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185 Water Hazard Lane Las Vegas, NV 89148

3 Beds 3 Baths 1,819 sqft Built 2005

$395,000

List Price

$1,720

$1.5K - $1.9K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 21, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2005
  • Price/Sqft : $217.15
  • 2 Days on Market
  • MLS # : 2280387
  • Updated Date : 03/21/2021 at 06:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,819 sqft
  • Baths : 2 full , 1 half
Listing Agent

Williams-shelton & Associates

Listing Agent's Description

SPACIOUS SOUTHWEST 2 STORY HOME IN THE GUARD GATED RHODES RANCH COMMUNITY. 3 BEDS, 2 BATHS HOUSE WITH OPEN FLOOR PLAN. ALL APPLIANCES INCLUDED. AMENITIES INCLUDE RESORT STYLE COMMUNITY POOLS & SPA WITH FUN ZONE WATER PARK, CLUBHOUSE, EXERCISE FACILITY, GOLF COURSE, TENNIS COURTS AND MUCH MORE. CONVENIENTLY LOCATED ADJACENT TO SCHOOLS, FREEWAY & SHOPPING

SEE MORE

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: Rhodes Ranch

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320kPrice in $119k339k

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

Neighborhood: Rhodes Ranch

NeighborhoodNIR Market*CityMarket2010Year20002019 Q211001200130014001500160017001800Rent in $10551829

* 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 And Dee Snyder Elementary School Primary Unknown NA
Wilbur And Theresa Faiss Middle School Middle Regular 1,409 61 NA
Sierra Vista High School High Regular 2,396 88 4

Don And Dee Snyder Elementary School

  • Education Level: Primary
  • # of students:
  • # of teachers:
NA
GreatSchools Rating

Wilbur And Theresa Faiss Middle School

  • Education Level: Middle
  • # of students: 1,409
  • # of teachers: 61
NA
GreatSchools Rating

Sierra Vista High School

  • Education Level: High
  • # of students: 2,396
  • # of teachers: 88
4
GreatSchools Rating
 

$355,500$434,500$395,000

PURCHASE PRICE

$1,548$1,892$1,720

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,720
EXPENSES Loan Payment -$1,372
Property Tax -$248
Property Insurance -$62
Property Management Fees -$119
CASH FLOW
-$81

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.

$395,000

PROJECTED PRICE

$1,720

PROJECTED RENT

0.44%

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

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$110,425

INVESTMENT

$110,425

Down Payment
$98,750
Rehab Estimate
$5,750
Closing Costs
$5,925

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 50% down payment or higher enables the proceeds from the asset to cover all costs.

$1,372

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $98,750
Loan Amount $296,250
See What Happens When You Reinvest Cash Flow

4.58

YEARS SAVED

$18,854

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,720

    LIST RENT
  • $0.95

    LIST RENT PER SQFT
  • $1,719

    COMP ESTIMATED VALUE
  • $0.95

    COMP AVG. RENT PER SQFT
Comps Range
$1,695
1$1,6952$1,6953$1,6954$1,7205$1,795
$1,795
RENT COMPS ANALYSIS
  • 185 Water Hazard Lane Las Vegas, NV 4
    • 3 beds 3 baths ∙ 1,819 Sqft ∙ Built 2005 3 beds 3 baths ∙ 1,819 Sqft ∙ Built 2005
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,720
    • $0.95
    •  
  • 429 Center Green Drive Las Vegas, NV 1
    • 3 beds 3 baths ∙ 1,820 Sqft ∙ Built 2005 3 beds 3 baths ∙ 1,820 Sqft ∙ Built 2005
    property image
    LEASED 08/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $0.93
    •  
  • 503 Center Green Drive Las Vegas, NV 2
    • 3 beds 3 baths ∙ 1,820 Sqft ∙ Built 2005 3 beds 3 baths ∙ 1,820 Sqft ∙ Built 2005
    property image
    LEASED 10/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $0.93
    •  
  • 113 Water Hazard Lane Las Vegas, NV 3
    • 3 beds 3 baths ∙ 1,819 Sqft ∙ Built 2005 3 beds 3 baths ∙ 1,819 Sqft ∙ Built 2005
    property image
    LEASED 12/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $0.93
    •  
  • 158 Broken Putter Way Las Vegas, NV 5
    • 3 beds 3 baths ∙ 1,819 Sqft ∙ Built 2005 3 beds 3 baths ∙ 1,819 Sqft ∙ Built 2005
    property image
    LEASED 05/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,795
    • $0.99
    •  
PROPERTY LISTING DETAILS
Todtrese R Williams
1.702.434.6494
Williams-shelton & Associates
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2280387
Last Updated: 03/21/2021
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