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1845 Ferrell Street Las Vegas, NV 89106

2 Beds 3 Baths 1,090 sqft Built 2008

INVESTimate

$185,888

List Price

$1,140

$1,026 - $1,254

Rent Est.

$208,306  ( +12.06%)   1 YR EST. FORECAST

PROPERTY INFO

August 25, 2020 RECENTLY ADDED
FACTS
  • Built In 2008
  • Price/Sqft : $170.54
  • 2 Days on Market
  • MLS # : 2224487
  • Updated Date : 08/25/2020 at 16:00
CONSTRUCTION
  • Beds : 2
  • Floor Size : 1,090 sqft
  • Baths : 2 full , 1 half
Listing Agent

Ideal Homes Realty Llc

Listing Agent's Description

Cozy 2 bed 2.5 bath home FOR SALE in North LV. Only ever had 1 owner & was owner occupied since it was purchased brand new. Tile flooring throughout 1st floor. easy viewing, schedule with an agent now and come take a look!!!!!! HAPPY VIEWING :)

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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: West Las Vegas

NeighborhoodNIR Market*CityMarket2010Year2000201980k100k120k140k160k180k200k220k240k260k280kPrice in $67k296k

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

Neighborhood: West Las Vegas

NeighborhoodNIR Market*CityMarket2010Year20002019 Q29009501000105011001150120012501300135014001450150015501600Rent in $8971603

* 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
Ollie Detwiler Elementary School Primary Regular 733 41 1
West Preparatory Instititute School For Academic Excellence Middle Regular 1,353 64 7
West Preparatory Instititute School For Academic Excellence High Regular 1,353 64 7

Ollie Detwiler Elementary School

  • Education Level: Primary
  • # of students: 733
  • # of teachers: 41
1
GreatSchools Rating

West Preparatory Instititute School For Academic Excellence

  • Education Level: Middle
  • # of students: 1,353
  • # of teachers: 64
7
GreatSchools Rating

West Preparatory Instititute School For Academic Excellence

  • Education Level: High
  • # of students: 1,353
  • # of teachers: 64
7
GreatSchools Rating
 

$167,299$204,477$185,888

PURCHASE PRICE

$1,026$1,254$1,140

RENT

DOWN PAYMENT
FINANCING

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$100k$200k$300k$400k$500k$600k$700k$800k

PROJECTED ANNUAL CASH FLOW

11530$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k$700k

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,140
EXPENSES Loan Payment -$686
Property Tax -$160
Property Insurance -$48
HOA -$55
Property Management Fees -$119
CASH FLOW
$72

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.

$185,888

PROJECTED PRICE

$1,140

PROJECTED RENT

0.61%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.75%
Appreciation Year (1-5) 12.06%
Maintenance Year (1-5) 8.00%
Vacancy 8.50%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$55,010

INVESTMENT

$55,010

Down Payment
$46,472
Rehab Estimate
$5,750
Closing Costs
$2,788

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$686

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $46,472
Loan Amount $139,416
See What Happens When You Reinvest Cash Flow

7.08

YEARS SAVED

$18,438

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,140

    LIST RENT
  • $1.05

    LIST RENT PER SQFT
  • $1,128

    COMP ESTIMATED VALUE
  • $1.04

    COMP AVG. RENT PER SQFT
Comps Range
$950
1$9502$1,0953$1,1004$1,1405$1,150
$1,150
RENT COMPS ANALYSIS
  • 1845 Ferrell Street Las Vegas, NV 4
    • 2 beds 3 baths ∙ 1,090 Sqft ∙ Built 2008 2 beds 3 baths ∙ 1,090 Sqft ∙ Built 2008
    • Rent
    • Rent Per SQFT
    •  
    • $1,140
    • $1.05
    •  
  • 2019 Rancho Lake Drive #107 Las Vegas, NV 1
    • 2 beds 2 baths ∙ 935 Sqft ∙ Built 2004 2 beds 2 baths ∙ 935 Sqft ∙ Built 2004
    LEASED 02/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $950
    • $1.02
    •  
  • 1470 Elizabeth Avenue #3 Las Vegas, NV 2
    • 2 beds 2 baths ∙ 1,091 Sqft ∙ Built 1993 2 beds 2 baths ∙ 1,091 Sqft ∙ Built 1993
    LEASED 08/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,095
    • $1.00
    •  
  • 1836 Star Sapphire Court Las Vegas, NV 3
    • 2 beds 2 baths ∙ 1,028 Sqft ∙ Built 1998 2 beds 2 baths ∙ 1,028 Sqft ∙ Built 1998
    LEASED 10/11/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,100
    • $1.07
    •  
  • 2501 Duck Arrow Circle Las Vegas, NV 5
    • 2 beds 2 baths ∙ 1,091 Sqft ∙ Built 1993 2 beds 2 baths ∙ 1,091 Sqft ∙ Built 1993
    LEASED 05/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,150
    • $1.05
    •  
PROPERTY LISTING DETAILS
Nathan J Bowen
1.702.573.0000
Ideal Homes Realty Llc
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2224487
Last Updated: 08/25/2020
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