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10379 Northern Hills Avenue Las Vegas, NV 89166

3 Beds 3 Baths 2,174 sqft Built 2013

$360,000

List Price

$1,700

$1.5K - $1.9K

Rent Est.

PROPERTY INFO

October 31, 2020 RECENTLY ADDED
FACTS
  • Built In 2013
  • Price/Sqft : $165.59
  • 4 Days on Market
  • MLS # : 2243803
  • Updated Date : 11/02/2020 at 13:33
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,174 sqft
  • Baths : 2 full , 1 half
Listing Agent

Shelter Realty, Inc

Listing Agent's Description

Beautifully upgraded home in highly desirable Providence master plan community. This home features 3 bedrooms + a downstairs den. The spacious kitchen boasts beautiful cabinets, granite counter tops, and stainless steel appliances - dual ovens, gas cooktop, dishwasher, and microwave. Gorgeous laminate flooring throughout first floor. The oversized master bedroom includes a sitting room. The attached master bath features a separate tub and shower + dual sinks. All bedrooms and den include ceiling fan with light fixtures. Low maintenance backyard with covered patio, pavers, and artificial grass. Providence features multiple parks, walking trails, dog parks, and year-round activities.

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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)

PRICE & RENT TRENDS

Neighborhood: Cliffs Edge

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320k340k360kPrice in $119k362k

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

Neighborhood: Cliffs Edge

NeighborhoodNIR Market*CityMarket2010Year20002019 Q211001200130014001500160017001800Rent in $10761875

* 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
Henry And Evelyn Bozarth Elementary School Primary Regular 905 40 8
Edmundo Eddie Escobedo Sr Middle School Middle Regular 1,171 47 NA
Centennial High School High Regular 3,055 124 6

Henry And Evelyn Bozarth Elementary School

  • Education Level: Primary
  • # of students: 905
  • # of teachers: 40
8
GreatSchools Rating

Edmundo Eddie Escobedo Sr Middle School

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

Centennial High School

  • Education Level: High
  • # of students: 3,055
  • # of teachers: 124
6
GreatSchools Rating
 

$324,000$396,000$360,000

PURCHASE PRICE

$1,530$1,870$1,700

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,700
EXPENSES Loan Payment -$1,328
Property Tax -$313
Property Insurance -$69
Property Management Fees -$119
CASH FLOW
-$130

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.

$360,000

PROJECTED PRICE

$1,700

PROJECTED RENT

0.47%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.05%
Appreciation Year (1-5) 7.9%
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

PROJECTED ANNUAL CASH FLOW

11530-$5.0k$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$101,150

INVESTMENT

$101,150

Down Payment
$90,000
Rehab Estimate
$5,750
Closing Costs
$5,400

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,328

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $90,000
Loan Amount $270,000
See What Happens When You Reinvest Cash Flow

4.17

YEARS SAVED

$16,293

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,700

    LIST RENT
  • $0.78

    LIST RENT PER SQFT
  • $1,717

    COMP ESTIMATED VALUE
  • $0.79

    COMP AVG. RENT PER SQFT
Comps Range
$1,595
1$1,5952$1,7003$1,7004$1,7005$1,900
$1,900
RENT COMPS ANALYSIS
  • 10379 Northern Hills Avenue Las Vegas, NV 4
    • 3 beds 3 baths ∙ 2,174 Sqft ∙ Built 2013 3 beds 3 baths ∙ 2,174 Sqft ∙ Built 2013
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $0.78
    •  
  • 10627 Ostend Avenue Las Vegas, NV 1
    • 3 beds 2 baths ∙ 2,102 Sqft ∙ Built 2008 3 beds 2 baths ∙ 2,102 Sqft ∙ Built 2008
    LEASED 11/15/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $0.76
    •  
  • 10521 Hartford Hills Avenue Las Vegas, NV 2
    • 4 beds 2 baths ∙ 2,136 Sqft ∙ Built 2010 4 beds 2 baths ∙ 2,136 Sqft ∙ Built 2010
    LEASED 03/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $0.80
    •  
  • 10639 Ostend Avenue Las Vegas, NV 3
    • 3 beds 2 baths ∙ 2,142 Sqft ∙ Built 2011 3 beds 2 baths ∙ 2,142 Sqft ∙ Built 2011
    LEASED 05/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $0.79
    •  
  • 10352 Ironwood Pass Avenue Las Vegas, NV 5
    • 4 beds 3 baths ∙ 2,356 Sqft ∙ Built 2013 4 beds 3 baths ∙ 2,356 Sqft ∙ Built 2013
    LEASED 10/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,900
    • $0.81
    •  
PROPERTY LISTING DETAILS
David N Eicks
1.702.510.4155
Shelter Realty, Inc
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2243803
Last Updated: 11/02/2020
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