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10235 Rockridge Peak Avenue Las Vegas, NV 89166

4 Beds 4 Baths 2,819 sqft Built 2011

$425,000

List Price

$2,280

$2.1K - $2.5K

Rent Est.

PROPERTY INFO

January 17, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2011
  • Price/Sqft : $150.76
  • 2 Days on Market
  • MLS # : 2262276
  • Updated Date : 01/17/2021 at 06:13
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,819 sqft
  • Baths : 3 full , 1 half
Listing Agent

Urban Nest Realty

Listing Agent's Description

Over 2,800 square feet of bright and truly open living space on a corner lot in charming and well-kept gated community of Providence! This home features vaulted ceilings and built-in shelves/cabinets in the great room, a welcoming and airy kitchen with dual stainless steel ovens, built-in gas cooktop, and custom-finished cabinets. TWO huge primary/master bedrooms w/bathrooms, one upstairs and one downstairs-- perfect for multi-generational living! Two more oversized secondary bedrooms upstairs. Plus, TWO open dens downstairs-- fantastic for families with multiple members going to work and/or school from home! Laundry room is equipped with a deep sink and lined with cabinets. Backyard is beautifully landscaped with low-maintenance synthetic grass for year-round greenery. This is a corner lot property also with no neighbors to the rear for ultimate peace and privacy. Plus, full access to Providence's lush tree-lined streets, friendly neighborhood shopping, and rolling parks galore!!

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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: Hearthstone-Brookstone

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450kPrice in $119k451k

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

Neighborhood: Hearthstone-Brookstone

NeighborhoodNIR Market*CityMarket2010Year20002019 Q211001200130014001500160017001800190020002100Rent in $10762134

* 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
Kenneth Divich Elementary Primary Unknown NA
Edmundo Eddie Escobedo Sr Middle School Middle Regular 1,171 47 NA
Arbor View High School High Regular 2,878 116 9

Kenneth Divich Elementary

  • Education Level: Primary
  • # of students:
  • # of teachers:
NA
GreatSchools Rating

Edmundo Eddie Escobedo Sr Middle School

  • Education Level: Middle
  • # of students: 1,171
  • # of teachers: 47
NA
GreatSchools Rating

Arbor View High School

  • Education Level: High
  • # of students: 2,878
  • # of teachers: 116
9
GreatSchools Rating
 

$382,500$467,500$425,000

PURCHASE PRICE

$2,052$2,508$2,280

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,280
EXPENSES Loan Payment -$1,476
Property Tax -$352
Property Insurance -$82
Property Management Fees -$119
CASH FLOW
$251

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.

$425,000

PROJECTED PRICE

$2,280

PROJECTED RENT

0.54%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.05%
Appreciation Year (1-5) 5.0%
Maintenance Year (1-5) 8.00%
Vacancy 7.57%
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$20k$25k

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$118,375

INVESTMENT

$118,375

Down Payment
$106,250
Rehab Estimate
$5,750
Closing Costs
$6,375

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 40% down payment or higher enables the proceeds from the asset to cover all costs.

$1,476

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $106,250
Loan Amount $318,750
See What Happens When You Reinvest Cash Flow

8.92

YEARS SAVED

$51,662

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,280

    LIST RENT
  • $0.81

    LIST RENT PER SQFT
  • $2,368

    COMP ESTIMATED VALUE
  • $0.84

    COMP AVG. RENT PER SQFT
Comps Range
$2,100
1$2,1002$2,1503$2,2804$2,5995$2,600
$2,600
RENT COMPS ANALYSIS
  • 10235 Rockridge Peak Avenue Las Vegas, NV 3
    • 4 beds 4 baths ∙ 2,819 Sqft ∙ Built 2011 4 beds 4 baths ∙ 2,819 Sqft ∙ Built 2011
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,280
    • $0.81
    •  
  • 10222 Wolfeboro Avenue Las Vegas, NV 1
    • 4 beds 3 baths ∙ 2,799 Sqft ∙ Built 2011 4 beds 3 baths ∙ 2,799 Sqft ∙ Built 2011
    property image
    LEASED 02/25/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $0.75
    •  
  • 10007 Desert Bighorn Las Vegas, NV 2
    • 3 beds 3 baths ∙ 2,794 Sqft ∙ Built 2019 3 beds 3 baths ∙ 2,794 Sqft ∙ Built 2019
    property image
    LEASED 07/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,150
    • $0.77
    •  
  • 10208 Bristol Peak Avenue Las Vegas, NV 4
    • 4 beds 3 baths ∙ 2,813 Sqft ∙ Built 2010 4 beds 3 baths ∙ 2,813 Sqft ∙ Built 2010
    property image
    LEASED 02/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,599
    • $0.92
    •  
  • 10338 Mount Oxford Avenue Las Vegas, NV 5
    • 4 beds 2 baths ∙ 2,835 Sqft ∙ Built 2013 4 beds 2 baths ∙ 2,835 Sqft ∙ Built 2013
    property image
    LEASED 01/05/21
    • Rent
    • Rent Per SQFT
    •  
    • $2,600
    • $0.92
    •  
PROPERTY LISTING DETAILS
Monika Radcliff
1.702.488.8775
Urban Nest Realty
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2262276
Last Updated: 01/17/2021
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