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1022 Edgestone Mark Avenue North Las Vegas, NV 89081

3 Beds 3 Baths 1,830 sqft Built 2001

$339,990

List Price

$1,470

$1.3K - $1.6K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
July 12, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2001
  • Price/Sqft : $185.79
  • 2 Days on Market
  • MLS # : 2314016
  • Updated Date : 07/13/2021 at 16:59
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,830 sqft
  • Baths : 2 full , 1 half
Listing Agent

Vegas One Realty

Listing Agent's Description

Honey I'm home!!! Don't miss this completely upgraded beauty. No carpet here... Tile downstairs, new laminate wood flooring upstairs & freshly painted. Huge living room & dining area that flows into the gorgeous open kitchen with granite counters, backsplash, glass pantry door, stainless steel appliances, breakfast bar, new hardware & hinges on cabinets. The den downstairs could be used as an office/guest rm, ceiling fans throughout. Upstairs boast with the large primary bdrm & nice size secondary rooms as well as the laundry rm, no running downstairs to do the laundry here! Can't forget the HUGE pool size backyard with a nice size patio & side area with a shed that will stay.

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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)

PRICE & RENT TRENDS

Neighborhood: Cobblestone North Ridge

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260k280kPrice in $84k296k

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

Neighborhood: Cobblestone North Ridge

NeighborhoodNIR Market*CityMarket2010Year20002019 Q29501000105011001150120012501300135014001450150015501600Rent in $9421603

* 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
Jesse Scott Elementary School Primary Regular 853 45 2
Clifford O. Findlay Middle School Middle Regular 1,372 59 NA
Mojave High School High Regular 2,311 103 2

Jesse Scott Elementary School

  • Education Level: Primary
  • # of students: 853
  • # of teachers: 45
2
GreatSchools Rating

Clifford O. Findlay Middle School

  • Education Level: Middle
  • # of students: 1,372
  • # of teachers: 59
NA
GreatSchools Rating

Mojave High School

  • Education Level: High
  • # of students: 2,311
  • # of teachers: 103
2
GreatSchools Rating
 

$305,991$373,989$339,990

PURCHASE PRICE

$1,323$1,617$1,470

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,470
EXPENSES Loan Payment -$1,181
Property Tax -$235
Property Insurance -$63
HOA -$15
Property Management Fees -$119
CASH FLOW
-$142

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.

$339,990

PROJECTED PRICE

$1,470

PROJECTED RENT

0.43%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.75%
Appreciation Year (1-5) 11.2%
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

PROJECTED ANNUAL CASH FLOW

11530-$4.0k-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k

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$95,847

INVESTMENT

$95,847

Down Payment
$84,998
Rehab Estimate
$5,750
Closing Costs
$5,100

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,181

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $84,998
Loan Amount $254,993
See What Happens When You Reinvest Cash Flow

3.25

YEARS SAVED

$8,924

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,470

    LIST RENT
  • $0.8

    LIST RENT PER SQFT
  • $1,569

    COMP ESTIMATED VALUE
  • $0.86

    COMP AVG. RENT PER SQFT
Comps Range
$1,450
1$1,4502$1,4703$1,5504$1,5955$1,600
$1,600
RENT COMPS ANALYSIS
  • 1022 Edgestone Mark Avenue North Las Vegas, NV 2
    • 3 beds 3 baths ∙ 1,830 Sqft ∙ Built 2001 3 beds 3 baths ∙ 1,830 Sqft ∙ Built 2001
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,470
    • $0.80
    •  
  • 1101 Edgestone Mark Avenue North Las Vegas, NV 1
    • 3 beds 2 baths ∙ 1,750 Sqft ∙ Built 2002 3 beds 2 baths ∙ 1,750 Sqft ∙ Built 2002
    property image
    LEASED 02/15/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $0.83
    •  
  • 717 Fort Mandan Court #n/a North Las Vegas, NV 3
    • 3 beds 3 baths ∙ 1,869 Sqft ∙ Built 2005 3 beds 3 baths ∙ 1,869 Sqft ∙ Built 2005
    property image
    LEASED 11/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $0.83
    •  
  • 4637 Possum Berry Lane North Las Vegas, NV 4
    • 3 beds 3 baths ∙ 1,768 Sqft ∙ Built 1996 3 beds 3 baths ∙ 1,768 Sqft ∙ Built 1996
    property image
    LEASED 10/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $0.90
    •  
  • 4833 Drifting Pebble Street North Las Vegas, NV 5
    • 4 beds 3 baths ∙ 1,830 Sqft ∙ Built 2002 4 beds 3 baths ∙ 1,830 Sqft ∙ Built 2002
    property image
    LEASED 06/10/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $0.87
    •  
PROPERTY LISTING DETAILS
Paula Clarke
1.702.506.3663
Vegas One Realty
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2314016
Last Updated: 07/13/2021
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