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414 Finch Ridge Avenue North Las Vegas, NV 89032

5 Beds 5 Baths 3,210 sqft Built 2002

$400,000

List Price

$1,850

$1.7K - $2K

Rent Est.

PROPERTY INFO

November 19, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2002
  • Price/Sqft : $124.61
  • 5 Days on Market
  • MLS # : 2249223
  • Updated Date : 11/18/2020 at 20:00
CONSTRUCTION
  • Beds : 5
  • Floor Size : 3,210 sqft
  • Baths : 3 full , 2 half
Listing Agent

Dh Capital Realty

Listing Agent's Description

THIS BEAUTIFUL 2 STORY HOME HAS 5 BEDROOMS (1 BR DOWNSTAIRS WITH BATH),5 BATHROOMS, LOFT,3CAR GARAGE,WET BAR,SOLAR HEATED POOL WITH WATERFALL,SPA & PEBBLED SURFACE, BUILT-IN BBQ W/SMALL REFRIGERATOR, HARD WOOD FLOOR, SOLAR SCREENED WINDOWS,COVERED PATIO, MOUNTAIN VIEW FROM THE BACK YARD, AND MANY MORE

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: Gleneagles

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260k280kPrice in $84k296k

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

Neighborhood: Gleneagles

NeighborhoodNIR Market*CityMarket2010Year20002019 Q29501000105011001150120012501300135014001450150015501600Rent in $9221603

* 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
Dr Claude Perkins Elementary School Primary Regular 682 40 4
Marvin M Sedway Middle School Middle Regular 1,514 52 NA
Canyon Springs High School High Magnet 2,791 114 2

Dr Claude Perkins Elementary School

  • Education Level: Primary
  • # of students: 682
  • # of teachers: 40
4
GreatSchools Rating

Marvin M Sedway Middle School

  • Education Level: Middle
  • # of students: 1,514
  • # of teachers: 52
NA
GreatSchools Rating

Canyon Springs High School

  • Education Level: High
  • # of students: 2,791
  • # of teachers: 114
2
GreatSchools Rating
 

$360,000$440,000$400,000

PURCHASE PRICE

$1,665$2,035$1,850

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,850
EXPENSES Loan Payment -$1,476
Property Tax -$344
Property Insurance -$89
Property Management Fees -$119
CASH FLOW
-$178

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.

$400,000

PROJECTED PRICE

$1,850

PROJECTED RENT

0.46%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.75%
Appreciation Year (1-5) 8.6%
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$1.4M

PROJECTED ANNUAL CASH FLOW

11530-$5.0k$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$1.2M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$111,750

INVESTMENT

$111,750

Down Payment
$100,000
Rehab Estimate
$5,750
Closing Costs
$6,000

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$1,476

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $100,000
Loan Amount $300,000
See What Happens When You Reinvest Cash Flow

3.17

YEARS SAVED

$12,004

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,850

    LIST RENT
  • $0.58

    LIST RENT PER SQFT
  • $1,910

    COMP ESTIMATED VALUE
  • $0.6

    COMP AVG. RENT PER SQFT
Comps Range
$1,700
1$1,7002$1,7503$1,8504$1,9005$1,950
$1,950
RENT COMPS ANALYSIS
  • 414 Finch Ridge Avenue North Las Vegas, NV 3
    • 5 beds 5 baths ∙ 3,210 Sqft ∙ Built 2002 5 beds 5 baths ∙ 3,210 Sqft ∙ Built 2002
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $0.58
    •  
  • 2402 Endearing Court North Las Vegas, NV 1
    • 4 beds 3 baths ∙ 2,948 Sqft ∙ Built 2015 4 beds 3 baths ∙ 2,948 Sqft ∙ Built 2015
    LEASED 02/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $0.58
    •  
  • 316 Sergeant Jordan Avenue North Las Vegas, NV 2
    • 5 beds 4 baths ∙ 2,869 Sqft ∙ Built 2008 5 beds 4 baths ∙ 2,869 Sqft ∙ Built 2008
    LEASED 07/31/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.61
    •  
  • 723 Glenwood Springs Avenue North Las Vegas, NV 4
    • 6 beds 4 baths ∙ 3,223 Sqft ∙ Built 1999 6 beds 4 baths ∙ 3,223 Sqft ∙ Built 1999
    LEASED 11/06/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,900
    • $0.59
    •  
  • 3910 Eagle Rose Street #0 North Las Vegas, NV 5
    • 5 beds 5 baths ∙ 3,224 Sqft ∙ Built 2003 5 beds 5 baths ∙ 3,224 Sqft ∙ Built 2003
    LEASED 04/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $0.60
    •  
PROPERTY LISTING DETAILS
Onairam Valdivieso
1.702.241.4761
Dh Capital Realty
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2249223
Last Updated: 11/18/2020
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