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PROPERTY INFO
FACTS
- Single Family
- Built In 1977
- Price/Sqft : $203.32
- 3 Days on Market
- MLS # : 2255171
- Updated Date : 12/11/2020 at 16:30
CONSTRUCTION
- Beds : 3
- Floor Size : 1,564 sqft
- Baths : 2 full
Listing Agent
Urban Nest Realty
Listing Agent's Description
Beautiful newly renovated home in great location, close to the strip and shopping. Vaulted ceilings greet you as you walk through the front door to this family room with a large window that brings in lots of light, a cozy wood burning fireplace, the striking eat in kitchen, the new Stainless Steel appliances shine like the jewelry of the kitchen, quartz counters and a huge quartz covered breakfast bar with room for seating, your sink is under the kitchen window so you can view your beautiful manicured back garden. The main bedroom is huge and has a massive closet, a sliding door leads you to a covered patio, the ensuite bathroom has a large tiled walk-in shower. Bedrooms 2 and 3 are large with wain-in closets. The interior laundry features front loading washer and dryer. Your private back garden is fully fenced with grass, mature rose bushes, lantanas, and pomegranate tree. No SIDS/LIDS or HOA's.
SEE MORE
- 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)
- 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)
PRICE & RENT TRENDS
Neighborhood: Spring Valley
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: Spring Valley
* 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 | -$1,173 |
| Property Tax | -$135 | |
| Property Insurance | -$58 | |
| Property Management Fees | -$119 | |
|
CASH FLOW
-$54
|
||
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.
$318,000
PROJECTED PRICE
$1,430
PROJECTED RENT
0.45%
PROJECTED RENT / PRICE RATIO
| Expense Inflation | 2.50% |
| Rental Growth Year (1-5) | 3.96% |
| Appreciation Year (1-5) | 9.9% |
| Maintenance Year (1-5) | 8.00% |
| Vacancy | 7.63% |
| 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
$90,020
LOAN DETAILS
$1,173
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 4.25% |
| Down Payment | $79,500 |
| Loan Amount | $238,500 |
5.33
YEARS SAVED
$20,951
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 -
$0.91
LIST RENT PER SQFT
-
$1,490
COMP ESTIMATED VALUE -
$0.95
COMP AVG. RENT PER SQFT
Comps Range
-
6162 Pinewood Avenue Las Vegas, NV 3
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- Rent
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5898 Twain Avenue Las Vegas, NV 1
- 3 beds 1 baths ∙ 1,523 Sqft ∙ Built 1979 3 beds 1 baths ∙ 1,523 Sqft ∙ Built 1979
LEASED 12/27/19- Rent
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- $1,295
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6374 Whippoorwill Way Las Vegas, NV 2
- 3 beds 2 baths ∙ 1,397 Sqft ∙ Built 1977 3 beds 2 baths ∙ 1,397 Sqft ∙ Built 1977
LEASED 09/23/20- Rent
- Rent Per SQFT
- $1,300
- $0.93
-
3631 Edinburgh Drive Las Vegas, NV 4
- 3 beds 1 baths ∙ 1,724 Sqft ∙ Built 1985 3 beds 1 baths ∙ 1,724 Sqft ∙ Built 1985
LEASED 12/01/20- Rent
- Rent Per SQFT
- $1,595
- $0.93
-
3964 Zapotec Las Vegas, NV 5
- 4 beds 2 baths ∙ 1,526 Sqft ∙ Built 1984 4 beds 2 baths ∙ 1,526 Sqft ∙ Built 1984
LEASED 03/28/20- Rent
- Rent Per SQFT
- $1,675
- $1.10
PROPERTY LISTING DETAILS
1.702.523.2948
Urban Nest Realty
1.866.250.5610
Mynd Property Management
1453579
MLS #: 2255171
Last Updated: 12/11/2020
