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PROPERTY INFO
FACTS
- Single Family
- Built In 2017
- Price/Sqft : $188.35
- 4 Days on Market
- MLS # : 2249689
- Updated Date : 11/20/2020 at 20:00
CONSTRUCTION
- Beds : 4
- Floor Size : 2,283 sqft
- Baths : 3 full
Listing Agent
Realty One Group, Inc
Listing Agent's Description
Upgrades Galore!! A beautiful home located in a gated community with security. Close to shopping, restaurants, 215 West easy access. Short drive or rider share to strip, easy access to Summerlin and much more.Whole house water softener with reverse osmosis,Upgraded stainless steel appliances Refrigerator, Dishwasher and washer dryer package, blinds for all windows,Ceiling fans in all bedrooms and Family room,Finished turf covered backyard with concrete storage and grilling area in addition to concrete pad for seating and/or fire pit,Additional outlets installed in backyard, Enclosed trash compartment area with cement pad and wooden privacy fence,Ring security alarm system and cameras with solar batteries,Nexia indoor video camera, Nexia remote control garage opener and mobile app,Stainless steel bird spikes on roofing,Sherwin Williams custom painted walls and garage extras of all paints for patching, upgraded padding and Mohawk carpet. Park/Pet park and lemon tree in backyard. Solar!
SEE MORE
- 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)
- 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)
PRICE & RENT TRENDS
Neighborhood: Sovana
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: Sovana
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $2,140 |
| EXPENSES | Loan Payment | -$1,587 |
| Property Tax | -$329 | |
| Property Insurance | -$71 | |
| Property Management Fees | -$119 | |
|
CASH FLOW
$34
|
||
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.
$430,000
PROJECTED PRICE
$2,140
PROJECTED RENT
0.50%
PROJECTED RENT / PRICE RATIO
| Expense Inflation | 2.50% |
| Rental Growth Year (1-5) | 3.96% |
| Appreciation Year (1-5) | 9.6% |
| Maintenance Year (1-5) | 8.00% |
| Vacancy | 7.63% |
| 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
$119,700
LOAN DETAILS
$1,587
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 4.25% |
| Down Payment | $107,500 |
| Loan Amount | $322,500 |
6.33
YEARS SAVED
$36,755
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$2,140
LIST RENT -
$0.94
LIST RENT PER SQFT
-
$2,289
COMP ESTIMATED VALUE -
$1
COMP AVG. RENT PER SQFT
Comps Range
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- $2,495
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LEASED 07/02/20- Rent
- Rent Per SQFT
- $2,499
- $1.09
PROPERTY LISTING DETAILS
1.702.861.1319
Realty One Group, Inc
1.866.250.5610
Mynd Property Management
1453579
MLS #: 2249689
Last Updated: 11/20/2020
