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4593 Rancho Hills Drive Las Vegas, NV 89119

5 Beds 2 Baths 3,435 sqft Built 1964

INVESTimate

$558,800

List Price

$2,380

$2,142 - $2,618

Rent Est.

$611,160  ( +9.37%)   1 YR EST. FORECAST

PROPERTY INFO

August 21, 2020 RECENTLY ADDED
FACTS
  • Built In 1964
  • Price/Sqft : $162.68
  • 7 Days on Market
  • MLS # : 2221770
  • Updated Date : 08/21/2020 at 09:05
CONSTRUCTION
  • Beds : 5
  • Floor Size : 3,435 sqft
  • Baths : 2 full
Listing Agent

Re/max Reliance

Listing Agent's Description

One story with a pool, fully landscape home with lot size 18,295. No HOA! Home features large open floor with separate living and family room with a brick fire place, can be used as wood or gas burning, located in the family area. Laminate wood flooring throughout. Kitchen has granite countertop, pantry and tile flooring. Dining area sits off the kitchen. Fans in living and family room, bedrooms, sunroom, (total of 9 fans). Large bedrooms with mirror doors. Garage has been converted to rental income or mother-in-law with a separate large kitchen living area with fans, appliances, stackable washer/dryer with own entrance to the outside to an additional patio area. Four french doors lead out to the covered patio and pool. There is a gazebo to sit and enjoy the outdoor patio. Yard has a firepit and many mature pine trees. Dusk to dawn lights surround the exterior of the house. The washer and dryer in the laundry / pantry room in the main part of the house does not stay with the property.

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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: Paradise

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280kPrice in $112k296k

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

Neighborhood: Paradise

NeighborhoodNIR Market*CityMarket2010Year20002019 Q211001150120012501300135014001450150015501600Rent in $10761606

* 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
Lewis E. Rowe Elementary School Primary Regular 657 39 6
William E. Orr Middle School Middle Regular 933 36 NA
Del Sol High School High Regular 2,051 73 2

Lewis E. Rowe Elementary School

  • Education Level: Primary
  • # of students: 657
  • # of teachers: 39
6
GreatSchools Rating

William E. Orr Middle School

  • Education Level: Middle
  • # of students: 933
  • # of teachers: 36
NA
GreatSchools Rating

Del Sol High School

  • Education Level: High
  • # of students: 2,051
  • # of teachers: 73
2
GreatSchools Rating
 

$502,920$614,680$558,800

PURCHASE PRICE

$2,142$2,618$2,380

RENT

DOWN PAYMENT
FINANCING

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$500k$1.0M$1.5M$2.0M

PROJECTED ANNUAL CASH FLOW

11530-$5.0k$0.0$5.0k$10k$15k$20k$25k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M$1.6M$1.8M

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,380
EXPENSES Loan Payment -$2,062
Property Tax -$201
Property Insurance -$94
Property Management Fees -$119
CASH FLOW
-$96

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.

$558,800

PROJECTED PRICE

$2,380

PROJECTED RENT

0.43%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.96%
Appreciation Year (1-5) 9.37%
Maintenance Year (1-5) 8.00%
Vacancy 7.63%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$153,832

INVESTMENT

$153,832

Down Payment
$139,700
Rehab Estimate
$5,750
Closing Costs
$8,382

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,062

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $139,700
Loan Amount $419,100
See What Happens When You Reinvest Cash Flow

5.33

YEARS SAVED

$36,721

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,380

    LIST RENT
  • $0.69

    LIST RENT PER SQFT
  • $2,714

    COMP ESTIMATED VALUE
  • $0.79

    COMP AVG. RENT PER SQFT
Comps Range
$2,380
1$2,3802$2,5953$2,700
$2,700
RENT COMPS ANALYSIS
  • 4593 Rancho Hills Drive Las Vegas, NV 1
    • 5 beds 2 baths ∙ 3,435 Sqft ∙ Built 1964 5 beds 2 baths ∙ 3,435 Sqft ∙ Built 1964
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,380
    • $0.69
    •  
  • 5682 Mojave Road Las Vegas, NV 2
    • 5 beds 3 baths ∙ 3,324 Sqft ∙ Built 1973 5 beds 3 baths ∙ 3,324 Sqft ∙ Built 1973
    property image
    LEASED 06/28/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,595
    • $0.78
    •  
  • 1625 Santa Anita Drive Las Vegas, NV 3
    • 5 beds 3 baths ∙ 3,392 Sqft ∙ Built 1965 5 beds 3 baths ∙ 3,392 Sqft ∙ Built 1965
    property image
    LEASED 07/04/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,700
    • $0.80
    •  
PROPERTY LISTING DETAILS
Robert Ratliff
1.702.807.5528
Re/max Reliance
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2221770
Last Updated: 08/21/2020
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