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PROPERTY INFO
FACTS
- Single Family
- Built In 1988
- Price/Sqft : $201.17
- 3 Days on Market
- MLS # : 2265256
- Updated Date : 01/30/2021 at 19:00
CONSTRUCTION
- Beds : 3
- Floor Size : 1,789 sqft
- Baths : 2 full
Listing Agent
Griffin Group Realty
Listing Agent's Description
Beautiful one story home on a corner lot in the Lakes! Open floorplan, large living room with beautiful laminate flooring and fireplace. Kitchen has upgraded tile countertops and a breakfast bar eating area. Big Primary bedroom with walk in closet and ceiling fan. Upgraded shower in the bathroom. No carpet!! Good size other bedrooms. Covered patio backyard, with fire-pit. Garage has epoxy flooring. Two houses away from the beautiful fountains.This home has it all.
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: The Section Seven
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: The Section Seven
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $1,630 |
| EXPENSES | Loan Payment | -$1,250 |
| Property Tax | -$218 | |
| Property Insurance | -$62 | |
| Property Management Fees | -$119 | |
|
CASH FLOW
-$19
|
||
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.
$359,900
PROJECTED PRICE
$1,630
PROJECTED RENT
0.45%
PROJECTED RENT / PRICE RATIO
| Expense Inflation | 2.50% |
| Rental Growth Year (1-5) | 4.05% |
| Appreciation Year (1-5) | 8.4% |
| 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
$101,124
LOAN DETAILS
$1,250
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 3.75% |
| Down Payment | $89,975 |
| Loan Amount | $269,925 |
5.58
YEARS SAVED
$22,341
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$1,630
LIST RENT -
$0.91
LIST RENT PER SQFT
-
$1,655
COMP ESTIMATED VALUE -
$0.93
COMP AVG. RENT PER SQFT
Comps Range
-
9824 Dardanelle Court Las Vegas, NV 3
- 3 beds 2 baths ∙ 1,789 Sqft ∙ Built 1988 3 beds 2 baths ∙ 1,789 Sqft ∙ Built 1988
- Rent
- Rent Per SQFT
- $1,630
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9725 Horizon Hills Drive #0 Las Vegas, NV 1
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- $1,495
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3208 Cherum Street Las Vegas, NV 2
- 3 beds 2 baths ∙ 1,610 Sqft ∙ Built 2000 3 beds 2 baths ∙ 1,610 Sqft ∙ Built 2000
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- Rent Per SQFT
- $1,500
- $0.93
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3053 Reef View Street Las Vegas, NV 4
- 3 beds 3 baths ∙ 1,936 Sqft ∙ Built 1988 3 beds 3 baths ∙ 1,936 Sqft ∙ Built 1988
LEASED 02/03/20- Rent
- Rent Per SQFT
- $1,700
- $0.88
-
9801 Cross Creek Way Las Vegas, NV 5
- 3 beds 2 baths ∙ 1,614 Sqft ∙ Built 1990 3 beds 2 baths ∙ 1,614 Sqft ∙ Built 1990
LEASED 03/06/20- Rent
- Rent Per SQFT
- $1,700
- $1.05
PROPERTY LISTING DETAILS
1.702.281.2680
Griffin Group Realty
1.866.250.5610
Mynd Property Management
1453579
MLS #: 2265256
Last Updated: 01/30/2021
