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10006 Mardagen Street Las Vegas, NV 89183

2 Beds 2 Baths 975 sqft Built 2001

$249,000

List Price

$1,290

$1.2K - $1.4K

Rent Est.

PROPERTY INFO

January 27, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2001
  • Price/Sqft : $255.38
  • 7 Days on Market
  • MLS # : 2264094
  • Updated Date : 01/26/2021 at 00:30
CONSTRUCTION
  • Beds : 2
  • Floor Size : 975 sqft
  • Baths : 2 full
Listing Agent

Elegant Properties, Llc

Listing Agent's Description

Single Story 2 bedroom 2 bathroom home. Home is perfect for first time home owner and/or someone looking to downsize. NO HOA

SEE MORE

MARKET HIGHLIGHTS

  • 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: Silverado Ranch

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300kPrice in $119k305k

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

Neighborhood: Silverado Ranch

NeighborhoodNIR Market*CityMarket2010Year20002019 Q211001150120012501300135014001450150015501600Rent in $10761606

* 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
Shirley A. Barber Elementary Primary Unknown NA
Charles Silvestri Junior High School Middle Regular 1,748 68 NA
Liberty High School High Regular 2,496 105 5

Shirley A. Barber Elementary

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

Charles Silvestri Junior High School

  • Education Level: Middle
  • # of students: 1,748
  • # of teachers: 68
NA
GreatSchools Rating

Liberty High School

  • Education Level: High
  • # of students: 2,496
  • # of teachers: 105
5
GreatSchools Rating
 

$224,100$273,900$249,000

PURCHASE PRICE

$1,161$1,419$1,290

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,290
EXPENSES Loan Payment -$865
Property Tax -$156
Property Insurance -$46
Property Management Fees -$119
CASH FLOW
$104

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.

$249,000

PROJECTED PRICE

$1,290

PROJECTED RENT

0.52%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.96%
Appreciation Year (1-5) 10.2%
Maintenance Year (1-5) 8.00%
Vacancy 7.63%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$200k$400k$600k$800k$1.0M

PROJECTED ANNUAL CASH FLOW

11530$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k$16k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k$700k$800k$900k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$71,735

INVESTMENT

$71,735

Down Payment
$62,250
Rehab Estimate
$5,750
Closing Costs
$3,735

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$865

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $62,250
Loan Amount $186,750
See What Happens When You Reinvest Cash Flow

8.08

YEARS SAVED

$25,893

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
  • $1.32

    LIST RENT PER SQFT
  • $1,124

    COMP ESTIMATED VALUE
  • $1.15

    COMP AVG. RENT PER SQFT
Comps Range
$1,095
1$1,0952$1,1953$1,2904$1,3955$1,395
$1,395
RENT COMPS ANALYSIS
  • 10006 Mardagen Street Las Vegas, NV 3
    • 2 beds 2 baths ∙ 975 Sqft ∙ Built 2001 2 beds 2 baths ∙ 975 Sqft ∙ Built 2001
    • Rent
    • Rent Per SQFT
    •  
    • $1,290
    • $1.32
    •  
  • 2300 Silverado Ranch Boulevard #1198 Las Vegas, NV 1
    • 2 beds 2 baths ∙ 960 Sqft ∙ Built 1997 2 beds 2 baths ∙ 960 Sqft ∙ Built 1997
    LEASED 01/22/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,095
    • $1.14
    •  
  • 10245 South Maryland Parkway #270 Las Vegas, NV 2
    • 2 beds 2 baths ∙ 1,053 Sqft ∙ Built 2002 2 beds 2 baths ∙ 1,053 Sqft ∙ Built 2002
    LEASED 01/22/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,195
    • $1.13
    •  
  • 9981 Aspen Rose Street #101 Las Vegas, NV 4
    • 2 beds 2 baths ∙ 1,189 Sqft ∙ Built 2007 2 beds 2 baths ∙ 1,189 Sqft ∙ Built 2007
    LEASED 12/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,395
    • $1.17
    •  
  • 2265 Cortez Bank Way #101 Las Vegas, NV 5
    • 2 beds 2 baths ∙ 1,189 Sqft ∙ Built 2007 2 beds 2 baths ∙ 1,189 Sqft ∙ Built 2007
    LEASED 11/25/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,395
    • $1.17
    •  
PROPERTY LISTING DETAILS
Deborah L Priebe
1.702.595.6536
Elegant Properties, Llc
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2264094
Last Updated: 01/26/2021
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