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5058 Fiery Sky Ridge Street Las Vegas, NV 89148

3 Beds 3 Baths 1,677 sqft Built 2016

$348,000

List Price

$1,610

$1.4K - $1.8K

Rent Est.

PROPERTY INFO

February 13, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2016
  • Price/Sqft : $207.51
  • 2 Days on Market
  • MLS # : 2270052
  • Updated Date : 02/13/2021 at 21:30
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,677 sqft
  • Baths : 2 full , 1 half
Listing Agent

All Vegas Properties

Listing Agent's Description

Fabulous two story Spring Valley 3 bedroom, 2.5 bath Home located adjacent to Summerlin in convenient and a booming SW Valley, featuring island kitchen with granite slab countertops, stainless steel appliances with master bedroom eastern partial views of Las Vegas Strip and secondary bedroom with western sunset mountain views. Turnkey Property, Low maintenance and easy to clean landscaping.

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: Rhodes Ranch

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320kPrice in $119k339k

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

Neighborhood: Rhodes Ranch

NeighborhoodNIR Market*CityMarket2010Year20002019 Q211001200130014001500160017001800Rent in $10551829

* 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
Lucille Rogers Elementary School Primary Regular 775 43 9
Victoria Fertitta Middle School Middle Regular 1,472 60 NA
Durango High School High Regular 2,302 95 5

Lucille Rogers Elementary School

  • Education Level: Primary
  • # of students: 775
  • # of teachers: 43
9
GreatSchools Rating

Victoria Fertitta Middle School

  • Education Level: Middle
  • # of students: 1,472
  • # of teachers: 60
NA
GreatSchools Rating

Durango High School

  • Education Level: High
  • # of students: 2,302
  • # of teachers: 95
5
GreatSchools Rating
 

$313,200$382,800$348,000

PURCHASE PRICE

$1,449$1,771$1,610

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,610
EXPENSES Loan Payment -$1,209
Property Tax -$251
Property Insurance -$60
Property Management Fees -$119
CASH FLOW
-$29

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.

$348,000

PROJECTED PRICE

$1,610

PROJECTED RENT

0.46%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.96%
Appreciation Year (1-5) 8.8%
Maintenance Year (1-5) 8.00%
Vacancy 7.63%
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

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$97,970

INVESTMENT

$97,970

Down Payment
$87,000
Rehab Estimate
$5,750
Closing Costs
$5,220

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,209

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $87,000
Loan Amount $261,000
See What Happens When You Reinvest Cash Flow

5.42

YEARS SAVED

$19,754

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,610

    LIST RENT
  • $0.96

    LIST RENT PER SQFT
  • $1,602

    COMP ESTIMATED VALUE
  • $0.96

    COMP AVG. RENT PER SQFT
Comps Range
$1,550
1$1,5502$1,5503$1,6004$1,6105$1,675
$1,675
RENT COMPS ANALYSIS
  • 5058 Fiery Sky Ridge Street Las Vegas, NV 4
    • 3 beds 3 baths ∙ 1,677 Sqft ∙ Built 2016 3 beds 3 baths ∙ 1,677 Sqft ∙ Built 2016
    • Rent
    • Rent Per SQFT
    •  
    • $1,610
    • $0.96
    •  
  • 9946 Ridgehaven Avenue Las Vegas, NV 1
    • 3 beds 2 baths ∙ 1,713 Sqft ∙ Built 2000 3 beds 2 baths ∙ 1,713 Sqft ∙ Built 2000
    LEASED 08/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $0.90
    •  
  • 10084 Flagstaff Butte Avenue #0 Las Vegas, NV 2
    • 3 beds 3 baths ∙ 1,662 Sqft ∙ Built 2002 3 beds 3 baths ∙ 1,662 Sqft ∙ Built 2002
    LEASED 08/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $0.93
    •  
  • 10115 Basalt Hollow Avenue Las Vegas, NV 3
    • 3 beds 3 baths ∙ 1,613 Sqft ∙ Built 2001 3 beds 3 baths ∙ 1,613 Sqft ∙ Built 2001
    LEASED 03/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $0.99
    •  
  • 5059 Fiery Sky Ridge Street Las Vegas, NV 5
    • 3 beds 3 baths ∙ 1,677 Sqft ∙ Built 2017 3 beds 3 baths ∙ 1,677 Sqft ∙ Built 2017
    LEASED 04/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,675
    • $1.00
    •  
PROPERTY LISTING DETAILS
Joon H Shim
1.702.376.5988
All Vegas Properties
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2270052
Last Updated: 02/13/2021
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