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1213 Stoneypeak Avenue North Las Vegas, NV 89081

4 Beds 2 Baths 2,158 sqft Built 1996

$306,000

List Price

$1,650

$1.5K - $1.8K

Rent Est.

PROPERTY INFO

FACTS
  • Built In 1996
  • Price/Sqft : $141.80
  • 48 Days on Market
  • MLS # : 2232850
  • Updated Date : 11/02/2020 at 09:53
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,158 sqft
  • Baths : 2 full
Listing Agent

Bhhs Nevada Properties

Listing Agent's Description

Investment opportunity. Rare four bedroom single story home on large lot. Minutes to North Las Vegas City Park, Shadow Creek Golf Club & I-15. Terrific open floor plan. No HOA. This home CANNOT BE SHOWN at this time.

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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: Cobblestone Ridge

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260k280kPrice in $84k296k

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

Neighborhood: Cobblestone Ridge

NeighborhoodNIR Market*CityMarket2010Year20002019 Q29501000105011001150120012501300135014001450150015501600Rent in $9481603

* 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
Raul Elizondo Elementary School Primary Regular 774 42 5
Clifford O. Findlay Middle School Middle Regular 1,372 59 NA
Mojave High School High Regular 2,311 103 2

Raul Elizondo Elementary School

  • Education Level: Primary
  • # of students: 774
  • # of teachers: 42
5
GreatSchools Rating

Clifford O. Findlay Middle School

  • Education Level: Middle
  • # of students: 1,372
  • # of teachers: 59
NA
GreatSchools Rating

Mojave High School

  • Education Level: High
  • # of students: 2,311
  • # of teachers: 103
2
GreatSchools Rating
 

$275,400$336,600$306,000

PURCHASE PRICE

$1,485$1,815$1,650

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,650
EXPENSES Loan Payment -$1,129
Property Tax -$236
Property Insurance -$69
Property Management Fees -$119
CASH FLOW
$97

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.

$306,000

PROJECTED PRICE

$1,650

PROJECTED RENT

0.54%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.75%
Appreciation Year (1-5) 11.6%
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$1.0M$1.2M

PROJECTED ANNUAL CASH FLOW

11530$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$86,840

INVESTMENT

$86,840

Down Payment
$76,500
Rehab Estimate
$5,750
Closing Costs
$4,590

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 45% down payment or higher enables the proceeds from the asset to cover all costs.

$1,129

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $76,500
Loan Amount $229,500
See What Happens When You Reinvest Cash Flow

7

YEARS SAVED

$30,369

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,650

    LIST RENT
  • $0.76

    LIST RENT PER SQFT
  • $1,640

    COMP ESTIMATED VALUE
  • $0.76

    COMP AVG. RENT PER SQFT
Comps Range
$1,495
1$1,4952$1,6453$1,6504$1,6505$1,650
$1,650
RENT COMPS ANALYSIS
  • 1213 Stoneypeak Avenue North Las Vegas, NV 5
    • 4 beds 2 baths ∙ 2,158 Sqft ∙ Built 1996 4 beds 2 baths ∙ 2,158 Sqft ∙ Built 1996
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.76
    •  
  • 29 Rosa Rosales North Las Vegas, NV 1
    • 5 beds 3 baths ∙ 2,116 Sqft ∙ Built 2006 5 beds 3 baths ∙ 2,116 Sqft ∙ Built 2006
    LEASED 05/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,495
    • $0.71
    •  
  • 4932 Sevier Desert Street North Las Vegas, NV 2
    • 3 beds 3 baths ∙ 2,095 Sqft ∙ Built 2011 3 beds 3 baths ∙ 2,095 Sqft ∙ Built 2011
    LEASED 07/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,645
    • $0.79
    •  
  • 1113 Ripplestone Avenue North Las Vegas, NV 3
    • 4 beds 2 baths ∙ 2,158 Sqft ∙ Built 1997 4 beds 2 baths ∙ 2,158 Sqft ∙ Built 1997
    LEASED 11/26/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.76
    •  
  • 5045 Harold Street North Las Vegas, NV 4
    • 3 beds 2 baths ∙ 2,110 Sqft ∙ Built 1984 3 beds 2 baths ∙ 2,110 Sqft ∙ Built 1984
    LEASED 04/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.78
    •  
PROPERTY LISTING DETAILS
Rich Crithfield
1.702.686.8736
Bhhs Nevada Properties
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2232850
Last Updated: 11/02/2020
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