Work with a dedicated Real Estate Advisor who will take your financial preferences and help you select and acquire properties that fit your criteria. Learn more

10105 Sparrow Ridge Avenue Las Vegas, NV 89117

2 Beds 2 Baths 1,389 sqft Built 1998

$314,000

List Price

$1,390

$1.3K - $1.5K

Rent Est.

PROPERTY INFO

November 19, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1998
  • Price/Sqft : $226.06
  • 7 Days on Market
  • MLS # : 2248925
  • Updated Date : 11/20/2020 at 18:42
CONSTRUCTION
  • Beds : 2
  • Floor Size : 1,389 sqft
  • Baths : 2 full
Listing Agent

Coldwell Banker Premier

Listing Agent's Description

First time to market, no HOA, and move-in ready. Single story living an open floor plan with two bedrooms, two full bathrooms, and a den which could convert to a third bedroom easily. The cozy gas fireplace welcomes you to the open entertainment area of the living room, dining area and kitchen for easy conversations. Chores are easy when your laundry room is conveniently located inside. Pull directly into your two car garage connected to the home. Relax under the covered backyard patio and let the worries of the day fade away into the sunset. All appliances included, as well as whole house water-conditioning system. New water heater installed Nov. 2020.

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: Spring Valley

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280kPrice in $119k296k

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

Neighborhood: Spring Valley

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2105011001150120012501300135014001450150015501600Rent in $10381606

* 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
Keith And Karen Hayes Elementary School Primary Regular 804 40 9
Victoria Fertitta Middle School Middle Regular 1,472 60 NA
Spring Valley High School High Regular 1,925 79 4

Keith And Karen Hayes Elementary School

  • Education Level: Primary
  • # of students: 804
  • # of teachers: 40
9
GreatSchools Rating

Victoria Fertitta Middle School

  • Education Level: Middle
  • # of students: 1,472
  • # of teachers: 60
NA
GreatSchools Rating

Spring Valley High School

  • Education Level: High
  • # of students: 1,925
  • # of teachers: 79
4
GreatSchools Rating
 

$282,600$345,400$314,000

PURCHASE PRICE

$1,251$1,529$1,390

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,390
EXPENSES Loan Payment -$1,159
Property Tax -$182
Property Insurance -$54
Property Management Fees -$119
CASH FLOW
-$123

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.

$314,000

PROJECTED PRICE

$1,390

PROJECTED RENT

0.44%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.96%
Appreciation Year (1-5) 9.9%
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-$4.0k-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$88,960

INVESTMENT

$88,960

Down Payment
$78,500
Rehab Estimate
$5,750
Closing Costs
$4,710

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$1,159

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $78,500
Loan Amount $235,500
See What Happens When You Reinvest Cash Flow

4.17

YEARS SAVED

$14,138

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,390

    LIST RENT
  • $1

    LIST RENT PER SQFT
  • $1,458

    COMP ESTIMATED VALUE
  • $1.05

    COMP AVG. RENT PER SQFT
Comps Range
$1,300
1$1,3002$1,3503$1,3904$1,4955$1,550
$1,550
RENT COMPS ANALYSIS
  • 10105 Sparrow Ridge Avenue Las Vegas, NV 3
    • 2 beds 2 baths ∙ 1,389 Sqft ∙ Built 1998 2 beds 2 baths ∙ 1,389 Sqft ∙ Built 1998
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,390
    • $1.00
    •  
  • 10046 Catalina Canyon Avenue #0 Las Vegas, NV 1
    • 2 beds 1 baths ∙ 1,249 Sqft ∙ Built 1998 2 beds 1 baths ∙ 1,249 Sqft ∙ Built 1998
    property image
    LEASED 02/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,300
    • $1.04
    •  
  • 9540 West Cherokee Avenue Las Vegas, NV 2
    • 2 beds 2 baths ∙ 1,272 Sqft ∙ Built 1999 2 beds 2 baths ∙ 1,272 Sqft ∙ Built 1999
    property image
    LEASED 06/12/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,350
    • $1.06
    •  
  • 9309 Ricardo Lane #- Las Vegas, NV 4
    • 2 beds 2 baths ∙ 1,444 Sqft ∙ Built 1988 2 beds 2 baths ∙ 1,444 Sqft ∙ Built 1988
    property image
    LEASED 12/06/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,495
    • $1.04
    •  
  • 3760 Cape Solitude Street Las Vegas, NV 5
    • 2 beds 1 baths ∙ 1,457 Sqft ∙ Built 1999 2 beds 1 baths ∙ 1,457 Sqft ∙ Built 1999
    property image
    LEASED 08/19/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $1.06
    •  
PROPERTY LISTING DETAILS
Monique A Kaldy
1.702.768.9771
Coldwell Banker Premier
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2248925
Last Updated: 11/20/2020
BESbswy