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PROPERTY INFO
FACTS
- Single Family
- Built In 2016
- Price/Sqft : $197.12
- 7 Days on Market
- MLS # : 2248738
- Updated Date : 11/19/2020 at 18:35
CONSTRUCTION
- Beds : 4
- Floor Size : 3,120 sqft
- Baths : 3 full
Listing Agent
Era Brokers Consolidated
Listing Agent's Description
Pics & 3D tour available by 11/19. Better than New! This 2-story home built in 2016 has been upgraded with all the fixings. SALT WATER POOL, SOLAR PANELS (owned!!), SHUTTERS throughout, modern FANS throughout,& STAINLESS APPLIANCES. Enjoy coffee on your private balcony off of the primary bedroom as you look at your MOUNTAIN VIEWS all around! This 3120 sqft home in gated community near Black Mountain has 4 oversized bdrms (1 bed down), 3 full baths, flex space for dining/office/fitness, loft & 3bay tandem garage. Kitchen features oversized granite island, large walk-in pantry, and huge mudroom/drop-zone. Upstairs laundry room w/double entry into primary closet. Storage everywhere! Rear yard equipped with covered patio, beautiful landscaping w/low-voltage lighting, pool, and plenty of patio for entertaining. NO BACKYARD NEIGHBORS!
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: McCullough Hills
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: McCullough Hills
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $2,470 |
| EXPENSES | Loan Payment | -$2,269 |
| Property Tax | -$443 | |
| Property Insurance | -$88 | |
| Property Management Fees | -$119 | |
|
CASH FLOW
-$449
|
||
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.
$615,000
PROJECTED PRICE
$2,470
PROJECTED RENT
0.40%
PROJECTED RENT / PRICE RATIO
| Expense Inflation | 2.50% |
| Rental Growth Year (1-5) | 4.05% |
| Appreciation Year (1-5) | 9.5% |
| 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
$168,725
LOAN DETAILS
$2,269
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 4.25% |
| Down Payment | $153,750 |
| Loan Amount | $461,250 |
2.33
YEARS SAVED
$11,986
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$2,470
LIST RENT -
$0.79
LIST RENT PER SQFT
-
$2,457
COMP ESTIMATED VALUE -
$0.79
COMP AVG. RENT PER SQFT
Comps Range
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- $2,750
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PROPERTY LISTING DETAILS
1.702.810.7816
Era Brokers Consolidated
1.866.250.5610
Mynd Property Management
1453579
MLS #: 2248738
Last Updated: 11/19/2020
