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756 Mikasa Point Court Las Vegas, NV 89123

3 Beds 2 Baths 2,321 sqft Built 2001

$447,000

List Price

$1,860

$1.7K - $2K

Rent Est.

PROPERTY INFO

January 19, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2001
  • Price/Sqft : $192.59
  • 6 Days on Market
  • MLS # : 2261726
  • Updated Date : 01/23/2021 at 12:06
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,321 sqft
  • Baths : 2 full
Listing Agent

Nevada Realty Connection

Listing Agent's Description

MOVE IN ready! Clean and well maintained. Single Story Home with 3 car garage. Gated neighborhood. 3 bedrooms with mirrored closet doors. Den. Large family room with 3 way fireplace. Vaulted ceilings with crown molding. Kitchen with pantry, separate desk area, double ovens, breakfast nook, built in microwave. Laundry room. Master bathroom featuring double sinks, large bath tub and separate shower. Covered patio in backyard with low maintenance landscaping. All Appliances included as-is. THANK YOU for showing. Measurements are approximate. Please verify all information.

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: Silverado Ranch

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300kPrice in $119k305k

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

Neighborhood: Silverado Ranch

NeighborhoodNIR Market*CityMarket2010Year20002019 Q211001150120012501300135014001450150015501600Rent in $10761606

* 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 R. Beatty Elementary School Primary Regular 601 29 8
Jack L. Schofield Middle School Middle Regular 1,332 51 NA
Silverado High School High Regular 2,263 94 5

John R. Beatty Elementary School

  • Education Level: Primary
  • # of students: 601
  • # of teachers: 29
8
GreatSchools Rating

Jack L. Schofield Middle School

  • Education Level: Middle
  • # of students: 1,332
  • # of teachers: 51
NA
GreatSchools Rating

Silverado High School

  • Education Level: High
  • # of students: 2,263
  • # of teachers: 94
5
GreatSchools Rating
 

$402,300$491,700$447,000

PURCHASE PRICE

$1,674$2,046$1,860

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,860
EXPENSES Loan Payment -$1,553
Property Tax -$280
Property Insurance -$72
Property Management Fees -$119
CASH FLOW
-$164

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.

$447,000

PROJECTED PRICE

$1,860

PROJECTED RENT

0.42%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.96%
Appreciation Year (1-5) 10.2%
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

PROJECTED ANNUAL CASH FLOW

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

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$124,205

INVESTMENT

$124,205

Down Payment
$111,750
Rehab Estimate
$5,750
Closing Costs
$6,705

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,553

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $111,750
Loan Amount $335,250
See What Happens When You Reinvest Cash Flow

3.83

YEARS SAVED

$15,925

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,860

    LIST RENT
  • $0.8

    LIST RENT PER SQFT
  • $1,955

    COMP ESTIMATED VALUE
  • $0.84

    COMP AVG. RENT PER SQFT
Comps Range
$1,700
1$1,7002$1,8503$1,8604$1,9105$2,200
$2,200
RENT COMPS ANALYSIS
  • 756 Mikasa Point Court Las Vegas, NV 3
    • 3 beds 2 baths ∙ 2,321 Sqft ∙ Built 2001 3 beds 2 baths ∙ 2,321 Sqft ∙ Built 2001
    • Rent
    • Rent Per SQFT
    •  
    • $1,860
    • $0.80
    •  
  • 8742 Haviland Las Vegas, NV 1
    • 4 beds 2 baths ∙ 2,177 Sqft ∙ Built 1995 4 beds 2 baths ∙ 2,177 Sqft ∙ Built 1995
    LEASED 03/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $0.78
    •  
  • 530 Beresford Avenue Las Vegas, NV 2
    • 3 beds 3 baths ∙ 2,134 Sqft ∙ Built 1999 3 beds 3 baths ∙ 2,134 Sqft ∙ Built 1999
    LEASED 10/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $0.87
    •  
  • 672 Fontayne Las Vegas, NV 4
    • 4 beds 3 baths ∙ 2,303 Sqft ∙ Built 2002 4 beds 3 baths ∙ 2,303 Sqft ∙ Built 2002
    LEASED 04/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,910
    • $0.83
    •  
  • 1006 Coldwater Falls Way Las Vegas, NV 5
    • 4 beds 3 baths ∙ 2,485 Sqft ∙ Built 1999 4 beds 3 baths ∙ 2,485 Sqft ∙ Built 1999
    LEASED 04/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $0.89
    •  
PROPERTY LISTING DETAILS
Cheryl A Blanchard
1.702.285.0711
Nevada Realty Connection
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2261726
Last Updated: 01/23/2021
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