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1169 Black Cherry Street Las Vegas, NV 89142

2 Beds 2 Baths 1,278 sqft Built 2004

$225,000

List Price

$1,100

$990 - $1.2K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 20, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2004
  • Price/Sqft : $176.06
  • 2 Days on Market
  • MLS # : 2280248
  • Updated Date : 03/20/2021 at 21:44
CONSTRUCTION
  • Beds : 2
  • Floor Size : 1,278 sqft
  • Baths : 1 full , 1 half
Listing Agent

Realty One Group, Inc

Listing Agent's Description

Perfect home for first time buyers! Low maintenance desert landscape. All appliances, refrigerator, washer, dryer and microwave included! Start w/ a fresh slate, new paint and carpet throughout! Ceiling fans. Recessed lighting in kitchen w/ pantry. One car garage w/ entry into home. 12x12 airy loft, can be office, playroom, exercise room, let your imagination decide. Upstairs enclosed laundry area w/ storage shelves. Very large walk in closet in master bedroom. Corner lot! Close to freeway access, shopping center and schools.

SEE MORE

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: Orchards

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260k280kPrice in $84k296k

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

Neighborhood: Orchards

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21000105011001150120012501300135014001450150015501600Rent in $9651603

* 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
Daniel Goldfarb Elementary School Primary Regular 838 38 6
Kathleen And Tim Harney Middle School Middle Regular 1,845 71 NA
Las Vegas High School High Regular 3,077 121 4

Daniel Goldfarb Elementary School

  • Education Level: Primary
  • # of students: 838
  • # of teachers: 38
6
GreatSchools Rating

Kathleen And Tim Harney Middle School

  • Education Level: Middle
  • # of students: 1,845
  • # of teachers: 71
NA
GreatSchools Rating

Las Vegas High School

  • Education Level: High
  • # of students: 3,077
  • # of teachers: 121
4
GreatSchools Rating
 

$202,500$247,500$225,000

PURCHASE PRICE

$990$1,210$1,100

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,100
EXPENSES Loan Payment -$782
Property Tax -$141
Property Insurance -$52
Property Management Fees -$119
CASH FLOW
$6

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 17% of earned rent to cover both maintenance and periods of vacancy.

$225,000

PROJECTED PRICE

$1,100

PROJECTED RENT

0.49%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.75%
Appreciation Year (1-5) 11.3%
Maintenance Year (1-5) 8.00%
Vacancy 8.50%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

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

PROJECTED ANNUAL CASH FLOW

11530-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k$700k$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$65,375

INVESTMENT

$65,375

Down Payment
$56,250
Rehab Estimate
$5,750
Closing Costs
$3,375

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 50% down payment or higher enables the proceeds from the asset to cover all costs.

$782

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $56,250
Loan Amount $168,750
See What Happens When You Reinvest Cash Flow

5.5

YEARS SAVED

$13,439

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,100

    LIST RENT
  • $0.86

    LIST RENT PER SQFT
  • $1,182

    COMP ESTIMATED VALUE
  • $0.93

    COMP AVG. RENT PER SQFT
Comps Range
$895
1$8952$1,0003$1,0254$1,1005$1,300
$1,300
RENT COMPS ANALYSIS
  • 1169 Black Cherry Street Las Vegas, NV 4
    • 2 beds 2 baths ∙ 1,278 Sqft ∙ Built 2004 2 beds 2 baths ∙ 1,278 Sqft ∙ Built 2004
    • Rent
    • Rent Per SQFT
    •  
    • $1,100
    • $0.86
    •  
  • 5650 Sahara #1016 Las Vegas, NV 1
    • 2 beds 2 baths ∙ 958 Sqft ∙ Built 2002 2 beds 2 baths ∙ 958 Sqft ∙ Built 2002
    LEASED 05/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $895
    • $0.93
    •  
  • 1405 Nellis #1029 Las Vegas, NV 2
    • 2 beds 2 baths ∙ 1,080 Sqft ∙ Built 1998 2 beds 2 baths ∙ 1,080 Sqft ∙ Built 1998
    LEASED 06/26/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,000
    • $0.93
    •  
  • 1300 Arlington #122 Las Vegas, NV 3
    • 2 beds 2 baths ∙ 1,118 Sqft ∙ Built 1998 2 beds 2 baths ∙ 1,118 Sqft ∙ Built 1998
    LEASED 06/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,025
    • $0.92
    •  
  • 2080 Betty Davis Street Las Vegas, NV 5
    • 2 beds 3 baths ∙ 1,418 Sqft ∙ Built 2002 2 beds 3 baths ∙ 1,418 Sqft ∙ Built 2002
    LEASED 11/01/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,300
    • $0.92
    •  
PROPERTY LISTING DETAILS
Kym E Booke
1.702.525.5498
Realty One Group, Inc
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2280248
Last Updated: 03/20/2021
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