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2709 Cheshire Court Las Vegas, NV 89108

3 Beds 2 Baths 1,137 sqft Built 1988

$270,000

List Price

$1,180

$1.1K - $1.3K

Rent Est.

PROPERTY INFO

February 12, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1988
  • Price/Sqft : $237.47
  • 3 Days on Market
  • MLS # : 2269876
  • Updated Date : 02/13/2021 at 00:30
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,137 sqft
  • Baths : 2 full
Listing Agent

Blue Diamond Realty Llc

Listing Agent's Description

HOLY HANNAH! THIS SINGLE STORY CHARMER ON THE QUIET CUL DE SAC WON'T LAST LONG. WELL MAINTAINED ON NICE BIG LOT WITH LARGE BACK YARD. RECENTLY RENOVATED PRIMARY BATHROOM WITH MASSIVE WALK IN SHOWER. YOU'RE GOING TO LOVE IT!

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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

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
 

$243,000$297,000$270,000

PURCHASE PRICE

$1,062$1,298$1,180

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,180
EXPENSES Loan Payment -$938
Property Tax -$136
Property Insurance -$49
Property Management Fees -$119
CASH FLOW
-$62

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.

$270,000

PROJECTED PRICE

$1,180

PROJECTED RENT

0.44%

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

PROJECTED ANNUAL CASH FLOW

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

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$77,300

INVESTMENT

$77,300

Down Payment
$67,500
Rehab Estimate
$5,750
Closing Costs
$4,050

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$938

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $67,500
Loan Amount $202,500
See What Happens When You Reinvest Cash Flow

4.5

YEARS SAVED

$11,348

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,180

    LIST RENT
  • $1.04

    LIST RENT PER SQFT
  • $1,038

    COMP ESTIMATED VALUE
  • $0.91

    COMP AVG. RENT PER SQFT
Comps Range
$1,050
1$1,0502$1,1003$1,1804$1,195
$1,195
RENT COMPS ANALYSIS
  • 2709 Cheshire Court Las Vegas, NV 3
    • 3 beds 2 baths ∙ 1,137 Sqft ∙ Built 1988 3 beds 2 baths ∙ 1,137 Sqft ∙ Built 1988
    • Rent
    • Rent Per SQFT
    •  
    • $1,180
    • $1.04
    •  
  • 2700 North Rainbow Boulevard #1016 Las Vegas, NV 1
    • 3 beds 2 baths ∙ 1,172 Sqft ∙ Built 1989 3 beds 2 baths ∙ 1,172 Sqft ∙ Built 1989
    LEASED 08/28/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,050
    • $0.90
    •  
  • 2801 Rainbow #215 Las Vegas, NV 2
    • 3 beds 2 baths ∙ 1,180 Sqft ∙ Built 1990 3 beds 2 baths ∙ 1,180 Sqft ∙ Built 1990
    LEASED 01/28/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,100
    • $0.93
    •  
  • 6588 Woodsworth Avenue Las Vegas, NV 4
    • 3 beds 1 baths ∙ 1,315 Sqft ∙ Built 1997 3 beds 1 baths ∙ 1,315 Sqft ∙ Built 1997
    LEASED 04/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,195
    • $0.91
    •  
PROPERTY LISTING DETAILS
Eric M Halberg
1.702.789.4822
Blue Diamond Realty Llc
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2269876
Last Updated: 02/13/2021
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