENT

0.31%

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$1.0M$2.0M$3.0M$4.0M$5.0M

PROJECTED ANNUAL CASH FLOW

11530-$30k-$20k-$10k$0.0$10k$20k$30k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$1.0M$2.0M$3.0M$4.0M$5.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$400,305

INVESTMENT

$400,305

Down Payment
$372,222
Rehab Estimate
$5,750
Closing Costs
$22,333

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 65% down payment or higher enables the proceeds from the asset to cover all costs.

$5,171

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $372,222
Loan Amount $1,116,666
See What Happens When You Reinvest Cash Flow

0.67

YEARS SAVED

$3,889

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $4,610

    LIST RENT
  • $1.09

    LIST RENT PER SQFT
  • $4,689

    COMP ESTIMATED VALUE
  • $1.11

    COMP AVG. RENT PER SQFT
Comps Range
$4,200
1$4,2002$4,5003$4,6104$4,7005$4,950
$4,950
RENT COMPS ANALYSIS
  • 613 Tandoori Lane Las Vegas, NV 3
    • 5 beds 5 baths ∙ 4,224 Sqft ∙ Built 2006 5 beds 5 baths ∙ 4,224 Sqft ∙ Built 2006
    • Rent
    • Rent Per SQFT
    •  
    • $4,610
    • $1.09
    •  
  • 2198 Country Cove Court Las Vegas, NV 1
    • 4 beds 4 baths ∙ 4,124 Sqft ∙ Built 2005 4 beds 4 baths ∙ 4,124 Sqft ∙ Built 2005
    LEASED 12/27/19
    • Rent
    • Rent Per SQFT
    •  
    • $4,200
    • $1.02
    •  
  • 11511 Noors Avenue #0 Las Vegas, NV 2
    • 5 beds 5 baths ∙ 4,027 Sqft ∙ Built 2003 5 beds 5 baths ∙ 4,027 Sqft ∙ Built 2003
    LEASED 07/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $4,500
    • $1.12
    •  
  • 2032 Country Cove Court Las Vegas, NV 4
    • 4 beds 4 baths ∙ 4,107 Sqft ∙ Built 2005 4 beds 4 baths ∙ 4,107 Sqft ∙ Built 2005
    LEASED 10/05/19
    • Rent
    • Rent Per SQFT
    •  
    • $4,700
    • $1.14
    •  
  • 2022 Country Cove Court Las Vegas, NV 5
    • 4 beds 4 baths ∙ 4,274 Sqft ∙ Built 2005 4 beds 4 baths ∙ 4,274 Sqft ∙ Built 2005
    LEASED 12/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $4,950
    • $1.16
    •  
PROPERTY LISTING DETAILS
Cristina Turtula
1.702.499.1447
Signature Real Estate Group
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2276073
Last Updated: 03/14/2021
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