Work with a dedicated Real Estate Advisor who will take your financial preferences and help you select and acquire properties that fit your criteria. Learn more

124 Spur Ranch Avenue Avenue North Las Vegas, NV 89032

5 Beds 4 Baths 3,079 sqft Built 2009

$389,000

List Price

$1,750

$1.6K - $1.9K

Rent Est.

PROPERTY INFO

January 30, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2009
  • Price/Sqft : $126.34
  • 3 Days on Market
  • MLS # : 2265305
  • Updated Date : 01/30/2021 at 04:00
CONSTRUCTION
  • Beds : 5
  • Floor Size : 3,079 sqft
  • Baths : 3 full , 1 half
Listing Agent

Vegas 99 Realty

Listing Agent's Description

Large spacious 5 bedroom 2 story with a great floor plan, Bedroom & bath downstairs, formal living and dining room combo, separate family room with fireplace, large kitchen with New stainless appliances, granite counters, tons of cabinets, island. Loft upstairs, Bedrooms and large master suite w/ master bath with separate tub and shower. Extra Large back yard with desert landscape.

SEE MORE

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: North Las Vegas

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260k280kPrice in $84k296k

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

Neighborhood: North Las Vegas

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
Dr Claude Perkins Elementary School Primary Regular 682 40 4
Marvin M Sedway Middle School Middle Regular 1,514 52 NA
Canyon Springs High School High Magnet 2,791 114 2

Dr Claude Perkins Elementary School

  • Education Level: Primary
  • # of students: 682
  • # of teachers: 40
4
GreatSchools Rating

Marvin M Sedway Middle School

  • Education Level: Middle
  • # of students: 1,514
  • # of teachers: 52
NA
GreatSchools Rating

Canyon Springs High School

  • Education Level: High
  • # of students: 2,791
  • # of teachers: 114
2
GreatSchools Rating
 

$350,100$427,900$389,000

PURCHASE PRICE

$1,575$1,925$1,750

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,750
EXPENSES Loan Payment -$1,351
Property Tax -$319
Property Insurance -$87
Property Management Fees -$119
CASH FLOW
-$125

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.

$389,000

PROJECTED PRICE

$1,750

PROJECTED RENT

0.45%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.75%
Appreciation Year (1-5) 11.1%
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$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$108,835

INVESTMENT

$108,835

Down Payment
$97,250
Rehab Estimate
$5,750
Closing Costs
$5,835

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,351

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $97,250
Loan Amount $291,750
See What Happens When You Reinvest Cash Flow

3.5

YEARS SAVED

$11,808

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,750

    LIST RENT
  • $0.57

    LIST RENT PER SQFT
  • $1,901

    COMP ESTIMATED VALUE
  • $0.62

    COMP AVG. RENT PER SQFT
Comps Range
$1,750
1$1,7502$1,9003$1,9504$1,9955$2,000
$2,000
RENT COMPS ANALYSIS
  • 124 Spur Ranch Avenue Avenue North Las Vegas, NV 1
    • 5 beds 4 baths ∙ 3,079 Sqft ∙ Built 2009 5 beds 4 baths ∙ 3,079 Sqft ∙ Built 2009
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.57
    •  
  • 723 Glenwood Springs Avenue North Las Vegas, NV 2
    • 6 beds 4 baths ∙ 3,223 Sqft ∙ Built 1999 6 beds 4 baths ∙ 3,223 Sqft ∙ Built 1999
    property image
    LEASED 11/06/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,900
    • $0.59
    •  
  • 3910 Eagle Rose Street #0 North Las Vegas, NV 3
    • 5 beds 5 baths ∙ 3,224 Sqft ∙ Built 2003 5 beds 5 baths ∙ 3,224 Sqft ∙ Built 2003
    property image
    LEASED 04/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $0.60
    •  
  • 3836 Goldfield Street #0 North Las Vegas, NV 4
    • 5 beds 3 baths ∙ 3,079 Sqft ∙ Built 2006 5 beds 3 baths ∙ 3,079 Sqft ∙ Built 2006
    property image
    LEASED 06/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,995
    • $0.65
    •  
  • 1209 Checkmark Avenue North Las Vegas, NV 5
    • 6 beds 2 baths ∙ 3,196 Sqft ∙ Built 2006 6 beds 2 baths ∙ 3,196 Sqft ∙ Built 2006
    property image
    LEASED 01/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $0.63
    •  
PROPERTY LISTING DETAILS
Jennifer H Delman
1.702.762.5324
Vegas 99 Realty
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2265305
Last Updated: 01/30/2021
BESbswy