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71 Sunset Bay Street Las Vegas, NV 89148

3 Beds 2 Baths 2,055 sqft Built 2000

$499,999

List Price

$2,020

$1.8K - $2.2K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 05, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2000
  • Price/Sqft : $243.31
  • 5 Days on Market
  • MLS # : 2274755
  • Updated Date : 03/05/2021 at 22:52
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,055 sqft
  • Baths : 2 full
Listing Agent

Kim's Realty Solutions

Listing Agent's Description

BEAUTIFUL 1 STORY HOME IN RHODES RANCH GOLF COMMUNITY. OPEN FLOOR PLAN. HUGE SIZE COUNTER TOP AT KITCHEN. ISLAND KITCHEN COUNTER TOP. TILE FLOOR AND LAMINATED FLOOR THRU WHOLE INSIDE HOUSE. COVERED PATIO AT BACK YARD. UPGRADED WINDOW COVERINGS (HUNTER DOUGLASS BRAND) AT LIVING ROOM, DINING AREA, AND MASTER BED ROOM. CEILING FANS AT ALL BED ROOMS. CROWN MOLDING AT THE LIVING ROOM AND KITCHEN. 6 INCH BASEBOARD MOLDING THRU INSIDE HOUSE. FIRE PLACE. RHODES RANCH HOA AMENITIES INCLUDING COMMUNITY POOL, SPA, BASKETBALL COURT, TENNIS COURT AND EXERCISE ROOM.

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MARKET HIGHLIGHTS

  • 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)
  • 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)

PRICE & RENT TRENDS

Neighborhood: Rhodes Ranch

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320kPrice in $119k339k

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

Neighborhood: Rhodes Ranch

NeighborhoodNIR Market*CityMarket2010Year20002019 Q211001200130014001500160017001800Rent in $10551829

* 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
Don And Dee Snyder Elementary School Primary Unknown NA
Wilbur And Theresa Faiss Middle School Middle Regular 1,409 61 NA
Sierra Vista High School High Regular 2,396 88 4

Don And Dee Snyder Elementary School

  • Education Level: Primary
  • # of students:
  • # of teachers:
NA
GreatSchools Rating

Wilbur And Theresa Faiss Middle School

  • Education Level: Middle
  • # of students: 1,409
  • # of teachers: 61
NA
GreatSchools Rating

Sierra Vista High School

  • Education Level: High
  • # of students: 2,396
  • # of teachers: 88
4
GreatSchools Rating
 

$449,999$549,999$499,999

PURCHASE PRICE

$1,818$2,222$2,020

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,020
EXPENSES Loan Payment -$1,737
Property Tax -$283
Property Insurance -$67
Property Management Fees -$119
CASH FLOW
-$186

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.

$499,999

PROJECTED PRICE

$2,020

PROJECTED RENT

0.40%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

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
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M$1.6M$1.8M

PROJECTED ANNUAL CASH FLOW

11530-$5.0k$0.0$5.0k$10k$15k$20k

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$138,250

INVESTMENT

$138,250

Down Payment
$125,000
Rehab Estimate
$5,750
Closing Costs
$7,500

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$1,737

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $125,000
Loan Amount $374,999
See What Happens When You Reinvest Cash Flow

3.83

YEARS SAVED

$17,920

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,020

    LIST RENT
  • $0.98

    LIST RENT PER SQFT
  • $1,927

    COMP ESTIMATED VALUE
  • $0.94

    COMP AVG. RENT PER SQFT
Comps Range
$1,850
1$1,8502$1,9193$1,9504$2,0205$2,195
$2,195
RENT COMPS ANALYSIS
  • 71 Sunset Bay Street Las Vegas, NV 4
    • 3 beds 2 baths ∙ 2,055 Sqft ∙ Built 2000 3 beds 2 baths ∙ 2,055 Sqft ∙ Built 2000
    • Rent
    • Rent Per SQFT
    •  
    • $2,020
    • $0.98
    •  
  • 107 Stockton Kings Court Las Vegas, NV 1
    • 3 beds 3 baths ∙ 2,126 Sqft ∙ Built 2017 3 beds 3 baths ∙ 2,126 Sqft ∙ Built 2017
    LEASED 07/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $0.87
    •  
  • 7751 Alder Landing Street Las Vegas, NV 2
    • 4 beds 3 baths ∙ 2,114 Sqft ∙ Built 2018 4 beds 3 baths ∙ 2,114 Sqft ∙ Built 2018
    LEASED 12/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,919
    • $0.91
    •  
  • 141 Fox Lake Avenue Las Vegas, NV 3
    • 3 beds 3 baths ∙ 2,005 Sqft ∙ Built 2002 3 beds 3 baths ∙ 2,005 Sqft ∙ Built 2002
    LEASED 11/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $0.97
    •  
  • 42 Navy Strauss Street Las Vegas, NV 5
    • 4 beds 2 baths ∙ 2,200 Sqft ∙ Built 2018 4 beds 2 baths ∙ 2,200 Sqft ∙ Built 2018
    LEASED 07/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,195
    • $1.00
    •  
PROPERTY LISTING DETAILS
Kihun Kim
1.702.301.5178
Kim's Realty Solutions
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2274755
Last Updated: 03/05/2021
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