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654 Ravenglen Drive Las Vegas, NV 89123

4 Beds 2 Baths 2,554 sqft Built 1991

$440,000

List Price

$2,090

$1.9K - $2.3K

Rent Est.

PROPERTY INFO

December 18, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1991
  • Price/Sqft : $172.28
  • 4 Days on Market
  • MLS # : 2256413
  • Updated Date : 12/17/2020 at 17:30
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,554 sqft
  • Baths : 2 full
Listing Agent

Keller Williams Market Place

Listing Agent's Description

Wow! Look no further than this beautiful home like no other. Home features recently new carpet, tile, and paint throughout the interior and exterior. Spectacular kitchen with custom cherry wood cabinetry that offers tons of storage space with a large island. Includes formal living areas and window shutters throughout. Lush mature landscaping in front and backyard with artificial grass perfect for relaxing. Includes a two-car garage with a drive that has potential for RV parking or 3+ cars. No HOA and located with close proximity to the highway, shopping centers, the strip, and 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: Paradise

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280kPrice in $112k296k

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

Neighborhood: Paradise

NeighborhoodNIR Market*CityMarket2010Year20002019 Q211001150120012501300135014001450150015501600Rent in $10761606

* 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
Louis Wiener Jr Elementary School Primary Regular 701 39 7
Jack L. Schofield Middle School Middle Regular 1,332 51 NA
Silverado High School High Regular 2,263 94 5

Louis Wiener Jr Elementary School

  • Education Level: Primary
  • # of students: 701
  • # of teachers: 39
7
GreatSchools Rating

Jack L. Schofield Middle School

  • Education Level: Middle
  • # of students: 1,332
  • # of teachers: 51
NA
GreatSchools Rating

Silverado High School

  • Education Level: High
  • # of students: 2,263
  • # of teachers: 94
5
GreatSchools Rating
 

$396,000$484,000$440,000

PURCHASE PRICE

$1,881$2,299$2,090

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,090
EXPENSES Loan Payment -$1,623
Property Tax -$257
Property Insurance -$77
Property Management Fees -$119
CASH FLOW
$14

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.

$440,000

PROJECTED PRICE

$2,090

PROJECTED RENT

0.48%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.96%
Appreciation Year (1-5) 9.4%
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$1.4M$1.6M

PROJECTED ANNUAL CASH FLOW

11530$0.0$5.0k$10k$15k$20k$25k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$122,350

INVESTMENT

$122,350

Down Payment
$110,000
Rehab Estimate
$5,750
Closing Costs
$6,600

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,623

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $110,000
Loan Amount $330,000
See What Happens When You Reinvest Cash Flow

6.17

YEARS SAVED

$36,520

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,090

    LIST RENT
  • $0.82

    LIST RENT PER SQFT
  • $2,165

    COMP ESTIMATED VALUE
  • $0.85

    COMP AVG. RENT PER SQFT
Comps Range
$1,950
1$1,9502$1,9953$2,0904$2,2255$2,400
$2,400
RENT COMPS ANALYSIS
  • 654 Ravenglen Drive Las Vegas, NV 3
    • 4 beds 2 baths ∙ 2,554 Sqft ∙ Built 1991 4 beds 2 baths ∙ 2,554 Sqft ∙ Built 1991
    • Rent
    • Rent Per SQFT
    •  
    • $2,090
    • $0.82
    •  
  • 8019 Skywall Las Vegas, NV 1
    • 4 beds 3 baths ∙ 2,329 Sqft ∙ Built 1991 4 beds 3 baths ∙ 2,329 Sqft ∙ Built 1991
    LEASED 06/25/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $0.84
    •  
  • 7734 Locke Haven Drive Las Vegas, NV 2
    • 4 beds 3 baths ∙ 2,539 Sqft ∙ Built 1994 4 beds 3 baths ∙ 2,539 Sqft ∙ Built 1994
    LEASED 05/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,995
    • $0.79
    •  
  • 7771 Locke Haven Drive Las Vegas, NV 4
    • 4 beds 2 baths ∙ 2,559 Sqft ∙ Built 1994 4 beds 2 baths ∙ 2,559 Sqft ∙ Built 1994
    LEASED 06/25/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,225
    • $0.87
    •  
  • 7396 Cobblefield Street #n/a Las Vegas, NV 5
    • 4 beds 3 baths ∙ 2,700 Sqft ∙ Built 1996 4 beds 3 baths ∙ 2,700 Sqft ∙ Built 1996
    LEASED 08/20/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,400
    • $0.89
    •  
PROPERTY LISTING DETAILS
Juan Lopez
1.702.420.2440
Keller Williams Market Place
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2256413
Last Updated: 12/17/2020
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