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PROPERTY INFO
FACTS
- Single Family
- Built In 2006
- Price/Sqft : $231.11
- 3 Days on Market
- MLS # : 2248969
- Updated Date : 11/20/2020 at 12:00
CONSTRUCTION
- Beds : 4
- Floor Size : 2,899 sqft
- Baths : 3 full
Listing Agent
Galindo Group Real Estate
Listing Agent's Description
RARE FIND! 1/2 ACRE CUSTOM BUILT SINGLE STORY HOME, NO HOA, 2,899 SQ FT + 407 SQ FT DETACHED CASITA, 3 CAR GARAGE, 82FT RV PARKING WITH RV GATE AND ADDITIONAL RV PARKING IN REAR. WALK INTO AN OPEN-AIR COURTYARD WITH A FIRE PLACE AND SITTING AREA. COURTYARD HAS A DETACHED CASITA THAT BOASTS A KITCHENETTE, WALK IN SHOWER, AND WALK IN CLOSET. STROLL THROUGH THE DOUBLE FRONT DOORS INTO AN OPEN LIVING ROOM WITH BUILT IN SURROUND SOUND AND FIREPLACE. HEAD INTO THE KITCHEN THAT HAS DOUBLE OVENS, WET BAR, AN ISLAND WITH AN ADDITIONAL SINK, AND DINING ROOM AREA. LAUNDRY ROOM FEATURES UPPER AND LOWER CABINETS, SINK, AND TALL VAULTED CEILINGS. THE ENTIRE HOME HAS CUSTOM SHUTTERS AND TILE THROUGHOUT (NO CARPET). STEP INTO THE POOL-SIZED BACKYARD THAT HAS A COVERED PATIO, RV GATE, AND NO REAR NEIGHBORS. ADDITIONAL STORAGE ROOM BUILT ONTO THE GARAGE ACCESSIBLE IN THE BACKYARD.
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: 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 | $2,410 |
| EXPENSES | Loan Payment | -$2,472 |
| Property Tax | -$517 | |
| Property Insurance | -$83 | |
| Property Management Fees | -$119 | |
|
CASH FLOW
-$781
|
||
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.
$670,000
PROJECTED PRICE
$2,410
PROJECTED RENT
0.36%
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
$183,300
LOAN DETAILS
$2,472
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 4.25% |
| Down Payment | $167,500 |
| Loan Amount | $502,500 |
0.67
YEARS SAVED
$2,120
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$2,410
LIST RENT -
$0.83
LIST RENT PER SQFT
-
$2,247
COMP ESTIMATED VALUE -
$0.78
COMP AVG. RENT PER SQFT
Comps Range
-
9675 Elkhorn Road Las Vegas, NV 5
- 4 beds 3 baths ∙ 2,899 Sqft ∙ Built 2006 4 beds 3 baths ∙ 2,899 Sqft ∙ Built 2006
- Rent
- Rent Per SQFT
- $2,410
- $0.83
-
9426 Quiet Valley Avenue Las Vegas, NV 1
- 5 beds 4 baths ∙ 2,838 Sqft ∙ Built 2004 5 beds 4 baths ∙ 2,838 Sqft ∙ Built 2004
LEASED 01/20/20- Rent
- Rent Per SQFT
- $2,100
- $0.74
-
10222 Wolfeboro Avenue Las Vegas, NV 2
- 4 beds 3 baths ∙ 2,799 Sqft ∙ Built 2011 4 beds 3 baths ∙ 2,799 Sqft ∙ Built 2011
LEASED 02/25/20- Rent
- Rent Per SQFT
- $2,100
- $0.75
-
9333 Outer Banks Las Vegas, NV 3
- 4 beds 3 baths ∙ 2,948 Sqft ∙ Built 2005 4 beds 3 baths ∙ 2,948 Sqft ∙ Built 2005
LEASED 05/19/20- Rent
- Rent Per SQFT
- $2,150
- $0.73
-
9356 Olympia Falls Avenue Las Vegas, NV 4
- 4 beds 3 baths ∙ 2,733 Sqft ∙ Built 2005 4 beds 3 baths ∙ 2,733 Sqft ∙ Built 2005
LEASED 10/04/20- Rent
- Rent Per SQFT
- $2,400
- $0.88
PROPERTY LISTING DETAILS
1.702.524.7766
Galindo Group Real Estate
1.866.250.5610
Mynd Property Management
1453579
MLS #: 2248969
Last Updated: 11/20/2020
