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771 Castlebridge Avenue Las Vegas, NV 89123

4 Beds 3 Baths 1,870 sqft Built 2001

$398,000

List Price

$1,750

$1.6K - $1.9K

Rent Est.

PROPERTY INFO

November 11, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2001
  • Price/Sqft : $212.83
  • 5 Days on Market
  • MLS # : 2244746
  • Updated Date : 11/11/2020 at 11:42
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,870 sqft
  • Baths : 2 full , 1 half
Listing Agent

Signature Gallery Of Homes

Listing Agent's Description

Remarkable corner lot home in Silverado Ranch with a private pool. Large living room area upon entry flowing into the open kitchen with lots of natural lighting with a window over sink. Sliding glass doors and spacious island. Kitchen is equipped with refrigerator, gas stove and microwave. Top of the staircase takes you into a bonus LOFT! All bedrooms are located upstairs with ceiling lights and fans in all of the bedrooms. Primary bedroom has lots of natural light. Primary bathroom suite has dual vanity sinks and separate soaking tub with stand alone shower. Fresh paint and new flooring throughout this beautiful home. Possible RV parking at side of home. Minutes from shopping and the Strip.

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
 

$358,200$437,800$398,000

PURCHASE PRICE

$1,575$1,925$1,750

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,750
EXPENSES Loan Payment -$1,468
Property Tax -$238
Property Insurance -$63
Property Management Fees -$119
CASH FLOW
-$139

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.

$398,000

PROJECTED PRICE

$1,750

PROJECTED RENT

0.44%

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

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$111,220

INVESTMENT

$111,220

Down Payment
$99,500
Rehab Estimate
$5,750
Closing Costs
$5,970

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,468

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $99,500
Loan Amount $298,500
See What Happens When You Reinvest Cash Flow

4.25

YEARS SAVED

$18,972

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,750

    LIST RENT
  • $0.94

    LIST RENT PER SQFT
  • $1,744

    COMP ESTIMATED VALUE
  • $0.93

    COMP AVG. RENT PER SQFT
Comps Range
$1,695
1$1,6952$1,7253$1,7504$1,7505$1,795
$1,795
RENT COMPS ANALYSIS
  • 771 Castlebridge Avenue Las Vegas, NV 4
    • 4 beds 3 baths ∙ 1,870 Sqft ∙ Built 2001 4 beds 3 baths ∙ 1,870 Sqft ∙ Built 2001
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.94
    •  
  • 9167 Cantana Street Las Vegas, NV 1
    • 3 beds 2 baths ∙ 1,720 Sqft ∙ Built 2004 3 beds 2 baths ∙ 1,720 Sqft ∙ Built 2004
    LEASED 11/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $0.99
    •  
  • 9449 Spellman Las Vegas, NV 2
    • 4 beds 3 baths ∙ 1,961 Sqft ∙ Built 1998 4 beds 3 baths ∙ 1,961 Sqft ∙ Built 1998
    LEASED 05/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,725
    • $0.88
    •  
  • 8925 Edgeworth Place Las Vegas, NV 3
    • 4 beds 3 baths ∙ 1,942 Sqft ∙ Built 1999 4 beds 3 baths ∙ 1,942 Sqft ∙ Built 1999
    LEASED 11/27/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.90
    •  
  • 9134 Cazador Las Vegas, NV 5
    • 4 beds 3 baths ∙ 1,870 Sqft ∙ Built 2001 4 beds 3 baths ∙ 1,870 Sqft ∙ Built 2001
    LEASED 06/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,795
    • $0.96
    •  
PROPERTY LISTING DETAILS
Trish Nash
1.702.331.3948
Signature Gallery Of Homes
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2244746
Last Updated: 11/11/2020
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