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768 Tillis Place Las Vegas, NV 89138

4 Beds 3 Baths 2,538 sqft Built 2005

$685,000

List Price

$2,620

$2.4K - $2.9K

Rent Est.

PROPERTY INFO

January 07, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2005
  • Price/Sqft : $269.90
  • 8 Days on Market
  • MLS # : 2258574
  • Updated Date : 01/10/2021 at 03:49
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,538 sqft
  • Baths : 2 full , 1 half
Listing Agent

Key Realty

Listing Agent's Description

Location, Location ,Location!!! West of 215 and Charleston, just minutes away from Downtown Summerlin, Red Rock and community parks .5 STAR SCHOOL DISTR. Owner spent over 150k renovating and remodeling.But job was transferred. Luxurious Gourmet kItchen, Brand new cabinets and countertop. high-end kitchen appliances! The latest fireplace with over 20 different color flames! Marble , rain shower! pure Crystal lights in master bath! 4 bedrooms,4 baths,and ONE BED ROOM DOWNSTAIRS! Upstairs MB doors open onto a balcony overlooking to city and mountain views .Serene backyard with heated pool and spa. Amazing courtyard ! A big plus, three car garage with beautiful epoxy Floor .

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 Vistas

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450kPrice in $119k457k

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

Neighborhood: The Vistas

NeighborhoodNIR Market*CityMarket2010Year20002019 Q211001200130014001500160017001800190020002100Rent in $10762145

* 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
Linda Rankin Givens Elementary School Primary Regular 1,100 52 9
Sig Rogich Middle School Middle Regular 1,845 70 NA
Palo Verde High School High Regular 3,024 114 9

Linda Rankin Givens Elementary School

  • Education Level: Primary
  • # of students: 1,100
  • # of teachers: 52
9
GreatSchools Rating

Sig Rogich Middle School

  • Education Level: Middle
  • # of students: 1,845
  • # of teachers: 70
NA
GreatSchools Rating

Palo Verde High School

  • Education Level: High
  • # of students: 3,024
  • # of teachers: 114
9
GreatSchools Rating
 

$616,500$753,500$685,000

PURCHASE PRICE

$2,358$2,882$2,620

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,620
EXPENSES Loan Payment -$2,379
Property Tax -$452
Property Insurance -$76
Property Management Fees -$119
CASH FLOW
-$406

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.

$685,000

PROJECTED PRICE

$2,620

PROJECTED RENT

0.38%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.05%
Appreciation Year (1-5) 6.9%
Maintenance Year (1-5) 8.00%
Vacancy 7.57%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$500k$1.0M$1.5M$2.0M

PROJECTED ANNUAL CASH FLOW

11530-$10k-$5.0k$0.0$5.0k$10k$15k$20k$25k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$500k$1.0M$1.5M$2.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$187,275

INVESTMENT

$187,275

Down Payment
$171,250
Rehab Estimate
$5,750
Closing Costs
$10,275

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,379

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $171,250
Loan Amount $513,750
See What Happens When You Reinvest Cash Flow

2.67

YEARS SAVED

$14,469

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,620

    LIST RENT
  • $1.03

    LIST RENT PER SQFT
  • $2,614

    COMP ESTIMATED VALUE
  • $1.03

    COMP AVG. RENT PER SQFT
Comps Range
$2,450
1$2,4502$2,5003$2,5954$2,6205$2,800
$2,800
RENT COMPS ANALYSIS
  • 768 Tillis Place Las Vegas, NV 4
    • 4 beds 3 baths ∙ 2,538 Sqft ∙ Built 2005 4 beds 3 baths ∙ 2,538 Sqft ∙ Built 2005
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,620
    • $1.03
    •  
  • 753 Viscanio Place Las Vegas, NV 1
    • 4 beds 3 baths ∙ 2,526 Sqft ∙ Built 2005 4 beds 3 baths ∙ 2,526 Sqft ∙ Built 2005
    property image
    LEASED 08/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,450
    • $0.97
    •  
  • 11440 Via Spiga Drive #0 Las Vegas, NV 2
    • 4 beds 2 baths ∙ 2,448 Sqft ∙ Built 2005 4 beds 2 baths ∙ 2,448 Sqft ∙ Built 2005
    property image
    LEASED 10/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $1.02
    •  
  • 11445 Via Spiga Drive Las Vegas, NV 3
    • 4 beds 2 baths ∙ 2,526 Sqft ∙ Built 2005 4 beds 2 baths ∙ 2,526 Sqft ∙ Built 2005
    property image
    LEASED 12/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,595
    • $1.03
    •  
  • 11424 West Valentino Lane Las Vegas, NV 5
    • 4 beds 3 baths ∙ 2,538 Sqft ∙ Built 2005 4 beds 3 baths ∙ 2,538 Sqft ∙ Built 2005
    property image
    LEASED 04/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,800
    • $1.10
    •  
PROPERTY LISTING DETAILS
Xilian Ye
1.678.650.9215
Key Realty
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2258574
Last Updated: 01/10/2021
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