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1005 Rustridge Avenue North Las Vegas, NV 89081

3 Beds 3 Baths 3,009 sqft Built 2008

$375,000

List Price

$1,820

$1.6K - $2K

Rent Est.

PROPERTY INFO

January 16, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2008
  • Price/Sqft : $124.63
  • 5 Days on Market
  • MLS # : 2261556
  • Updated Date : 01/16/2021 at 19:23
CONSTRUCTION
  • Beds : 3
  • Floor Size : 3,009 sqft
  • Baths : 3 full
Listing Agent

Life Realty District

Listing Agent's Description

HUGE 3 bedroom + den, loft, and sunroom! This spacious and functional floorplan features 3 oversized bedrooms and 3 full bathrooms as well as a huge den downstairs, flex space/loft upstairs, and an inviting sunroom leading into the tranquil backyard. Open & bright living/family room with fireplace & vaulted ceilings. Charming kitchen with granite countertops, breakfast bar & walk in pantry. Great loft area for a media or game room. First floor primary bedroom with big walk-in closet. Lovely bath with large soaking tub & his/her sinks. 3 car garage, spacious backyard with a covered patio and plenty of room for a Pool!! Don't miss out!! At this price, you can't go wrong!!!

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • As the largest share, Las Vegas metro contributes to 75.1% of Nevada state's economy i.e. Gross State Product (USMayors.org, 2018)

PRICE & RENT TRENDS

Neighborhood: Geyser Peak

NeighborhoodNIR Market*CityMarket2010Year20002019100k150k200k250k300k350k400kPrice in $84k414k

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

Neighborhood: Geyser Peak

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2100011001200130014001500160017001800Rent in $9651820

* 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
Don E. Hayden Elementary School Primary Regular 702 38 6
Carroll M Johnston Middle School Middle Regular 1,365 58 NA
Legacy High School High Regular 2,819 119 3

Don E. Hayden Elementary School

  • Education Level: Primary
  • # of students: 702
  • # of teachers: 38
6
GreatSchools Rating

Carroll M Johnston Middle School

  • Education Level: Middle
  • # of students: 1,365
  • # of teachers: 58
NA
GreatSchools Rating

Legacy High School

  • Education Level: High
  • # of students: 2,819
  • # of teachers: 119
3
GreatSchools Rating
 

$337,500$412,500$375,000

PURCHASE PRICE

$1,638$2,002$1,820

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,820
EXPENSES Loan Payment -$1,303
Property Tax -$343
Property Insurance -$85
Property Management Fees -$119
CASH FLOW
-$30

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 17% of earned rent to cover both maintenance and periods of vacancy.

$375,000

PROJECTED PRICE

$1,820

PROJECTED RENT

0.49%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.75%
Appreciation Year (1-5) 10.9%
Maintenance Year (1-5) 8.00%
Vacancy 8.50%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M

PROJECTED ANNUAL CASH FLOW

11530$0.0$5.0k$10k$15k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$105,125

INVESTMENT

$105,125

Down Payment
$93,750
Rehab Estimate
$5,750
Closing Costs
$5,625

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 50% down payment or higher enables the proceeds from the asset to cover all costs.

$1,303

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $93,750
Loan Amount $281,250
See What Happens When You Reinvest Cash Flow

4.67

YEARS SAVED

$17,463

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,820

    LIST RENT
  • $0.6

    LIST RENT PER SQFT
  • $1,896

    COMP ESTIMATED VALUE
  • $0.63

    COMP AVG. RENT PER SQFT
Comps Range
$1,725
1$1,7252$1,7503$1,8204$1,9505$2,000
$2,000
RENT COMPS ANALYSIS
  • 1005 Rustridge Avenue North Las Vegas, NV 3
    • 3 beds 3 baths ∙ 3,009 Sqft ∙ Built 2008 3 beds 3 baths ∙ 3,009 Sqft ∙ Built 2008
    • Rent
    • Rent Per SQFT
    •  
    • $1,820
    • $0.60
    •  
  • 6017 Arbor Crest Street North Las Vegas, NV 1
    • 4 beds 3 baths ∙ 2,865 Sqft ∙ Built 2007 4 beds 3 baths ∙ 2,865 Sqft ∙ Built 2007
    LEASED 07/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,725
    • $0.60
    •  
  • 5646 Saint Elias Street North Las Vegas, NV 2
    • 4 beds 3 baths ∙ 2,819 Sqft ∙ Built 2006 4 beds 3 baths ∙ 2,819 Sqft ∙ Built 2006
    LEASED 02/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.62
    •  
  • 2132 Leatherbridge Court Las Vegas, NV 4
    • 4 beds 3 baths ∙ 3,043 Sqft ∙ Built 2012 4 beds 3 baths ∙ 3,043 Sqft ∙ Built 2012
    LEASED 09/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $0.64
    •  
  • 6020 Old Vines Street North Las Vegas, NV 5
    • 4 beds 2 baths ∙ 3,009 Sqft ∙ Built 2006 4 beds 2 baths ∙ 3,009 Sqft ∙ Built 2006
    LEASED 02/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $0.66
    •  
PROPERTY LISTING DETAILS
Destiny Delpit
1.702.271.9520
Life Realty District
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2261556
Last Updated: 01/16/2021
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