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1316 Alamosa Ridge Court North Las Vegas, NV 89084

4 Beds 3 Baths 2,373 sqft Built 2014

$390,000

List Price

$2,020

$1.8K - $2.2K

Rent Est.

PROPERTY INFO

January 01, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2014
  • Price/Sqft : $164.35
  • 7 Days on Market
  • MLS # : 2257764
  • Updated Date : 01/01/2021 at 10:30
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,373 sqft
  • Baths : 3 full
Listing Agent

Wardley Real Estate

Listing Agent's Description

This rare single story home located in gorgeous ALIANTE won’t last long. Features an open floor plan with neutral paint throughout, 4 bedrooms, 3 car garage located in Eldorado gated community. The KITCHEN has a massive granite island for all of your entertainment needs, large pantry, along with all stainless steel appliances. Covered backyard patio with cable and power hookups, fire pit and a playhouse that stays!! School & shopping is within walking distance, HOA is only $59/mo and so much more. Come see this home for yourself!

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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: El Dorado

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320k340kPrice in $110k347k

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

Neighborhood: El Dorado

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21000105011001150120012501300135014001450150015501600Rent in $9671606

* 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
Don E. Hayden Elementary School Primary Regular 702 38 6
Brian And Teri Cram Middle School Middle Regular 1,568 65 NA
Legacy High School High Regular 2,819 119 3

Don E. Hayden Elementary School

  • Education Level: Primary
  • # of students: 702
  • # of teachers: 38
6
GreatSchools Rating

Brian And Teri Cram Middle School

  • Education Level: Middle
  • # of students: 1,568
  • # of teachers: 65
NA
GreatSchools Rating

Legacy High School

  • Education Level: High
  • # of students: 2,819
  • # of teachers: 119
3
GreatSchools Rating
 

$351,000$429,000$390,000

PURCHASE PRICE

$1,818$2,222$2,020

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,020
EXPENSES Loan Payment -$1,439
Property Tax -$344
Property Insurance -$73
Property Management Fees -$119
CASH FLOW
$45

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.

$390,000

PROJECTED PRICE

$2,020

PROJECTED RENT

0.52%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.96%
Appreciation Year (1-5) 8.8%
Maintenance Year (1-5) 8.00%
Vacancy 7.63%
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$0.0$5.0k$10k$15k$20k

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$109,100

INVESTMENT

$109,100

Down Payment
$97,500
Rehab Estimate
$5,750
Closing Costs
$5,850

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 45% 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 $97,500
Loan Amount $292,500
See What Happens When You Reinvest Cash Flow

6.42

YEARS SAVED

$34,053

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,020

    LIST RENT
  • $0.85

    LIST RENT PER SQFT
  • $2,076

    COMP ESTIMATED VALUE
  • $0.88

    COMP AVG. RENT PER SQFT
Comps Range
$1,949
1$1,9492$2,0003$2,0204$2,1005$2,195
$2,195
RENT COMPS ANALYSIS
  • 1316 Alamosa Ridge Court North Las Vegas, NV 3
    • 4 beds 3 baths ∙ 2,373 Sqft ∙ Built 2014 4 beds 3 baths ∙ 2,373 Sqft ∙ Built 2014
    • Rent
    • Rent Per SQFT
    •  
    • $2,020
    • $0.85
    •  
  • 1904 La Calera Avenue North Las Vegas, NV 1
    • 3 beds 3 baths ∙ 2,320 Sqft ∙ Built 2008 3 beds 3 baths ∙ 2,320 Sqft ∙ Built 2008
    LEASED 10/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,949
    • $0.84
    •  
  • 7043 Denio Island Street North Las Vegas, NV 2
    • 4 beds 3 baths ∙ 2,217 Sqft ∙ Built 2019 4 beds 3 baths ∙ 2,217 Sqft ∙ Built 2019
    LEASED 08/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $0.90
    •  
  • 6740 Fireball Court North Las Vegas, NV 4
    • 4 beds 2 baths ∙ 2,436 Sqft ∙ Built 2018 4 beds 2 baths ∙ 2,436 Sqft ∙ Built 2018
    LEASED 08/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $0.86
    •  
  • 6629 Dome Rock Street North Las Vegas, NV 5
    • 4 beds 3 baths ∙ 2,436 Sqft ∙ Built 2016 4 beds 3 baths ∙ 2,436 Sqft ∙ Built 2016
    LEASED 02/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,195
    • $0.90
    •  
PROPERTY LISTING DETAILS
Jamela L Christian
1.702.353.6301
Wardley Real Estate
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2257764
Last Updated: 01/01/2021
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