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PROPERTY INFO
FACTS
- Single Family
- Built In 2018
- Price/Sqft : $213.98
- 7 Days on Market
- MLS # : 2248142
- Updated Date : 11/19/2020 at 12:07
CONSTRUCTION
- Beds : 3
- Floor Size : 1,752 sqft
- Baths : 2 full , 1 half
Listing Agent
Re/max American Made
Listing Agent's Description
Built in 2018 and shows like new - Move In Condition! Open Floorplan with many Upgrades Thru-out! Gourmet Kitchen w/large Island Bar, Stainless Steel Appliances, Granite Countertops, Pantry & lots of extended upgraded Cabinets. Kitchen Open to Family & Dining! Family Rm with Wired Surround Sound & slider opening to Aluma Wood Covered Patio and fully Landscaped Backyard! Custom Built Staircase Railings. Upstairs has Loft in addition to 3 Br's, 2Ba's and Laundry Room. Separate Primary Bedroom Suite includes Tub & Walk-In Shower w/Bench seat, Double Sinks and spacious Walk-In Closet. Upgraded Refrigerator, Washer & Dryer Included! Ceiling Fans/Lights in ALL Bedrooms & Family Rm! Downstairs-all upgraded Tile Flooring! Garage w/Heavy Duty Ceiling Storage Racks included plus Epoxy Flooring! Attractive Pavers in Driveway and Front Walkways! Gated Community includes Park. Pool, Playground & Covered BBQ area! Easy access to Shopping,Freeways & Strip! HURRY-WON'T LAST LONG!!
SEE MORE
- 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)
- 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)
PRICE & RENT TRENDS
Neighborhood: Rhodes Ranch
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: Rhodes Ranch
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $1,620 |
| EXPENSES | Loan Payment | -$1,383 |
| Property Tax | -$276 | |
| Property Insurance | -$61 | |
| Property Management Fees | -$119 | |
|
CASH FLOW
-$219
|
||
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.
$374,900
PROJECTED PRICE
$1,620
PROJECTED RENT
0.43%
PROJECTED RENT / PRICE RATIO
| Expense Inflation | 2.50% |
| Rental Growth Year (1-5) | 3.96% |
| Appreciation Year (1-5) | 8.8% |
| Maintenance Year (1-5) | 8.00% |
| Vacancy | 7.63% |
| 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
$105,099
LOAN DETAILS
$1,383
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 4.25% |
| Down Payment | $93,725 |
| Loan Amount | $281,175 |
3.08
YEARS SAVED
$10,622
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$1,620
LIST RENT -
$0.92
LIST RENT PER SQFT
-
$1,629
COMP ESTIMATED VALUE -
$0.93
COMP AVG. RENT PER SQFT
Comps Range
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- $1,400
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8930 Whitten Park Avenue Las Vegas, NV 2
- 3 beds 3 baths ∙ 1,602 Sqft ∙ Built 2017 3 beds 3 baths ∙ 1,602 Sqft ∙ Built 2017
LEASED 03/12/20- Rent
- Rent Per SQFT
- $1,550
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6688 Gentle Cloud Court Las Vegas, NV 4
- 3 beds 3 baths ∙ 1,917 Sqft ∙ Built 2018 3 beds 3 baths ∙ 1,917 Sqft ∙ Built 2018
LEASED 06/16/20- Rent
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- $1,699
- $0.89
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8947 Whitten Park Avenue Las Vegas, NV 5
- 4 beds 2 baths ∙ 1,912 Sqft ∙ Built 2017 4 beds 2 baths ∙ 1,912 Sqft ∙ Built 2017
LEASED 12/27/19- Rent
- Rent Per SQFT
- $1,900
- $0.99
PROPERTY LISTING DETAILS
1.702.595.4636
Re/max American Made
1.866.250.5610
Mynd Property Management
1453579
MLS #: 2248142
Last Updated: 11/19/2020
