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624 Apricot Rose Place Las Vegas, NV 89138

4 Beds 3 Baths 2,501 sqft Built 2006

INVESTimate

$535,000

List Price

$2,320

$2,088 - $2,552

Rent Est.

$583,418  ( +9.05%)   1 YR EST. FORECAST

PROPERTY INFO

August 19, 2020 RECENTLY ADDED
FACTS
  • Built In 2006
  • Price/Sqft : $213.91
  • 8 Days on Market
  • MLS # : 2223243
  • Updated Date : 08/19/2020 at 20:37
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,501 sqft
  • Baths : 3 full
Listing Agent

Bhhs Nevada Properties

Listing Agent's Description

Beautiful home in gated community in Paseo's at Summerlin*Courtyard entry * Open floor plan w/lots of natural light* Fabulous kitchen w/granite counters & full back splash, breakfast bar, w-in pantry, eating area opens to family room with access to the back yard*Formal living & dining* Bedroom & bath downstairs* Large secondary bedrooms upstairs* Master bedroom has w-in closet, balcony great views. * Upstairs laundry w/sink & cabinets* Oasis back yard w/ sparkling pool & spa, garden area, separate space for kids to play or for entertainment. . Pavers in driveway, courtyard, & patio* Too many upgrades to list * Close to parks, schools, shopping, Downtown Summerlin, City National Arena, 20 mins to the airport, easy access to Summerlin Parkway and the 215. Must see, you won't be disappointed.

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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: The Paseos

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450k500kPrice in $119k545k

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

Neighborhood: The Paseos

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21200140016001800200022002400260028003000Rent in $10763057

* 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
Billy And Rosemary Vassiliadis Elementary School Primary Unknown NA
Sig Rogich Middle School Middle Regular 1,845 70 NA
Palo Verde High School High Regular 3,024 114 9

Billy And Rosemary Vassiliadis Elementary School

  • Education Level: Primary
  • # of students:
  • # of teachers:
NA
GreatSchools Rating

Sig Rogich Middle School

  • Education Level: Middle
  • # of students: 1,845
  • # of teachers: 70
NA
GreatSchools Rating

Palo Verde High School

  • Education Level: High
  • # of students: 3,024
  • # of teachers: 114
9
GreatSchools Rating
 

$481,500$588,500$535,000

PURCHASE PRICE

$2,088$2,552$2,320

RENT

DOWN PAYMENT
FINANCING

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

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

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

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,320
EXPENSES Loan Payment -$1,974
Property Tax -$383
Property Insurance -$76
HOA -$40
Property Management Fees -$119
CASH FLOW
-$272

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.

$535,000

PROJECTED PRICE

$2,320

PROJECTED RENT

0.43%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.05%
Appreciation Year (1-5) 9.05%
Maintenance Year (1-5) 8.00%
Vacancy 7.57%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$147,525

INVESTMENT

$147,525

Down Payment
$133,750
Rehab Estimate
$5,750
Closing Costs
$8,025

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,974

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $133,750
Loan Amount $401,250
See What Happens When You Reinvest Cash Flow

3.42

YEARS SAVED

$18,285

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,320

    LIST RENT
  • $0.93

    LIST RENT PER SQFT
  • $2,132

    COMP ESTIMATED VALUE
  • $0.85

    COMP AVG. RENT PER SQFT
Comps Range
$1,900
1$1,9002$1,9503$2,0004$2,3205$2,435
$2,435
RENT COMPS ANALYSIS
  • 624 Apricot Rose Place Las Vegas, NV 4
    • 4 beds 3 baths ∙ 2,501 Sqft ∙ Built 2006 4 beds 3 baths ∙ 2,501 Sqft ∙ Built 2006
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,320
    • $0.93
    •  
  • 11829 Love Orchid Lane Las Vegas, NV 1
    • 4 beds 3 baths ∙ 2,306 Sqft ∙ Built 2004 4 beds 3 baths ∙ 2,306 Sqft ∙ Built 2004
    property image
    LEASED 05/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,900
    • $0.82
    •  
  • 620 Apricot Rose Las Vegas, NV 2
    • 3 beds 3 baths ∙ 2,470 Sqft ∙ Built 2006 3 beds 3 baths ∙ 2,470 Sqft ∙ Built 2006
    property image
    LEASED 06/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $0.79
    •  
  • 604 Bachelor Button Street Las Vegas, NV 3
    • 3 beds 3 baths ∙ 2,470 Sqft ∙ Built 2006 3 beds 3 baths ∙ 2,470 Sqft ∙ Built 2006
    property image
    LEASED 03/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $0.81
    •  
  • 605 Bachelor Button Street Las Vegas, NV 5
    • 3 beds 3 baths ∙ 2,470 Sqft ∙ Built 2006 3 beds 3 baths ∙ 2,470 Sqft ∙ Built 2006
    property image
    LEASED 08/22/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,435
    • $0.99
    •  
PROPERTY LISTING DETAILS
Jana Shore
1.702.682.5262
Bhhs Nevada Properties
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2223243
Last Updated: 08/19/2020
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