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10332 Midnight Iris Street Las Vegas, NV 89183

2 Beds 3 Baths 1,279 sqft Built 2004

$265,000

List Price

$1,290

$1.2K - $1.4K

Rent Est.

PROPERTY INFO

January 14, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2004
  • Price/Sqft : $207.19
  • 5 Days on Market
  • MLS # : 2261342
  • Updated Date : 01/14/2021 at 01:00
CONSTRUCTION
  • Beds : 2
  • Floor Size : 1,279 sqft
  • Baths : 2 full , 1 half
Listing Agent

Opendoor Brokerage Llc

Listing Agent's Description

This Las Vegas two-story home offers a one-car garage.

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: 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
 

$238,500$291,500$265,000

PURCHASE PRICE

$1,161$1,419$1,290

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,290
EXPENSES Loan Payment -$920
Property Tax -$162
Property Insurance -$52
Property Management Fees -$119
CASH FLOW
$36

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.

$265,000

PROJECTED PRICE

$1,290

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

PROJECTED ANNUAL CASH FLOW

11530-$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$75,975

INVESTMENT

$75,975

Down Payment
$66,250
Rehab Estimate
$5,750
Closing Costs
$3,975

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$920

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $66,250
Loan Amount $198,750
See What Happens When You Reinvest Cash Flow

6.58

YEARS SAVED

$20,492

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,290

    LIST RENT
  • $1.01

    LIST RENT PER SQFT
  • $1,282

    COMP ESTIMATED VALUE
  • $1

    COMP AVG. RENT PER SQFT
Comps Range
$1,250
1$1,2502$1,2903$1,2954$1,3005$1,300
$1,300
RENT COMPS ANALYSIS
  • 10332 Midnight Iris Street Las Vegas, NV 2
    • 2 beds 3 baths ∙ 1,279 Sqft ∙ Built 2004 2 beds 3 baths ∙ 1,279 Sqft ∙ Built 2004
    • Rent
    • Rent Per SQFT
    •  
    • $1,290
    • $1.01
    •  
  • 10396 Midseason Mist Las Vegas, NV 1
    • 2 beds 3 baths ∙ 1,279 Sqft ∙ Built 2003 2 beds 3 baths ∙ 1,279 Sqft ∙ Built 2003
    LEASED 06/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,250
    • $0.98
    •  
  • 10131 Tree Bark Las Vegas, NV 3
    • 2 beds 3 baths ∙ 1,284 Sqft ∙ Built 2002 2 beds 3 baths ∙ 1,284 Sqft ∙ Built 2002
    LEASED 05/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,295
    • $1.01
    •  
  • 10167 Rising Tree #n/a Las Vegas, NV 4
    • 2 beds 3 baths ∙ 1,284 Sqft ∙ Built 2002 2 beds 3 baths ∙ 1,284 Sqft ∙ Built 2002
    LEASED 04/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,300
    • $1.01
    •  
  • 10191 Rising Tree Street Las Vegas, NV 5
    • 2 beds 2 baths ∙ 1,284 Sqft ∙ Built 2001 2 beds 2 baths ∙ 1,284 Sqft ∙ Built 2001
    LEASED 07/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,300
    • $1.01
    •  
PROPERTY LISTING DETAILS
Alexis M Rogers
1.702.710.3787
Opendoor Brokerage Llc
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2261342
Last Updated: 01/14/2021
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