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10820 Cather Avenue Las Vegas, NV 89166

3 Beds 3 Baths 2,264 sqft Built 2015

INVESTimate

$340,000

List Price

$1,630

$1,467 - $1,793

Rent Est.

$366,894  ( +7.91%)   1 YR EST. FORECAST

PROPERTY INFO

August 22, 2020 RECENTLY ADDED
FACTS
  • Built In 2015
  • Price/Sqft : $150.18
  • 5 Days on Market
  • MLS # : 2224184
  • Updated Date : 08/25/2020 at 12:54
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,264 sqft
  • Baths : 2 full , 1 half
Listing Agent

Century 21 Consolidated

Listing Agent's Description

Beautiful 2-story in popular Providence community! Features granite kitchen counters & upgraded backsplash, espresso cabinetry, large walk-in pantry, a walk-in closet in every bedroom, den down & loft up w/upgraded wood stair railing, raised panel doors, TANKLESS water heater, low maintenance landscaping and attractive back yard w/ faux grass, shrubs, rocks & an alumaline covered patio. All appliances stay! Community pool, play ground and walking paths. TONS of storage everywhere! View the 3D virtual tour!

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
Kenneth Divich Elementary Primary Unknown NA
Edmundo Eddie Escobedo Sr Middle School Middle Regular 1,171 47 NA
Centennial High School High Regular 3,055 124 6

Kenneth Divich Elementary

  • Education Level: Primary
  • # of students:
  • # of teachers:
NA
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
 

$306,000$374,000$340,000

PURCHASE PRICE

$1,467$1,793$1,630

RENT

DOWN PAYMENT
FINANCING

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$200k$400k$600k$800k$1.0M

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

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,630
EXPENSES Loan Payment -$1,254
Property Tax -$308
Property Insurance -$71
HOA -$40
Property Management Fees -$119
CASH FLOW
-$163

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.

$340,000

PROJECTED PRICE

$1,630

PROJECTED RENT

0.48%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

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

TOTAL OUT OFPOCKET$95,850

INVESTMENT

$95,850

Down Payment
$85,000
Rehab Estimate
$5,750
Closing Costs
$5,100

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,254

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $85,000
Loan Amount $255,000
See What Happens When You Reinvest Cash Flow

3.42

YEARS SAVED

$11,791

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,630

    LIST RENT
  • $0.72

    LIST RENT PER SQFT
  • $1,732

    COMP ESTIMATED VALUE
  • $0.77

    COMP AVG. RENT PER SQFT
Comps Range
$1,600
1$1,6002$1,6303$1,7004$1,7505$1,800
$1,800
RENT COMPS ANALYSIS
  • 10820 Cather Avenue Las Vegas, NV 2
    • 3 beds 3 baths ∙ 2,264 Sqft ∙ Built 2015 3 beds 3 baths ∙ 2,264 Sqft ∙ Built 2015
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,630
    • $0.72
    •  
  • 6746 Haymarket Street Las Vegas, NV 1
    • 3 beds 3 baths ∙ 2,131 Sqft ∙ Built 2014 3 beds 3 baths ∙ 2,131 Sqft ∙ Built 2014
    property image
    LEASED 08/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $0.75
    •  
  • 10738 Red Badge Avenue Las Vegas, NV 3
    • 3 beds 3 baths ∙ 2,279 Sqft ∙ Built 2016 3 beds 3 baths ∙ 2,279 Sqft ∙ Built 2016
    property image
    LEASED 08/27/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $0.75
    •  
  • 10726 Wrigley Field Avenue Las Vegas, NV 4
    • 3 beds 3 baths ∙ 2,279 Sqft ∙ Built 2014 3 beds 3 baths ∙ 2,279 Sqft ∙ Built 2014
    property image
    LEASED 08/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.77
    •  
  • 10709 Red Badge Avenue Las Vegas, NV 5
    • 3 beds 3 baths ∙ 2,279 Sqft ∙ Built 2016 3 beds 3 baths ∙ 2,279 Sqft ∙ Built 2016
    property image
    LEASED 09/06/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $0.79
    •  
PROPERTY LISTING DETAILS
Donna R Kelton
1.702.423.3331
Century 21 Consolidated
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2224184
Last Updated: 08/25/2020
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