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PROPERTY INFO
FACTS
- Single Family
- Built In 2007
- Price/Sqft : $127.96
- 7 Days on Market
- MLS # : 2254156
- Updated Date : 12/08/2020 at 00:20
CONSTRUCTION
- Beds : 5
- Floor Size : 3,140 sqft
- Baths : 3 full
Listing Agent
Re/max Central
Listing Agent's Description
WHAT A BEAUTY! Situated in lovely southwest Las Vegas this grand 3-Story home with over 3,100 Sq ft, 5 Bedrooms, 4 bathroom, 2 lofts and more. Adjacent to the living room sits the sizable family room with custom gas fireplace. The eat-in kitchen is adorned with stainless-steel appliances, lots of countertop space, and tons of storage. Large owner’s suite with ensuite bath featuring premium flooring, deep soaking tub, separate shower, dual sinks, and a large walk-in closet. The low maintenance yard features wood-look stamped concrete patio, low-maintenance artificial turf and river rock is ready for your enjoyment. Other elegant upgrades throughout makes this home a MUST SEE. DON'T MISS OUT!
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: Enterprise
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: Enterprise
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $1,890 |
| EXPENSES | Loan Payment | -$1,482 |
| Property Tax | -$306 | |
| Property Insurance | -$88 | |
| Property Management Fees | -$119 | |
|
CASH FLOW
-$105
|
||
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.
$401,799
PROJECTED PRICE
$1,890
PROJECTED RENT
0.47%
PROJECTED RENT / PRICE RATIO
| Expense Inflation | 2.50% |
| Rental Growth Year (1-5) | 4.05% |
| Appreciation Year (1-5) | 9.8% |
| 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
$112,227
LOAN DETAILS
$1,482
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 4.25% |
| Down Payment | $100,450 |
| Loan Amount | $301,349 |
4.5
YEARS SAVED
$21,624
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$1,890
LIST RENT -
$0.6
LIST RENT PER SQFT
-
$2,072
COMP ESTIMATED VALUE -
$0.66
COMP AVG. RENT PER SQFT
Comps Range
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- $1,790
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- $2,050
- $0.65
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- 5 beds 3 baths ∙ 3,140 Sqft ∙ Built 2006 5 beds 3 baths ∙ 3,140 Sqft ∙ Built 2006
LEASED 08/07/20- Rent
- Rent Per SQFT
- $2,150
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LEASED 11/04/20- Rent
- Rent Per SQFT
- $2,235
- $0.74
PROPERTY LISTING DETAILS
1.702.843.4760
Re/max Central
1.866.250.5610
Mynd Property Management
1453579
MLS #: 2254156
Last Updated: 12/08/2020
