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PROPERTY INFO
FACTS
- Single Family
- Built In 2003
- Price/Sqft : $158.60
- 5 Days on Market
- MLS # : 2255995
- Updated Date : 12/18/2020 at 17:06
CONSTRUCTION
- Beds : 4
- Floor Size : 2,396 sqft
- Baths : 2 full , 1 half
Listing Agent
Wardley Real Estate
Listing Agent's Description
Location! Location! This 4 bedroom home is located just outside of Summerlin South with easy access to schools, shopping, dining, hospital, water park and more. Upon entering you will find yourself in an open floorplan for all your living activities. Upstairs are your 4 bedrooms. The 4th bedroom can be used as an office or classroom as the closet doors are already primed for a writing board. Your backyard is ready for gardening and has mature fruit peach and mandarin trees. Now let's talk about the extremely low electric bill in the middle of summer. The solar system will be fully paid off at close of escrow.
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: 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 | $1,730 |
| EXPENSES | Loan Payment | -$1,402 |
| Property Tax | -$238 | |
| Property Insurance | -$74 | |
| Property Management Fees | -$119 | |
|
CASH FLOW
-$103
|
||
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.
$380,000
PROJECTED PRICE
$1,730
PROJECTED RENT
0.46%
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
$106,450
LOAN DETAILS
$1,402
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 4.25% |
| Down Payment | $95,000 |
| Loan Amount | $285,000 |
4.5
YEARS SAVED
$20,345
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$1,730
LIST RENT -
$0.72
LIST RENT PER SQFT
-
$1,755
COMP ESTIMATED VALUE -
$0.73
COMP AVG. RENT PER SQFT
Comps Range
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- Rent Per SQFT
- $1,950
- $0.79
PROPERTY LISTING DETAILS
1.702.218.5200
Wardley Real Estate
1.866.250.5610
Mynd Property Management
1453579
MLS #: 2255995
Last Updated: 12/18/2020
