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1010 Sleetridge Drive Las Vegas, NV 89123

4 Beds 3 Baths 2,006 sqft Built 1992

$359,880

List Price

$1,660

$1.5K - $1.8K

Rent Est.

PROPERTY INFO

November 20, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1992
  • Price/Sqft : $179.40
  • 3 Days on Market
  • MLS # : 2249714
  • Updated Date : 11/21/2020 at 12:53
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,006 sqft
  • Baths : 2 full , 1 half
Listing Agent

Realty One Group, Inc

Listing Agent's Description

Amazing single story 4 bedrooms with 3 car garage close in. Great amazing lot at end of street plenty of parking!!!.. NO HOA!! 4 bedrooms. This home has character, High Ceilings and separate living areas. Perfect for the work and stay at home lifestyle. Fireplace in expansive master bedroom. Separate tub shower. You can put your own personal touches and make this house your own.. This is priced amazing! Home had full hvac system replaced two years ago. Water heater is newer also.

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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: Paradise

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280kPrice in $112k296k

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

Neighborhood: Paradise

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
Louis Wiener Jr Elementary School Primary Regular 701 39 7
Jack L. Schofield Middle School Middle Regular 1,332 51 NA
Silverado High School High Regular 2,263 94 5

Louis Wiener Jr Elementary School

  • Education Level: Primary
  • # of students: 701
  • # of teachers: 39
7
GreatSchools Rating

Jack L. Schofield Middle School

  • Education Level: Middle
  • # of students: 1,332
  • # of teachers: 51
NA
GreatSchools Rating

Silverado High School

  • Education Level: High
  • # of students: 2,263
  • # of teachers: 94
5
GreatSchools Rating
 

$323,892$395,868$359,880

PURCHASE PRICE

$1,494$1,826$1,660

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,660
EXPENSES Loan Payment -$1,328
Property Tax -$200
Property Insurance -$66
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.

$359,880

PROJECTED PRICE

$1,660

PROJECTED RENT

0.46%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.96%
Appreciation Year (1-5) 9.4%
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$1.2M

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$101,118

INVESTMENT

$101,118

Down Payment
$89,970
Rehab Estimate
$5,750
Closing Costs
$5,398

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,328

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $89,970
Loan Amount $269,910
See What Happens When You Reinvest Cash Flow

5.33

YEARS SAVED

$23,745

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,660

    LIST RENT
  • $0.83

    LIST RENT PER SQFT
  • $1,770

    COMP ESTIMATED VALUE
  • $0.88

    COMP AVG. RENT PER SQFT
Comps Range
$1,550
1$1,5502$1,6003$1,6604$1,7005$1,740
$1,740
RENT COMPS ANALYSIS
  • 1010 Sleetridge Drive Las Vegas, NV 3
    • 4 beds 3 baths ∙ 2,006 Sqft ∙ Built 1992 4 beds 3 baths ∙ 2,006 Sqft ∙ Built 1992
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,660
    • $0.83
    •  
  • 868 Brass Ring Las Vegas, NV 1
    • 3 beds 3 baths ∙ 1,890 Sqft ∙ Built 1990 3 beds 3 baths ∙ 1,890 Sqft ∙ Built 1990
    property image
    LEASED 06/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $0.82
    •  
  • 8054 Counterpoint Lane Las Vegas, NV 2
    • 3 beds 3 baths ∙ 1,876 Sqft ∙ Built 1991 3 beds 3 baths ∙ 1,876 Sqft ∙ Built 1991
    property image
    LEASED 09/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $0.85
    •  
  • 8303 Montgomery Las Vegas, NV 4
    • 5 beds 1 baths ∙ 1,833 Sqft ∙ Built 1999 5 beds 1 baths ∙ 1,833 Sqft ∙ Built 1999
    property image
    LEASED 03/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $0.93
    •  
  • 1060 Legato Drive Las Vegas, NV 5
    • 3 beds 2 baths ∙ 1,864 Sqft ∙ Built 1992 3 beds 2 baths ∙ 1,864 Sqft ∙ Built 1992
    property image
    LEASED 01/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,740
    • $0.93
    •  
PROPERTY LISTING DETAILS
Spencer V Cheplak
1.702.595.8687
Realty One Group, Inc
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2249714
Last Updated: 11/21/2020
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