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73 Pristine Glen Street Las Vegas, NV 89135

4 Beds 5 Baths 4,172 sqft Built 2015

$1,725,000

List Price

$6,700

$6.5K - $7K

Rent Est.

PROPERTY INFO

January 15, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2015
  • Price/Sqft : $413.47
  • 5 Days on Market
  • MLS # : 2261588
  • Updated Date : 01/15/2021 at 07:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 4,172 sqft
  • Baths : 4 full , 1 half
Listing Agent

Cornel Realty Llc

Listing Agent's Description

Highly upgraded 2 story home located in the prestigious guard gated Summerlin community of Sterling Ridge. This modern home features an open concept floor plan with 4 bedrooms, 5 bathrooms and a spacious den/media room. The gourmet kitchen includes a large island with quartz countertops & stainless steel appliances. The oversized master retreat includes a sitting area, private balcony, 2 walk in closets, & luxurious bathroom. This spectacular backyard is an entertainers paradise with a sparkling pool and spa, covered patio, and a full outdoor kitchen. Additional features include a family room with full wet bar, private courtyard with fountains, automatic shades throughout, home automation, and a 3 car garage. Check out the 3D virtual tour.

SEE MORE

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: The Ridges

NeighborhoodNIR Market*CityMarket2010Year20002019200k400k600k800k1000k1200k1400k1600kPrice in $119k1710k

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

Neighborhood: The Ridges

NeighborhoodNIR Market*CityMarket2010Year20002019 Q22000300040005000600070008000Rent in $10768996

* 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
Judy And John Goolsby Elementary School Primary Regular 807 42 10
Victoria Fertitta Middle School Middle Regular 1,472 60 NA
Durango High School High Regular 2,302 95 5

Judy And John Goolsby Elementary School

  • Education Level: Primary
  • # of students: 807
  • # of teachers: 42
10
GreatSchools Rating

Victoria Fertitta Middle School

  • Education Level: Middle
  • # of students: 1,472
  • # of teachers: 60
NA
GreatSchools Rating

Durango High School

  • Education Level: High
  • # of students: 2,302
  • # of teachers: 95
5
GreatSchools Rating
 

$1,552,500$1,897,500$1,725,000

PURCHASE PRICE

$6,030$7,370$6,700

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $6,700
EXPENSES Loan Payment -$5,992
Property Tax -$1,039
Property Insurance -$108
Property Management Fees -$119
CASH FLOW
-$557

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.

$1,725,000

PROJECTED PRICE

$6,700

PROJECTED RENT

0.39%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.75%
Appreciation Year (1-5) 1.8%
Maintenance Year (1-5) 8.00%
Vacancy 7.56%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$1.0M$2.0M$3.0M$4.0M

PROJECTED ANNUAL CASH FLOW

11530-$20k$0.0$20k$40k$60k$80k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$500k$1.0M$1.5M$2.0M$2.5M$3.0M$3.5M$4.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$462,875

INVESTMENT

$462,875

Down Payment
$431,250
Rehab Estimate
$5,750
Closing Costs
$25,875

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$5,992

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $431,250
Loan Amount $1,293,750
See What Happens When You Reinvest Cash Flow

4.58

YEARS SAVED

$82,454

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $6,700

    LIST RENT
  • $1.61

    LIST RENT PER SQFT
  • $4,381

    COMP ESTIMATED VALUE
  • $1.05

    COMP AVG. RENT PER SQFT
Comps Range
$4,100
1$4,1002$4,7003$6,700
$6,700
RENT COMPS ANALYSIS
  • 73 Pristine Glen Street Las Vegas, NV 3
    • 4 beds 5 baths ∙ 4,172 Sqft ∙ Built 2015 4 beds 5 baths ∙ 4,172 Sqft ∙ Built 2015
    • Rent
    • Rent Per SQFT
    •  
    • $6,700
    • $1.61
    •  
  • 11735 Glowing Sunset Lane Las Vegas, NV 1
    • 4 beds 5 baths ∙ 4,391 Sqft ∙ Built 2003 4 beds 5 baths ∙ 4,391 Sqft ∙ Built 2003
    LEASED 03/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $4,100
    • $0.93
    •  
  • 10761 Capesthorne Way #0 Las Vegas, NV 2
    • 5 beds 5 baths ∙ 4,016 Sqft ∙ Built 2003 5 beds 5 baths ∙ 4,016 Sqft ∙ Built 2003
    LEASED 01/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $4,700
    • $1.17
    •  
PROPERTY LISTING DETAILS
Jennifer Franco
1.702.498.0992
Cornel Realty Llc
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2261588
Last Updated: 01/15/2021
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