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2728 Ferrin Road #n/a # n/a Las Vegas, NV 89117

3 Beds 3 Baths 1,485 sqft Built 1989

INVESTimate

$265,000

List Price

$1,510

$1,359 - $1,661

Rent Est.

$291,606  ( +10.04%)   1 YR EST. FORECAST

PROPERTY INFO

FACTS
  • Built In 1989
  • Price/Sqft : $178.45
  • 17 Days on Market
  • MLS # : 2220220
  • Updated Date : 08/24/2020 at 17:25
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,485 sqft
  • Baths : 2 full , 1 half
Listing Agent

Realty One Group Inc

Listing Agent's Description

***2 STORY TOWN HOME WITH AN ATTACHED 2 CAR GARAGE IN MOST DESIRABLE LAKES AREA*** Master Bed/Bath Downstairs. Open floor plan with high ceilings and wood burning fireplace for those cozy winter nights. Beautiful community with plenty of greenery and walkways which is also steps away from the heart of the Lakes Area. Plenty of places to walk the dog or ride your bike around The Lakes and the community has a beautiful pool to dip into afterwards. Did I mention amazing shops and restaurants are minutes away!!

SEE MORE

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: West Sahara

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300kPrice in $119k308k

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

Neighborhood: West Sahara

NeighborhoodNIR Market*CityMarket2010Year20002019 Q211001150120012501300135014001450150015501600Rent in $10621618

* 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
M.j. Christensen Elementary School Primary Regular 615 34 6
Lawrence Junior High School Middle Regular 1,421 61 NA
Spring Valley High School High Regular 1,925 79 4

M.j. Christensen Elementary School

  • Education Level: Primary
  • # of students: 615
  • # of teachers: 34
6
GreatSchools Rating

Lawrence Junior High School

  • Education Level: Middle
  • # of students: 1,421
  • # of teachers: 61
NA
GreatSchools Rating

Spring Valley High School

  • Education Level: High
  • # of students: 1,925
  • # of teachers: 79
4
GreatSchools Rating
 

$238,500$291,500$265,000

PURCHASE PRICE

$1,359$1,661$1,510

RENT

DOWN PAYMENT
FINANCING

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$14k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,510
EXPENSES Loan Payment -$978
Property Tax -$158
Property Insurance -$56
HOA -$210
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 16% of earned rent to cover both maintenance and periods of vacancy.

$265,000

PROJECTED PRICE

$1,510

PROJECTED RENT

0.57%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.96%
Appreciation Year (1-5) 10.04%
Maintenance Year (1-5) 8.00%
Vacancy 7.63%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$75,975

INVESTMENT

$75,975

Down Payment
$66,250
Rehab Estimate
$5,750
Closing Costs
$3,975

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$978

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $66,250
Loan Amount $198,750
See What Happens When You Reinvest Cash Flow

5.33

YEARS SAVED

$17,356

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,510

    LIST RENT
  • $1.02

    LIST RENT PER SQFT
  • $1,504

    COMP ESTIMATED VALUE
  • $1.01

    COMP AVG. RENT PER SQFT
Comps Range
$1,400
1$1,4002$1,4503$1,5004$1,5105$1,595
$1,595
RENT COMPS ANALYSIS
  • 2728 Ferrin Road #n/a Las Vegas, NV 4
    • 3 beds 3 baths ∙ 1,485 Sqft ∙ Built 1989 3 beds 3 baths ∙ 1,485 Sqft ∙ Built 1989
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,510
    • $1.02
    •  
  • 9417 Crown Vista Lane Las Vegas, NV 1
    • 3 beds 2 baths ∙ 1,398 Sqft ∙ Built 1988 3 beds 2 baths ∙ 1,398 Sqft ∙ Built 1988
    property image
    LEASED 12/21/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,400
    • $1.00
    •  
  • 3137 Clamdigger Lane Las Vegas, NV 2
    • 3 beds 2 baths ∙ 1,450 Sqft ∙ Built 1987 3 beds 2 baths ∙ 1,450 Sqft ∙ Built 1987
    property image
    LEASED 03/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $1.00
    •  
  • 3153 Mediterranean Drive Las Vegas, NV 3
    • 3 beds 3 baths ∙ 1,536 Sqft ∙ Built 1985 3 beds 3 baths ∙ 1,536 Sqft ∙ Built 1985
    property image
    LEASED 11/11/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $0.98
    •  
  • 2769 Ferrin Road Las Vegas, NV 5
    • 3 beds 3 baths ∙ 1,485 Sqft ∙ Built 1989 3 beds 3 baths ∙ 1,485 Sqft ∙ Built 1989
    property image
    LEASED 11/08/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $1.07
    •  
PROPERTY LISTING DETAILS
Susanne Zedlitz
1.702.439.4833
Realty One Group Inc
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2220220
Last Updated: 08/24/2020
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