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10181 Rice Paper Street Las Vegas, NV 89183

4 Beds 2 Baths 1,575 sqft Built 2001

$325,000

List Price

$1,590

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

November 04, 2020 RECENTLY ADDED
FACTS
  • Built In 2001
  • Price/Sqft : $206.35
  • 5 Days on Market
  • MLS # : 2244739
  • Updated Date : 11/04/2020 at 15:42
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,575 sqft
  • Baths : 1 full , 1 half
Listing Agent

Nationwide Realty Llc

Listing Agent's Description

Rare Master Br down with 3 up in this 4 BR home sitting on one of the largest lots in the community nestled at the end of the block w/ an XL driveway. Walk in to the open and bright floorplan that has New Luxury Vinyl flooring throughout. , Granite countertops, upgraded appliances, updated cabinets keeps the kitchen bright w/ BI cabinet for xtra storage. French doors lead to the patio & yard to enjoy covered patio with above ground Jacuzzi synthetic turf and plenty of space for landscaping Brand new roller shade blinds, must see

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
John C. Bass Elementary School Primary Regular 885 46 6
Charles Silvestri Junior High School Middle Regular 1,748 68 NA
Liberty High School High Regular 2,496 105 5

John C. Bass Elementary School

  • Education Level: Primary
  • # of students: 885
  • # of teachers: 46
6
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
 

$292,500$357,500$325,000

PURCHASE PRICE

$1,431$1,749$1,590

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,590
EXPENSES Loan Payment -$1,199
Property Tax -$193
Property Insurance -$58
Property Management Fees -$119
CASH FLOW
$21

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.

$325,000

PROJECTED PRICE

$1,590

PROJECTED RENT

0.49%

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$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$91,875

INVESTMENT

$91,875

Down Payment
$81,250
Rehab Estimate
$5,750
Closing Costs
$4,875

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 45% down payment or higher enables the proceeds from the asset to cover all costs.

$1,199

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $81,250
Loan Amount $243,750
See What Happens When You Reinvest Cash Flow

6.42

YEARS SAVED

$28,232

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,590

    LIST RENT
  • $1.01

    LIST RENT PER SQFT
  • $1,583

    COMP ESTIMATED VALUE
  • $1.01

    COMP AVG. RENT PER SQFT
Comps Range
$1,450
1$1,4502$1,5503$1,5904$1,5955$1,699
$1,699
RENT COMPS ANALYSIS
  • 10181 Rice Paper Street Las Vegas, NV 3
    • 4 beds 2 baths ∙ 1,575 Sqft ∙ Built 2001 4 beds 2 baths ∙ 1,575 Sqft ∙ Built 2001
    • Rent
    • Rent Per SQFT
    •  
    • $1,590
    • $1.01
    •  
  • 10180 Cupids Dart Street Las Vegas, NV 1
    • 3 beds 3 baths ∙ 1,520 Sqft ∙ Built 2000 3 beds 3 baths ∙ 1,520 Sqft ∙ Built 2000
    LEASED 03/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $0.95
    •  
  • 659 Persian Violet Avenue Las Vegas, NV 2
    • 4 beds 2 baths ∙ 1,575 Sqft ∙ Built 2000 4 beds 2 baths ∙ 1,575 Sqft ∙ Built 2000
    LEASED 02/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $0.98
    •  
  • 10157 Rice Paper Las Vegas, NV 4
    • 4 beds 3 baths ∙ 1,575 Sqft ∙ Built 2001 4 beds 3 baths ∙ 1,575 Sqft ∙ Built 2001
    LEASED 04/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $1.01
    •  
  • 10203 Crepe Myrtle Court #0 Las Vegas, NV 5
    • 4 beds 2 baths ∙ 1,575 Sqft ∙ Built 2000 4 beds 2 baths ∙ 1,575 Sqft ∙ Built 2000
    LEASED 09/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,699
    • $1.08
    •  
PROPERTY LISTING DETAILS
Or Madar
1.702.237.0550
Nationwide Realty Llc
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2244739
Last Updated: 11/04/2020
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