Work with a dedicated Real Estate Advisor who will take your financial preferences and help you select and acquire properties that fit your criteria. Learn more

1957 Ardilea Street Las Vegas, NV 89135

3 Beds 2 Baths 2,083 sqft Built 2009

$395,000

List Price

$1,850

$1.7K - $2K

Rent Est.

PROPERTY INFO

December 12, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2009
  • Price/Sqft : $189.63
  • 2 Days on Market
  • MLS # : 2255283
  • Updated Date : 12/12/2020 at 04:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,083 sqft
  • Baths : 2 full
Listing Agent

Prominent Realty Group Llc

Listing Agent's Description

Charming house looks and feels brand new! Huge Master & Jack n Jill upstairs, Den and full bath downstairs, cabinet in washer area, stainless steel appliances, granite countertops! Resort Living Community, parks with pool, tennis/basket courts, soccer field, Biking/running trails, and walking distance to Downtown Summerlin! Prime location near Red Rock Casino and Las Vegas Knights Training Facility.

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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)

PRICE & RENT TRENDS

Neighborhood: Summerlin Centre

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320k340k360kPrice in $119k380k

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

Neighborhood: Summerlin Centre

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21100120013001400150016001700180019002000Rent in $10762040

* 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
Judy And John Goolsby Elementary School Primary Regular 807 42 10
Sig Rogich Middle School Middle Regular 1,845 70 NA
Palo Verde High School High Regular 3,024 114 9

Judy And John Goolsby Elementary School

  • Education Level: Primary
  • # of students: 807
  • # of teachers: 42
10
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
 

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

PURCHASE PRICE

$1,665$2,035$1,850

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,850
EXPENSES Loan Payment -$1,457
Property Tax -$250
Property Insurance -$68
Property Management Fees -$119
CASH FLOW
-$44

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

$1,850

PROJECTED RENT

0.47%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.05%
Appreciation Year (1-5) 8.0%
Maintenance Year (1-5) 8.00%
Vacancy 7.57%
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$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.

$1,457

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $98,750
Loan Amount $296,250
See What Happens When You Reinvest Cash Flow

5.5

YEARS SAVED

$27,667

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,850

    LIST RENT
  • $0.89

    LIST RENT PER SQFT
  • $1,890

    COMP ESTIMATED VALUE
  • $0.91

    COMP AVG. RENT PER SQFT
Comps Range
$1,795
1$1,7952$1,8453$1,8504$1,8505$1,950
$1,950
RENT COMPS ANALYSIS
  • 1957 Ardilea Street Las Vegas, NV 4
    • 3 beds 2 baths ∙ 2,083 Sqft ∙ Built 2009 3 beds 2 baths ∙ 2,083 Sqft ∙ Built 2009
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $0.89
    •  
  • 2303 Aragon Canyon Street Las Vegas, NV 1
    • 3 beds 3 baths ∙ 1,962 Sqft ∙ Built 2005 3 beds 3 baths ∙ 1,962 Sqft ∙ Built 2005
    LEASED 06/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,795
    • $0.91
    •  
  • 1856 Hollywell Street #- Las Vegas, NV 2
    • 3 beds 2 baths ∙ 2,083 Sqft ∙ Built 2006 3 beds 2 baths ∙ 2,083 Sqft ∙ Built 2006
    LEASED 03/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,845
    • $0.89
    •  
  • 11339 Colinward Avenue Las Vegas, NV 3
    • 4 beds 4 baths ∙ 2,087 Sqft ∙ Built 2007 4 beds 4 baths ∙ 2,087 Sqft ∙ Built 2007
    LEASED 03/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $0.89
    •  
  • 1883 Granemore Street #0 Las Vegas, NV 5
    • 4 beds 2 baths ∙ 2,083 Sqft ∙ Built 2006 4 beds 2 baths ∙ 2,083 Sqft ∙ Built 2006
    LEASED 06/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $0.94
    •  
PROPERTY LISTING DETAILS
Tracy Liu
1.702.981.2718
Prominent Realty Group Llc
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2255283
Last Updated: 12/12/2020
BESbswy