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4428 Ridgedale Avenue Las Vegas, NV 89121

4 Beds 2 Baths 1,702 sqft Built 1963

$245,000

List Price

$1,420

$1.3K - $1.6K

Rent Est.

PROPERTY INFO

January 27, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1963
  • Price/Sqft : $143.95
  • 5 Days on Market
  • MLS # : 2264669
  • Updated Date : 01/27/2021 at 22:30
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,702 sqft
  • Baths : 2 full
Listing Agent

Source Realty

Listing Agent's Description

Cute house on the East Side of town. This property features a semi open floor plan, large kitchen, large living area, 4 bedrooms and 2 full bathrooms. Tile throughout the entire house. This property will not last, priced to sell!! Make your appointment to view today!

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: Sunrise Manor

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260k280kPrice in $83k296k

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

Neighborhood: Sunrise Manor

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21000105011001150120012501300135014001450150015501600Rent in $9591603

* 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
Laura Dearing Elementary School Primary Regular 770 47 4
Jerome Mack Middle School Middle Regular 1,275 56 NA
Chaparral High School High Regular 2,270 87 3

Laura Dearing Elementary School

  • Education Level: Primary
  • # of students: 770
  • # of teachers: 47
4
GreatSchools Rating

Jerome Mack Middle School

  • Education Level: Middle
  • # of students: 1,275
  • # of teachers: 56
NA
GreatSchools Rating

Chaparral High School

  • Education Level: High
  • # of students: 2,270
  • # of teachers: 87
3
GreatSchools Rating
 

$220,500$269,500$245,000

PURCHASE PRICE

$1,278$1,562$1,420

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,420
EXPENSES Loan Payment -$851
Property Tax -$95
Property Insurance -$60
Property Management Fees -$119
CASH FLOW
$295

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.

$245,000

PROJECTED PRICE

$1,420

PROJECTED RENT

0.58%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.75%
Appreciation Year (1-5) 12.8%
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

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$70,675

INVESTMENT

$70,675

Down Payment
$61,250
Rehab Estimate
$5,750
Closing Costs
$3,675

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 30% down payment or higher enables the proceeds from the asset to cover all costs.

$851

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $61,250
Loan Amount $183,750
See What Happens When You Reinvest Cash Flow

11.58

YEARS SAVED

$43,592

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,420

    LIST RENT
  • $0.83

    LIST RENT PER SQFT
  • $1,396

    COMP ESTIMATED VALUE
  • $0.82

    COMP AVG. RENT PER SQFT
Comps Range
$1,100
1$1,1002$1,3803$1,4204$1,5005$1,500
$1,500
RENT COMPS ANALYSIS
  • 4428 Ridgedale Avenue Las Vegas, NV 3
    • 4 beds 2 baths ∙ 1,702 Sqft ∙ Built 1963 4 beds 2 baths ∙ 1,702 Sqft ∙ Built 1963
    • Rent
    • Rent Per SQFT
    •  
    • $1,420
    • $0.83
    •  
  • 3333 Ewa Beach Drive Las Vegas, NV 1
    • 3 beds 2 baths ∙ 1,400 Sqft ∙ Built 1979 3 beds 2 baths ∙ 1,400 Sqft ∙ Built 1979
    LEASED 07/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,100
    • $0.79
    •  
  • 4032 Avonwood Las Vegas, NV 2
    • 3 beds 1 baths ∙ 1,712 Sqft ∙ Built 1973 3 beds 1 baths ∙ 1,712 Sqft ∙ Built 1973
    LEASED 06/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,380
    • $0.81
    •  
  • 4004 Espanita Avenue Las Vegas, NV 4
    • 5 beds 2 baths ∙ 1,732 Sqft ∙ Built 1972 5 beds 2 baths ∙ 1,732 Sqft ∙ Built 1972
    LEASED 02/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $0.87
    •  
  • 4102 Twain Avenue Las Vegas, NV 5
    • 3 beds 3 baths ∙ 1,854 Sqft ∙ Built 1973 3 beds 3 baths ∙ 1,854 Sqft ∙ Built 1973
    LEASED 11/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $0.81
    •  
PROPERTY LISTING DETAILS
Flavio G Jimenez
1.702.375.5974
Source Realty
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2264669
Last Updated: 01/27/2021
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