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4409 Mallard Ridge Avenue Las Vegas, NV 89115

5 Beds 3 Baths 3,480 sqft Built 2008

INVESTimate

$375,000

List Price

$2,000

$1,800 - $2,200

Rent Est.

$416,663  ( +11.11%)   1 YR EST. FORECAST

PROPERTY INFO

August 23, 2020 RECENTLY ADDED
FACTS
  • Built In 2008
  • Price/Sqft : $107.76
  • 4 Days on Market
  • MLS # : 2224205
  • Updated Date : 08/23/2020 at 10:27
CONSTRUCTION
  • Beds : 5
  • Floor Size : 3,480 sqft
  • Baths : 3 full
Listing Agent

Brady Realty Group, Llc

Listing Agent's Description

THIS BEAUTIFUL 5 BEDROOM HOME WITH LOFT OFFERS TONS OF VALUE!! 3 CAR GARAGE. UPGRADED KITCHEN WITH GRANITE COUNTER TOPS, LARGE ISLAND AND BREAKFAST NOOK. FORMAL LIVING AND DINING ROOM. HUGE FAMILY ROOM. ONE BED AND BATH DOWNSTAIRS. MASTER SUITE WITH WALK IN CLOSETS, DOUBLE SINK VANITY AND SEPARATE SHOWER/TUB. A MUST SEE!!! TAKE A LOOK AT THE AMAZING 3-d TOUR AND CHECK OUT ALL THE DETAILS OF THIS AMAZING HOME IT'S A VIRTUAL WALK THROUGH!

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MARKET HIGHLIGHTS

  • 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)
  • As the largest share, Las Vegas metro contributes to 75.1% of Nevada state's economy i.e. Gross State Product (USMayors.org, 2018)

PRICE & RENT TRENDS

Neighborhood: North Las Vegas

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260k280kPrice in $84k296k

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

Neighborhood: North Las Vegas

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21000105011001150120012501300135014001450150015501600Rent in $9651603

* 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
D.l. Dusty Dickens Elementary School Primary Regular 753 43 6
Carroll M Johnston Middle School Middle Regular 1,365 58 NA
Legacy High School High Regular 2,819 119 3

D.l. Dusty Dickens Elementary School

  • Education Level: Primary
  • # of students: 753
  • # of teachers: 43
6
GreatSchools Rating

Carroll M Johnston Middle School

  • Education Level: Middle
  • # of students: 1,365
  • # of teachers: 58
NA
GreatSchools Rating

Legacy High School

  • Education Level: High
  • # of students: 2,819
  • # of teachers: 119
3
GreatSchools Rating
 

$337,500$412,500$375,000

PURCHASE PRICE

$1,800$2,200$2,000

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

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$1.2M$1.4M

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,000
EXPENSES Loan Payment -$1,384
Property Tax -$329
Property Insurance -$95
HOA -$51
Property Management Fees -$119
CASH FLOW
$23

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.

$375,000

PROJECTED PRICE

$2,000

PROJECTED RENT

0.53%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.75%
Appreciation Year (1-5) 11.11%
Maintenance Year (1-5) 8.00%
Vacancy 8.50%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$105,125

INVESTMENT

$105,125

Down Payment
$93,750
Rehab Estimate
$5,750
Closing Costs
$5,625

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,384

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $93,750
Loan Amount $281,250
See What Happens When You Reinvest Cash Flow

5.42

YEARS SAVED

$25,842

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,000

    LIST RENT
  • $0.57

    LIST RENT PER SQFT
  • $2,132

    COMP ESTIMATED VALUE
  • $0.61

    COMP AVG. RENT PER SQFT
Comps Range
$1,950
1$1,9502$1,9503$1,9954$2,0005$2,400
$2,400
RENT COMPS ANALYSIS
  • 4409 Mallard Ridge Avenue Las Vegas, NV 4
    • 5 beds 3 baths ∙ 3,480 Sqft ∙ Built 2008 5 beds 3 baths ∙ 3,480 Sqft ∙ Built 2008
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $0.57
    •  
  • 6117 Watermelon Street North Las Vegas, NV 1
    • 5 beds 4 baths ∙ 3,395 Sqft ∙ Built 2006 5 beds 4 baths ∙ 3,395 Sqft ∙ Built 2006
    LEASED 06/15/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $0.57
    •  
  • 6113 Kami Street #none North Las Vegas, NV 2
    • 5 beds 4 baths ∙ 3,395 Sqft ∙ Built 2006 5 beds 4 baths ∙ 3,395 Sqft ∙ Built 2006
    LEASED 06/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $0.57
    •  
  • 3544 Kagan Court North Las Vegas, NV 3
    • 5 beds 4 baths ∙ 3,320 Sqft ∙ Built 2006 5 beds 4 baths ∙ 3,320 Sqft ∙ Built 2006
    LEASED 10/07/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,995
    • $0.60
    •  
  • 6128 Mott Smith North Las Vegas, NV 5
    • 5 beds 4 baths ∙ 3,395 Sqft ∙ Built 2007 5 beds 4 baths ∙ 3,395 Sqft ∙ Built 2007
    LEASED 07/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,400
    • $0.71
    •  
PROPERTY LISTING DETAILS
Anthony Lapiana
1.702.660.8959
Brady Realty Group, Llc
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2224205
Last Updated: 08/23/2020
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