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2621 Ironside Drive Las Vegas, NV 89108

3 Beds 3 Baths 2,111 sqft Built 1988

INVESTimate

$319,900

List Price

$1,600

$1,440 - $1,760

Rent Est.

$357,456  ( +11.74%)   1 YR EST. FORECAST

PROPERTY INFO

August 19, 2020 RECENTLY ADDED
FACTS
  • Built In 1988
  • Price/Sqft : $151.54
  • 8 Days on Market
  • MLS # : 2222669
  • Updated Date : 08/21/2020 at 15:41
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,111 sqft
  • Baths : 2 full , 1 half
Listing Agent

Smg Realty

Listing Agent's Description

Located in the Smoke Ranch Community, this beautifully landscaped and well maintained home is move-in ready. Features include 3Bdrm/ 2.5 Baths, vaulted ceilings, and a Primary Bdrm/Bath & walk in closet that is located downstairs. The large kitchen features granite counters,, full-tile back splash, stainless steel appliances, a pantry, an island/with seating, & a large dining & nook area. Upstairs includes a loft, a large 2nd Bdrm w/separate sink area, a 3rd Bdrm and a Jack & Jill bath. Enjoy outside dining or entertaining in your private and beautifully designed backyard that includes a separate covered patio area. There is also a dog run that is located on the South side of the home. This community also offers you a Clubhouse, large pool facility, exercise and gym facility, a basketball court, and a tennis court. Owner owned Kinetico Water System and current alarm system will be conveyed with sale of property.

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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

Zip Code: 89108

ZipNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260k280kPrice in $83k296k

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

Zip Code: 89108

ZipNIR Market*CityMarket2010Year20002019 Q29501000105011001150120012501300135014001450150015501600Rent in $9121603

* 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
Berkley Bunker Elementary School Primary Regular 746 39 4
J. Harold Brinley Middle School Middle Regular 914 41 NA
Cimarron Memorial High School High Regular 2,541 102 3

Berkley Bunker Elementary School

  • Education Level: Primary
  • # of students: 746
  • # of teachers: 39
4
GreatSchools Rating

J. Harold Brinley Middle School

  • Education Level: Middle
  • # of students: 914
  • # of teachers: 41
NA
GreatSchools Rating

Cimarron Memorial High School

  • Education Level: High
  • # of students: 2,541
  • # of teachers: 102
3
GreatSchools Rating
 

$287,910$351,890$319,900

PURCHASE PRICE

$1,440$1,760$1,600

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$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

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,600
EXPENSES Loan Payment -$1,180
Property Tax -$199
Property Insurance -$68
HOA -$75
Property Management Fees -$119
CASH FLOW
-$41

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.

$319,900

PROJECTED PRICE

$1,600

PROJECTED RENT

0.50%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.75%
Appreciation Year (1-5) 11.74%
Maintenance Year (1-5) 8.00%
Vacancy 8.50%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$90,524

INVESTMENT

$90,524

Down Payment
$79,975
Rehab Estimate
$5,750
Closing Costs
$4,799

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 50% down payment or higher enables the proceeds from the asset to cover all costs.

$1,180

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $79,975
Loan Amount $239,925
See What Happens When You Reinvest Cash Flow

4.67

YEARS SAVED

$17,609

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,600

    LIST RENT
  • $0.76

    LIST RENT PER SQFT
  • $1,668

    COMP ESTIMATED VALUE
  • $0.79

    COMP AVG. RENT PER SQFT
Comps Range
$1,525
1$1,5252$1,5503$1,6004$1,6005$1,600
$1,600
RENT COMPS ANALYSIS
  • 2621 Ironside Drive Las Vegas, NV 5
    • 3 beds 3 baths ∙ 2,111 Sqft ∙ Built 1988 3 beds 3 baths ∙ 2,111 Sqft ∙ Built 1988
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $0.76
    •  
  • 6383 Blue Twilight Court Las Vegas, NV 1
    • 4 beds 3 baths ∙ 1,924 Sqft ∙ Built 2007 4 beds 3 baths ∙ 1,924 Sqft ∙ Built 2007
    property image
    LEASED 09/14/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,525
    • $0.79
    •  
  • 2633 Island Brook Drive Las Vegas, NV 2
    • 3 beds 3 baths ∙ 1,836 Sqft ∙ Built 1990 3 beds 3 baths ∙ 1,836 Sqft ∙ Built 1990
    property image
    LEASED 05/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $0.84
    •  
  • 2600 Shakespeare Road Las Vegas, NV 3
    • 4 beds 3 baths ∙ 2,220 Sqft ∙ Built 1989 4 beds 3 baths ∙ 2,220 Sqft ∙ Built 1989
    property image
    LEASED 03/26/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $0.72
    •  
  • 2633 Cathedral Lane Las Vegas, NV 4
    • 4 beds 3 baths ∙ 1,974 Sqft ∙ Built 1987 4 beds 3 baths ∙ 1,974 Sqft ∙ Built 1987
    property image
    LEASED 10/08/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $0.81
    •  
PROPERTY LISTING DETAILS
Robert B Tait
1.702.582.3090
Smg Realty
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2222669
Last Updated: 08/21/2020
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