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PROPERTY INFO
FACTS
- Single Family
- Built In 2003
- Price/Sqft : $184.76
- 5 Days on Market
- MLS # : 2254944
- Updated Date : 12/18/2020 at 14:30
CONSTRUCTION
- Beds : 4
- Floor Size : 1,759 sqft
- Baths : 2 full , 1 half
Listing Agent
Elite Realty
Listing Agent's Description
Spring Valley location - Hacienda to the Strip good curb appeal Great Condition throughout. Garage floor epoxied pro. Floors downstairs tiled upstairs wood. Four bedroom home priced right. Back patio 940 sq ft terra-cota tile in perfect shape with a full cover to match the house. Corner lot and original owner. This one is listed right! Look for notice of Open House. Compliant with COVID -19 regulations.
SEE MORE
- 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
Neighborhood: Spring Valley
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: Spring Valley
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $1,630 |
| EXPENSES | Loan Payment | -$1,199 |
| Property Tax | -$204 | |
| Property Insurance | -$61 | |
| Property Management Fees | -$119 | |
|
CASH FLOW
$47
|
||
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.
$325,000
PROJECTED PRICE
$1,630
PROJECTED RENT
0.50%
PROJECTED RENT / PRICE RATIO
| Expense Inflation | 2.50% |
| Rental Growth Year (1-5) | 3.96% |
| Appreciation Year (1-5) | 9.9% |
| 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
$91,875
LOAN DETAILS
$1,199
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 4.25% |
| Down Payment | $81,250 |
| Loan Amount | $243,750 |
6.67
YEARS SAVED
$30,613
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$1,630
LIST RENT -
$0.93
LIST RENT PER SQFT
-
$1,623
COMP ESTIMATED VALUE -
$0.92
COMP AVG. RENT PER SQFT
Comps Range
-
8169 Dracopus Avenue Las Vegas, NV 5
- 4 beds 3 baths ∙ 1,759 Sqft ∙ Built 2003 4 beds 3 baths ∙ 1,759 Sqft ∙ Built 2003
![property image]()
- Rent
- Rent Per SQFT
- $1,630
- $0.93
-
5495 Night Swim Lane Las Vegas, NV 1
- 3 beds 2 baths ∙ 1,595 Sqft ∙ Built 1994 3 beds 2 baths ∙ 1,595 Sqft ∙ Built 1994
![property image]()
LEASED 02/01/20- Rent
- Rent Per SQFT
- $1,400
- $0.88
-
5460 Morning Swim Las Vegas, NV 2
- 3 beds 2 baths ∙ 1,594 Sqft ∙ Built 1994 3 beds 2 baths ∙ 1,594 Sqft ∙ Built 1994
![property image]()
LEASED 04/29/20- Rent
- Rent Per SQFT
- $1,400
- $0.88
-
5432 Morning Swim Lane #n/a Las Vegas, NV 3
- 3 beds 2 baths ∙ 1,595 Sqft ∙ Built 1994 3 beds 2 baths ∙ 1,595 Sqft ∙ Built 1994
![property image]()
LEASED 04/14/20- Rent
- Rent Per SQFT
- $1,450
- $0.91
-
5438 Olympic Spirit Lane Las Vegas, NV 4
- 3 beds 2 baths ∙ 1,594 Sqft ∙ Built 1994 3 beds 2 baths ∙ 1,594 Sqft ∙ Built 1994
![property image]()
LEASED 11/03/20- Rent
- Rent Per SQFT
- $1,625
- $1.02
PROPERTY LISTING DETAILS
1.702.768.7361
Elite Realty
1.866.250.5610
Mynd Property Management
1453579
MLS #: 2254944
Last Updated: 12/18/2020
