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32 Canopus Ridge Way Las Vegas, NV 89183

4 Beds 3 Baths 2,403 sqft Built 2016

INVESTimate

$439,000

List Price

$2,250

$2,025 - $2,475

Rent Est.

$481,978  ( +9.79%)   1 YR EST. FORECAST

PROPERTY INFO

FACTS
  • Built In 2016
  • Price/Sqft : $182.69
  • 9 Days on Market
  • MLS # : 2222955
  • Updated Date : 08/22/2020 at 07:41
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,403 sqft
  • Baths : 2 full , 1 half
Listing Agent

Rooftop Realty

Listing Agent's Description

This former model home is in a gated community with community pool, dog park, and walking trail, and features a large center island in kitchen with granite counter tops. Spacious master bedroom has strip views, large walk in closet, and separate tub and shower in the master bath. The living room is pre-wired for surround sound, and there is a huge loft space upstairs. The solar panels are just over a year old and owned, which means tremendous savings on electric!

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: Enterprise

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320k340k360kPrice in $119k362k

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

Neighborhood: Enterprise

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2100011001200130014001500160017001800Rent in $9981875

* 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 Schorr Elementary School Primary Regular 1,042 54 7
Del E Webb Middle School Middle Regular 1,863 74 NA
Liberty High School High Regular 2,496 105 5

Steve Schorr Elementary School

  • Education Level: Primary
  • # of students: 1,042
  • # of teachers: 54
7
GreatSchools Rating

Del E Webb Middle School

  • Education Level: Middle
  • # of students: 1,863
  • # of teachers: 74
NA
GreatSchools Rating

Liberty High School

  • Education Level: High
  • # of students: 2,496
  • # of teachers: 105
5
GreatSchools Rating
 

$395,100$482,900$439,000

PURCHASE PRICE

$2,025$2,475$2,250

RENT

DOWN PAYMENT
FINANCING

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M$1.6M

PROJECTED ANNUAL CASH FLOW

11530$0.0$5.0k$10k$15k$20k$25k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,250
EXPENSES Loan Payment -$1,620
Property Tax -$325
Property Insurance -$74
HOA -$70
Property Management Fees -$119
CASH FLOW
$42

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.

$439,000

PROJECTED PRICE

$2,250

PROJECTED RENT

0.51%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.05%
Appreciation Year (1-5) 9.79%
Maintenance Year (1-5) 8.00%
Vacancy 7.57%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$122,085

INVESTMENT

$122,085

Down Payment
$109,750
Rehab Estimate
$5,750
Closing Costs
$6,585

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,620

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $109,750
Loan Amount $329,250
See What Happens When You Reinvest Cash Flow

6.42

YEARS SAVED

$38,351

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,250

    LIST RENT
  • $0.94

    LIST RENT PER SQFT
  • $2,031

    COMP ESTIMATED VALUE
  • $0.85

    COMP AVG. RENT PER SQFT
Comps Range
$1,700
1$1,7002$1,9953$2,0004$2,2505$2,375
$2,375
RENT COMPS ANALYSIS
  • 32 Canopus Ridge Way Las Vegas, NV 4
    • 4 beds 3 baths ∙ 2,403 Sqft ∙ Built 2016 4 beds 3 baths ∙ 2,403 Sqft ∙ Built 2016
    • Rent
    • Rent Per SQFT
    •  
    • $2,250
    • $0.94
    •  
  • 11596 Stivali Las Vegas, NV 1
    • 5 beds 3 baths ∙ 2,297 Sqft ∙ Built 2005 5 beds 3 baths ∙ 2,297 Sqft ∙ Built 2005
    LEASED 04/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $0.74
    •  
  • 11310 Castor Street Las Vegas, NV 2
    • 3 beds 3 baths ∙ 2,323 Sqft ∙ Built 2016 3 beds 3 baths ∙ 2,323 Sqft ∙ Built 2016
    LEASED 08/23/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,995
    • $0.86
    •  
  • 11322 Castor Street Las Vegas, NV 3
    • 3 beds 3 baths ∙ 2,323 Sqft ∙ Built 2017 3 beds 3 baths ∙ 2,323 Sqft ∙ Built 2017
    LEASED 07/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $0.86
    •  
  • 65 Tesla Ridge Way Las Vegas, NV 5
    • 3 beds 3 baths ∙ 2,579 Sqft ∙ Built 2016 3 beds 3 baths ∙ 2,579 Sqft ∙ Built 2016
    LEASED 11/16/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,375
    • $0.92
    •  
PROPERTY LISTING DETAILS
Paul Rich
1.702.769.1495
Rooftop Realty
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2222955
Last Updated: 08/22/2020
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