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1851 Rockledge Drive Las Vegas, NV 89119

3 Beds 3 Baths 1,999 sqft Built 1978

$340,000

List Price

$1,680

$1.5K - $1.8K

Rent Est.

PROPERTY INFO

January 23, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1978
  • Price/Sqft : $170.09
  • 3 Days on Market
  • MLS # : 2263611
  • Updated Date : 01/23/2021 at 23:19
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,999 sqft
  • Baths : 2 full , 1 half
Listing Agent

Signature Real Estate Group

Listing Agent's Description

Beautiful Single Story home in a quiet neighborhood. Location Close to the Strip, UNLV, and Airport. Shopping centers are relatively close. house has a well executed floor plan. Very Spacious. Formal living room upon entering. Kitchen has a breakfast bar connected to the family room. Bedrooms are separate from the rest of the house. Big back yard, Has an RV parking space on the left hand side.

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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)

PRICE & RENT TRENDS

Neighborhood: Paradise

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280kPrice in $112k296k

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

Neighborhood: Paradise

NeighborhoodNIR Market*CityMarket2010Year20002019 Q211001150120012501300135014001450150015501600Rent in $10761606

* 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
Lewis E. Rowe Elementary School Primary Regular 657 39 6
William E. Orr Middle School Middle Regular 933 36 NA
Del Sol High School High Regular 2,051 73 2

Lewis E. Rowe Elementary School

  • Education Level: Primary
  • # of students: 657
  • # of teachers: 39
6
GreatSchools Rating

William E. Orr Middle School

  • Education Level: Middle
  • # of students: 933
  • # of teachers: 36
NA
GreatSchools Rating

Del Sol High School

  • Education Level: High
  • # of students: 2,051
  • # of teachers: 73
2
GreatSchools Rating
 

$306,000$374,000$340,000

PURCHASE PRICE

$1,512$1,848$1,680

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,680
EXPENSES Loan Payment -$1,181
Property Tax -$166
Property Insurance -$66
Property Management Fees -$119
CASH FLOW
$148

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.

$340,000

PROJECTED PRICE

$1,680

PROJECTED RENT

0.49%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.96%
Appreciation Year (1-5) 9.4%
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$95,850

INVESTMENT

$95,850

Down Payment
$85,000
Rehab Estimate
$5,750
Closing Costs
$5,100

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 40% down payment or higher enables the proceeds from the asset to cover all costs.

$1,181

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $85,000
Loan Amount $255,000
See What Happens When You Reinvest Cash Flow

8.25

YEARS SAVED

$36,800

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,680

    LIST RENT
  • $0.84

    LIST RENT PER SQFT
  • $1,754

    COMP ESTIMATED VALUE
  • $0.88

    COMP AVG. RENT PER SQFT
Comps Range
$1,550
1$1,5502$1,6803$1,6954$1,7255$1,850
$1,850
RENT COMPS ANALYSIS
  • 1851 Rockledge Drive Las Vegas, NV 2
    • 3 beds 3 baths ∙ 1,999 Sqft ∙ Built 1978 3 beds 3 baths ∙ 1,999 Sqft ∙ Built 1978
    • Rent
    • Rent Per SQFT
    •  
    • $1,680
    • $0.84
    •  
  • 4639 Kristen Lane Las Vegas, NV 1
    • 3 beds 2 baths ∙ 2,081 Sqft ∙ Built 1979 3 beds 2 baths ∙ 2,081 Sqft ∙ Built 1979
    LEASED 05/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $0.74
    •  
  • 4351 Flagship Court Las Vegas, NV 3
    • 3 beds 2 baths ∙ 1,932 Sqft ∙ Built 1997 3 beds 2 baths ∙ 1,932 Sqft ∙ Built 1997
    LEASED 09/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $0.88
    •  
  • 2033 Rockledge Drive Las Vegas, NV 4
    • 3 beds 2 baths ∙ 1,895 Sqft ∙ Built 1978 3 beds 2 baths ∙ 1,895 Sqft ∙ Built 1978
    LEASED 12/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,725
    • $0.91
    •  
  • 1861 Canterbury Drive Las Vegas, NV 5
    • 3 beds 1 baths ∙ 1,895 Sqft ∙ Built 1978 3 beds 1 baths ∙ 1,895 Sqft ∙ Built 1978
    LEASED 08/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $0.98
    •  
PROPERTY LISTING DETAILS
Blanca Lipson
1.702.400.6198
Signature Real Estate Group
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2263611
Last Updated: 01/23/2021
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