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5625 Clay Ridge Road North Las Vegas, NV 89031

3 Beds 2 Baths 1,915 sqft Built 1990

$350,000

List Price

$1,580

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

December 19, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1990
  • Price/Sqft : $182.77
  • 5 Days on Market
  • MLS # : 2256551
  • Updated Date : 12/18/2020 at 22:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,915 sqft
  • Baths : 2 full
Listing Agent

Advantage Realty

Listing Agent's Description

Highly sought after single story home in the Eldorado community. This home features 3 bedrooms, 2 baths, 3 car garage on a 10,000+ square foot lot. Freshly painted, new carpet. Large master bedroom with separate entry to the incredibly large backyard. Solar panels. Work bench in the garage.

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: El Dorado

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320k340kPrice in $110k347k

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

Neighborhood: El Dorado

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21000105011001150120012501300135014001450150015501600Rent in $9671606

* 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
Lee Antonello Elementary School Primary Regular 654 36 7
Brian And Teri Cram Middle School Middle Regular 1,568 65 NA
Legacy High School High Regular 2,819 119 3

Lee Antonello Elementary School

  • Education Level: Primary
  • # of students: 654
  • # of teachers: 36
7
GreatSchools Rating

Brian And Teri Cram Middle School

  • Education Level: Middle
  • # of students: 1,568
  • # of teachers: 65
NA
GreatSchools Rating

Legacy High School

  • Education Level: High
  • # of students: 2,819
  • # of teachers: 119
3
GreatSchools Rating
 

$315,000$385,000$350,000

PURCHASE PRICE

$1,422$1,738$1,580

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,580
EXPENSES Loan Payment -$1,291
Property Tax -$241
Property Insurance -$64
Property Management Fees -$119
CASH FLOW
-$136

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.

$350,000

PROJECTED PRICE

$1,580

PROJECTED RENT

0.45%

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-$5.0k$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$1.2M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$98,500

INVESTMENT

$98,500

Down Payment
$87,500
Rehab Estimate
$5,750
Closing Costs
$5,250

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$1,291

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $87,500
Loan Amount $262,500
See What Happens When You Reinvest Cash Flow

4

YEARS SAVED

$15,281

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,580

    LIST RENT
  • $0.83

    LIST RENT PER SQFT
  • $1,623

    COMP ESTIMATED VALUE
  • $0.85

    COMP AVG. RENT PER SQFT
Comps Range
$1,465
1$1,4652$1,5003$1,5804$1,6005$1,695
$1,695
RENT COMPS ANALYSIS
  • 5625 Clay Ridge Road North Las Vegas, NV 3
    • 3 beds 2 baths ∙ 1,915 Sqft ∙ Built 1990 3 beds 2 baths ∙ 1,915 Sqft ∙ Built 1990
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,580
    • $0.83
    •  
  • 1648 Splinter Rock Way North Las Vegas, NV 1
    • 4 beds 2 baths ∙ 1,722 Sqft ∙ Built 1995 4 beds 2 baths ∙ 1,722 Sqft ∙ Built 1995
    property image
    LEASED 12/27/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,465
    • $0.85
    •  
  • 721 Turtleback Drive North Las Vegas, NV 2
    • 4 beds 2 baths ∙ 1,825 Sqft ∙ Built 2004 4 beds 2 baths ∙ 1,825 Sqft ∙ Built 2004
    property image
    LEASED 02/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $0.82
    •  
  • 1841 Arrow Stone Court #0 North Las Vegas, NV 4
    • 3 beds 3 baths ∙ 1,859 Sqft ∙ Built 2005 3 beds 3 baths ∙ 1,859 Sqft ∙ Built 2005
    property image
    LEASED 06/26/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $0.86
    •  
  • 1416 Grey Hunter Drive North Las Vegas, NV 5
    • 4 beds 3 baths ∙ 1,976 Sqft ∙ Built 1990 4 beds 3 baths ∙ 1,976 Sqft ∙ Built 1990
    property image
    LEASED 10/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $0.86
    •  
PROPERTY LISTING DETAILS
Linda C Keller
1.702.370.2372
Advantage Realty
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2256551
Last Updated: 12/18/2020
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