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PROPERTY INFO
FACTS
- Single Family
- Built In 1996
- Price/Sqft : $167.46
- 6 Days on Market
- MLS # : 2258828
- Updated Date : 01/06/2021 at 07:00
CONSTRUCTION
- Beds : 4
- Floor Size : 1,761 sqft
- Baths : 3 full
Listing Agent
Hoopes Team Realty, Inc
Listing Agent's Description
SOUGHT AFTER NEIGHBORHOOD, THE ORCHARDS! NO HOA FEES! THIS 4 BEDROOM HOME HAS A BEDROOM AND A FULL BATH DOWNSTAIRS, SPACIOUS MASTER BEDROOM AND 2 ADDITIONAL BEDROOMS UPSTAIRS WITH JACK AND JILL BATH. THIS HOME FEATURES 2STORY CEILINGS IN LIVING ROOM FOR AN OPEN FEEL. FRESHLY PAINTED 1ST FLOOR. WHITE APPLIANCES/REFRIGERATOR, WASHER AND DRYER INCLUDED. NICE FIREPLACE IN THE FAMILY RM FOR A COZY FEEL. WATER SOFTNER IN GARAGE IS INCLUDED BUT IS NOT CONNECTED. COVERED 18X12 PATIO IN BACKYARD, PLAYHOUSE INCLUDED IN SALE. VIEWS OF BIGHORN RIDGE FROM BACKYARD. SUNSCREENS ON ALL WINDOWS.
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 | $1,520 |
| EXPENSES | Loan Payment | -$1,024 |
| Property Tax | -$177 | |
| Property Insurance | -$61 | |
| Property Management Fees | -$119 | |
|
CASH FLOW
$139
|
||
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.
$294,900
PROJECTED PRICE
$1,520
PROJECTED RENT
0.52%
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
$83,899
LOAN DETAILS
$1,024
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 3.75% |
| Down Payment | $73,725 |
| Loan Amount | $221,175 |
7.67
YEARS SAVED
$29,452
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$1,520
LIST RENT -
$0.86
LIST RENT PER SQFT
-
$1,497
COMP ESTIMATED VALUE -
$0.85
COMP AVG. RENT PER SQFT
Comps Range
-
6154 Apple Orchard Drive Las Vegas, NV 3
- 4 beds 3 baths ∙ 1,761 Sqft ∙ Built 1996 4 beds 3 baths ∙ 1,761 Sqft ∙ Built 1996
- Rent
- Rent Per SQFT
- $1,520
- $0.86
-
6461 Za Zu Pitts #103 Las Vegas, NV 1
- 3 beds 3 baths ∙ 1,685 Sqft ∙ Built 2007 3 beds 3 baths ∙ 1,685 Sqft ∙ Built 2007
LEASED 05/27/20- Rent
- Rent Per SQFT
- $1,350
- $0.80
-
2745 Promontory Vista Place Las Vegas, NV 2
- 3 beds 3 baths ∙ 1,700 Sqft ∙ Built 2007 3 beds 3 baths ∙ 1,700 Sqft ∙ Built 2007
LEASED 03/20/20- Rent
- Rent Per SQFT
- $1,500
- $0.88
-
5983 Clover Canyon Lane Las Vegas, NV 4
- 4 beds 3 baths ∙ 1,886 Sqft ∙ Built 2004 4 beds 3 baths ∙ 1,886 Sqft ∙ Built 2004
LEASED 02/03/20- Rent
- Rent Per SQFT
- $1,595
- $0.85
-
5918 Sleepy Fawn Drive #n/a Las Vegas, NV 5
- 5 beds 3 baths ∙ 1,886 Sqft ∙ Built 2005 5 beds 3 baths ∙ 1,886 Sqft ∙ Built 2005
LEASED 09/25/20- Rent
- Rent Per SQFT
- $1,650
- $0.87
PROPERTY LISTING DETAILS
1.702.768.8576
Hoopes Team Realty, Inc
1.866.250.5610
Mynd Property Management
1453579
MLS #: 2258828
Last Updated: 01/06/2021
