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11220 Ivybridge Avenue Las Vegas, NV 89138

3 Beds 2 Baths 1,621 sqft Built 2003

$389,900

List Price

$1,640

$1.5K - $1.8K

Rent Est.

PROPERTY INFO

November 01, 2020 RECENTLY ADDED
FACTS
  • Built In 2003
  • Price/Sqft : $240.53
  • 4 Days on Market
  • MLS # : 2243834
  • Updated Date : 10/31/2020 at 21:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,621 sqft
  • Baths : 2 full
Listing Agent

Coldwell Banker Premier

Listing Agent's Description

ADORABLE SINGLE STORY HOME IN SUMMERLIN!! ORIGINAL OWNERS CARED & LOVED THIS HOME FOR A LONG TIME & HAS ENJOYED EVERY MINUTE OF IT. HOME HAS VAULTED CEILINGS IN MOST AREAS, OPEN & SPACIOUS LIVING ROOM, KITCHEN & DINING ROOM. MASTER BEDROOM, MASTER BATH WITH SEPARATE TUB & SHOWER, DUAL SINK VANITY, WALK-IN CLOSET & MIRRORED CLOSET DOORS. KITCHEN ISLAND WITH BREAKFAST BAR, CORIAN COUNTER TOPS, PANTRY & ALL APPLIANCES ARE INCLUDED. BACKYARD HAS COVERED PATIO & EXTENDED STONED PATIO. EASY ACCESS TO 215 BELTWAY, WITHIN FEW MINUTES TO RED ROCK CANYON, DOWNTOWN SUMMERLIN, VGK PRACTICE ARENA, LV BALLPARK, PREMIUM SHOPPING & DINING. THIS IS A MUST SEE!!

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MARKET HIGHLIGHTS

  • 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)
  • 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)

PRICE & RENT TRENDS

Neighborhood: The Vistas

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450kPrice in $119k457k

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

Neighborhood: The Vistas

NeighborhoodNIR Market*CityMarket2010Year20002019 Q211001200130014001500160017001800190020002100Rent in $10762145

* 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
Linda Rankin Givens Elementary School Primary Regular 1,100 52 9
Sig Rogich Middle School Middle Regular 1,845 70 NA
Palo Verde High School High Regular 3,024 114 9

Linda Rankin Givens Elementary School

  • Education Level: Primary
  • # of students: 1,100
  • # of teachers: 52
9
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
 

$350,910$428,890$389,900

PURCHASE PRICE

$1,476$1,804$1,640

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,640
EXPENSES Loan Payment -$1,439
Property Tax -$270
Property Insurance -$59
Property Management Fees -$119
CASH FLOW
-$246

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.

$389,900

PROJECTED PRICE

$1,640

PROJECTED RENT

0.42%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.05%
Appreciation Year (1-5) 6.9%
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

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$109,074

INVESTMENT

$109,074

Down Payment
$97,475
Rehab Estimate
$5,750
Closing Costs
$5,849

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,439

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $97,475
Loan Amount $292,425
See What Happens When You Reinvest Cash Flow

2.92

YEARS SAVED

$10,460

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,640

    LIST RENT
  • $1.01

    LIST RENT PER SQFT
  • $1,645

    COMP ESTIMATED VALUE
  • $1.02

    COMP AVG. RENT PER SQFT
Comps Range
$1,511
1$1,5112$1,6403$1,6504$1,7505$1,775
$1,775
RENT COMPS ANALYSIS
  • 11220 Ivybridge Avenue Las Vegas, NV 2
    • 3 beds 2 baths ∙ 1,621 Sqft ∙ Built 2003 3 beds 2 baths ∙ 1,621 Sqft ∙ Built 2003
    • Rent
    • Rent Per SQFT
    •  
    • $1,640
    • $1.01
    •  
  • 11029 Sonoma Creek Court Las Vegas, NV 1
    • 3 beds 3 baths ∙ 1,504 Sqft ∙ Built 2000 3 beds 3 baths ∙ 1,504 Sqft ∙ Built 2000
    LEASED 08/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,511
    • $1.00
    •  
  • 11213 Vintners Lane #0 Las Vegas, NV 3
    • 3 beds 2 baths ∙ 1,672 Sqft ∙ Built 2002 3 beds 2 baths ∙ 1,672 Sqft ∙ Built 2002
    LEASED 01/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.99
    •  
  • 11235 Blanc Vineyard Court Las Vegas, NV 4
    • 3 beds 2 baths ∙ 1,667 Sqft ∙ Built 2002 3 beds 2 baths ∙ 1,667 Sqft ∙ Built 2002
    LEASED 05/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $1.05
    •  
  • 328 Sonoma Valley Street #0 Las Vegas, NV 5
    • 3 beds 3 baths ∙ 1,737 Sqft ∙ Built 2001 3 beds 3 baths ∙ 1,737 Sqft ∙ Built 2001
    LEASED 09/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,775
    • $1.02
    •  
PROPERTY LISTING DETAILS
Kaori S Guerra
1.702.496.7372
Coldwell Banker Premier
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2243834
Last Updated: 10/31/2020
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