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4987 Miners Ridge Drive Las Vegas, NV 89122

3 Beds 3 Baths 1,540 sqft Built 2001

$279,900

List Price

$1,360

$1.2K - $1.5K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
February 18, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2001
  • Price/Sqft : $181.75
  • 5 Days on Market
  • MLS # : 2270925
  • Updated Date : 02/18/2021 at 18:34
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,540 sqft
  • Baths : 2 full , 1 half
Listing Agent

Bhhs Nevada Properties

Listing Agent's Description

BEAUTIFUL 3 BEDROOM2.5BATH 2 CAR GARAGE HOME LOCATED SMALL QUIET GATED COMMUNITY. FRESH PAINT THROUGHOUT THE WHOLE HOUSE. ALL NEW LIGHT FIXTURES ALL NEW WINDOW BLINDS. ALL BEDROOM HAVE CEILING FANS. OPEN FLOOR PLAN, DOWNSTAIRS TITLE FLOOR. GOURMET KITCHEN WITH GRANITE COUNTERTOP OPEN TO DINNING AREA. COMMUNITY POOL, CLUB HOUSE BASKETBALL COURTS AND MUCH MORE. JUST PACK AND MOVE WON'T LAST!

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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)

PRICE & RENT TRENDS

Zip Code: 89122

ZipNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260k280kPrice in $84k296k

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

Zip Code: 89122

ZipNIR 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
Sister Robert Joseph Bailey Elementary School Primary Regular 839 46 4
Francis Cortney Middle School Middle Regular 1,235 52 NA
Basic High School High Regular 2,367 100 3

Sister Robert Joseph Bailey Elementary School

  • Education Level: Primary
  • # of students: 839
  • # of teachers: 46
4
GreatSchools Rating

Francis Cortney Middle School

  • Education Level: Middle
  • # of students: 1,235
  • # of teachers: 52
NA
GreatSchools Rating

Basic High School

  • Education Level: High
  • # of students: 2,367
  • # of teachers: 100
3
GreatSchools Rating
 

$251,910$307,890$279,900

PURCHASE PRICE

$1,224$1,496$1,360

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,360
EXPENSES Loan Payment -$972
Property Tax -$175
Property Insurance -$57
Property Management Fees -$119
CASH FLOW
$36

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.

$279,900

PROJECTED PRICE

$1,360

PROJECTED RENT

0.49%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.75%
Appreciation Year (1-5) 11.1%
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

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$79,924

INVESTMENT

$79,924

Down Payment
$69,975
Rehab Estimate
$5,750
Closing Costs
$4,199

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 45% down payment or higher enables the proceeds from the asset to cover all costs.

$972

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $69,975
Loan Amount $209,925
See What Happens When You Reinvest Cash Flow

6.17

YEARS SAVED

$19,159

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,360

    LIST RENT
  • $0.88

    LIST RENT PER SQFT
  • $1,363

    COMP ESTIMATED VALUE
  • $0.89

    COMP AVG. RENT PER SQFT
Comps Range
$1,295
1$1,2952$1,3603$1,3954$1,4005$1,550
$1,550
RENT COMPS ANALYSIS
  • 4987 Miners Ridge Drive Las Vegas, NV 2
    • 3 beds 3 baths ∙ 1,540 Sqft ∙ Built 2001 3 beds 3 baths ∙ 1,540 Sqft ∙ Built 2001
    • Rent
    • Rent Per SQFT
    •  
    • $1,360
    • $0.88
    •  
  • 4915 Midnight Oil Drive Las Vegas, NV 1
    • 3 beds 3 baths ∙ 1,540 Sqft ∙ Built 2003 3 beds 3 baths ∙ 1,540 Sqft ∙ Built 2003
    LEASED 10/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,295
    • $0.84
    •  
  • 5291 Broadlake Lane Las Vegas, NV 3
    • 3 beds 2 baths ∙ 1,552 Sqft ∙ Built 2006 3 beds 2 baths ∙ 1,552 Sqft ∙ Built 2006
    LEASED 12/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,395
    • $0.90
    •  
  • 4957 Miners Ridge Drive Las Vegas, NV 4
    • 3 beds 3 baths ∙ 1,540 Sqft ∙ Built 2003 3 beds 3 baths ∙ 1,540 Sqft ∙ Built 2003
    LEASED 12/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,400
    • $0.91
    •  
  • 6478 Karlsen Court Las Vegas, NV 5
    • 4 beds 3 baths ∙ 1,735 Sqft ∙ Built 2005 4 beds 3 baths ∙ 1,735 Sqft ∙ Built 2005
    LEASED 02/02/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $0.89
    •  
PROPERTY LISTING DETAILS
Lily Fu
1.702.496.7788
Bhhs Nevada Properties
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2270925
Last Updated: 02/18/2021
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