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PROPERTY INFO
FACTS
- Single Family
- Built In 2005
- Price/Sqft : $212.58
- 4 Days on Market
- MLS # : 2261544
- Updated Date : 01/15/2021 at 18:47
CONSTRUCTION
- Beds : 3
- Floor Size : 3,387 sqft
- Baths : 2 full , 1 half
Listing Agent
1realestate Agency
Listing Agent's Description
You live in the Paseo’s in Summerlin...that alone feels like success. Pulling up to your home after a long day, you walk inside, pour yourself a drink in your beautiful custom kitchen, sit back on your plush couch, kick your tired feet up from the solid hardwood floors, and say to yourself “I made it.” Stressful day at the office? Throwing a party? Your sanctuary awaits! Slide open your 20ft glass door to your Italian inspired outdoor oasis, complete with a fountain of tranquility. Encompassing nearly 3400 sqft of peace and serenity, you can truly look forward to being home every single day. When you’re ready to rest your tired eyes, head to your master suite and relax on your open-air balcony, or enjoy a hot steamy bath in your oversized jacuzzi tub. It’s 2021, you've worked so hard and you deserve not one but two bonus rooms to do whatever you shall please! Guests you say? Your company can spread out in the oversized bedrooms while unwinding in the oasis that is your new home.
SEE MORE
- 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)
- 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)
PRICE & RENT TRENDS
Neighborhood: The Paseos
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: The Paseos
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $3,460 |
| EXPENSES | Loan Payment | -$2,501 |
| Property Tax | -$538 | |
| Property Insurance | -$93 | |
| Property Management Fees | -$119 | |
|
CASH FLOW
$210
|
||
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.
$719,999
PROJECTED PRICE
$3,460
PROJECTED RENT
0.48%
PROJECTED RENT / PRICE RATIO
| Expense Inflation | 2.50% |
| Rental Growth Year (1-5) | 4.05% |
| Appreciation Year (1-5) | 9.1% |
| 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
$196,550
LOAN DETAILS
$2,501
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 3.75% |
| Down Payment | $180,000 |
| Loan Amount | $539,999 |
7.42
YEARS SAVED
$67,025
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$3,460
LIST RENT -
$1.02
LIST RENT PER SQFT
-
$3,641
COMP ESTIMATED VALUE -
$1.08
COMP AVG. RENT PER SQFT
Comps Range
-
931 Serena Veneda Lane Las Vegas, NV 1
- 3 beds 3 baths ∙ 3,387 Sqft ∙ Built 2005 3 beds 3 baths ∙ 3,387 Sqft ∙ Built 2005
- Rent
- Rent Per SQFT
- $3,460
- $1.02
-
948 White Feather Las Vegas, NV 2
- 4 beds 3 baths ∙ 3,423 Sqft ∙ Built 2005 4 beds 3 baths ∙ 3,423 Sqft ∙ Built 2005
LEASED 05/01/20- Rent
- Rent Per SQFT
- $3,500
- $1.02
-
12037 La Palmera Las Vegas, NV 3
- 4 beds 4 baths ∙ 3,387 Sqft ∙ Built 2007 4 beds 4 baths ∙ 3,387 Sqft ∙ Built 2007
LEASED 05/01/20- Rent
- Rent Per SQFT
- $3,500
- $1.03
-
12049 La Palmera Avenue Las Vegas, NV 4
- 4 beds 4 baths ∙ 3,387 Sqft ∙ Built 2006 4 beds 4 baths ∙ 3,387 Sqft ∙ Built 2006
LEASED 09/14/20- Rent
- Rent Per SQFT
- $3,800
- $1.12
-
928 White Feather Lane Las Vegas, NV 5
- 4 beds 3 baths ∙ 3,540 Sqft ∙ Built 2005 4 beds 3 baths ∙ 3,540 Sqft ∙ Built 2005
LEASED 02/13/20- Rent
- Rent Per SQFT
- $3,995
- $1.13
PROPERTY LISTING DETAILS
1.702.300.7255
1realestate Agency
1.866.250.5610
Mynd Property Management
1453579
MLS #: 2261544
Last Updated: 01/15/2021
