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917 Toro Canyon Lane 
Las Vegas, NV
89134
4 Beds 3 Baths 1,649 sqft
Built 1999
INVESTimate
$335,000
List Price
$94,525
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PROPERTY INFO
FACTS
- Built In 1999
- Price/Sqft : $203.15
- 10 Days on Market
- MLS # : 2222741
- Updated Date : 08/26/2020 at 00:20
CONSTRUCTION
- Beds : 4
- Floor Size : 1,649 sqft
- Baths : 2 full , 1 half
Listing Agent
Keller Williams Market Place
Listing Agent's Description
*AMAZING PROPERTY IN THE HEART OF SUMMERLIN*SPACIOUS TWO STORY*SPACIOUS TWO CAR GARAGE WITH BUILT IN STORAGE*OPEN FLOOR PLAN WITH TONS OF NATURAL LIGHTING*GATED COMMUNITY*KITCHEN RECENTLY REMODELED WITH AMPLE CABINET AND COUNTER TOP SPACE*LARGE BACKYARD WITH OPEN PATIO*PROPERTY IS LOCATED NEAR TPC SUMMERLIN, SHOPPING, DINING, ENTERTAINMENT HOSPITAL & FREEWAY ACCESS*COMMUNITY POOL/SPA*
SEE MORE
- 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)
- As the largest share, Las Vegas metro contributes to 75.1% of Nevada state's economy i.e. Gross State Product (USMayors.org, 2018)
PRICE & RENT TRENDS
Neighborhood: Santa Barbara
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: Santa Barbara
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
PROJECTED ACCUMULATED WEALTH
30 YEAR PROJECTION
- Cash Flow
- Appreciation
- Principal
PROJECTED ANNUAL CASH FLOW
PROJECTED PROPERTY VALUE
30 YEAR PROJECTION
- Appreciation
- Principal
- Loan Balance
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $1,470 |
| EXPENSES | Loan Payment | -$1,236 |
| Property Tax | -$212 | |
| Property Insurance | -$59 | |
| HOA | -$50 | |
| Property Management Fees | -$119 | |
|
CASH FLOW
-$206
|
||
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.
$335,000
PROJECTED PRICE
$1,470
PROJECTED RENT
0.44%
PROJECTED RENT / PRICE RATIO
| Expense Inflation | 2.50% |
| Rental Growth Year (1-5) | 4.05% |
| Appreciation Year (1-5) | 10.45% |
| Maintenance Year (1-5) | 8.00% |
| Vacancy | 7.57% |
| Length of Stay Years | 2 |
TOTAL CASH OUT OF POCKET
INVESTMENT
$94,525
LOAN DETAILS
$1,236
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 4.25% |
| Down Payment | $83,750 |
| Loan Amount | $251,250 |
3
YEARS SAVED
$9,224
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$1,470
LIST RENT -
$0.89
LIST RENT PER SQFT
-
$1,554
COMP ESTIMATED VALUE -
$0.94
COMP AVG. RENT PER SQFT
Comps Range
-
917 Toro Canyon Lane Las Vegas, NV 2
- 4 beds 3 baths ∙ 1,649 Sqft ∙ Built 1999 4 beds 3 baths ∙ 1,649 Sqft ∙ Built 1999
- Rent
- Rent Per SQFT
- $1,470
- $0.89
-
9320 Canalino Drive #na Las Vegas, NV 1
- 3 beds 3 baths ∙ 1,508 Sqft ∙ Built 1997 3 beds 3 baths ∙ 1,508 Sqft ∙ Built 1997
LEASED 12/02/19- Rent
- Rent Per SQFT
- $1,395
- $0.93
-
1028 Olive Mill Lane Las Vegas, NV 3
- 3 beds 2 baths ∙ 1,649 Sqft ∙ Built 1999 3 beds 2 baths ∙ 1,649 Sqft ∙ Built 1999
LEASED 03/14/20- Rent
- Rent Per SQFT
- $1,495
- $0.91
-
1108 Milpas Lane Las Vegas, NV 4
- 4 beds 3 baths ∙ 1,649 Sqft ∙ Built 1998 4 beds 3 baths ∙ 1,649 Sqft ∙ Built 1998
LEASED 02/14/20- Rent
- Rent Per SQFT
- $1,575
- $0.96
-
913 Ortega Hill Lane Las Vegas, NV 5
- 3 beds 3 baths ∙ 1,649 Sqft ∙ Built 1999 3 beds 3 baths ∙ 1,649 Sqft ∙ Built 1999
LEASED 07/22/20- Rent
- Rent Per SQFT
- $1,600
- $0.97
PROPERTY LISTING DETAILS
1.702.456.5959
Keller Williams Market Place
1.866.250.5610
Mynd Property Management
1453579
MLS #: 2222741
Last Updated: 08/26/2020
