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11213 Ojai Court Las Vegas, NV 89135

3 Beds 3 Baths 1,954 sqft Built 2012

INVESTimate

$429,000

List Price

$1,930

$1,737 - $2,123

Rent Est.

$463,234  ( +7.98%)   1 YR EST. FORECAST

PROPERTY INFO

August 21, 2020 RECENTLY ADDED
FACTS
  • Built In 2012
  • Price/Sqft : $219.55
  • 6 Days on Market
  • MLS # : 2223466
  • Updated Date : 08/21/2020 at 18:30
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,954 sqft
  • Baths : 2 full , 1 half
Listing Agent

Realty One Group, Inc

Listing Agent's Description

GORGEOUS! UPGRADES INCL OWNED SOLAR PANELS (LEED GOLD CERTIFIED) NEW "ETERNITY NORDIC" 50 YR CORE VINYL PLANK FLOOR W/5" BASEBOARDS*2 TONE PAINT THRUOUT*BIRCH KITCHEN CAB W/ROLLOUT DRAWERS*PENDANT LIGHTING*TILE BACKSPLASH & FRONT OF ISLAND*NEW KITCHEN SHADES*WAINSCOTING*HIDDEN STORAGE UNDER STAIRS*UPGRADED RAILING*MANY EXTRA SHELVES IN ALL CLOSETS, PANTRY & LAUNDRY RM*UPGRADED CARPET & PAD*EXT SYNTHETIC TURF, CONCRETE, PAVERS*WATER SOFTENER*CEILING FANS IN ALL BEDRMS*NEW CABINET & FAUCET IN 1/2 BATH*LOFT HAS LED CEILING LIGHT AS WELL AS A FAN PREWIRE*TOO MANY UPGRADES TO LIST*ADJACENT TO RED ROCK CASINO, DOWNTOWN SUMMERLIN, PRACTICE ARENA FOR VGK & BASEBALL PARK* A MUST SEE!

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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: Summerlin Centre

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320k340k360kPrice in $119k380k

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

Neighborhood: Summerlin Centre

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21100120013001400150016001700180019002000Rent in $10762040

* 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
Judy And John Goolsby Elementary School Primary Regular 807 42 10
Sig Rogich Middle School Middle Regular 1,845 70 NA
Palo Verde High School High Regular 3,024 114 9

Judy And John Goolsby Elementary School

  • Education Level: Primary
  • # of students: 807
  • # of teachers: 42
10
GreatSchools Rating

Sig Rogich Middle School

  • Education Level: Middle
  • # of students: 1,845
  • # of teachers: 70
NA
GreatSchools Rating

Palo Verde High School

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

$386,100$471,900$429,000

PURCHASE PRICE

$1,737$2,123$1,930

RENT

DOWN PAYMENT
FINANCING

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M

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$1.2M$1.4M

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,930
EXPENSES Loan Payment -$1,583
Property Tax -$269
Property Insurance -$65
HOA -$141
Property Management Fees -$119
CASH FLOW
-$247

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.

$429,000

PROJECTED PRICE

$1,930

PROJECTED RENT

0.45%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.05%
Appreciation Year (1-5) 7.98%
Maintenance Year (1-5) 8.00%
Vacancy 7.57%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$119,435

INVESTMENT

$119,435

Down Payment
$107,250
Rehab Estimate
$5,750
Closing Costs
$6,435

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 60% down payment or higher enables the proceeds from the asset to cover all costs.

$1,583

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $107,250
Loan Amount $321,750
See What Happens When You Reinvest Cash Flow

3

YEARS SAVED

$11,981

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,930

    LIST RENT
  • $0.99

    LIST RENT PER SQFT
  • $2,115

    COMP ESTIMATED VALUE
  • $1.08

    COMP AVG. RENT PER SQFT
Comps Range
$1,800
1$1,8002$1,9303$1,9504$2,2005$2,250
$2,250
RENT COMPS ANALYSIS
  • 11213 Ojai Court Las Vegas, NV 2
    • 3 beds 3 baths ∙ 1,954 Sqft ∙ Built 2012 3 beds 3 baths ∙ 1,954 Sqft ∙ Built 2012
    • Rent
    • Rent Per SQFT
    •  
    • $1,930
    • $0.99
    •  
  • 2025 Ardilea Street Las Vegas, NV 1
    • 3 beds 4 baths ∙ 1,846 Sqft ∙ Built 2009 3 beds 4 baths ∙ 1,846 Sqft ∙ Built 2009
    LEASED 07/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $0.98
    •  
  • 11277 Corsica Mist Avenue Las Vegas, NV 3
    • 4 beds 3 baths ∙ 1,816 Sqft ∙ Built 2005 4 beds 3 baths ∙ 1,816 Sqft ∙ Built 2005
    LEASED 08/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $1.07
    •  
  • 11235 Ventura Grass Court Las Vegas, NV 4
    • 4 beds 3 baths ∙ 1,954 Sqft ∙ Built 2013 4 beds 3 baths ∙ 1,954 Sqft ∙ Built 2013
    LEASED 09/17/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $1.13
    •  
  • 11238 Ventura Grass Court Las Vegas, NV 5
    • 3 beds 3 baths ∙ 1,954 Sqft ∙ Built 2013 3 beds 3 baths ∙ 1,954 Sqft ∙ Built 2013
    LEASED 08/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,250
    • $1.15
    •  
PROPERTY LISTING DETAILS
Julie H Austin
1.702.610.9594
Realty One Group, Inc
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2223466
Last Updated: 08/21/2020
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