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3224 Ivory Coast Drive Las Vegas, NV 89117

2 Beds 2 Baths 1,250 sqft Built 1986

$299,900

List Price

$1,450

$1.3K - $1.6K

Rent Est.

PROPERTY INFO

January 02, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1986
  • Price/Sqft : $239.92
  • 3 Days on Market
  • MLS # : 2258713
  • Updated Date : 01/02/2021 at 08:00
CONSTRUCTION
  • Beds : 2
  • Floor Size : 1,250 sqft
  • Baths : 2 full
Listing Agent

Elite Homes Christie's Intl Re

Listing Agent's Description

Just minutes away from Lake Sahara, school, and shopping. Renovated 2-bedroom 2-bath SINGLE STORY property in The Lakes. 2 car garage with cabinetry. Separate laundry room. Covered patio. Breathable floor plan with brand new vinyl flooring and fresh paint throughout.

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: West Sahara

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300kPrice in $119k308k

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

Neighborhood: West Sahara

NeighborhoodNIR Market*CityMarket2010Year20002019 Q211001150120012501300135014001450150015501600Rent in $10621618

* 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
M.j. Christensen Elementary School Primary Regular 615 34 6
Lawrence Junior High School Middle Regular 1,421 61 NA
Spring Valley High School High Regular 1,925 79 4

M.j. Christensen Elementary School

  • Education Level: Primary
  • # of students: 615
  • # of teachers: 34
6
GreatSchools Rating

Lawrence Junior High School

  • Education Level: Middle
  • # of students: 1,421
  • # of teachers: 61
NA
GreatSchools Rating

Spring Valley High School

  • Education Level: High
  • # of students: 1,925
  • # of teachers: 79
4
GreatSchools Rating
 

$269,910$329,890$299,900

PURCHASE PRICE

$1,305$1,595$1,450

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,450
EXPENSES Loan Payment -$1,107
Property Tax -$180
Property Insurance -$51
Property Management Fees -$119
CASH FLOW
-$7

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.

$299,900

PROJECTED PRICE

$1,450

PROJECTED RENT

0.48%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.96%
Appreciation Year (1-5) 10.0%
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$1.2M

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$1.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$85,224

INVESTMENT

$85,224

Down Payment
$74,975
Rehab Estimate
$5,750
Closing Costs
$4,499

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 50% down payment or higher enables the proceeds from the asset to cover all costs.

$1,107

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $74,975
Loan Amount $224,925
See What Happens When You Reinvest Cash Flow

5.92

YEARS SAVED

$23,346

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,450

    LIST RENT
  • $1.16

    LIST RENT PER SQFT
  • $1,291

    COMP ESTIMATED VALUE
  • $1.03

    COMP AVG. RENT PER SQFT
Comps Range
$1,050
1$1,0502$1,3003$1,3254$1,4505$1,500
$1,500
RENT COMPS ANALYSIS
  • 3224 Ivory Coast Drive Las Vegas, NV 4
    • 2 beds 2 baths ∙ 1,250 Sqft ∙ Built 1986 2 beds 2 baths ∙ 1,250 Sqft ∙ Built 1986
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $1.16
    •  
  • 9070 Spring Mountain Road #201 Las Vegas, NV 1
    • 2 beds 2 baths ∙ 1,072 Sqft ∙ Built 1993 2 beds 2 baths ∙ 1,072 Sqft ∙ Built 1993
    LEASED 07/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,050
    • $0.98
    •  
  • 8478 Barossa Court Las Vegas, NV 2
    • 2 beds 2 baths ∙ 1,244 Sqft ∙ Built 2001 2 beds 2 baths ∙ 1,244 Sqft ∙ Built 2001
    LEASED 12/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,300
    • $1.05
    •  
  • 8672 Toscana Lane Las Vegas, NV 3
    • 2 beds 2 baths ∙ 1,250 Sqft ∙ Built 1987 2 beds 2 baths ∙ 1,250 Sqft ∙ Built 1987
    LEASED 04/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,325
    • $1.06
    •  
  • 2858 Anteres Street Las Vegas, NV 5
    • 2 beds 2 baths ∙ 1,448 Sqft ∙ Built 1998 2 beds 2 baths ∙ 1,448 Sqft ∙ Built 1998
    LEASED 01/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $1.04
    •  
PROPERTY LISTING DETAILS
Belen Clark
1.702.278.8065
Elite Homes Christie's Intl Re
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2258713
Last Updated: 01/02/2021
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