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3123 Cedar Point Way North Las Vegas, NV 89031

3 Beds 2 Baths 1,472 sqft Built 1997

$285,000

List Price

$1,480

$1.3K - $1.6K

Rent Est.

PROPERTY INFO

December 20, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1997
  • Price/Sqft : $193.61
  • 8 Days on Market
  • MLS # : 2256903
  • Updated Date : 12/22/2020 at 15:03
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,472 sqft
  • Baths : 2 full
Listing Agent

Realty One Group, Inc

Listing Agent's Description

Beautiful single story home located in North Las Vegas. Conveniently located near the Nellis Air Force Base. This home has been very well maintained. 3 bedroom and 2 bathroom home with no carpet! Huge family room with a fireplace.. Plenty of room for gatherings. Primary bathroom feature a walk-in tub. Low maintenance front yard. Backyard has gorgeous landscaping with real grass, palm trees, and a nice patio cover. Solar panels to keep energy costs low. Lots of upgrades! You will not be disappointed!

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: Sheep Mountain Estates

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260k280kPrice in $84k296k

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

Neighborhood: Sheep Mountain Estates

NeighborhoodNIR Market*CityMarket2010Year20002019 Q29001000110012001300140015001600Rent in $8581603

* 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
 

$256,500$313,500$285,000

PURCHASE PRICE

$1,332$1,628$1,480

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,480
EXPENSES Loan Payment -$1,052
Property Tax -$201
Property Insurance -$56
Property Management Fees -$119
CASH FLOW
$53

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.

$285,000

PROJECTED PRICE

$1,480

PROJECTED RENT

0.52%

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-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k$16k

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$81,275

INVESTMENT

$81,275

Down Payment
$71,250
Rehab Estimate
$5,750
Closing Costs
$4,275

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 45% down payment or higher enables the proceeds from the asset to cover all costs.

$1,052

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $71,250
Loan Amount $213,750
See What Happens When You Reinvest Cash Flow

6.5

YEARS SAVED

$24,901

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,480

    LIST RENT
  • $1.01

    LIST RENT PER SQFT
  • $1,317

    COMP ESTIMATED VALUE
  • $0.9

    COMP AVG. RENT PER SQFT
Comps Range
$1,350
1$1,3502$1,3953$1,4004$1,4805$1,495
$1,495
RENT COMPS ANALYSIS
  • 3123 Cedar Point Way North Las Vegas, NV 4
    • 3 beds 2 baths ∙ 1,472 Sqft ∙ Built 1997 3 beds 2 baths ∙ 1,472 Sqft ∙ Built 1997
    • Rent
    • Rent Per SQFT
    •  
    • $1,480
    • $1.01
    •  
  • 2913 Honeysuckle North Las Vegas, NV 1
    • 4 beds 2 baths ∙ 1,594 Sqft ∙ Built 2003 4 beds 2 baths ∙ 1,594 Sqft ∙ Built 2003
    LEASED 08/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,350
    • $0.85
    •  
  • 2805 Bahama Point Avenue North Las Vegas, NV 2
    • 3 beds 2 baths ∙ 1,628 Sqft ∙ Built 2000 3 beds 2 baths ∙ 1,628 Sqft ∙ Built 2000
    LEASED 01/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,395
    • $0.86
    •  
  • 2506 Roaring Lion Avenue North Las Vegas, NV 3
    • 3 beds 2 baths ∙ 1,505 Sqft ∙ Built 1998 3 beds 2 baths ∙ 1,505 Sqft ∙ Built 1998
    LEASED 02/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,400
    • $0.93
    •  
  • 5232 Shasta Daisy Street North Las Vegas, NV 5
    • 4 beds 2 baths ∙ 1,594 Sqft ∙ Built 2001 4 beds 2 baths ∙ 1,594 Sqft ∙ Built 2001
    LEASED 02/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,495
    • $0.94
    •  
PROPERTY LISTING DETAILS
Donovan Reyes
1.702.898.1010
Realty One Group, Inc
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2256903
Last Updated: 12/22/2020
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