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4909 Stormy Ridge Street North Las Vegas, NV 89081

3 Beds 2 Baths 1,750 sqft Built 2002

$285,000

List Price

$1,440

$1.3K - $1.6K

Rent Est.

PROPERTY INFO

FACTS
  • Single Family
  • Built In 2002
  • Price/Sqft : $162.86
  • 10 Days on Market
  • MLS # : 2268346
  • Updated Date : 02/12/2021 at 05:08
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,750 sqft
  • Baths : 2 full
Listing Agent

Realty One Group, Inc

Listing Agent's Description

Welcome home! This upgraded one story home features vaulted ceilings, fresh interior paint, ceiling fan/light combo in all rooms, updated light switch plates, carpet/tile flooring, walk-in pantry, recessed lighting with dimmer switch, updated lighting fixtures, white kitchen cabinets with hardware, separate primary bedroom with walk-in closet, a den with French doors, separate laundry room, finished 2 car garage, smart thermostat, dual pane windows with solar screens, and so much more!

SEE MORE

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: Cobblestone North Ridge

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260k280kPrice in $84k296k

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

Neighborhood: Cobblestone North Ridge

NeighborhoodNIR Market*CityMarket2010Year20002019 Q29501000105011001150120012501300135014001450150015501600Rent in $9421603

* 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
Jesse Scott Elementary School Primary Regular 853 45 2
Clifford O. Findlay Middle School Middle Regular 1,372 59 NA
Mojave High School High Regular 2,311 103 2

Jesse Scott Elementary School

  • Education Level: Primary
  • # of students: 853
  • # of teachers: 45
2
GreatSchools Rating

Clifford O. Findlay Middle School

  • Education Level: Middle
  • # of students: 1,372
  • # of teachers: 59
NA
GreatSchools Rating

Mojave High School

  • Education Level: High
  • # of students: 2,311
  • # of teachers: 103
2
GreatSchools Rating
 

$256,500$313,500$285,000

PURCHASE PRICE

$1,296$1,584$1,440

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,440
EXPENSES Loan Payment -$990
Property Tax -$230
Property Insurance -$61
Property Management Fees -$119
CASH FLOW
$40

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.

$285,000

PROJECTED PRICE

$1,440

PROJECTED RENT

0.51%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.75%
Appreciation Year (1-5) 11.2%
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-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k

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$81,275

INVESTMENT

$81,275

Down Payment
$71,250
Rehab Estimate
$5,750
Closing Costs
$4,275

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$990

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $71,250
Loan Amount $213,750
See What Happens When You Reinvest Cash Flow

6.08

YEARS SAVED

$18,982

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,440

    LIST RENT
  • $0.82

    LIST RENT PER SQFT
  • $1,457

    COMP ESTIMATED VALUE
  • $0.83

    COMP AVG. RENT PER SQFT
Comps Range
$1,360
1$1,3602$1,4403$1,4504$1,4505$1,550
$1,550
RENT COMPS ANALYSIS
  • 4909 Stormy Ridge Street North Las Vegas, NV 2
    • 3 beds 2 baths ∙ 1,750 Sqft ∙ Built 2002 3 beds 2 baths ∙ 1,750 Sqft ∙ Built 2002
    • Rent
    • Rent Per SQFT
    •  
    • $1,440
    • $0.82
    •  
  • 712 Fort Mandan North Las Vegas, NV 1
    • 3 beds 3 baths ∙ 1,615 Sqft ∙ Built 2005 3 beds 3 baths ∙ 1,615 Sqft ∙ Built 2005
    LEASED 05/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,360
    • $0.84
    •  
  • 4935 Stormy Ridge Street Las Vegas, NV 3
    • 4 beds 2 baths ∙ 1,750 Sqft ∙ Built 2001 4 beds 2 baths ∙ 1,750 Sqft ∙ Built 2001
    LEASED 04/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $0.83
    •  
  • 1101 Edgestone Mark Avenue North Las Vegas, NV 4
    • 3 beds 2 baths ∙ 1,750 Sqft ∙ Built 2002 3 beds 2 baths ∙ 1,750 Sqft ∙ Built 2002
    LEASED 01/25/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $0.83
    •  
  • 717 Fort Mandan Court #n/a North Las Vegas, NV 5
    • 3 beds 3 baths ∙ 1,869 Sqft ∙ Built 2005 3 beds 3 baths ∙ 1,869 Sqft ∙ Built 2005
    LEASED 11/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $0.83
    •  
PROPERTY LISTING DETAILS
Sarrah Grace G Porter
1.702.793.1946
Realty One Group, Inc
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2268346
Last Updated: 02/12/2021
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