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948 White Feather Lane Las Vegas, NV 89138

4 Beds 3 Baths 3,423 sqft Built 2005

INVESTimate

$675,000

List Price

$3,640

$3,390 - $3,890

Rent Est.

$736,088  ( +9.05%)   1 YR EST. FORECAST

PROPERTY INFO

August 19, 2020 RECENTLY ADDED
FACTS
  • Built In 2005
  • Price/Sqft : $197.20
  • 8 Days on Market
  • MLS # : 2223111
  • Updated Date : 08/21/2020 at 09:19
CONSTRUCTION
  • Beds : 4
  • Floor Size : 3,423 sqft
  • Baths : 2 full , 1 half
Listing Agent

Realty One Group Inc

Listing Agent's Description

Stunning home in gated comm. of Granada Palomar. Soaring 2 story ceiling highlights the island kitchen & family room which opens to the 2nd floor loft & full length covered patio & balcony w/ city views. 1st floor MBR plus 3 additional bedrooms up w/ 2 lofts & 2 balconies. Serene b/y w/ pool, spa & firepit. Additional highlights include: Newer HVAC, Security System w/6 cameras, pool can be solar or gas heated, tankless water heater, Seller added the spa & additional landscaping.

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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)

PRICE & RENT TRENDS

Neighborhood: The Paseos

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450k500kPrice in $119k545k

* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR

Neighborhood: The Paseos

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21200140016001800200022002400260028003000Rent in $10763057

* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR

SCHOOLS

NAME EDUCATIONAL LEVEL SCHOOL TYPE # OF STUDENTS # OF TEACHERS GREATSCHOOLS RATING
Billy And Rosemary Vassiliadis Elementary School Primary Unknown NA
Sig Rogich Middle School Middle Regular 1,845 70 NA
Palo Verde High School High Regular 3,024 114 9

Billy And Rosemary Vassiliadis Elementary School

  • Education Level: Primary
  • # of students:
  • # of teachers:
NA
GreatSchools Rating

Sig Rogich Middle School

  • Education Level: Middle
  • # of students: 1,845
  • # of teachers: 70
NA
GreatSchools Rating

Palo Verde High School

  • Education Level: High
  • # of students: 3,024
  • # of teachers: 114
9
GreatSchools Rating
 

$607,500$742,500$675,000

PURCHASE PRICE

$3,276$4,004$3,640

RENT

DOWN PAYMENT
FINANCING

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$500k$1.0M$1.5M$2.0M$2.5M

PROJECTED ANNUAL CASH FLOW

11530$0.0$10k$20k$30k$40k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$500k$1.0M$1.5M$2.0M

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,640
EXPENSES Loan Payment -$2,490
Property Tax -$536
Property Insurance -$93
HOA -$25
Property Management Fees -$119
CASH FLOW
$376

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.

$675,000

PROJECTED PRICE

$3,640

PROJECTED RENT

0.54%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.05%
Appreciation Year (1-5) 9.05%
Maintenance Year (1-5) 8.00%
Vacancy 7.57%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$184,625

INVESTMENT

$184,625

Down Payment
$168,750
Rehab Estimate
$5,750
Closing Costs
$10,125

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 40% down payment or higher enables the proceeds from the asset to cover all costs.

$2,490

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $168,750
Loan Amount $506,250
See What Happens When You Reinvest Cash Flow

8.75

YEARS SAVED

$95,640

INTEREST SAVED

CASH FLOW REINVESTMENT

The time & interest saved by applying each month's positive cash flow towards loan principal pay down.

  • $3,640

    LIST RENT
  • $1.06

    LIST RENT PER SQFT
  • $3,646

    COMP ESTIMATED VALUE
  • $1.07

    COMP AVG. RENT PER SQFT
Comps Range
$3,500
1$3,5002$3,5003$3,5004$3,6405$3,995
$3,995
RENT COMPS ANALYSIS
  • 948 White Feather Lane Las Vegas, NV 4
    • 4 beds 3 baths ∙ 3,423 Sqft ∙ Built 2005 4 beds 3 baths ∙ 3,423 Sqft ∙ Built 2005
    • Rent
    • Rent Per SQFT
    •  
    • $3,640
    • $1.06
    •  
  • 12284 Lost Treasure Avenue Las Vegas, NV 1
    • 4 beds 2 baths ∙ 3,245 Sqft ∙ Built 2014 4 beds 2 baths ∙ 3,245 Sqft ∙ Built 2014
    LEASED 03/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,500
    • $1.08
    •  
  • 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
    •  
  • 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
Donna M Lefever
1.702.279.7663
Realty One Group Inc
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2223111
Last Updated: 08/21/2020
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