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2200 Fort Apache Road #1251 # 1251 Las Vegas, NV 89117

2 Beds 2 Baths 1,053 sqft Built 1991

INVESTimate

$165,000

List Price

$1,040

$936 - $1,144

Rent Est.

$171,089  ( +3.69%)   1 YR EST. FORECAST

PROPERTY INFO

August 20, 2020 RECENTLY ADDED
FACTS
  • Built In 1991
  • Price/Sqft : $156.70
  • 8 Days on Market
  • MLS # : 2223440
  • Updated Date : 08/20/2020 at 21:16
CONSTRUCTION
  • Beds : 2
  • Floor Size : 1,053 sqft
  • Baths : 2 full
Listing Agent

Simply Vegas

Listing Agent's Description

Excellent 2 bedroom 2 bath unit on first floor in sought after location across from the Clubhouse. This Guard Gated Community has Amenities Galore; Rooving Security, 3 Pools, Indoor & Outdoor Spa, Fitness Center, Racket Ball, Tennis Courts, Putting Greens, Volleyball, & Basketball Courts. Property features Granite Countertops, Ceiling Fans, Fireplace in Family Room, Covered Patio, Tile & Carpet Throughout, & Two Tone Paint. The Bedrooms are separate from each other with their own bathroom & walk in closets. Master Bathroom features Massive Garden Tub. Come See before it's Gone!

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: Canyon Gate Master

NeighborhoodNIR Market*CityMarket2010Year2000201980k100k120k140k160k180k200k220k240k260k280k300k320k340k360kPrice in $69k362k

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

Neighborhood: Canyon Gate Master

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21200140016001800200022002400260028003000320034003600Rent in $10763795

* 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
D'voree And Hall Ober Elementary School Primary Regular 669 39 8
Walter Johnson Junior High School Middle Regular 1,102 50 NA
Bonanza High School High Regular 2,003 83 3

D'voree And Hall Ober Elementary School

  • Education Level: Primary
  • # of students: 669
  • # of teachers: 39
8
GreatSchools Rating

Walter Johnson Junior High School

  • Education Level: Middle
  • # of students: 1,102
  • # of teachers: 50
NA
GreatSchools Rating

Bonanza High School

  • Education Level: High
  • # of students: 2,003
  • # of teachers: 83
3
GreatSchools Rating
 

$148,500$181,500$165,000

PURCHASE PRICE

$936$1,144$1,040

RENT

DOWN PAYMENT
FINANCING

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$50k$100k$150k$200k$250k$300k$350k$400k$450k

PROJECTED ANNUAL CASH FLOW

11530-$4.0k-$2.0k$0.0$2.0k$4.0k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$50k$100k$150k$200k$250k$300k$350k$400k$450k

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,040
EXPENSES Loan Payment -$609
Property Tax -$115
Property Insurance -$48
HOA -$311
Property Management Fees -$119
CASH FLOW
-$161

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.

$165,000

PROJECTED PRICE

$1,040

PROJECTED RENT

0.63%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.05%
Appreciation Year (1-5) 3.69%
Maintenance Year (1-5) 8.00%
Vacancy 7.57%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$49,475

INVESTMENT

$49,475

Down Payment
$41,250
Rehab Estimate
$5,750
Closing Costs
$2,475

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 75% down payment or higher enables the proceeds from the asset to cover all costs.

$609

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $41,250
Loan Amount $123,750
See What Happens When You Reinvest Cash Flow

1

YEARS SAVED

$786

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,040

    LIST RENT
  • $0.99

    LIST RENT PER SQFT
  • $1,061

    COMP ESTIMATED VALUE
  • $1.01

    COMP AVG. RENT PER SQFT
Comps Range
$1,040
1$1,0402$1,0503$1,1004$1,1505$1,245
$1,245
RENT COMPS ANALYSIS
  • 2200 Fort Apache Road #1251 Las Vegas, NV 1
    • 2 beds 2 baths ∙ 1,053 Sqft ∙ Built 1991 2 beds 2 baths ∙ 1,053 Sqft ∙ Built 1991
    • Rent
    • Rent Per SQFT
    •  
    • $1,040
    • $0.99
    •  
  • 8808 River Pines Court #102 Las Vegas, NV 2
    • 2 beds 2 baths ∙ 1,136 Sqft ∙ Built 1987 2 beds 2 baths ∙ 1,136 Sqft ∙ Built 1987
    LEASED 02/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,050
    • $0.92
    •  
  • 2700 Otter Creek Court #101 Las Vegas, NV 3
    • 2 beds 2 baths ∙ 1,136 Sqft ∙ Built 1988 2 beds 2 baths ∙ 1,136 Sqft ∙ Built 1988
    LEASED 12/23/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,100
    • $0.97
    •  
  • 2200 South Fort Apache Road #2132 Las Vegas, NV 4
    • 2 beds 1 baths ∙ 1,053 Sqft ∙ Built 1991 2 beds 1 baths ∙ 1,053 Sqft ∙ Built 1991
    LEASED 08/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,150
    • $1.09
    •  
  • 2713 Ferrin Road Las Vegas, NV 5
    • 2 beds 2 baths ∙ 1,186 Sqft ∙ Built 1989 2 beds 2 baths ∙ 1,186 Sqft ∙ Built 1989
    LEASED 11/08/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,245
    • $1.05
    •  
PROPERTY LISTING DETAILS
Amy M Lubitz
1.702.769.6621
Simply Vegas
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2223440
Last Updated: 08/20/2020
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