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2729 Ironside Drive Las Vegas, NV 89108

2 Beds 1 Baths 1,096 sqft Built 1988

INVESTimate

$264,900

List Price

$1,090

$981 - $1,199

Rent Est.

$295,999  ( +11.74%)   1 YR EST. FORECAST

PROPERTY INFO

August 22, 2020 RECENTLY ADDED
FACTS
  • Built In 1988
  • Price/Sqft : $241.70
  • 6 Days on Market
  • MLS # : 2223815
  • Updated Date : 08/22/2020 at 19:27
CONSTRUCTION
  • Beds : 2
  • Floor Size : 1,096 sqft
  • Baths : 1 full
Listing Agent

Aspire Realty Goup

Listing Agent's Description

The incredible life you deserve is waiting at this beautiful home in Las Vegas. An immaculate 2 bedroom, 2 bath with design choices inspired by the rugged beauty of the Mojave Desert. With plenty of living space, this home is perfect for anyone looking for a turnkey property. As soon as you step inside you are greeted in the vast Great Room concept living area consisting of the kitchen and living room. Ceramic wood-appearance flooring is used extensively throughout. Your updated kitchen boasts quality stainless appliances, granite counters with tile backsplash, and soft-close cabinetry. The living room offers all the space you need to entertain and a fireplace that gives ambiance on demand. Your master suite is complete with a walk-in closet and a wonderful private bath that includes a large tiled shower.Don't need (2) bedrooms? One could be easily converted to a private office.Some photos have been virtually staged

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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
 

$238,410$291,390$264,900

PURCHASE PRICE

$981$1,199$1,090

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-$6.0k-$4.0k-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,090
EXPENSES Loan Payment -$977
Property Tax -$130
Property Insurance -$48
HOA -$75
Property Management Fees -$119
CASH FLOW
-$260

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.

$264,900

PROJECTED PRICE

$1,090

PROJECTED RENT

0.41%

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$75,949

INVESTMENT

$75,949

Down Payment
$66,225
Rehab Estimate
$5,750
Closing Costs
$3,974

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 65% down payment or higher enables the proceeds from the asset to cover all costs.

$977

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $66,225
Loan Amount $198,675
See What Happens When You Reinvest Cash Flow

1.25

YEARS SAVED

$1,931

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,090

    LIST RENT
  • $0.99

    LIST RENT PER SQFT
  • $937

    COMP ESTIMATED VALUE
  • $0.86

    COMP AVG. RENT PER SQFT
Comps Range
$900
1$9002$9003$9754$1,0005$1,090
$1,090
RENT COMPS ANALYSIS
  • 2729 Ironside Drive Las Vegas, NV 5
    • 2 beds 1 baths ∙ 1,096 Sqft ∙ Built 1988 2 beds 1 baths ∙ 1,096 Sqft ∙ Built 1988
    • Rent
    • Rent Per SQFT
    •  
    • $1,090
    • $0.99
    •  
  • 6500 Lake Mead Boulevard #110 Las Vegas, NV 1
    • 2 beds 2 baths ∙ 1,064 Sqft ∙ Built 1992 2 beds 2 baths ∙ 1,064 Sqft ∙ Built 1992
    LEASED 10/10/19
    • Rent
    • Rent Per SQFT
    •  
    • $900
    • $0.85
    •  
  • 2451 Rainbow #2088 Las Vegas, NV 2
    • 2 beds 2 baths ∙ 1,128 Sqft ∙ Built 1988 2 beds 2 baths ∙ 1,128 Sqft ∙ Built 1988
    LEASED 04/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $900
    • $0.80
    •  
  • 6560 Wilma Avenue #101 Las Vegas, NV 3
    • 2 beds 2 baths ∙ 1,196 Sqft ∙ Built 1998 2 beds 2 baths ∙ 1,196 Sqft ∙ Built 1998
    LEASED 12/19/19
    • Rent
    • Rent Per SQFT
    •  
    • $975
    • $0.82
    •  
  • 6455 Big Pine Way Las Vegas, NV 4
    • 2 beds 2 baths ∙ 1,056 Sqft ∙ Built 1984 2 beds 2 baths ∙ 1,056 Sqft ∙ Built 1984
    LEASED 01/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,000
    • $0.95
    •  
PROPERTY LISTING DETAILS
Richard Hammel
1.702.465.3525
Aspire Realty Goup
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2223815
Last Updated: 08/22/2020
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