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1985 Ardilea Street Las Vegas, NV 89135

3 Beds 3 Baths 1,780 sqft Built 2009

INVESTimate

$349,000

List Price

$1,720

$1,548 - $1,892

Rent Est.

$376,850  ( +7.98%)   1 YR EST. FORECAST

PROPERTY INFO

August 21, 2020 RECENTLY ADDED
FACTS
  • Built In 2009
  • Price/Sqft : $196.07
  • 7 Days on Market
  • MLS # : 2223758
  • Updated Date : 08/21/2020 at 09:31
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,780 sqft
  • Baths : 2 full , 1 half
Listing Agent

Coldwell Banker Premier

Listing Agent's Description

In the heart of the beautiful Master Plan of Summerlin! A community with pool, spa, park, playground, WOW! You'll be so close to shopping, restaurants, sports, & more! A Ryland home with 3 bedrooms, 3-1/2 baths, 2-car garage. Granite counter tops in the kitchen with stainless steel appliances, pantry, spacious! Tile, laminate, carpet flooring. Owner's suite is upstairs with a 3/4 bath, double sinks. Wired for COX Homelife. SID paid off. WELCOME HOME!

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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: 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
 

$314,100$383,900$349,000

PURCHASE PRICE

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

RENT

DOWN PAYMENT
FINANCING

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$200k$400k$600k$800k$1.0M$1.2M

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

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,720
EXPENSES Loan Payment -$1,288
Property Tax -$230
Property Insurance -$62
HOA -$180
Property Management Fees -$119
CASH FLOW
-$158

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.

$349,000

PROJECTED PRICE

$1,720

PROJECTED RENT

0.49%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.05%
Appreciation Year (1-5) 7.98%
Maintenance Year (1-5) 8.00%
Vacancy 7.57%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$98,235

INVESTMENT

$98,235

Down Payment
$87,250
Rehab Estimate
$5,750
Closing Costs
$5,235

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,288

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $87,250
Loan Amount $261,750
See What Happens When You Reinvest Cash Flow

3.5

YEARS SAVED

$12,319

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
  • $0.97

    LIST RENT PER SQFT
  • $1,740

    COMP ESTIMATED VALUE
  • $0.98

    COMP AVG. RENT PER SQFT
Comps Range
$1,575
1$1,5752$1,7203$1,8004$1,8005$1,850
$1,850
RENT COMPS ANALYSIS
  • 1985 Ardilea Street Las Vegas, NV 2
    • 3 beds 3 baths ∙ 1,780 Sqft ∙ Built 2009 3 beds 3 baths ∙ 1,780 Sqft ∙ Built 2009
    • Rent
    • Rent Per SQFT
    •  
    • $1,720
    • $0.97
    •  
  • 2015 Granemore Street #na Las Vegas, NV 1
    • 3 beds 3 baths ∙ 1,779 Sqft ∙ Built 2009 3 beds 3 baths ∙ 1,779 Sqft ∙ Built 2009
    LEASED 04/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,575
    • $0.89
    •  
  • 1843 Ardilea Street Las Vegas, NV 3
    • 3 beds 4 baths ∙ 1,791 Sqft ∙ Built 2006 3 beds 4 baths ∙ 1,791 Sqft ∙ Built 2006
    LEASED 10/17/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $1.01
    •  
  • 2025 Ardilea Street Las Vegas, NV 4
    • 3 beds 4 baths ∙ 1,846 Sqft ∙ Built 2009 3 beds 4 baths ∙ 1,846 Sqft ∙ Built 2009
    LEASED 07/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $0.98
    •  
  • 1951 Granemore Las Vegas, NV 5
    • 3 beds 3 baths ∙ 1,791 Sqft ∙ Built 2007 3 beds 3 baths ∙ 1,791 Sqft ∙ Built 2007
    LEASED 07/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $1.03
    •  
PROPERTY LISTING DETAILS
Jodi Tyra
1.702.528.4483
Coldwell Banker Premier
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2223758
Last Updated: 08/21/2020
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