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PROPERTY INFO
FACTS
- Single Family
- Built In 2006
- Price/Sqft : $199.53
- 3 Days on Market
- MLS # : 2269658
- Updated Date : 02/19/2021 at 23:30
CONSTRUCTION
- Beds : 3
- Floor Size : 1,278 sqft
- Baths : 2 full , 1 half
Listing Agent
Signature Real Estate Group
Listing Agent's Description
**THIS HOME IS LOCATED IN THE GRAND CANYONE TERRACE COMMUNITY IN THE NORTHWEST CLOSE TO THE 95 AND SKYE CANYON*TANDEM 2 CAR DEEP GARAGE*KITCHEN HAS GRANITE COUNTERTOPS*WOODLIKE FLOORS DOWNSTAIRS*3 BEDROOMS UPSTAIRS*LARGE MASTER BEDROOM WITH ITS OWN BATHROOM AND EXTRA LARGE CLOSET*QUAINT RETREAT BACKYARD*SPACE BETWEEN WEST SIDE NEIGHBOR AND THIS HOME*AWESOME LOCATION, CLOSE TO MOUNT CHARLESTON RECREATION AREA, SKYE CANYON MASTER PLANNED COMMUNITY, AND NEWER SHOPPING AREAS**
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: 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 | $1,290 |
| EXPENSES | Loan Payment | -$886 |
| Property Tax | -$181 | |
| Property Insurance | -$52 | |
| Property Management Fees | -$119 | |
|
CASH FLOW
$53
|
||
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.
$255,000
PROJECTED PRICE
$1,290
PROJECTED RENT
0.51%
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
$73,325
LOAN DETAILS
$886
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 3.75% |
| Down Payment | $63,750 |
| Loan Amount | $191,250 |
7.08
YEARS SAVED
$21,562
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$1,290
LIST RENT -
$1.01
LIST RENT PER SQFT
-
$1,211
COMP ESTIMATED VALUE -
$0.95
COMP AVG. RENT PER SQFT
Comps Range
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- $1,295
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- 3 beds 3 baths ∙ 1,342 Sqft ∙ Built 2005 3 beds 3 baths ∙ 1,342 Sqft ∙ Built 2005
LEASED 05/01/20- Rent
- Rent Per SQFT
- $1,300
- $0.97
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LEASED 09/15/20- Rent
- Rent Per SQFT
- $1,395
- $0.96
PROPERTY LISTING DETAILS
1.702.245.8569
Signature Real Estate Group
1.866.250.5610
Mynd Property Management
1453579
MLS #: 2269658
Last Updated: 02/19/2021
