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1816 Magdelena Ridge Avenue North Las Vegas, NV 89081

4 Beds 3 Baths 2,356 sqft Built 2013

$365,000

List Price

$1,630

$1.5K - $1.8K

Rent Est.

PROPERTY INFO

February 05, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2013
  • Price/Sqft : $154.92
  • 5 Days on Market
  • MLS # : 2266668
  • Updated Date : 02/06/2021 at 07:34
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,356 sqft
  • Baths : 2 full , 1 half
Listing Agent

Resolution Realty

Listing Agent's Description

NO SID!! Large POOL Sized Lot (possible RV Parking), Kitchen w/a large island, custom cabinets, granite counter tops, double oven, 18x18 tile flooring & carpet, Security Door, 4 Bedrms Upstairs, Den Downstairs (the 5th bedrm). Large Loft Upstairs. Ceiling fan/light, Cat 5 & Video pre-wire, Water Softener System, Tankless Hot Water Heater, Covered Patio,..MUST SEE.

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • As the largest share, Las Vegas metro contributes to 75.1% of Nevada state's economy i.e. Gross State Product (USMayors.org, 2018)

PRICE & RENT TRENDS

Neighborhood: La Madre and Lawrence

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320kPrice in $110k339k

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

Neighborhood: La Madre and Lawrence

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21000105011001150120012501300135014001450150015501600Rent in $9671607

* 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
Jesse Scott Elementary School Primary Regular 853 45 2
Clifford O. Findlay Middle School Middle Regular 1,372 59 NA
Mojave High School High Regular 2,311 103 2

Jesse Scott Elementary School

  • Education Level: Primary
  • # of students: 853
  • # of teachers: 45
2
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
 

$328,500$401,500$365,000

PURCHASE PRICE

$1,467$1,793$1,630

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,630
EXPENSES Loan Payment -$1,268
Property Tax -$299
Property Insurance -$73
Property Management Fees -$119
CASH FLOW
-$129

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.

$365,000

PROJECTED PRICE

$1,630

PROJECTED RENT

0.45%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.96%
Appreciation Year (1-5) 10.9%
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-$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$102,475

INVESTMENT

$102,475

Down Payment
$91,250
Rehab Estimate
$5,750
Closing Costs
$5,475

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,268

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $91,250
Loan Amount $273,750
See What Happens When You Reinvest Cash Flow

3.75

YEARS SAVED

$12,714

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,630

    LIST RENT
  • $0.69

    LIST RENT PER SQFT
  • $1,632

    COMP ESTIMATED VALUE
  • $0.69

    COMP AVG. RENT PER SQFT
Comps Range
$1,450
1$1,4502$1,5503$1,6004$1,6305$1,650
$1,650
RENT COMPS ANALYSIS
  • 1816 Magdelena Ridge Avenue North Las Vegas, NV 4
    • 4 beds 3 baths ∙ 2,356 Sqft ∙ Built 2013 4 beds 3 baths ∙ 2,356 Sqft ∙ Built 2013
    • Rent
    • Rent Per SQFT
    •  
    • $1,630
    • $0.69
    •  
  • 4836 Celsion Rock Street #0 North Las Vegas, NV 1
    • 4 beds 3 baths ∙ 2,171 Sqft ∙ Built 2004 4 beds 3 baths ∙ 2,171 Sqft ∙ Built 2004
    LEASED 03/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $0.67
    •  
  • 808 Caballo Hills Avenue North Las Vegas, NV 2
    • 4 beds 3 baths ∙ 2,249 Sqft ∙ Built 2006 4 beds 3 baths ∙ 2,249 Sqft ∙ Built 2006
    LEASED 11/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $0.69
    •  
  • 4956 Sapphire Light Street North Las Vegas, NV 3
    • 4 beds 3 baths ∙ 2,185 Sqft ∙ Built 2001 4 beds 3 baths ∙ 2,185 Sqft ∙ Built 2001
    LEASED 01/22/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $0.73
    •  
  • 5021 Drifting Pebble Street North Las Vegas, NV 5
    • 4 beds 3 baths ∙ 2,437 Sqft ∙ Built 2002 4 beds 3 baths ∙ 2,437 Sqft ∙ Built 2002
    LEASED 06/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.68
    •  
PROPERTY LISTING DETAILS
Katrina Deslatte-johnson
1.702.286.9771
Resolution Realty
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2266668
Last Updated: 02/06/2021
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