Work with a dedicated Real Estate Advisor who will take your financial preferences and help you select and acquire properties that fit your criteria. Learn more

3009 Cradle Mountain Drive Las Vegas, NV 89134

2 Beds 2 Baths 1,179 sqft Built 1994

$274,900

List Price

$1,490

$1.3K - $1.6K

Rent Est.

PROPERTY INFO

December 12, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1994
  • Price/Sqft : $233.16
  • 5 Days on Market
  • MLS # : 2255074
  • Updated Date : 12/12/2020 at 10:29
CONSTRUCTION
  • Beds : 2
  • Floor Size : 1,179 sqft
  • Baths : 2 full
Listing Agent

Keller Williams Realty Sw

Listing Agent's Description

Upgrade your lifestyle and enjoy all the amenities that Sun City has to offer! You will not want to miss the golf courses, clubhouse, exercise facilities, tennis and bocce ball courts, indoor/outdoor pools, restaurants, social calendar and more! This two bedroom two bathroom home is situated on a peaceful and beautifully landscaped street. The bright and open floor plan offers a spacious living room with beautiful views of your generously sized backyard. You will not want to miss this home.

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: Sun City Summerlin

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320kPrice in $119k328k

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

Neighborhood: Sun City Summerlin

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21100115012001250130013501400145015001550160016501700Rent in $10671706

* 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
William Lummis Elementary School Primary Regular 555 27 7
Ernest Becker Middle School Middle Regular 1,392 56 NA
Palo Verde High School High Regular 3,024 114 9

William Lummis Elementary School

  • Education Level: Primary
  • # of students: 555
  • # of teachers: 27
7
GreatSchools Rating

Ernest Becker Middle School

  • Education Level: Middle
  • # of students: 1,392
  • # of teachers: 56
NA
GreatSchools Rating

Palo Verde High School

  • Education Level: High
  • # of students: 3,024
  • # of teachers: 114
9
GreatSchools Rating
 

$247,410$302,390$274,900

PURCHASE PRICE

$1,341$1,639$1,490

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,490
EXPENSES Loan Payment -$1,014
Property Tax -$193
Property Insurance -$50
Property Management Fees -$119
CASH FLOW
$114

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.

$274,900

PROJECTED PRICE

$1,490

PROJECTED RENT

0.54%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.96%
Appreciation Year (1-5) 9.1%
Maintenance Year (1-5) 8.00%
Vacancy 7.63%
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$0.0$5.0k$10k$15k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$78,599

INVESTMENT

$78,599

Down Payment
$68,725
Rehab Estimate
$5,750
Closing Costs
$4,124

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,014

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $68,725
Loan Amount $206,175
See What Happens When You Reinvest Cash Flow

8.08

YEARS SAVED

$33,791

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,490

    LIST RENT
  • $1.26

    LIST RENT PER SQFT
  • $1,247

    COMP ESTIMATED VALUE
  • $1.06

    COMP AVG. RENT PER SQFT
Comps Range
$1,200
1$1,2002$1,3453$1,4004$1,4905$1,595
$1,595
RENT COMPS ANALYSIS
  • 3009 Cradle Mountain Drive Las Vegas, NV 4
    • 2 beds 2 baths ∙ 1,179 Sqft ∙ Built 1994 2 beds 2 baths ∙ 1,179 Sqft ∙ Built 1994
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,490
    • $1.26
    •  
  • 3204 Mystic Ridge Court #0 Las Vegas, NV 1
    • 2 beds 1 baths ∙ 1,153 Sqft ∙ Built 1998 2 beds 1 baths ∙ 1,153 Sqft ∙ Built 1998
    property image
    LEASED 04/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,200
    • $1.04
    •  
  • 9512 City Hill Court Las Vegas, NV 2
    • 2 beds 1 baths ∙ 1,250 Sqft ∙ Built 1999 2 beds 1 baths ∙ 1,250 Sqft ∙ Built 1999
    property image
    LEASED 02/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,345
    • $1.08
    •  
  • 10036 Heyfield Drive #34 Las Vegas, NV 3
    • 2 beds 1 baths ∙ 1,332 Sqft ∙ Built 1994 2 beds 1 baths ∙ 1,332 Sqft ∙ Built 1994
    property image
    LEASED 01/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,400
    • $1.05
    •  
  • 3001 Cradle Mountain Drive Las Vegas, NV 5
    • 2 beds 2 baths ∙ 1,505 Sqft ∙ Built 1994 2 beds 2 baths ∙ 1,505 Sqft ∙ Built 1994
    property image
    LEASED 03/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $1.06
    •  
PROPERTY LISTING DETAILS
Adria K Lawrence
1.702.300.8076
Keller Williams Realty Sw
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2255074
Last Updated: 12/12/2020
BESbswy