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10825 Irving Park Avenue Las Vegas, NV 89166

3 Beds 3 Baths 2,528 sqft Built 2017

$599,999

List Price

$1,960

$1.8K - $2.2K

Rent Est.

PROPERTY INFO

November 05, 2020 RECENTLY ADDED
FACTS
  • Built In 2017
  • Price/Sqft : $237.34
  • 4 Days on Market
  • MLS # : 2244241
  • Updated Date : 11/07/2020 at 11:53
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,528 sqft
  • Baths : 2 full , 1 half
Listing Agent

Deven Chase Realty

Listing Agent's Description

This expansive, turnkey 3 bed/2.5 bath, 2500+ sq ft home is a positive example of a tastefully adorned single-story, ranch style property. Fully remodeled with a beautiful kitchen and an AMAZING, oversized en suite master bathroom with built-out walk-in closet by Classy closets with chandeliers, Control 4 system with remote and app, Carrara white, matte porcelain tile throughout, upgraded bathrooms, Klipsch home audio & surround sound, board & batten feature wall in living room, Cat 6 wires throughout, plantation shutters by Sunburst, crown molding, custom lighting & fans throughout. Iron front door with dual pane glass inserts at entrance with Ring doorbell. Better than new backyard oasis, built-in BBQ, TV built-in, upgraded ceiling fans inside and out, all newer appliances in place and convey with property.

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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)

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
 

$539,999$659,999$599,999

PURCHASE PRICE

$1,764$2,156$1,960

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,960
EXPENSES Loan Payment -$2,214
Property Tax -$442
Property Insurance -$76
Property Management Fees -$119
CASH FLOW
-$891

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.

$599,999

PROJECTED PRICE

$1,960

PROJECTED RENT

0.33%

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$1.8M

PROJECTED ANNUAL CASH FLOW

11530-$15k-$10k-$5.0k$0.0$5.0k$10k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M$1.6M$1.8M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$164,750

INVESTMENT

$164,750

Down Payment
$150,000
Rehab Estimate
$5,750
Closing Costs
$9,000

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 70% down payment or higher enables the proceeds from the asset to cover all costs.

$2,214

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $150,000
Loan Amount $449,999
See What Happens When You Reinvest Cash Flow

0.25

YEARS SAVED

$152

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,960

    LIST RENT
  • $0.78

    LIST RENT PER SQFT
  • $1,991

    COMP ESTIMATED VALUE
  • $0.79

    COMP AVG. RENT PER SQFT
Comps Range
$1,895
1$1,8952$1,8953$1,8954$1,9005$1,960
$1,960
RENT COMPS ANALYSIS
  • 10825 Irving Park Avenue Las Vegas, NV 5
    • 3 beds 3 baths ∙ 2,528 Sqft ∙ Built 2017 3 beds 3 baths ∙ 2,528 Sqft ∙ Built 2017
    • Rent
    • Rent Per SQFT
    •  
    • $1,960
    • $0.78
    •  
  • 10533 Fulbright Avenue Las Vegas, NV 1
    • 4 beds 3 baths ∙ 2,411 Sqft ∙ Built 2013 4 beds 3 baths ∙ 2,411 Sqft ∙ Built 2013
    LEASED 11/12/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,895
    • $0.79
    •  
  • 7032 Whitford Street Las Vegas, NV 2
    • 4 beds 3 baths ∙ 2,411 Sqft ∙ Built 2010 4 beds 3 baths ∙ 2,411 Sqft ∙ Built 2010
    LEASED 07/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,895
    • $0.79
    •  
  • 10719 York Manor Avenue Las Vegas, NV 3
    • 3 beds 3 baths ∙ 2,361 Sqft ∙ Built 2012 3 beds 3 baths ∙ 2,361 Sqft ∙ Built 2012
    LEASED 09/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,895
    • $0.80
    •  
  • 10416 Loma Portal Las Vegas, NV 4
    • 3 beds 3 baths ∙ 2,460 Sqft ∙ Built 2008 3 beds 3 baths ∙ 2,460 Sqft ∙ Built 2008
    LEASED 06/26/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,900
    • $0.77
    •  
PROPERTY LISTING DETAILS
Deven Chase
1.702.241.5065
Deven Chase Realty
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2244241
Last Updated: 11/07/2020
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