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57 Apricot Ridge Avenue Las Vegas, NV 89183

5 Beds 3 Baths 2,960 sqft Built 2013

INVESTimate

$600,000

List Price

$2,440

$2,196 - $2,684

Rent Est.

$658,740  ( +9.79%)   1 YR EST. FORECAST

PROPERTY INFO

August 22, 2020 RECENTLY ADDED
FACTS
  • Built In 2013
  • Price/Sqft : $202.70
  • 5 Days on Market
  • MLS # : 2224035
  • Updated Date : 08/22/2020 at 15:38
CONSTRUCTION
  • Beds : 5
  • Floor Size : 2,960 sqft
  • Baths : 3 full
Listing Agent

Huntington & Ellis, A Real Est

Listing Agent's Description

This gorgeous home is nestled in at the end of the cul-de-sac within a quiet small gated community with easy access to the I-15. A rare find, this turn key property lives like a single story with a separate detached casita that can be used as a home office or home gym. The large master bedroom is located on the main level and features a soaker tub in the ensuite bathroom. Upstairs you will find a large loft with additional bedroom and bathroom including a balcony with mountain and city views. Relax with a custom built fire pit in a private courtyard while enjoying the alluring landscape. The gourmet kitchen includes SS Viking appliances along with granite countertops with an expansive island to an open floor plan great for entertaining. The home offers many custom built-ins in addition to ceiling speakers. This lovely home was a second home owned by non-smokers without any pets. Security cameras and alarm system included. Fabulous layout with all the right spaces!

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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: Enterprise

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320k340k360kPrice in $119k362k

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

Neighborhood: Enterprise

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2100011001200130014001500160017001800Rent in $9981875

* 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
John C. Bass Elementary School Primary Regular 885 46 6
Charles Silvestri Junior High School Middle Regular 1,748 68 NA
Liberty High School High Regular 2,496 105 5

John C. Bass Elementary School

  • Education Level: Primary
  • # of students: 885
  • # of teachers: 46
6
GreatSchools Rating

Charles Silvestri Junior High School

  • Education Level: Middle
  • # of students: 1,748
  • # of teachers: 68
NA
GreatSchools Rating

Liberty High School

  • Education Level: High
  • # of students: 2,496
  • # of teachers: 105
5
GreatSchools Rating
 

$540,000$660,000$600,000

PURCHASE PRICE

$2,196$2,684$2,440

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$500k$1.0M$1.5M$2.0M

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,440
EXPENSES Loan Payment -$2,214
Property Tax -$424
Property Insurance -$85
HOA -$78
Property Management Fees -$119
CASH FLOW
-$479

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.

$600,000

PROJECTED PRICE

$2,440

PROJECTED RENT

0.41%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.05%
Appreciation Year (1-5) 9.79%
Maintenance Year (1-5) 8.00%
Vacancy 7.57%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$164,750

INVESTMENT

$164,750

Down Payment
$150,000
Rehab Estimate
$5,750
Closing Costs
$9,000

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 60% down payment or higher enables the proceeds from the asset to cover all costs.

$2,214

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $150,000
Loan Amount $450,000
See What Happens When You Reinvest Cash Flow

2

YEARS SAVED

$9,219

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,440

    LIST RENT
  • $0.82

    LIST RENT PER SQFT
  • $2,116

    COMP ESTIMATED VALUE
  • $0.72

    COMP AVG. RENT PER SQFT
Comps Range
$1,895
1$1,8952$1,9503$1,9504$2,4395$2,440
$2,440
RENT COMPS ANALYSIS
  • 57 Apricot Ridge Avenue Las Vegas, NV 5
    • 5 beds 3 baths ∙ 2,960 Sqft ∙ Built 2013 5 beds 3 baths ∙ 2,960 Sqft ∙ Built 2013
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,440
    • $0.82
    •  
  • 11719 San Rossore Court Las Vegas, NV 1
    • 5 beds 3 baths ∙ 2,774 Sqft ∙ Built 2005 5 beds 3 baths ∙ 2,774 Sqft ∙ Built 2005
    property image
    LEASED 08/31/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,895
    • $0.68
    •  
  • 11593 Autunno Street Las Vegas, NV 2
    • 5 beds 2 baths ∙ 2,774 Sqft ∙ Built 2004 5 beds 2 baths ∙ 2,774 Sqft ∙ Built 2004
    property image
    LEASED 02/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $0.70
    •  
  • 11829 Galvani Las Vegas, NV 3
    • 5 beds 3 baths ∙ 2,774 Sqft ∙ Built 2005 5 beds 3 baths ∙ 2,774 Sqft ∙ Built 2005
    property image
    LEASED 06/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $0.70
    •  
  • 11432 Storici Street Las Vegas, NV 4
    • 5 beds 3 baths ∙ 3,133 Sqft ∙ Built 2005 5 beds 3 baths ∙ 3,133 Sqft ∙ Built 2005
    property image
    LEASED 10/01/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,439
    • $0.78
    •  
PROPERTY LISTING DETAILS
Kolton Villa
1.702.300.7255
Huntington & Ellis, A Real Est
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2224035
Last Updated: 08/22/2020
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