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617 Blooming View Avenue North Las Vegas, NV 89032

3 Beds 2 Baths 1,506 sqft Built 1997

$315,000

List Price

$1,510

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

January 30, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1997
  • Price/Sqft : $209.16
  • 2 Days on Market
  • MLS # : 2264895
  • Updated Date : 01/30/2021 at 19:12
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,506 sqft
  • Baths : 2 full
Listing Agent

Blackstone Realty & Pm

Listing Agent's Description

Simply gorgeous 1 story home w/3 bedrooms, 2 baths, 2 car gar & sparkling pool/spa! Over 1500 sq ft, this floor plan includes an eat-in kitchen featuring granite kitchen counters, under-mount stainless steel sink, fusion style faucet, stainless steel appliances w/built-in microwave & abundant storage offered in the new shaker style cabinets w/dual pantries. The kitchen overlooks the open family room accented by a cozy fireplace through the picturesque windows to the rear yard, perfect for entertainment/family time. Laminate wood floors accented by upgraded base boards throughout the living & wet areas w/new carpet in the bedrooms. The spacious owners suite w/rear yard access is separated from the guest bedrooms by the family room & includes a garden soaking tub w/separate rain shower, walk-in closet & dual sink vanity. The guest bedrooms are separated by their own bathroom. The rear yard w/covered patio, includes a storage shed, pool & built-in spa & finished stucco/painted block walls

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MARKET HIGHLIGHTS

  • 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: North Las Vegas

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260k280kPrice in $84k296k

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

Neighborhood: North Las Vegas

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21000105011001150120012501300135014001450150015501600Rent in $9651603

* 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
Dr Claude Perkins Elementary School Primary Regular 682 40 4
Marvin M Sedway Middle School Middle Regular 1,514 52 NA
Canyon Springs High School High Magnet 2,791 114 2

Dr Claude Perkins Elementary School

  • Education Level: Primary
  • # of students: 682
  • # of teachers: 40
4
GreatSchools Rating

Marvin M Sedway Middle School

  • Education Level: Middle
  • # of students: 1,514
  • # of teachers: 52
NA
GreatSchools Rating

Canyon Springs High School

  • Education Level: High
  • # of students: 2,791
  • # of teachers: 114
2
GreatSchools Rating
 

$283,500$346,500$315,000

PURCHASE PRICE

$1,359$1,661$1,510

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,510
EXPENSES Loan Payment -$1,094
Property Tax -$236
Property Insurance -$56
Property Management Fees -$119
CASH FLOW
$5

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.

$315,000

PROJECTED PRICE

$1,510

PROJECTED RENT

0.48%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.75%
Appreciation Year (1-5) 11.1%
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$16k

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$89,225

INVESTMENT

$89,225

Down Payment
$78,750
Rehab Estimate
$5,750
Closing Costs
$4,725

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,094

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $78,750
Loan Amount $236,250
See What Happens When You Reinvest Cash Flow

5.42

YEARS SAVED

$18,035

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,510

    LIST RENT
  • $1

    LIST RENT PER SQFT
  • $1,314

    COMP ESTIMATED VALUE
  • $0.87

    COMP AVG. RENT PER SQFT
Comps Range
$1,300
1$1,3002$1,3003$1,3504$1,4005$1,510
$1,510
RENT COMPS ANALYSIS
  • 617 Blooming View Avenue North Las Vegas, NV 5
    • 3 beds 2 baths ∙ 1,506 Sqft ∙ Built 1997 3 beds 2 baths ∙ 1,506 Sqft ∙ Built 1997
    • Rent
    • Rent Per SQFT
    •  
    • $1,510
    • $1.00
    •  
  • 609 Blooming View Avenue North Las Vegas, NV 1
    • 3 beds 2 baths ∙ 1,506 Sqft ∙ Built 1997 3 beds 2 baths ∙ 1,506 Sqft ∙ Built 1997
    LEASED 05/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,300
    • $0.86
    •  
  • 435 Westminster Hall Avenue #2 North Las Vegas, NV 2
    • 3 beds 3 baths ∙ 1,447 Sqft ∙ Built 2006 3 beds 3 baths ∙ 1,447 Sqft ∙ Built 2006
    LEASED 11/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,300
    • $0.90
    •  
  • 4226 Inglewood Point Street North Las Vegas, NV 3
    • 3 beds 2 baths ∙ 1,506 Sqft ∙ Built 1997 3 beds 2 baths ∙ 1,506 Sqft ∙ Built 1997
    LEASED 11/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,350
    • $0.90
    •  
  • 4305 Braeburn Glen Street #102 North Las Vegas, NV 4
    • 3 beds 3 baths ∙ 1,695 Sqft ∙ Built 2006 3 beds 3 baths ∙ 1,695 Sqft ∙ Built 2006
    LEASED 11/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,400
    • $0.83
    •  
PROPERTY LISTING DETAILS
Simone Powell
1.702.927.3382
Blackstone Realty & Pm
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2264895
Last Updated: 01/30/2021
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