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10418 Prairie Mountain Avenue Las Vegas, NV 89166

4 Beds 2 Baths 2,816 sqft Built 2007

$400,000

List Price

$2,170

$2K - $2.4K

Rent Est.

PROPERTY INFO

February 13, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2007
  • Price/Sqft : $142.05
  • 3 Days on Market
  • MLS # : 2269369
  • Updated Date : 02/13/2021 at 02:30
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,816 sqft
  • Baths : 2 full
Listing Agent

Coldwell Banker Premier

Listing Agent's Description

Open & Spacious Floorplan*Lots of Newer and/or Recently Replaced upgrades & systems include 2 NEW HVAC Systems replaced in 2019 w/ Micro Power Guard Filters and featuring 3 Zone 2nd floor System for even distribution of heat and air*Enjoy the Energy Savings with the INCLUDED SOLAR SYSTEM (NO Lease) Newer Water Heater, Water Softener, Dishwasher, Garbage Disposal & Toilets*Separate Living, Dining and Kitchen/Family Rooms*Kitchen features Breakfast Bar/Island, Walk-in Pantry, S/S Appliances & More*Kitchen Slider leads to your Covered Patio & Carefree Yard with Desert Landscaping & synthetic Grass*1st Floor Bedroom & 3/4 Bath tucked away just off the Family Room*Grand Primary Suite sep from others boasts large Sitting Room, 2 walk-in Closets, Bath with Dual Vanity, Roman Tub & Separate Shower*Tech/Built in cabinets/desk area at 2nd Floor Hall*2 Additional spacious Bedrooms & Additional Bath with Dual Vanity*Residents Enjoy The Club at Northern Terrace incl Pools, Spa, Fitness, BBQ & More

SEE MORE

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: 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
Arbor View High School High Regular 2,878 116 9

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

Arbor View High School

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

$360,000$440,000$400,000

PURCHASE PRICE

$1,953$2,387$2,170

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,170
EXPENSES Loan Payment -$1,389
Property Tax -$334
Property Insurance -$82
Property Management Fees -$119
CASH FLOW
$246

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.

$400,000

PROJECTED PRICE

$2,170

PROJECTED RENT

0.54%

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$1.4M$1.6M

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$111,750

INVESTMENT

$111,750

Down Payment
$100,000
Rehab Estimate
$5,750
Closing Costs
$6,000

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,389

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $100,000
Loan Amount $300,000
See What Happens When You Reinvest Cash Flow

9.08

YEARS SAVED

$49,514

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,170

    LIST RENT
  • $0.77

    LIST RENT PER SQFT
  • $2,443

    COMP ESTIMATED VALUE
  • $0.87

    COMP AVG. RENT PER SQFT
Comps Range
$2,150
1$2,1502$2,1703$2,3004$2,5995$2,600
$2,600
RENT COMPS ANALYSIS
  • 10418 Prairie Mountain Avenue Las Vegas, NV 2
    • 4 beds 2 baths ∙ 2,816 Sqft ∙ Built 2007 4 beds 2 baths ∙ 2,816 Sqft ∙ Built 2007
    • Rent
    • Rent Per SQFT
    •  
    • $2,170
    • $0.77
    •  
  • 10007 Desert Bighorn Las Vegas, NV 1
    • 3 beds 3 baths ∙ 2,794 Sqft ∙ Built 2019 3 beds 3 baths ∙ 2,794 Sqft ∙ Built 2019
    LEASED 07/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,150
    • $0.77
    •  
  • 10665 Scorched Skye Las Vegas, NV 3
    • 4 beds 4 baths ∙ 2,669 Sqft ∙ Built 2020 4 beds 4 baths ∙ 2,669 Sqft ∙ Built 2020
    LEASED 10/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $0.86
    •  
  • 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
    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
    LEASED 01/05/21
    • Rent
    • Rent Per SQFT
    •  
    • $2,600
    • $0.92
    •  
PROPERTY LISTING DETAILS
Dolores Duffield
1.702.561.3014
Coldwell Banker Premier
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2269369
Last Updated: 02/13/2021
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