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PROPERTY INFO
FACTS
- Single Family
- Built In 2006
- Price/Sqft : $197.93
- 4 Days on Market
- MLS # : 2257509
- Updated Date : 12/26/2020 at 02:00
CONSTRUCTION
- Beds : 3
- Floor Size : 1,258 sqft
- Baths : 2 full , 1 half
Listing Agent
Era Brokers Consolidated
Listing Agent's Description
Tired of the rental scene, moving every year, it's time to purchase this beautiful 3 bedroom 2 and 1/2 bath single-family home. Fresh paint, minimal carpeting very well cared for home in Centennial Hills. The home has a Great kitchen with lots of counter space and plenty of cabinets for storage. Single car garage with a full driveway for secondary parking. The community has a pool, spa, and a beautiful park, close to freeways and shopping.
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: Centennial Hills
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: Centennial Hills
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $1,360 |
| EXPENSES | Loan Payment | -$919 |
| Property Tax | -$174 | |
| Property Insurance | -$52 | |
| Property Management Fees | -$119 | |
|
CASH FLOW
$96
|
||
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.
$249,000
PROJECTED PRICE
$1,360
PROJECTED RENT
0.55%
PROJECTED RENT / PRICE RATIO
| Expense Inflation | 2.50% |
| Rental Growth Year (1-5) | 4.05% |
| Appreciation Year (1-5) | 10.3% |
| 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
$71,735
LOAN DETAILS
$919
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 4.25% |
| Down Payment | $62,250 |
| Loan Amount | $186,750 |
8.08
YEARS SAVED
$30,366
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$1,360
LIST RENT -
$1.08
LIST RENT PER SQFT
-
$1,211
COMP ESTIMATED VALUE -
$0.96
COMP AVG. RENT PER SQFT
Comps Range
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9112 Gabardine Avenue Las Vegas, NV 4
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9108 Tailor Made Avenue #0 Las Vegas, NV 1
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LEASED 12/27/19- Rent
- Rent Per SQFT
- $1,220
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9140 Tailor Made Avenue #0 Las Vegas, NV 2
- 3 beds 3 baths ∙ 1,298 Sqft ∙ Built 2006 3 beds 3 baths ∙ 1,298 Sqft ∙ Built 2006
LEASED 01/30/20- Rent
- Rent Per SQFT
- $1,245
- $0.96
-
9120 Tailor Made Las Vegas, NV 3
- 3 beds 2 baths ∙ 1,298 Sqft ∙ Built 2006 3 beds 2 baths ∙ 1,298 Sqft ∙ Built 2006
LEASED 04/25/20- Rent
- Rent Per SQFT
- $1,300
- $1.00
-
9128 Palatial Palette Court Las Vegas, NV 5
- 3 beds 3 baths ∙ 1,451 Sqft ∙ Built 2006 3 beds 3 baths ∙ 1,451 Sqft ∙ Built 2006
LEASED 09/12/20- Rent
- Rent Per SQFT
- $1,375
- $0.95
PROPERTY LISTING DETAILS
1.702.499.4325
Era Brokers Consolidated
1.866.250.5610
Mynd Property Management
1453579
MLS #: 2257509
Last Updated: 12/26/2020
