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11759 Fern Creek Lane Las Vegas, NV 89183

3 Beds 3 Baths 1,997 sqft Built 2007

$335,000

List Price

$1,460

$1.3K - $1.6K

Rent Est.

PROPERTY INFO

January 29, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2007
  • Price/Sqft : $167.75
  • 4 Days on Market
  • MLS # : 2264349
  • Updated Date : 01/29/2021 at 03:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,997 sqft
  • Baths : 2 full , 1 half
Listing Agent

Coldwell Banker Premier

Listing Agent's Description

Looking for a beautiful three bedroom home with a loft for the kids and a den for a home office? You've just found it! This baby sparkles with it's upgraded cabinets, granite kitchen with stainless steel appliances, a serene backyard with a covered patio for you to enjoy some shade while you’re barbecuing. You are literally a minute from Saint Rose Parkway, with easy access to the 15 freeway, restaurants, services, shopping and the RAIDERS headquarters. All appliances included! Welcome Home!

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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: Enterprise

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320k340k360kPrice in $119k362k

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

Neighborhood: Enterprise

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2100011001200130014001500160017001800Rent in $9981875

* 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
Steve Schorr Elementary School Primary Regular 1,042 54 7
Del E Webb Middle School Middle Regular 1,863 74 NA
Liberty High School High Regular 2,496 105 5

Steve Schorr Elementary School

  • Education Level: Primary
  • # of students: 1,042
  • # of teachers: 54
7
GreatSchools Rating

Del E Webb Middle School

  • Education Level: Middle
  • # of students: 1,863
  • # of teachers: 74
NA
GreatSchools Rating

Liberty High School

  • Education Level: High
  • # of students: 2,496
  • # of teachers: 105
5
GreatSchools Rating
 

$301,500$368,500$335,000

PURCHASE PRICE

$1,314$1,606$1,460

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,460
EXPENSES Loan Payment -$1,164
Property Tax -$229
Property Insurance -$66
Property Management Fees -$119
CASH FLOW
-$117

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.

$335,000

PROJECTED PRICE

$1,460

PROJECTED RENT

0.44%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.05%
Appreciation Year (1-5) 9.8%
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-$4.0k-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k

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$94,525

INVESTMENT

$94,525

Down Payment
$83,750
Rehab Estimate
$5,750
Closing Costs
$5,025

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,164

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $83,750
Loan Amount $251,250
See What Happens When You Reinvest Cash Flow

4.08

YEARS SAVED

$12,713

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,460

    LIST RENT
  • $0.73

    LIST RENT PER SQFT
  • $1,628

    COMP ESTIMATED VALUE
  • $0.82

    COMP AVG. RENT PER SQFT
Comps Range
$1,460
1$1,4602$1,5503$1,5954$1,5955$1,680
$1,680
RENT COMPS ANALYSIS
  • 11759 Fern Creek Lane Las Vegas, NV 1
    • 3 beds 3 baths ∙ 1,997 Sqft ∙ Built 2007 3 beds 3 baths ∙ 1,997 Sqft ∙ Built 2007
    • Rent
    • Rent Per SQFT
    •  
    • $1,460
    • $0.73
    •  
  • 11677 Splendor View Drive Las Vegas, NV 2
    • 3 beds 3 baths ∙ 1,851 Sqft ∙ Built 2006 3 beds 3 baths ∙ 1,851 Sqft ∙ Built 2006
    LEASED 08/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $0.84
    •  
  • 11781 Village Arbor Street Las Vegas, NV 3
    • 3 beds 2 baths ∙ 2,030 Sqft ∙ Built 2006 3 beds 2 baths ∙ 2,030 Sqft ∙ Built 2006
    LEASED 02/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $0.79
    •  
  • 11650 Nardo Court Las Vegas, NV 4
    • 4 beds 3 baths ∙ 1,993 Sqft ∙ Built 2005 4 beds 3 baths ∙ 1,993 Sqft ∙ Built 2005
    LEASED 02/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $0.80
    •  
  • 205 Lantana Breeze Las Vegas, NV 5
    • 3 beds 3 baths ∙ 2,030 Sqft ∙ Built 2006 3 beds 3 baths ∙ 2,030 Sqft ∙ Built 2006
    LEASED 06/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,680
    • $0.83
    •  
PROPERTY LISTING DETAILS
Brandon L Bueltel
1.702.285.1528
Coldwell Banker Premier
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2264349
Last Updated: 01/29/2021
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