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

2209 Hot Oak Ridge Street Las Vegas, NV 89134

2 Beds 2 Baths 1,500 sqft Built 1999

$439,900

List Price

$1,670

$1.5K - $1.8K

Rent Est.

PROPERTY INFO

January 02, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1999
  • Price/Sqft : $293.27
  • 2 Days on Market
  • MLS # : 2258758
  • Updated Date : 01/02/2021 at 18:00
CONSTRUCTION
  • Beds : 2
  • Floor Size : 1,500 sqft
  • Baths : 2 full
Listing Agent

Keller Williams Market Place I

Listing Agent's Description

Amazing Renovated Home in Phase III, (newer area) with Open-Concept design, large entertainer's lot/ back yard. Cul-de-Sac. New Porcelain Flooring, new soft-close Cabinets throughout, Granite waterfall in kitchen. New Paint, new lighting and new stainless appliances. Get info on great community amenities in home.

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: 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
 

$395,910$483,890$439,900

PURCHASE PRICE

$1,503$1,837$1,670

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,670
EXPENSES Loan Payment -$1,623
Property Tax -$267
Property Insurance -$56
Property Management Fees -$119
CASH FLOW
-$395

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.

$439,900

PROJECTED PRICE

$1,670

PROJECTED RENT

0.38%

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

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$122,324

INVESTMENT

$122,324

Down Payment
$109,975
Rehab Estimate
$5,750
Closing Costs
$6,599

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 60% down payment or higher enables the proceeds from the asset to cover all costs.

$1,623

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $109,975
Loan Amount $329,925
See What Happens When You Reinvest Cash Flow

1.67

YEARS SAVED

$5,390

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,670

    LIST RENT
  • $1.11

    LIST RENT PER SQFT
  • $1,654

    COMP ESTIMATED VALUE
  • $1.1

    COMP AVG. RENT PER SQFT
Comps Range
$1,425
1$1,4252$1,5003$1,5504$1,6705$1,695
$1,695
RENT COMPS ANALYSIS
  • 2209 Hot Oak Ridge Street Las Vegas, NV 4
    • 2 beds 2 baths ∙ 1,500 Sqft ∙ Built 1999 2 beds 2 baths ∙ 1,500 Sqft ∙ Built 1999
    • Rent
    • Rent Per SQFT
    •  
    • $1,670
    • $1.11
    •  
  • 2029 Red Dawn Sky Street #0 Las Vegas, NV 1
    • 2 beds 1 baths ∙ 1,360 Sqft ∙ Built 1999 2 beds 1 baths ∙ 1,360 Sqft ∙ Built 1999
    LEASED 04/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,425
    • $1.05
    •  
  • 2205 Sun Cliffs Street Las Vegas, NV 2
    • 2 beds 1 baths ∙ 1,360 Sqft ∙ Built 1999 2 beds 1 baths ∙ 1,360 Sqft ∙ Built 1999
    LEASED 08/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $1.10
    •  
  • 10709 Cedar Creek Avenue Las Vegas, NV 3
    • 2 beds 1 baths ∙ 1,360 Sqft ∙ Built 1997 2 beds 1 baths ∙ 1,360 Sqft ∙ Built 1997
    LEASED 03/25/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $1.14
    •  
  • 10808 Dover Creek Avenue Las Vegas, NV 5
    • 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
    •  
PROPERTY LISTING DETAILS
Larry A Jones
1.702.533.7953
Keller Williams Market Place I
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2258758
Last Updated: 01/02/2021
BESbswy