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789 Thistle Fairway Street Las Vegas, NV 89138

4 Beds 4 Baths 3,370 sqft Built 2020

$1,657,091

List Price

$3,090

$2.8K - $3.3K

Rent Est.

PROPERTY INFO

Built 2020 NEW CONSTRUCTION
February 06, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2020
  • Price/Sqft : $491.72
  • 4 Days on Market
  • MLS # : 2268226
  • Updated Date : 02/06/2021 at 05:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 3,370 sqft
  • Baths : 3 full , 1 half
Listing Agent

Real Estate Consultants Of Nv

Listing Agent's Description

** STUNNING RICHMOND AMERICAN LUXURY MODEL HOME IN SUMMERLIN ** - Model home -- multi-slide doors at great room and dining room, spa shower w/free-standing tub at master bath, additional and upgraded insulation, coffered ceilings throughout, french doors and bookcase at study, Professional lite stainless-steel kitchen pkg., Pro Signature maple cabinets w/white icing finish and door hardware, pantry and master closet organizers, upgraded quartz bath, laundry, hall, and kitchen countertops; upgraded luxe gold bath faucets and accessories, upgraded carpet at bedrooms; upgraded 12"x24" ceramic tile flooring throughout remainder of home; laundry sink and cabinets, washer/dryer, ceiling fans, home theater pkg., security system, complete landscaping, + much more!

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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)

PRICE & RENT TRENDS

Zip Code: 89138

ZipNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450kPrice in $119k476k

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

Zip Code: 89138

ZipNIR Market*CityMarket2010Year20002019 Q21200140016001800200022002400Rent in $10762575

* 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
Ethel W. Staton Elementary School Primary Regular 880 45 9
Sig Rogich Middle School Middle Regular 1,845 70 NA
Palo Verde High School High Regular 3,024 114 9

Ethel W. Staton Elementary School

  • Education Level: Primary
  • # of students: 880
  • # of teachers: 45
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
 

$1,491,382$1,822,800$1,657,091

PURCHASE PRICE

$2,781$3,399$3,090

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,090
EXPENSES Loan Payment -$5,756
Property Tax -$232
Property Insurance -$92
Property Management Fees -$119
CASH FLOW
-$3,109

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 11% of earned rent to cover both maintenance and periods of vacancy.

$1,657,091

PROJECTED PRICE

$3,090

PROJECTED RENT

0.19%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.05%
Appreciation Year (1-5) 8.1%
Maintenance Year (1-5) 3.00%
Vacancy 7.57%
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$5.0M

PROJECTED ANNUAL CASH FLOW

11530-$40k-$30k-$20k-$10k$0.0

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$1.0M$2.0M$3.0M$4.0M$5.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$441,129

INVESTMENT

$441,129

Down Payment
$414,273
Rehab Estimate
$2,000
Closing Costs
$24,856

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 75% down payment or higher enables the proceeds from the asset to cover all costs.

$5,756

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $414,273
Loan Amount $1,242,818
See What Happens When You Reinvest Cash Flow

0.08

YEARS SAVED

$92

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,090

    LIST RENT
  • $0.92

    LIST RENT PER SQFT
  • $3,673

    COMP ESTIMATED VALUE
  • $1.09

    COMP AVG. RENT PER SQFT
Comps Range
$3,090
1$3,0902$3,4503$3,5004$3,9955$3,995
$3,995
RENT COMPS ANALYSIS
  • 789 Thistle Fairway Street Las Vegas, NV 1
    • 4 beds 4 baths ∙ 3,370 Sqft ∙ Built 2020 4 beds 4 baths ∙ 3,370 Sqft ∙ Built 2020
    • Rent
    • Rent Per SQFT
    •  
    • $3,090
    • $0.92
    •  
  • 12282 Bluebird Canyon Place Las Vegas, NV 2
    • 4 beds 3 baths ∙ 3,320 Sqft ∙ Built 2006 4 beds 3 baths ∙ 3,320 Sqft ∙ Built 2006
    LEASED 02/03/21
    • Rent
    • Rent Per SQFT
    •  
    • $3,450
    • $1.04
    •  
  • 948 White Feather Las Vegas, NV 3
    • 4 beds 3 baths ∙ 3,423 Sqft ∙ Built 2005 4 beds 3 baths ∙ 3,423 Sqft ∙ Built 2005
    LEASED 05/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,500
    • $1.02
    •  
  • 928 White Feather Lane Las Vegas, NV 4
    • 4 beds 3 baths ∙ 3,540 Sqft ∙ Built 2005 4 beds 3 baths ∙ 3,540 Sqft ∙ Built 2005
    LEASED 02/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,995
    • $1.13
    •  
  • 549 Green Sage Way Las Vegas, NV 5
    • 5 beds 5 baths ∙ 3,413 Sqft ∙ Built 2013 5 beds 5 baths ∙ 3,413 Sqft ∙ Built 2013
    LEASED 01/04/21
    • Rent
    • Rent Per SQFT
    •  
    • $3,995
    • $1.17
    •  
PROPERTY LISTING DETAILS
Frank J Gargano
1.702.596.2040
Real Estate Consultants Of Nv
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2268226
Last Updated: 02/06/2021
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