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

2509 West Ellingson Drive Las Vegas, NV 89106

4 Beds 3 Baths 1,435 sqft Built 1993

$350,000

List Price

$1,450

$1.3K - $1.6K

Rent Est.

PROPERTY INFO

February 13, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1993
  • Price/Sqft : $243.90
  • 3 Days on Market
  • MLS # : 2269341
  • Updated Date : 02/13/2021 at 04:30
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,435 sqft
  • Baths : 2 full , 1 half
Listing Agent

Wardley Real Estate

Listing Agent's Description

Very beautiful and well maintained 4 bed/2 bath home available in north Las Vegas. Excellent location, close to schools, parks, freeways, shopping, and restaurants. Inside you will find a spacious open concept living/dining area, perfect for gathering friends and family. Low maintenance wood look and tile flooring in all of the right places. Inviting custom paint tones throughout. Modern kitchen boasts sleek granite counters and stylish backsplash. All bedrooms are upstairs for privacy. Owners suite includes a full ensuite with dual sinks. 2 car garage. Leased solar panels are $233/month and help save on utilities. Water conditioner will be paid off by seller. Owned security system. All appliances convey, including washer and dryer. Huge backyard with extended covered patio, a great spot for pets, play, entertaining and more. See it today.

SEE MORE

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: West Las Vegas

NeighborhoodNIR Market*CityMarket2010Year2000201980k100k120k140k160k180k200k220k240k260k280kPrice in $67k296k

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

Neighborhood: West Las Vegas

NeighborhoodNIR Market*CityMarket2010Year20002019 Q29009501000105011001150120012501300135014001450150015501600Rent in $8971603

* 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
Ollie Detwiler Elementary School Primary Regular 733 41 1
Western High School High Regular 2,534 112 2
Western High School High Unknown NA

Ollie Detwiler Elementary School

  • Education Level: Primary
  • # of students: 733
  • # of teachers: 41
1
GreatSchools Rating

Western High School

  • Education Level: High
  • # of students: 2,534
  • # of teachers: 112
2
GreatSchools Rating

Western High School

  • Education Level: High
  • # of students:
  • # of teachers:
NA
GreatSchools Rating
 

$315,000$385,000$350,000

PURCHASE PRICE

$1,305$1,595$1,450

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,450
EXPENSES Loan Payment -$1,216
Property Tax -$161
Property Insurance -$55
Property Management Fees -$119
CASH FLOW
-$100

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 17% of earned rent to cover both maintenance and periods of vacancy.

$350,000

PROJECTED PRICE

$1,450

PROJECTED RENT

0.41%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.75%
Appreciation Year (1-5) 12.1%
Maintenance Year (1-5) 8.00%
Vacancy 8.50%
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

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$98,500

INVESTMENT

$98,500

Down Payment
$87,500
Rehab Estimate
$5,750
Closing Costs
$5,250

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,216

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $87,500
Loan Amount $262,500
See What Happens When You Reinvest Cash Flow

4.25

YEARS SAVED

$13,372

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,450

    LIST RENT
  • $1.01

    LIST RENT PER SQFT
  • $1,403

    COMP ESTIMATED VALUE
  • $0.98

    COMP AVG. RENT PER SQFT
Comps Range
$1,200
1$1,2002$1,2003$1,3504$1,4505$1,450
$1,450
RENT COMPS ANALYSIS
  • 2509 West Ellingson Drive Las Vegas, NV 5
    • 4 beds 3 baths ∙ 1,435 Sqft ∙ Built 1993 4 beds 3 baths ∙ 1,435 Sqft ∙ Built 1993
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $1.01
    •  
  • 2301 Shady Hill Avenue Las Vegas, NV 1
    • 4 beds 2 baths ∙ 1,244 Sqft ∙ Built 1997 4 beds 2 baths ∙ 1,244 Sqft ∙ Built 1997
    LEASED 02/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,200
    • $0.96
    •  
  • 1735 Ferrell Street Las Vegas, NV 2
    • 3 beds 3 baths ∙ 1,250 Sqft ∙ Built 2008 3 beds 3 baths ∙ 1,250 Sqft ∙ Built 2008
    LEASED 08/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,200
    • $0.96
    •  
  • 1713 Sky Of Red Drive #203 Las Vegas, NV 3
    • 3 beds 2 baths ∙ 1,412 Sqft ∙ Built 1999 3 beds 2 baths ∙ 1,412 Sqft ∙ Built 1999
    LEASED 07/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,350
    • $0.96
    •  
  • 1708 Sky Of Red Drive #203 Las Vegas, NV 4
    • 3 beds 2 baths ∙ 1,412 Sqft ∙ Built 1999 3 beds 2 baths ∙ 1,412 Sqft ∙ Built 1999
    LEASED 08/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $1.03
    •  
PROPERTY LISTING DETAILS
Esthefany Zetina
1.702.793.7066
Wardley Real Estate
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2269341
Last Updated: 02/13/2021
BESbswy