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2289 Crooked Creek Avenue Las Vegas, NV 89123

3 Beds 3 Baths 1,617 sqft Built 2002

$308,000

List Price

$1,400

$1.3K - $1.5K

Rent Est.

PROPERTY INFO

November 01, 2020 RECENTLY ADDED
FACTS
  • Built In 2002
  • Price/Sqft : $190.48
  • 4 Days on Market
  • MLS # : 2243907
  • Updated Date : 11/01/2020 at 19:53
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,617 sqft
  • Baths : 2 full , 1 half
Listing Agent

Elite Realty

Listing Agent's Description

Pristine Move-in Ready Home in a Gated Community * Fully Tiled First Floor * Soaring Ceilings in Living Room, Dining Room * Cozy Gas Fireplace * Upgraded Stuccoed Rear Patio Cover * Kitchen Features Top of the Line Black SS Appliances and Large Nook Area * 3 Bedrooms Upstairs * PLUS Bonus Room * Just Add a Closet to Turn it into 4th Bedroom * Community Features Pool and Spa * Close to Freeway, Strip, Shopping, and Airport *

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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: Paradise

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280kPrice in $112k296k

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

Neighborhood: Paradise

NeighborhoodNIR Market*CityMarket2010Year20002019 Q211001150120012501300135014001450150015501600Rent in $10761606

* 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
Louis Wiener Jr Elementary School Primary Regular 701 39 7
Jack L. Schofield Middle School Middle Regular 1,332 51 NA
Silverado High School High Regular 2,263 94 5

Louis Wiener Jr Elementary School

  • Education Level: Primary
  • # of students: 701
  • # of teachers: 39
7
GreatSchools Rating

Jack L. Schofield Middle School

  • Education Level: Middle
  • # of students: 1,332
  • # of teachers: 51
NA
GreatSchools Rating

Silverado High School

  • Education Level: High
  • # of students: 2,263
  • # of teachers: 94
5
GreatSchools Rating
 

$277,200$338,800$308,000

PURCHASE PRICE

$1,260$1,540$1,400

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,400
EXPENSES Loan Payment -$1,136
Property Tax -$192
Property Insurance -$59
Property Management Fees -$119
CASH FLOW
-$106

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.

$308,000

PROJECTED PRICE

$1,400

PROJECTED RENT

0.45%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.96%
Appreciation Year (1-5) 9.4%
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

PROJECTED ANNUAL CASH FLOW

11530-$4.0k-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$87,370

INVESTMENT

$87,370

Down Payment
$77,000
Rehab Estimate
$5,750
Closing Costs
$4,620

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,136

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $77,000
Loan Amount $231,000
See What Happens When You Reinvest Cash Flow

4.33

YEARS SAVED

$14,907

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,400

    LIST RENT
  • $0.87

    LIST RENT PER SQFT
  • $1,496

    COMP ESTIMATED VALUE
  • $0.92

    COMP AVG. RENT PER SQFT
Comps Range
$1,400
1$1,4002$1,4003$1,5004$1,5955$1,600
$1,600
RENT COMPS ANALYSIS
  • 2289 Crooked Creek Avenue Las Vegas, NV 2
    • 3 beds 3 baths ∙ 1,617 Sqft ∙ Built 2002 3 beds 3 baths ∙ 1,617 Sqft ∙ Built 2002
    • Rent
    • Rent Per SQFT
    •  
    • $1,400
    • $0.87
    •  
  • 2317 Buffalo Run Avenue Las Vegas, NV 1
    • 3 beds 3 baths ∙ 1,617 Sqft ∙ Built 2001 3 beds 3 baths ∙ 1,617 Sqft ∙ Built 2001
    LEASED 11/29/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,400
    • $0.87
    •  
  • 2365 Radiant Beam Avenue Las Vegas, NV 3
    • 3 beds 1 baths ∙ 1,602 Sqft ∙ Built 2003 3 beds 1 baths ∙ 1,602 Sqft ∙ Built 2003
    LEASED 07/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $0.94
    •  
  • 2204 Buffalo Run Avenue Las Vegas, NV 4
    • 3 beds 2 baths ∙ 1,786 Sqft ∙ Built 2000 3 beds 2 baths ∙ 1,786 Sqft ∙ Built 2000
    LEASED 08/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $0.89
    •  
  • 7675 Borealis Street Las Vegas, NV 5
    • 3 beds 2 baths ∙ 1,602 Sqft ∙ Built 2003 3 beds 2 baths ∙ 1,602 Sqft ∙ Built 2003
    LEASED 07/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $1.00
    •  
PROPERTY LISTING DETAILS
Jennifer A Oerding
1.702.376.6126
Elite Realty
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2243907
Last Updated: 11/01/2020
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