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PROPERTY INFO
FACTS
- Single Family
- Built In 2005
- Price/Sqft : $179.95
- 3 Days on Market
- MLS # : 2255236
- Updated Date : 12/11/2020 at 20:30
CONSTRUCTION
- Beds : 6
- Floor Size : 2,648 sqft
- Baths : 2 full , 1 half
Listing Agent
Exp Realty
Listing Agent's Description
VAULTED CEILINGS WITH SPACIOUS FLOOR PLAN PERFECT FOR ENTERTAINMET. WITH BALCONY AND COVERED PATIO OFF OF THE MASTER BED Perfect for outdoor living. Please enjoy this Pulte built home nestled in Escala of Summerlin West. This sought after floor plan welcomes you home as you enter through the custom gated courtyard. From the grand foyer showcasing cathedral ceilings to the main floor W/ the master suite W/balcony W/attached den/office & gorgeous views, this exquisite home has it all. The attention to detail continues though into the back yard that boasts putting green, covered balcony. Newer paint and carpet through out, this home also offers the Paseo's community park and community center and pool (next to Palo Verde high school)
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: The Paseos
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: The Paseos
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $2,330 |
| EXPENSES | Loan Payment | -$1,758 |
| Property Tax | -$360 | |
| Property Insurance | -$78 | |
| Property Management Fees | -$119 | |
|
CASH FLOW
$14
|
||
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.
$476,500
PROJECTED PRICE
$2,330
PROJECTED RENT
0.49%
PROJECTED RENT / PRICE RATIO
| 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
PROJECTED ANNUAL CASH FLOW
PROJECTED PROPERTY VALUE
30 YEAR PROJECTION
- Appreciation
- Principal
- Loan Balance
TOTAL CASH OUT OF POCKET
INVESTMENT
$132,023
LOAN DETAILS
$1,758
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 4.25% |
| Down Payment | $119,125 |
| Loan Amount | $357,375 |
6.17
YEARS SAVED
$39,300
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$2,330
LIST RENT -
$0.88
LIST RENT PER SQFT
-
$2,304
COMP ESTIMATED VALUE -
$0.87
COMP AVG. RENT PER SQFT
Comps Range
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LEASED 06/22/20- Rent
- Rent Per SQFT
- $2,300
- $0.93
PROPERTY LISTING DETAILS
1.702.324.3595
Exp Realty
1.866.250.5610
Mynd Property Management
1453579
MLS #: 2255236
Last Updated: 12/11/2020
