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855 Elmstone Place Las Vegas, NV 89138

3 Beds 3 Baths 2,260 sqft Built 2019

$482,750

List Price

$2,290

$2.1K - $2.5K

Rent Est.

PROPERTY INFO

Built 2019 NEW CONSTRUCTION
November 04, 2020 RECENTLY ADDED
FACTS
  • Built In 2019
  • Price/Sqft : $213.61
  • 6 Days on Market
  • MLS # : 2244775
  • Updated Date : 11/04/2020 at 13:19
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,260 sqft
  • Baths : 2 full , 1 half
Listing Agent

Bhhs Nevada Properties

Listing Agent's Description

Awesome Home in Caledonia in the Stonebridge area of Summerlin West / This neighborhood is directly across the street from the Brand New Summerlin Stonebridge Park / This home LOOKS Brand New!!! It was barely lived in... not even a picture hole in the wall / 3 Bedrooms plus a loft upstairs and a nice large Primary Bedroom upstairs with HUGE walk-in closet and separate Tub and Shower / ALSO nice Deck off the Primary Bedroom / Upgraded plank Flooring both upstairs and downstairs / Large Great Room and Kitchen /// Make sure to check out the Matterport Virtual Walking tour link on the virtual tour link of this home

SEE MORE

MARKET HIGHLIGHTS

  • 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

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
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
 

$434,475$531,025$482,750

PURCHASE PRICE

$2,061$2,519$2,290

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,290
EXPENSES Loan Payment -$1,781
Property Tax -$403
Property Insurance -$71
Property Management Fees -$119
CASH FLOW
-$84

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.

$482,750

PROJECTED PRICE

$2,290

PROJECTED RENT

0.47%

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$200k$400k$600k$800k$1.0M$1.2M$1.4M$1.6M

PROJECTED ANNUAL CASH FLOW

11530$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$129,929

INVESTMENT

$129,929

Down Payment
$120,688
Rehab Estimate
$2,000
Closing Costs
$7,241

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 45% down payment or higher enables the proceeds from the asset to cover all costs.

$1,781

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $120,688
Loan Amount $362,063
See What Happens When You Reinvest Cash Flow

5.08

YEARS SAVED

$29,689

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,290

    LIST RENT
  • $1.01

    LIST RENT PER SQFT
  • $2,300

    COMP ESTIMATED VALUE
  • $1.02

    COMP AVG. RENT PER SQFT
Comps Range
$2,290
1$2,2902$2,3503$2,3954$2,4005$2,450
$2,450
RENT COMPS ANALYSIS
  • 855 Elmstone Place Las Vegas, NV 1
    • 3 beds 3 baths ∙ 2,260 Sqft ∙ Built 2019 3 beds 3 baths ∙ 2,260 Sqft ∙ Built 2019
    • Rent
    • Rent Per SQFT
    •  
    • $2,290
    • $1.01
    •  
  • 910 Cherry Glen Place Las Vegas, NV 2
    • 3 beds 3 baths ∙ 2,262 Sqft ∙ Built 2018 3 beds 3 baths ∙ 2,262 Sqft ∙ Built 2018
    LEASED 11/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,350
    • $1.04
    •  
  • 12310 Fanwood Las Vegas, NV 3
    • 3 beds 3 baths ∙ 2,369 Sqft ∙ Built 2018 3 beds 3 baths ∙ 2,369 Sqft ∙ Built 2018
    LEASED 05/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,395
    • $1.01
    •  
  • 928 Tafalla Court Las Vegas, NV 4
    • 4 beds 3 baths ∙ 2,424 Sqft ∙ Built 2006 4 beds 3 baths ∙ 2,424 Sqft ∙ Built 2006
    LEASED 02/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,400
    • $0.99
    •  
  • 12318 Fanwood Las Vegas, NV 5
    • 3 beds 3 baths ∙ 2,369 Sqft ∙ Built 2018 3 beds 3 baths ∙ 2,369 Sqft ∙ Built 2018
    LEASED 06/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,450
    • $1.03
    •  
PROPERTY LISTING DETAILS
Brian E Wedewer
1.702.256.8888
Bhhs Nevada Properties
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2244775
Last Updated: 11/04/2020
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