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10715 Hobbiton Avenue Las Vegas, NV 89135

4 Beds 5 Baths 3,792 sqft Built 2001

$899,900

List Price

$3,910

$3.7K - $4.2K

Rent Est.

PROPERTY INFO

January 14, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2001
  • Price/Sqft : $237.32
  • 5 Days on Market
  • MLS # : 2261568
  • Updated Date : 01/14/2021 at 05:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 3,792 sqft
  • Baths : 4 full , 1 half
Listing Agent

Luxury Estates International

Listing Agent's Description

Entertainer's dream in prestigious guard gated Willow Creek. Oversized lot with a remarkable outdoor kitchen w/oven, bbq, pool, spa and bar. Cozy fireplace outside to enjoy after a long day! Luxurious entryway with updated flooring and paint throughout. Gourmet kitchen w/ a generous island, walk-in pantry & stainless steel appliances. Features include: Oversized bedrooms, full bedroom downstairs, tons of storage, lush landscaping, fruit trees, outdoor water features and so much more! Upstairs loft can easily be converted back into a 5th bedroom. Neighborhood has a private park, playground, tennis courts, basketball hoop, & walking paths.

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: The Willows

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320k340k360k380kPrice in $119k395k

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

Neighborhood: The Willows

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21100120013001400150016001700180019002000Rent in $10762007

* 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
D'voree And Hall Ober Elementary School Primary Regular 669 39 8
Victoria Fertitta Middle School Middle Regular 1,472 60 NA
Palo Verde High School High Regular 3,024 114 9

D'voree And Hall Ober Elementary School

  • Education Level: Primary
  • # of students: 669
  • # of teachers: 39
8
GreatSchools Rating

Victoria Fertitta Middle School

  • Education Level: Middle
  • # of students: 1,472
  • # of teachers: 60
NA
GreatSchools Rating

Palo Verde High School

  • Education Level: High
  • # of students: 3,024
  • # of teachers: 114
9
GreatSchools Rating
 

$809,910$989,890$899,900

PURCHASE PRICE

$3,519$4,301$3,910

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,910
EXPENSES Loan Payment -$3,126
Property Tax -$564
Property Insurance -$101
Property Management Fees -$119
CASH FLOW
$1

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.

$899,900

PROJECTED PRICE

$3,910

PROJECTED RENT

0.43%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.05%
Appreciation Year (1-5) 8.8%
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$500k$1.0M$1.5M$2.0M$2.5M$3.0M

PROJECTED ANNUAL CASH FLOW

11530$0.0$10k$20k$30k$40k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$500k$1.0M$1.5M$2.0M$2.5M$3.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$244,224

INVESTMENT

$244,224

Down Payment
$224,975
Rehab Estimate
$5,750
Closing Costs
$13,499

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$3,126

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $224,975
Loan Amount $674,925
See What Happens When You Reinvest Cash Flow

5.75

YEARS SAVED

$59,624

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,910

    LIST RENT
  • $1.03

    LIST RENT PER SQFT
  • $3,868

    COMP ESTIMATED VALUE
  • $1.02

    COMP AVG. RENT PER SQFT
Comps Range
$3,250
1$3,2502$3,4953$3,9004$3,9105$4,500
$4,500
RENT COMPS ANALYSIS
  • 10715 Hobbiton Avenue Las Vegas, NV 4
    • 4 beds 5 baths ∙ 3,792 Sqft ∙ Built 2001 4 beds 5 baths ∙ 3,792 Sqft ∙ Built 2001
    • Rent
    • Rent Per SQFT
    •  
    • $3,910
    • $1.03
    •  
  • 10729 Grey Havens Court Las Vegas, NV 1
    • 5 beds 5 baths ∙ 3,535 Sqft ∙ Built 2003 5 beds 5 baths ∙ 3,535 Sqft ∙ Built 2003
    LEASED 05/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,250
    • $0.92
    •  
  • 3066 Lenoir Street Las Vegas, NV 2
    • 5 beds 3 baths ∙ 3,723 Sqft ∙ Built 2001 5 beds 3 baths ∙ 3,723 Sqft ∙ Built 2001
    LEASED 09/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,495
    • $0.94
    •  
  • 10755 Hobbiton Avenue Las Vegas, NV 3
    • 5 beds 5 baths ∙ 3,792 Sqft ∙ Built 2001 5 beds 5 baths ∙ 3,792 Sqft ∙ Built 2001
    LEASED 10/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,900
    • $1.03
    •  
  • 10709 Grey Havens Court Las Vegas, NV 5
    • 5 beds 5 baths ∙ 3,792 Sqft ∙ Built 2002 5 beds 5 baths ∙ 3,792 Sqft ∙ Built 2002
    LEASED 07/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $4,500
    • $1.19
    •  
PROPERTY LISTING DETAILS
Giovanna Merz
1.702.445.1246
Luxury Estates International
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2261568
Last Updated: 01/14/2021
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