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619 Weathervane Court Las Vegas, NV 89110

4 Beds 4 Baths 1,783 sqft Built 1985

$290,000

List Price

$1,500

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

October 27, 2020 RECENTLY ADDED
FACTS
  • Built In 1985
  • Price/Sqft : $162.65
  • 8 Days on Market
  • MLS # : 2242396
  • Updated Date : 10/27/2020 at 16:41
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,783 sqft
  • Baths : 3 full , 1 half
Listing Agent

Realty One Group, Inc

Listing Agent's Description

Beautiful home boasting a custom studio with private entrance, gated front courtyard, vaulted ceilings, and downstairs master bedroom.

SEE MORE

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: Sunrise Manor

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260k280kPrice in $83k296k

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

Neighborhood: Sunrise Manor

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21000105011001150120012501300135014001450150015501600Rent in $9591603

* 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
Charlotte And Jerry Keller Elementary School Primary Regular 732 41 4
Charlotte And Jerry Keller Elementary School Middle Regular 732 41 4
Eldorado High School High Regular 1,920 76 1

Charlotte And Jerry Keller Elementary School

  • Education Level: Primary
  • # of students: 732
  • # of teachers: 41
4
GreatSchools Rating

Charlotte And Jerry Keller Elementary School

  • Education Level: Middle
  • # of students: 732
  • # of teachers: 41
4
GreatSchools Rating

Eldorado High School

  • Education Level: High
  • # of students: 1,920
  • # of teachers: 76
1
GreatSchools Rating
 

$261,000$319,000$290,000

PURCHASE PRICE

$1,350$1,650$1,500

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,500
EXPENSES Loan Payment -$1,070
Property Tax -$150
Property Insurance -$62
Property Management Fees -$119
CASH FLOW
$100

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.

$290,000

PROJECTED PRICE

$1,500

PROJECTED RENT

0.52%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.75%
Appreciation Year (1-5) 12.8%
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$0.0$5.0k$10k$15k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$82,600

INVESTMENT

$82,600

Down Payment
$72,500
Rehab Estimate
$5,750
Closing Costs
$4,350

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,070

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $72,500
Loan Amount $217,500
See What Happens When You Reinvest Cash Flow

7.33

YEARS SAVED

$31,073

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,500

    LIST RENT
  • $0.84

    LIST RENT PER SQFT
  • $1,458

    COMP ESTIMATED VALUE
  • $0.82

    COMP AVG. RENT PER SQFT
Comps Range
$1,299
1$1,2992$1,4503$1,5004$1,5505$1,550
$1,550
RENT COMPS ANALYSIS
  • 619 Weathervane Court Las Vegas, NV 3
    • 4 beds 4 baths ∙ 1,783 Sqft ∙ Built 1985 4 beds 4 baths ∙ 1,783 Sqft ∙ Built 1985
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $0.84
    •  
  • 5522 White Cap Street Las Vegas, NV 1
    • 4 beds 3 baths ∙ 1,623 Sqft ∙ Built 1983 4 beds 3 baths ∙ 1,623 Sqft ∙ Built 1983
    LEASED 11/13/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,299
    • $0.80
    •  
  • 5843 Sutcliffe Las Vegas, NV 2
    • 3 beds 3 baths ∙ 1,718 Sqft ∙ Built 1986 3 beds 3 baths ∙ 1,718 Sqft ∙ Built 1986
    LEASED 06/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $0.84
    •  
  • 6137 Kadena Circle Las Vegas, NV 4
    • 4 beds 3 baths ∙ 1,892 Sqft ∙ Built 1995 4 beds 3 baths ∙ 1,892 Sqft ∙ Built 1995
    LEASED 07/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $0.82
    •  
  • 6182 Halehaven Drive Las Vegas, NV 5
    • 4 beds 2 baths ∙ 1,922 Sqft ∙ Built 1997 4 beds 2 baths ∙ 1,922 Sqft ∙ Built 1997
    LEASED 09/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $0.81
    •  
PROPERTY LISTING DETAILS
Martina Lopez
1.702.475.2752
Realty One Group, Inc
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2242396
Last Updated: 10/27/2020
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