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833 South Colina Alta Place Las Vegas, NV 89138

4 Beds 3 Baths 2,648 sqft Built 2005

$560,000

List Price

$2,390

$2.2K - $2.6K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 13, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2005
  • Price/Sqft : $211.48
  • 3 Days on Market
  • MLS # : 2278198
  • Updated Date : 03/13/2021 at 19:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,648 sqft
  • Baths : 3 full
Listing Agent

Keller Williams Vip

Listing Agent's Description

Live in luxury with this beautifully upgraded home. Freshly renovated full bath upstairs, master bedroom flooring, master bathroom and closet renovated (new flooring/sinks/vanity/mirrors/paint/vanity lights). Spectacular 4 bedroom with DEN in the heart of Summerlin. Open floor plan, amazing location. Oversized master bedroom with balcony. Highly desirable lot backing up to trail. Across the street from Paseos Park. New Hot Tub and pergola (April 2020) in back yard! Iconic Red Rock Mountains near by. Access to downtown Summerlin and all the commodities Summerlin has to offer! Tesla solar panels recently installed (December 2019) 7.6kw system. Shutters throughout! Amazing mountain views from balcony.

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: The Paseos

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450k500kPrice in $119k545k

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

Neighborhood: The Paseos

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21200140016001800200022002400260028003000Rent in $10763057

* 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
Billy And Rosemary Vassiliadis Elementary School Primary Unknown NA
Sig Rogich Middle School Middle Regular 1,845 70 NA
Palo Verde High School High Regular 3,024 114 9

Billy And Rosemary Vassiliadis Elementary School

  • Education Level: Primary
  • # of students:
  • # of teachers:
NA
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
 

$504,000$616,000$560,000

PURCHASE PRICE

$2,151$2,629$2,390

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,390
EXPENSES Loan Payment -$1,945
Property Tax -$388
Property Insurance -$78
Property Management Fees -$119
CASH FLOW
-$140

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.

$560,000

PROJECTED PRICE

$2,390

PROJECTED RENT

0.43%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.05%
Appreciation Year (1-5) 9.1%
Maintenance Year (1-5) 8.00%
Vacancy 7.57%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$500k$1.0M$1.5M$2.0M

PROJECTED ANNUAL CASH FLOW

11530-$5.0k$0.0$5.0k$10k$15k$20k$25k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M$1.6M$1.8M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$154,150

INVESTMENT

$154,150

Down Payment
$140,000
Rehab Estimate
$5,750
Closing Costs
$8,400

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 50% down payment or higher enables the proceeds from the asset to cover all costs.

$1,945

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $140,000
Loan Amount $420,000
See What Happens When You Reinvest Cash Flow

4.42

YEARS SAVED

$24,846

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,390

    LIST RENT
  • $0.9

    LIST RENT PER SQFT
  • $2,542

    COMP ESTIMATED VALUE
  • $0.96

    COMP AVG. RENT PER SQFT
Comps Range
$2,095
1$2,0952$2,3503$2,3904$2,5955$2,595
$2,595
RENT COMPS ANALYSIS
  • 833 South Colina Alta Place Las Vegas, NV 3
    • 4 beds 3 baths ∙ 2,648 Sqft ∙ Built 2005 4 beds 3 baths ∙ 2,648 Sqft ∙ Built 2005
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,390
    • $0.90
    •  
  • 832 Paseo Cerro Place Las Vegas, NV 1
    • 4 beds 3 baths ∙ 2,516 Sqft ∙ Built 2004 4 beds 3 baths ∙ 2,516 Sqft ∙ Built 2004
    property image
    LEASED 06/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,095
    • $0.83
    •  
  • 921 Tudela Court Las Vegas, NV 2
    • 4 beds 2 baths ∙ 2,474 Sqft ∙ Built 2005 4 beds 2 baths ∙ 2,474 Sqft ∙ Built 2005
    property image
    LEASED 07/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,350
    • $0.95
    •  
  • 824 Colina Alta Place Las Vegas, NV 4
    • 4 beds 3 baths ∙ 2,516 Sqft ∙ Built 2005 4 beds 3 baths ∙ 2,516 Sqft ∙ Built 2005
    property image
    LEASED 11/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,595
    • $1.03
    •  
  • 12036 Prada Verde Drive Las Vegas, NV 5
    • 4 beds 3 baths ∙ 2,516 Sqft ∙ Built 2005 4 beds 3 baths ∙ 2,516 Sqft ∙ Built 2005
    property image
    LEASED 02/06/21
    • Rent
    • Rent Per SQFT
    •  
    • $2,595
    • $1.03
    •  
PROPERTY LISTING DETAILS
Brendan Swanson
1.702.265.3859
Keller Williams Vip
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2278198
Last Updated: 03/13/2021
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