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4372 Alderbrook Court Las Vegas, NV 89103

4 Beds 1 Baths 2,116 sqft Built 1975

$300,000

List Price

$1,650

$1.5K - $1.8K

Rent Est.

PROPERTY INFO

October 29, 2020 RECENTLY ADDED
FACTS
  • Built In 1975
  • Price/Sqft : $141.78
  • 6 Days on Market
  • MLS # : 2243077
  • Updated Date : 10/30/2020 at 16:40
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,116 sqft
  • Baths : 1 full
Listing Agent

Crown Point Realty, Llc

Listing Agent's Description

Fixer-Upper With No HOA And A Pool In 89103!! NEEDS SOME TLC! This Is 4 Bedroom, 3 Bathroom Home With Over 2,000 Interior Square Feet!! Lots Of Entertaining Space With Living Room, Family Room, And Dining Room! There Is A Patio Looking Over The Back Yard Off Of The Primary Bedroom, As Well As A Patio Off Of One Of The Upstairs Guest Bedrooms! This Home Sits On Over 6,500 Square Foot Lot, Has A Huge Pool/Spa, And A Covered Patio! Offers Will Not Be Reviewed Until After 7 Days On Market.

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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: Spring Valley

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280kPrice in $119k296k

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

Neighborhood: Spring Valley

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2105011001150120012501300135014001450150015501600Rent in $10381606

* 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
Harvey N. Dondero Elementary School Primary Regular 704 40 6
Kenny C. Guinn Middle School Middle Regular 820 40 NA
Durango High School High Regular 2,302 95 5

Harvey N. Dondero Elementary School

  • Education Level: Primary
  • # of students: 704
  • # of teachers: 40
6
GreatSchools Rating

Kenny C. Guinn Middle School

  • Education Level: Middle
  • # of students: 820
  • # of teachers: 40
NA
GreatSchools Rating

Durango High School

  • Education Level: High
  • # of students: 2,302
  • # of teachers: 95
5
GreatSchools Rating
 

$270,000$330,000$300,000

PURCHASE PRICE

$1,485$1,815$1,650

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,650
EXPENSES Loan Payment -$1,107
Property Tax -$158
Property Insurance -$68
Property Management Fees -$119
CASH FLOW
$198

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.

$300,000

PROJECTED PRICE

$1,650

PROJECTED RENT

0.55%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.96%
Appreciation Year (1-5) 9.9%
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$20k

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$85,250

INVESTMENT

$85,250

Down Payment
$75,000
Rehab Estimate
$5,750
Closing Costs
$4,500

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 35% 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 $75,000
Loan Amount $225,000
See What Happens When You Reinvest Cash Flow

9.42

YEARS SAVED

$45,960

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,650

    LIST RENT
  • $0.78

    LIST RENT PER SQFT
  • $1,777

    COMP ESTIMATED VALUE
  • $0.84

    COMP AVG. RENT PER SQFT
Comps Range
$1,595
1$1,5952$1,6503$1,7004$1,7955$1,975
$1,975
RENT COMPS ANALYSIS
  • 4372 Alderbrook Court Las Vegas, NV 2
    • 4 beds 1 baths ∙ 2,116 Sqft ∙ Built 1975 4 beds 1 baths ∙ 2,116 Sqft ∙ Built 1975
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.78
    •  
  • 6589 Mermaid Circle Las Vegas, NV 1
    • 4 beds 2 baths ∙ 2,161 Sqft ∙ Built 1981 4 beds 2 baths ∙ 2,161 Sqft ∙ Built 1981
    property image
    LEASED 12/18/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $0.74
    •  
  • 4691 Hackamore Drive #0 Las Vegas, NV 3
    • 4 beds 3 baths ∙ 2,161 Sqft ∙ Built 1983 4 beds 3 baths ∙ 2,161 Sqft ∙ Built 1983
    property image
    LEASED 08/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $0.79
    •  
  • 4570 Freshwater Drive Las Vegas, NV 4
    • 4 beds 3 baths ∙ 2,161 Sqft ∙ Built 1980 4 beds 3 baths ∙ 2,161 Sqft ∙ Built 1980
    property image
    LEASED 12/02/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,795
    • $0.83
    •  
  • 4200 Butterfield Way Las Vegas, NV 5
    • 4 beds 2 baths ∙ 1,980 Sqft ∙ Built 1977 4 beds 2 baths ∙ 1,980 Sqft ∙ Built 1977
    property image
    LEASED 01/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,975
    • $1.00
    •  
PROPERTY LISTING DETAILS
Matt Farnham
1.702.530.7289
Crown Point Realty, Llc
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2243077
Last Updated: 10/30/2020
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