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PROPERTY INFO
FACTS
- Single Family
- Built In 2010
- Price/Sqft : $224.91
- 2 Days on Market
- MLS # : 2256352
- Updated Date : 12/19/2020 at 15:30
CONSTRUCTION
- Beds : 4
- Floor Size : 2,112 sqft
- Baths : 2 full
Listing Agent
Realty One Group, Inc
Listing Agent's Description
Stunning single story in a beautiful, gated, Providence community! Upgraded flooring & plantation shutters throughout the home. Gorgeous kitchen with white soft close cabinets and drawers, upgraded backsplash, quartzite countertops & stainless appliances. Custom built-ins & stone fireplace in spacious family room. Large main bedroom with backyard access. Main bathroom features shower, bathtub & two vanity areas. Laundry room boasts lots of storage & a sink. Secondary bathroom is highly upgraded with tile & beautiful finishes. Spacious & low maintenece backyard finished with pavered patio, artificial turf & planters. 3 car garage!
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: Somerset at Providence
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: Somerset at Providence
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $1,980 |
| EXPENSES | Loan Payment | -$1,753 |
| Property Tax | -$351 | |
| Property Insurance | -$68 | |
| Property Management Fees | -$119 | |
|
CASH FLOW
-$310
|
||
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.
$475,000
PROJECTED PRICE
$1,980
PROJECTED RENT
0.42%
PROJECTED RENT / PRICE RATIO
| Expense Inflation | 2.50% |
| Rental Growth Year (1-5) | 4.05% |
| Appreciation Year (1-5) | 8.8% |
| 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
$131,625
LOAN DETAILS
$1,753
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 4.25% |
| Down Payment | $118,750 |
| Loan Amount | $356,250 |
2.58
YEARS SAVED
$11,642
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$1,980
LIST RENT -
$0.94
LIST RENT PER SQFT
-
$1,721
COMP ESTIMATED VALUE -
$0.82
COMP AVG. RENT PER SQFT
Comps Range
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- $1,625
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- $1,700
- $0.80
-
10639 Ostend Avenue Las Vegas, NV 3
- 3 beds 2 baths ∙ 2,142 Sqft ∙ Built 2011 3 beds 2 baths ∙ 2,142 Sqft ∙ Built 2011
LEASED 05/28/20- Rent
- Rent Per SQFT
- $1,700
- $0.79
-
7102 Brighton Village Street Las Vegas, NV 4
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LEASED 10/15/20- Rent
- Rent Per SQFT
- $1,950
- $0.91
PROPERTY LISTING DETAILS
1.702.400.2502
Realty One Group, Inc
1.866.250.5610
Mynd Property Management
1453579
MLS #: 2256352
Last Updated: 12/19/2020
