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PROPERTY INFO
FACTS
- Single Family
- Built In 2008
- Price/Sqft : $186.18
- 2 Days on Market
- MLS # : 2279528
- Updated Date : 03/20/2021 at 19:00
CONSTRUCTION
- Beds : 3
- Floor Size : 1,853 sqft
- Baths : 2 full , 1 half
Listing Agent
Love Local Real Estate
Listing Agent's Description
GREAT TWO STORY HOME BETWEEN MOUNTAINS EDGE AND SOUTHERN HIGHLANDS**FORMAL DINING ROOM**LARGE FAMILY ROOM**KITCHEN FEATURES: CUSTOM CABINETRY WITH UNDER MOUNTED LIGHTING, GRANITE COUNTER TOP, ISLAND AND STAINLESS STEEL APPLIANCES**LARGE MASTER WITH WALK IN CLOSET**MASTER BATH HAS DUAL SINKS ALONG WITH SEPARATE SHOWER AND SOAK TUB**BUILT-IN OFFICE SPACE AT THE TOP OF THE STAIRS**GREAT LAYOUT WITH LOTS OF NATURAL LIGHT **A MUST SEE
SEE MORE
- 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: Enterprise
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: Enterprise
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $1,640 |
| EXPENSES | Loan Payment | -$1,198 |
| Property Tax | -$236 | |
| Property Insurance | -$63 | |
| Property Management Fees | -$119 | |
|
CASH FLOW
$23
|
||
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.
$345,000
PROJECTED PRICE
$1,640
PROJECTED RENT
0.48%
PROJECTED RENT / PRICE RATIO
| Expense Inflation | 2.50% |
| Rental Growth Year (1-5) | 4.05% |
| Appreciation Year (1-5) | 9.8% |
| Maintenance Year (1-5) | 8.00% |
| Vacancy | 7.57% |
| 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
$97,175
LOAN DETAILS
$1,198
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 3.75% |
| Down Payment | $86,250 |
| Loan Amount | $258,750 |
6.25
YEARS SAVED
$24,813
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$1,640
LIST RENT -
$0.89
LIST RENT PER SQFT
-
$1,723
COMP ESTIMATED VALUE -
$0.93
COMP AVG. RENT PER SQFT
Comps Range
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6586 Mercutio Court Las Vegas, NV 3
- 3 beds 3 baths ∙ 1,853 Sqft ∙ Built 2008 3 beds 3 baths ∙ 1,853 Sqft ∙ Built 2008
- Rent
- Rent Per SQFT
- $1,640
- $0.89
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6442 Oak Savanna Court #0 Las Vegas, NV 1
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LEASED 10/17/20- Rent
- Rent Per SQFT
- $1,600
- $0.95
-
6447 Oak Savanna Court Las Vegas, NV 2
- 4 beds 3 baths ∙ 1,693 Sqft ∙ Built 2007 4 beds 3 baths ∙ 1,693 Sqft ∙ Built 2007
LEASED 12/11/20- Rent
- Rent Per SQFT
- $1,625
- $0.96
-
6587 Grumio Court #house Las Vegas, NV 4
- 3 beds 3 baths ∙ 1,853 Sqft ∙ Built 2007 3 beds 3 baths ∙ 1,853 Sqft ∙ Built 2007
LEASED 10/23/20- Rent
- Rent Per SQFT
- $1,650
- $0.89
-
10600 Verona Wood Street Las Vegas, NV 5
- 4 beds 3 baths ∙ 1,853 Sqft ∙ Built 2006 4 beds 3 baths ∙ 1,853 Sqft ∙ Built 2006
LEASED 09/25/20- Rent
- Rent Per SQFT
- $1,700
- $0.92
PROPERTY LISTING DETAILS
1.702.308.0836
Love Local Real Estate
1.866.250.5610
Mynd Property Management
1453579
MLS #: 2279528
Last Updated: 03/20/2021
