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PROPERTY INFO
FACTS
- Single Family
- Built In 2003
- Price/Sqft : $156.88
- 5 Days on Market
- MLS # : 2256246
- Updated Date : 12/17/2020 at 11:38
CONSTRUCTION
- Beds : 4
- Floor Size : 1,976 sqft
- Baths : 2 full , 1 half
Listing Agent
Resolution Realty
Listing Agent's Description
*Fantastic 2-story home located in the lovely community of Pearl Pointe*Upon entry you'll find an open & airy great room complete with a cozy fireplace and a great space for entertaining*Fabulous newly remodeled kitchen features an island/granite slab counters/pantry & black appliances that stay*Convenient downstairs guest bedroom and 3/4 bathroom*Extensive use of laminate wood-flooring and tile*Super backyard is spacious and has room for a pool/play area/garden*Upstairs you'll find an oversized loft that could be a game/toy room/office space*Primary bedroom is large and features a walk-in closet/ceiling fans and fantastic bathroom with separate tub and shower/double sinks*Secondary bedrooms have ceilings fans and are good size!*Tile floor throughout entire upstairs*Laundry room is downstairs and washer/dryer stay*Thank you for showing this lovely home! We look forward to working with you!
SEE MORE
- 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: North Las Vegas
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: North Las Vegas
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $1,560 |
| EXPENSES | Loan Payment | -$1,144 |
| Property Tax | -$230 | |
| Property Insurance | -$65 | |
| Property Management Fees | -$119 | |
|
CASH FLOW
$2
|
||
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.
$310,000
PROJECTED PRICE
$1,560
PROJECTED RENT
0.50%
PROJECTED RENT / PRICE RATIO
| 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
PROJECTED ANNUAL CASH FLOW
PROJECTED PROPERTY VALUE
30 YEAR PROJECTION
- Appreciation
- Principal
- Loan Balance
TOTAL CASH OUT OF POCKET
INVESTMENT
$87,900
LOAN DETAILS
$1,144
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 4.25% |
| Down Payment | $77,500 |
| Loan Amount | $232,500 |
5.5
YEARS SAVED
$21,390
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$1,560
LIST RENT -
$0.79
LIST RENT PER SQFT
-
$1,517
COMP ESTIMATED VALUE -
$0.77
COMP AVG. RENT PER SQFT
Comps Range
-
625 Claxton Avenue North Las Vegas, NV 4
- 4 beds 3 baths ∙ 1,976 Sqft ∙ Built 2003 4 beds 3 baths ∙ 1,976 Sqft ∙ Built 2003
![property image]()
- Rent
- Rent Per SQFT
- $1,560
- $0.79
-
6344 Tim English Street North Las Vegas, NV 1
- 3 beds 2 baths ∙ 1,799 Sqft ∙ Built 2004 3 beds 2 baths ∙ 1,799 Sqft ∙ Built 2004
![property image]()
LEASED 05/01/20- Rent
- Rent Per SQFT
- $1,325
- $0.74
-
712 Claxton Avenue North Las Vegas, NV 2
- 4 beds 2 baths ∙ 1,976 Sqft ∙ Built 2004 4 beds 2 baths ∙ 1,976 Sqft ∙ Built 2004
![property image]()
LEASED 01/21/20- Rent
- Rent Per SQFT
- $1,395
- $0.71
-
606 Painted Opus Place #0 North Las Vegas, NV 3
- 3 beds 3 baths ∙ 1,871 Sqft ∙ Built 2002 3 beds 3 baths ∙ 1,871 Sqft ∙ Built 2002
![property image]()
LEASED 02/26/20- Rent
- Rent Per SQFT
- $1,500
- $0.80
-
6651 Majestic Pearl Place #0 North Las Vegas, NV 5
- 3 beds 3 baths ∙ 1,953 Sqft ∙ Built 2001 3 beds 3 baths ∙ 1,953 Sqft ∙ Built 2001
![property image]()
LEASED 12/19/19- Rent
- Rent Per SQFT
- $1,599
- $0.82
PROPERTY LISTING DETAILS
1.702.800.5054
Resolution Realty
1.866.250.5610
Mynd Property Management
1453579
MLS #: 2256246
Last Updated: 12/17/2020
