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704 Pinnacle Heights Lane Las Vegas, NV 89144

4 Beds 4 Baths 3,610 sqft Built 2000

$759,950

List Price

$3,450

$3.2K - $3.7K

Rent Est.

PROPERTY INFO

November 29, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2000
  • Price/Sqft : $210.51
  • 2 Days on Market
  • MLS # : 2250073
  • Updated Date : 11/28/2020 at 20:31
CONSTRUCTION
  • Beds : 4
  • Floor Size : 3,610 sqft
  • Baths : 3 full , 1 half
Listing Agent

Coldwell Banker Premier

Listing Agent's Description

Make Summerlin your home. Eagle Rock, a guard gate Community. This community exudes pride of ownership. Rich, detailed landscape. A horticultural delight front and back. The fabled stairwell of luck connects and flows inward. This one owner house is a neutral pallet. *** with one note::: There is an inspired influence of Ralph Lauren in the family room design, from the lush landscape outside the windows to the built-in entertainment center and separate wine bar. The kitchen is centric to the living, for the home and rear yard. The rear year is a whimsical paradise of flowers, trees, and vines nurturing the patio and soothing pool/spa. Upstairs features a loft that separates two en-suite bedrooms. The primary Bedroom is oversized with a sitting room, fireplace, morning balcony, on-suite bath, separate shower, and boxed windows for natural light. Want more: Lights fixtures, fans, and painted walls have been updated over the years.

SEE MORE

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 Canyons

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450k500k550k600k650k700kPrice in $119k728k

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

Neighborhood: The Canyons

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21500200025003000350040004500Rent in $10764605

* 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
John W. Bonner Elementary School Primary Regular 859 47 10
Sig Rogich Middle School Middle Regular 1,845 70 NA
Palo Verde High School High Regular 3,024 114 9

John W. Bonner Elementary School

  • Education Level: Primary
  • # of students: 859
  • # of teachers: 47
10
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
 

$683,955$835,945$759,950

PURCHASE PRICE

$3,105$3,795$3,450

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,450
EXPENSES Loan Payment -$2,804
Property Tax -$573
Property Insurance -$97
Property Management Fees -$119
CASH FLOW
-$143

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.

$759,950

PROJECTED PRICE

$3,450

PROJECTED RENT

0.45%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.05%
Appreciation Year (1-5) 1.3%
Maintenance Year (1-5) 8.00%
Vacancy 7.57%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$500k$1.0M$1.5M$2.0M

PROJECTED ANNUAL CASH FLOW

11530$0.0$10k$20k$30k

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$207,137

INVESTMENT

$207,137

Down Payment
$189,988
Rehab Estimate
$5,750
Closing Costs
$11,399

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 50% down payment or higher enables the proceeds from the asset to cover all costs.

$2,804

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $189,988
Loan Amount $569,963
See What Happens When You Reinvest Cash Flow

5

YEARS SAVED

$46,109

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,450

    LIST RENT
  • $0.96

    LIST RENT PER SQFT
  • $3,448

    COMP ESTIMATED VALUE
  • $0.96

    COMP AVG. RENT PER SQFT
Comps Range
$2,995
1$2,9952$3,4503$3,5004$3,5005$3,814
$3,814
RENT COMPS ANALYSIS
  • 704 Pinnacle Heights Lane Las Vegas, NV 2
    • 4 beds 4 baths ∙ 3,610 Sqft ∙ Built 2000 4 beds 4 baths ∙ 3,610 Sqft ∙ Built 2000
    • Rent
    • Rent Per SQFT
    •  
    • $3,450
    • $0.96
    •  
  • 508 Proud Eagle Lane Las Vegas, NV 1
    • 5 beds 3 baths ∙ 3,634 Sqft ∙ Built 1999 5 beds 3 baths ∙ 3,634 Sqft ∙ Built 1999
    LEASED 12/20/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,995
    • $0.82
    •  
  • 225 Buteo Woods Lane #0 Las Vegas, NV 3
    • 5 beds 5 baths ∙ 3,570 Sqft ∙ Built 1999 5 beds 5 baths ∙ 3,570 Sqft ∙ Built 1999
    LEASED 11/21/19
    • Rent
    • Rent Per SQFT
    •  
    • $3,500
    • $0.98
    •  
  • 9417 Garnet Crown Avenue Las Vegas, NV 4
    • 4 beds 4 baths ∙ 3,855 Sqft ∙ Built 2000 4 beds 4 baths ∙ 3,855 Sqft ∙ Built 2000
    LEASED 09/30/19
    • Rent
    • Rent Per SQFT
    •  
    • $3,500
    • $0.91
    •  
  • 10008 Alegria Drive Las Vegas, NV 5
    • 3 beds 4 baths ∙ 3,422 Sqft ∙ Built 2000 3 beds 4 baths ∙ 3,422 Sqft ∙ Built 2000
    LEASED 10/15/19
    • Rent
    • Rent Per SQFT
    •  
    • $3,814
    • $1.11
    •  
PROPERTY LISTING DETAILS
Vickey England
1.702.595.7776
Coldwell Banker Premier
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2250073
Last Updated: 11/28/2020
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