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2920 Chilly Nights Avenue North Las Vegas, NV 89031

4 Beds 3 Baths 2,401 sqft Built 2004

$314,900

List Price

$1,760

$1.6K - $1.9K

Rent Est.

PROPERTY INFO

November 18, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2004
  • Price/Sqft : $131.15
  • 7 Days on Market
  • MLS # : 2248480
  • Updated Date : 11/20/2020 at 22:50
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,401 sqft
  • Baths : 2 full , 1 half
Listing Agent

Bhhs Nevada Properties

Listing Agent's Description

This spacious home has 4 bedrooms on the second floor AND a separate office/den downstairs for remote work & schooling!   The open floorplan combines dining, living room and a large kitchen with island & stainless steel appliances. HUGE backyard has a healthy lawn and lots of shade in the afternoon due to the position of the lot, with an area for gardening, pets or a future pool! Natural light pours into the large master bedroom with an attached bath and WIC.  Flooring upstairs has been updated with stunning dark wood-look tile providing a nice design contrast and cooler temps during hot summers. Located in a quiet neighborhood in the NW with Low HOA!

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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)

PRICE & RENT TRENDS

Neighborhood: Autumn Chase

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260k280k300kPrice in $84k311k

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

Neighborhood: Autumn Chase

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21000105011001150120012501300135014001450150015501600Rent in $9641603

* 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
Steve Cozine Elementary School Primary Regular 773 41 5
Brian And Teri Cram Middle School Middle Regular 1,568 65 NA
Cheyenne High School High Regular 2,212 91 2

Steve Cozine Elementary School

  • Education Level: Primary
  • # of students: 773
  • # of teachers: 41
5
GreatSchools Rating

Brian And Teri Cram Middle School

  • Education Level: Middle
  • # of students: 1,568
  • # of teachers: 65
NA
GreatSchools Rating

Cheyenne High School

  • Education Level: High
  • # of students: 2,212
  • # of teachers: 91
2
GreatSchools Rating
 

$283,410$346,390$314,900

PURCHASE PRICE

$1,584$1,936$1,760

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,760
EXPENSES Loan Payment -$1,162
Property Tax -$264
Property Insurance -$74
Property Management Fees -$119
CASH FLOW
$141

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.

$314,900

PROJECTED PRICE

$1,760

PROJECTED RENT

0.56%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.75%
Appreciation Year (1-5) 10.8%
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$20k

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$89,199

INVESTMENT

$89,199

Down Payment
$78,725
Rehab Estimate
$5,750
Closing Costs
$4,724

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 40% down payment or higher enables the proceeds from the asset to cover all costs.

$1,162

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $78,725
Loan Amount $236,175
See What Happens When You Reinvest Cash Flow

7.5

YEARS SAVED

$35,356

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,760

    LIST RENT
  • $0.73

    LIST RENT PER SQFT
  • $1,735

    COMP ESTIMATED VALUE
  • $0.72

    COMP AVG. RENT PER SQFT
Comps Range
$1,575
1$1,5752$1,6003$1,6954$1,6995$1,760
$1,760
RENT COMPS ANALYSIS
  • 2920 Chilly Nights Avenue North Las Vegas, NV 5
    • 4 beds 3 baths ∙ 2,401 Sqft ∙ Built 2004 4 beds 3 baths ∙ 2,401 Sqft ∙ Built 2004
    • Rent
    • Rent Per SQFT
    •  
    • $1,760
    • $0.73
    •  
  • 4837 El Campo Grande Las Vegas, NV 1
    • 4 beds 3 baths ∙ 2,300 Sqft ∙ Built 2001 4 beds 3 baths ∙ 2,300 Sqft ∙ Built 2001
    LEASED 05/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,575
    • $0.68
    •  
  • 2917 Chilly Nights Avenue North Las Vegas, NV 2
    • 3 beds 2 baths ∙ 2,401 Sqft ∙ Built 2004 3 beds 2 baths ∙ 2,401 Sqft ∙ Built 2004
    LEASED 03/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $0.67
    •  
  • 2520 Rainy Meadows Avenue North Las Vegas, NV 3
    • 4 beds 3 baths ∙ 2,210 Sqft ∙ Built 2019 4 beds 3 baths ∙ 2,210 Sqft ∙ Built 2019
    LEASED 03/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $0.77
    •  
  • 4516 Ryder Lane North Las Vegas, NV 4
    • 3 beds 2 baths ∙ 2,216 Sqft ∙ Built 1990 3 beds 2 baths ∙ 2,216 Sqft ∙ Built 1990
    LEASED 09/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,699
    • $0.77
    •  
PROPERTY LISTING DETAILS
Daniel Mumm
1.702.626.0552
Bhhs Nevada Properties
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2248480
Last Updated: 11/20/2020
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