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622 Fiddlehead Avenue Las Vegas, NV 89183

5 Beds 3 Baths 3,272 sqft Built 2003

$539,000

List Price

$2,240

$2K - $2.5K

Rent Est.

PROPERTY INFO

FACTS
  • Single Family
  • Built In 2003
  • Price/Sqft : $164.73
  • 11 Days on Market
  • MLS # : 2267701
  • Updated Date : 02/11/2021 at 18:30
CONSTRUCTION
  • Beds : 5
  • Floor Size : 3,272 sqft
  • Baths : 3 full
Listing Agent

Prominent Realty Group Llc

Listing Agent's Description

ONE OF KIND*HIDDEN GEM*AMAZING Cul De Sac home sits on .25+ ACRE LOT!! RV PARKING!! This Spectacular 2 story has so much to offer! Sit outside on the front porch & relax! The 5 bedrooms*1 Full Bath/Bdrm down*Upstairs Loft has closet; 6th bedroom idea?*3 Car Garage*Gourmet Kitchen boasts XL S/S Farmhouse sink/Insta-Hot water, Upgraded faucet*Granite counters, Newer Appliances, Island, dining nook & breakfast bar w/extra cabinet storage*B/I Intercom/sound system*Large Family, Living & Dining rooms*Upstairs Primary Bedrm XXL w/walk in closet, walk out balcony & En suite bath w/2 sinks, separate shower/garden tub*3rd Full bath Up w/2 sinks*Custom Patio cover w/ceiling fan & elegant Pavers*Putting green*HUGE 10 x12 Tuff Shed*Custom Iron gates*Plank wood like flooring, Carpet & Tile*Above ground hot tub/spa w/220 electric hook up*Ceilings fans*2 Fireplaces (Gas)*Laundry Room has Cabinets*Exterior boasts Large Rock fountain & Mature Landscape w/ fruit/shade trees*Need Space!! This is it!!

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MARKET HIGHLIGHTS

  • 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)
  • As the largest share, Las Vegas metro contributes to 75.1% of Nevada state's economy i.e. Gross State Product (USMayors.org, 2018)

PRICE & RENT TRENDS

Neighborhood: Paradise

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280kPrice in $112k296k

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

Neighborhood: Paradise

NeighborhoodNIR Market*CityMarket2010Year20002019 Q211001150120012501300135014001450150015501600Rent in $10761606

* 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
John C. Bass Elementary School Primary Regular 885 46 6
Charles Silvestri Junior High School Middle Regular 1,748 68 NA
Liberty High School High Regular 2,496 105 5

John C. Bass Elementary School

  • Education Level: Primary
  • # of students: 885
  • # of teachers: 46
6
GreatSchools Rating

Charles Silvestri Junior High School

  • Education Level: Middle
  • # of students: 1,748
  • # of teachers: 68
NA
GreatSchools Rating

Liberty High School

  • Education Level: High
  • # of students: 2,496
  • # of teachers: 105
5
GreatSchools Rating
 

$485,100$592,900$539,000

PURCHASE PRICE

$2,016$2,464$2,240

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,240
EXPENSES Loan Payment -$1,872
Property Tax -$338
Property Insurance -$91
Property Management Fees -$119
CASH FLOW
-$179

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.

$539,000

PROJECTED PRICE

$2,240

PROJECTED RENT

0.42%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.96%
Appreciation Year (1-5) 9.4%
Maintenance Year (1-5) 8.00%
Vacancy 7.63%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$500k$1.0M$1.5M$2.0M

PROJECTED ANNUAL CASH FLOW

11530-$5.0k$0.0$5.0k$10k$15k$20k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M$1.6M$1.8M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$148,585

INVESTMENT

$148,585

Down Payment
$134,750
Rehab Estimate
$5,750
Closing Costs
$8,085

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$1,872

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $134,750
Loan Amount $404,250
See What Happens When You Reinvest Cash Flow

4

YEARS SAVED

$20,245

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,240

    LIST RENT
  • $0.68

    LIST RENT PER SQFT
  • $2,372

    COMP ESTIMATED VALUE
  • $0.73

    COMP AVG. RENT PER SQFT
Comps Range
$2,100
1$2,1002$2,2403$2,2954$2,2955$2,550
$2,550
RENT COMPS ANALYSIS
  • 622 Fiddlehead Avenue Las Vegas, NV 2
    • 4 beds 3 baths ∙ 3,272 Sqft ∙ Built 2003 4 beds 3 baths ∙ 3,272 Sqft ∙ Built 2003
    • Rent
    • Rent Per SQFT
    •  
    • $2,240
    • $0.68
    •  
  • 10786 Barnard Bee Court #0 Las Vegas, NV 1
    • 5 beds 3 baths ∙ 3,254 Sqft ∙ Built 2003 5 beds 3 baths ∙ 3,254 Sqft ∙ Built 2003
    LEASED 06/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $0.65
    •  
  • 10756 Wildhurst Street Las Vegas, NV 3
    • 5 beds 3 baths ∙ 3,272 Sqft ∙ Built 2005 5 beds 3 baths ∙ 3,272 Sqft ∙ Built 2005
    LEASED 06/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,295
    • $0.70
    •  
  • 662 Hidden Cellar Court Las Vegas, NV 4
    • 5 beds 2 baths ∙ 3,136 Sqft ∙ Built 2004 5 beds 2 baths ∙ 3,136 Sqft ∙ Built 2004
    LEASED 10/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,295
    • $0.73
    •  
  • 593 Pale Pueblo Court Las Vegas, NV 5
    • 4 beds 3 baths ∙ 3,108 Sqft ∙ Built 2002 4 beds 3 baths ∙ 3,108 Sqft ∙ Built 2002
    LEASED 10/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,550
    • $0.82
    •  
PROPERTY LISTING DETAILS
Suzanne M Tidwell
1.702.349.6181
Prominent Realty Group Llc
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2267701
Last Updated: 02/11/2021
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