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10803 Iona Island Avenue 
Las Vegas, NV
89166
3 Beds 3 Baths 1,724 sqft
Built 2007
INVESTimate
$325,000
List Price
$91,875
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PROPERTY INFO
FACTS
- Built In 2007
- Price/Sqft : $188.52
- 3 Days on Market
- MLS # : 2223695
- Updated Date : 08/24/2020 at 22:14
CONSTRUCTION
- Beds : 3
- Floor Size : 1,724 sqft
- Baths : 2 full , 1 half
Listing Agent
Bhhs Nevada Properties
Listing Agent's Description
Great Location! Charming 2 Story Home in Providence Community. Open & Spacious Floor Plan, Well Maintained w/Many Upgrades. Shutters, Wood Laminate Floors, Tile Downstairs & Baths/Laundry Room, Stone Exterior, Master Has Wood Laminate Floors, Garden Tub & Walk-In Closet. Move In Ready!!! Wood Railing, Convenient Location to Freeways - Come See! You Will Love This Home!
SEE MORE
- 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
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: Cliffs Edge
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
PROJECTED ACCUMULATED WEALTH
30 YEAR PROJECTION
- Cash Flow
- Appreciation
- Principal
PROJECTED ANNUAL CASH FLOW
PROJECTED PROPERTY VALUE
30 YEAR PROJECTION
- Appreciation
- Principal
- Loan Balance
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $1,450 |
| EXPENSES | Loan Payment | -$1,199 |
| Property Tax | -$240 | |
| Property Insurance | -$61 | |
| HOA | -$40 | |
| Property Management Fees | -$119 | |
|
CASH FLOW
-$209
|
||
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.
$325,000
PROJECTED PRICE
$1,450
PROJECTED RENT
0.45%
PROJECTED RENT / PRICE RATIO
| Expense Inflation | 2.50% |
| Rental Growth Year (1-5) | 4.05% |
| Appreciation Year (1-5) | 7.91% |
| Maintenance Year (1-5) | 8.00% |
| Vacancy | 7.57% |
| Length of Stay Years | 2 |
TOTAL CASH OUT OF POCKET
INVESTMENT
$91,875
LOAN DETAILS
$1,199
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 4.25% |
| Down Payment | $81,250 |
| Loan Amount | $243,750 |
2.67
YEARS SAVED
$8,114
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$1,450
LIST RENT -
$0.84
LIST RENT PER SQFT
-
$1,577
COMP ESTIMATED VALUE -
$0.92
COMP AVG. RENT PER SQFT
Comps Range
-
10803 Iona Island Avenue Las Vegas, NV 1
- 3 beds 3 baths ∙ 1,724 Sqft ∙ Built 2007 3 beds 3 baths ∙ 1,724 Sqft ∙ Built 2007
- Rent
- Rent Per SQFT
- $1,450
- $0.84
-
7827 Granite City Court Las Vegas, NV 2
- 3 beds 3 baths ∙ 1,661 Sqft ∙ Built 2007 3 beds 3 baths ∙ 1,661 Sqft ∙ Built 2007
LEASED 11/06/19- Rent
- Rent Per SQFT
- $1,550
- $0.93
-
7834 Brodie Castle Court Las Vegas, NV 3
- 3 beds 3 baths ∙ 1,661 Sqft ∙ Built 2007 3 beds 3 baths ∙ 1,661 Sqft ∙ Built 2007
LEASED 03/05/20- Rent
- Rent Per SQFT
- $1,595
- $0.96
-
7719 Lone Shepherd Drive Las Vegas, NV 4
- 3 beds 3 baths ∙ 1,835 Sqft ∙ Built 2010 3 beds 3 baths ∙ 1,835 Sqft ∙ Built 2010
LEASED 09/19/19- Rent
- Rent Per SQFT
- $1,625
- $0.89
-
7884 Shoreline Ridge Court Las Vegas, NV 5
- 3 beds 3 baths ∙ 1,923 Sqft ∙ Built 2014 3 beds 3 baths ∙ 1,923 Sqft ∙ Built 2014
LEASED 01/09/20- Rent
- Rent Per SQFT
- $1,695
- $0.88
PROPERTY LISTING DETAILS
1.702.869.9999
Bhhs Nevada Properties
1.866.250.5610
Mynd Property Management
1453579
MLS #: 2223695
Last Updated: 08/24/2020
