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PROPERTY INFO
FACTS
- Single Family
- Built In 2014
- Price/Sqft : $188.33
- 2 Days on Market
- MLS # : 2248384
- Updated Date : 11/14/2020 at 20:00
CONSTRUCTION
- Beds : 4
- Floor Size : 2,203 sqft
- Baths : 2 full , 1 half
Listing Agent
Resolution Realty
Listing Agent's Description
Gorgeous home in gated community. Popular upside-down floorplan, has roof top deck with 360 degree views of mountains, red rock & the strip. Home has over $37k in options including a 10k premium Chef's kitchen with dual ovens, cook-top, super island, 42" maple java cabinets, hanstone Quartz counter-tops. 2-tone paint. All rooms have ceiling fans. Tile flooring in kitchen and baths. Flooring selection still available. Pool sized lot with low maintenance backyard! 10K premium lot with amazing Mountain Views. Sq Footage is actually 2320
SEE MORE
- 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: Mountain Edge
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: Mountain Edge
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $1,790 |
| EXPENSES | Loan Payment | -$1,531 |
| Property Tax | -$298 | |
| Property Insurance | -$70 | |
| Property Management Fees | -$119 | |
|
CASH FLOW
-$228
|
||
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.
$414,900
PROJECTED PRICE
$1,790
PROJECTED RENT
0.43%
PROJECTED RENT / PRICE RATIO
| Expense Inflation | 2.50% |
| Rental Growth Year (1-5) | 4.05% |
| Appreciation Year (1-5) | 8.4% |
| Maintenance Year (1-5) | 8.00% |
| Vacancy | 7.57% |
| 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
$115,699
LOAN DETAILS
$1,531
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 4.25% |
| Down Payment | $103,725 |
| Loan Amount | $311,175 |
3.33
YEARS SAVED
$13,411
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$1,790
LIST RENT -
$0.81
LIST RENT PER SQFT
-
$1,773
COMP ESTIMATED VALUE -
$0.8
COMP AVG. RENT PER SQFT
Comps Range
-
7790 Minas Ridge Drive Las Vegas, NV 4
- 4 beds 3 baths ∙ 2,203 Sqft ∙ Built 2014 4 beds 3 baths ∙ 2,203 Sqft ∙ Built 2014
- Rent
- Rent Per SQFT
- $1,790
- $0.81
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10419 Rothorn Street Las Vegas, NV 1
- 3 beds 3 baths ∙ 2,032 Sqft ∙ Built 2007 3 beds 3 baths ∙ 2,032 Sqft ∙ Built 2007
LEASED 01/16/20- Rent
- Rent Per SQFT
- $1,695
- $0.83
-
7548 Schuders Avenue Las Vegas, NV 2
- 3 beds 3 baths ∙ 2,032 Sqft ∙ Built 2007 3 beds 3 baths ∙ 2,032 Sqft ∙ Built 2007
LEASED 11/11/20- Rent
- Rent Per SQFT
- $1,695
- $0.83
-
7420 Pepperbox Avenue Las Vegas, NV 3
- 4 beds 3 baths ∙ 2,232 Sqft ∙ Built 2011 4 beds 3 baths ∙ 2,232 Sqft ∙ Built 2011
LEASED 03/24/20- Rent
- Rent Per SQFT
- $1,750
- $0.78
-
7785 Santos Bay Court Las Vegas, NV 5
- 3 beds 3 baths ∙ 2,318 Sqft ∙ Built 2016 3 beds 3 baths ∙ 2,318 Sqft ∙ Built 2016
LEASED 01/04/20- Rent
- Rent Per SQFT
- $1,800
- $0.78
PROPERTY LISTING DETAILS
1.702.800.5054
Resolution Realty
1.866.250.5610
Mynd Property Management
1453579
MLS #: 2248384
Last Updated: 11/14/2020
