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1901 Hot Oak Ridge Street Las Vegas, NV 89134

2 Beds 2 Baths 1,646 sqft Built 1998

$409,900

List Price

$1,720

$1.5K - $1.9K

Rent Est.

PROPERTY INFO

February 12, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1998
  • Price/Sqft : $249.03
  • 3 Days on Market
  • MLS # : 2269445
  • Updated Date : 02/13/2021 at 22:48
CONSTRUCTION
  • Beds : 2
  • Floor Size : 1,646 sqft
  • Baths : 2 full
Listing Agent

Signature Real Estate Group

Listing Agent's Description

Beautiful home in Sun City Summerlin. This Single Story 2 bedroom home has so many wonderful new features, New Porcelain Tile flooring, fresh paint throughout home as well as recently painted exterior, new blinds, custom storage cabinets, fantastic oversized Den/Office just off the primary bedroom and includes Strip Views! Premium ceiling fans throughout. All upgraded Stainless Kitchen Appliances are included, along with newer water softener. Over-sized 11,326 sq ft Lot with large patio w/adjustable slatted patio roof. Sun City Summerlin is a 55+ age-restricted community with a vast array of amenities; 3 Golf courses, Clubhouses, 4 Fitness Centers, Olympic-sized Swimming Pools, extensive green belts, Library, Starbright Theatre and so much more.

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: Sun City Summerlin

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320kPrice in $119k328k

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

Neighborhood: Sun City Summerlin

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21100115012001250130013501400145015001550160016501700Rent in $10671706

* 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
Ethel W. Staton Elementary School Primary Regular 880 45 9
Sig Rogich Middle School Middle Regular 1,845 70 NA
Palo Verde High School High Regular 3,024 114 9

Ethel W. Staton Elementary School

  • Education Level: Primary
  • # of students: 880
  • # of teachers: 45
9
GreatSchools Rating

Sig Rogich Middle School

  • Education Level: Middle
  • # of students: 1,845
  • # of teachers: 70
NA
GreatSchools Rating

Palo Verde High School

  • Education Level: High
  • # of students: 3,024
  • # of teachers: 114
9
GreatSchools Rating
 

$368,910$450,890$409,900

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 -$1,424
Property Tax -$275
Property Insurance -$59
Property Management Fees -$119
CASH FLOW
-$156

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.

$409,900

PROJECTED PRICE

$1,720

PROJECTED RENT

0.42%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.96%
Appreciation Year (1-5) 9.1%
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$1.4M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$114,374

INVESTMENT

$114,374

Down Payment
$102,475
Rehab Estimate
$5,750
Closing Costs
$6,149

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,424

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $102,475
Loan Amount $307,425
See What Happens When You Reinvest Cash Flow

3.67

YEARS SAVED

$14,127

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
  • $1.04

    LIST RENT PER SQFT
  • $1,716

    COMP ESTIMATED VALUE
  • $1.04

    COMP AVG. RENT PER SQFT
Comps Range
$1,500
1$1,5002$1,6953$1,7004$1,7205$1,800
$1,800
RENT COMPS ANALYSIS
  • 1901 Hot Oak Ridge Street Las Vegas, NV 4
    • 2 beds 2 baths ∙ 1,646 Sqft ∙ Built 1998 2 beds 2 baths ∙ 1,646 Sqft ∙ Built 1998
    • Rent
    • Rent Per SQFT
    •  
    • $1,720
    • $1.04
    •  
  • 2361 Lauren Drive Las Vegas, NV 1
    • 2 beds 1 baths ∙ 1,520 Sqft ∙ Built 1999 2 beds 1 baths ∙ 1,520 Sqft ∙ Built 1999
    LEASED 03/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $0.99
    •  
  • 10808 Dover Creek Avenue Las Vegas, NV 2
    • 2 beds 3 baths ∙ 1,520 Sqft ∙ Built 1999 2 beds 3 baths ∙ 1,520 Sqft ∙ Built 1999
    LEASED 12/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $1.12
    •  
  • 10603 Mission Lakes Avenue Las Vegas, NV 3
    • 2 beds 2 baths ∙ 1,650 Sqft ∙ Built 1997 2 beds 2 baths ∙ 1,650 Sqft ∙ Built 1997
    LEASED 02/03/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $1.03
    •  
  • 10617 Umbrella Tree Court Las Vegas, NV 5
    • 2 beds 2 baths ∙ 1,751 Sqft ∙ Built 1999 2 beds 2 baths ∙ 1,751 Sqft ∙ Built 1999
    LEASED 10/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $1.03
    •  
PROPERTY LISTING DETAILS
Russ Liggett
1.702.826.0005
Signature Real Estate Group
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2269445
Last Updated: 02/13/2021
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