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2705 Ironside Drive Las Vegas, NV 89108

3 Beds 3 Baths 1,763 sqft Built 1989

$300,000

List Price

$1,460

$1.3K - $1.6K

Rent Est.

PROPERTY INFO

December 04, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1989
  • Price/Sqft : $170.16
  • 4 Days on Market
  • MLS # : 2252299
  • Updated Date : 12/04/2020 at 09:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,763 sqft
  • Baths : 2 full , 1 half
Listing Agent

Southwest Real Estate Llc

Listing Agent's Description

SMOKE RANCH COMMUNITY- Renovated 3 Bedroom, 2.5 Bath 2 Story home w/ 2 Car Garage. Come view this corner house gem! Property features freshly painted exterior with new landscaping including synthetic grass. This was completed by the SNWA's Water Smart Landscapes program to help keep water bills efficient. Inside has been freshly painted from top to bottom w/ popcorn ceilings removed, new carpet, new blinds, new quartz counters installed throughout w/ new undermounted sinks, new brushed nickel fixtures from lights to faucets and door handles, and new stainless steel kitchen appliances. Primary Bedroom is on the 1st floor with w/ attached bath that has dual sinks, new framed vanity mirrors and a separate tub/shower. There is also a half bath on the first floor. 2nd floor has a loft and the 2 secondary bedrooms separated by a full bath.

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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
 

$270,000$330,000$300,000

PURCHASE PRICE

$1,314$1,606$1,460

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,460
EXPENSES Loan Payment -$1,107
Property Tax -$163
Property Insurance -$61
Property Management Fees -$119
CASH FLOW
$10

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.

$300,000

PROJECTED PRICE

$1,460

PROJECTED RENT

0.49%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.75%
Appreciation Year (1-5) 11.7%
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

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$85,250

INVESTMENT

$85,250

Down Payment
$75,000
Rehab Estimate
$5,750
Closing Costs
$4,500

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,107

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $75,000
Loan Amount $225,000
See What Happens When You Reinvest Cash Flow

5.67

YEARS SAVED

$22,399

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,460

    LIST RENT
  • $0.83

    LIST RENT PER SQFT
  • $1,468

    COMP ESTIMATED VALUE
  • $0.83

    COMP AVG. RENT PER SQFT
Comps Range
$1,250
1$1,2502$1,3953$1,4504$1,4605$1,550
$1,550
RENT COMPS ANALYSIS
  • 2705 Ironside Drive Las Vegas, NV 4
    • 3 beds 3 baths ∙ 1,763 Sqft ∙ Built 1989 3 beds 3 baths ∙ 1,763 Sqft ∙ Built 1989
    • Rent
    • Rent Per SQFT
    •  
    • $1,460
    • $0.83
    •  
  • 2764 Trotwood Lane #2764 Las Vegas, NV 1
    • 3 beds 3 baths ∙ 1,601 Sqft ∙ Built 1992 3 beds 3 baths ∙ 1,601 Sqft ∙ Built 1992
    LEASED 03/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,250
    • $0.78
    •  
  • 2700 Chokeberry Las Vegas, NV 2
    • 3 beds 2 baths ∙ 1,704 Sqft ∙ Built 1993 3 beds 2 baths ∙ 1,704 Sqft ∙ Built 1993
    LEASED 05/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,395
    • $0.82
    •  
  • 2629 Shakespeare Las Vegas, NV 3
    • 3 beds 2 baths ∙ 1,622 Sqft ∙ Built 1990 3 beds 2 baths ∙ 1,622 Sqft ∙ Built 1990
    LEASED 05/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $0.89
    •  
  • 2633 Island Brook Drive Las Vegas, NV 5
    • 3 beds 3 baths ∙ 1,836 Sqft ∙ Built 1990 3 beds 3 baths ∙ 1,836 Sqft ∙ Built 1990
    LEASED 05/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $0.84
    •  
PROPERTY LISTING DETAILS
Sandra J Garcia
1.702.400.7100
Southwest Real Estate Llc
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2252299
Last Updated: 12/04/2020
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