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PROPERTY INFO
FACTS
- Single Family
- Built In 1989
- Price/Sqft : $245.06
- 6 Days on Market
- MLS # : 2266131
- Updated Date : 02/07/2021 at 01:24
CONSTRUCTION
- Beds : 3
- Floor Size : 1,265 sqft
- Baths : 2 full
Listing Agent
Bhhs Nevada Properties
Listing Agent's Description
WELCOME HOME! ALREADY REMODELED FOR YOU WITH NEW VINYL PLANK TILE FLOORS*NEW PAINT*UPGRADED HIGH BASEBOARDS*GRANITE KITCHEN COUNTERS*PAINTED KITCHEN CABINETS WITH THE NEW DECORATING STYLE OF TWO COLORS*WOOD MANTEL ON A COZY BRICK FIREPLACE*FRONT SECURITY SCREEN DOOR FOR THOSE DAYS OF WANTING FRESH AIR*KEYLESS FRONT DOOR*BLINDS THRU OUT*CEILING FANS THRU OUT*SKYLIGHTS FOR EXTRA NATURAL LIGHT*LARGE PRIMARY BEDROOM WITH WALK IN CLOSET*NEW WASHER/DRYER THAT STAYS*EXTRA STORAGE CABINETS IN LAUNDRY AREA*GARAGE HAS STORAGE SHELVES*EXTRA CONCRETE SIDE AREA OF HOME WITH A SHED FOR TONS OF STORAGE*PLENTY OF ROOM TO ENTERTAIN FAMILY & FRIENDS WITH THE FRONT COURTYARD/PATIO AREA, BACKYARD COVERED PATIO AND PAVER FIREPIT SITTING AREA*USE YOUR IMAGINATION TO ADD TO THE DESIGN OF THE BACKYARD SO YOU CAN ENJOY YOUR OWN LITTLE PARADISE, INCLUDING A GARDEN OR SANDBOX/TOY AREA***LARGE SIDE YARD ALONG WITH A LONG DRIVEWAY TO GIVE PLENTY OF ROOM TO PARK YOUR RV/BOATS/TOYS****NO HOA****
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: Paradise
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: Paradise
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $1,430 |
| EXPENSES | Loan Payment | -$1,077 |
| Property Tax | -$140 | |
| Property Insurance | -$52 | |
| Property Management Fees | -$119 | |
|
CASH FLOW
$42
|
||
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.
$309,999
PROJECTED PRICE
$1,430
PROJECTED RENT
0.46%
PROJECTED RENT / PRICE RATIO
| Expense Inflation | 2.50% |
| Rental Growth Year (1-5) | 3.96% |
| Appreciation Year (1-5) | 9.4% |
| 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
$87,900
LOAN DETAILS
$1,077
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 3.75% |
| Down Payment | $77,500 |
| Loan Amount | $232,499 |
6.67
YEARS SAVED
$24,679
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$1,430
LIST RENT -
$1.13
LIST RENT PER SQFT
-
$1,417
COMP ESTIMATED VALUE -
$1.12
COMP AVG. RENT PER SQFT
Comps Range
-
7188 Honeysuckle Court Las Vegas, NV 4
- 3 beds 2 baths ∙ 1,265 Sqft ∙ Built 1989 3 beds 2 baths ∙ 1,265 Sqft ∙ Built 1989
- Rent
- Rent Per SQFT
- $1,430
- $1.13
-
1318 Montezuma Court #n/a Las Vegas, NV 1
- 3 beds 2 baths ∙ 1,189 Sqft ∙ Built 1986 3 beds 2 baths ∙ 1,189 Sqft ∙ Built 1986
LEASED 11/13/20- Rent
- Rent Per SQFT
- $1,295
- $1.09
-
7003 Wineberry Drive Las Vegas, NV 2
- 3 beds 1 baths ∙ 1,312 Sqft ∙ Built 1994 3 beds 1 baths ∙ 1,312 Sqft ∙ Built 1994
LEASED 07/31/20- Rent
- Rent Per SQFT
- $1,400
- $1.07
-
7147 Abbeyville Las Vegas, NV 3
- 3 beds 3 baths ∙ 1,271 Sqft ∙ Built 1983 3 beds 3 baths ∙ 1,271 Sqft ∙ Built 1983
LEASED 04/24/20- Rent
- Rent Per SQFT
- $1,425
- $1.12
-
6904 Luminary Las Vegas, NV 5
- 3 beds 1 baths ∙ 1,312 Sqft ∙ Built 1995 3 beds 1 baths ∙ 1,312 Sqft ∙ Built 1995
LEASED 03/13/20- Rent
- Rent Per SQFT
- $1,575
- $1.20
PROPERTY LISTING DETAILS
1.702.303.4717
Bhhs Nevada Properties
1.866.250.5610
Mynd Property Management
1453579
MLS #: 2266131
Last Updated: 02/07/2021
