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683 Ambling Gait Avenue Henderson, NV 89015

3 Beds 3 Baths 1,523 sqft Built 1999

INVESTimate

$226,500

List Price

$1,360

$1,224 - $1,496

Rent Est.

$251,007  ( +10.82%)   1 YR EST. FORECAST

PROPERTY INFO

80% chance this property will be sold within the next 20 days HOT INVESTMENT
FACTS
  • Built In 1999
  • Price/Sqft : $148.72
  • 19 Days on Market
  • MLS # : 2220322
  • Updated Date : 08/20/2020 at 02:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,523 sqft
  • Baths : 2 full , 1 half
Listing Agent

Avalon Realty & Oaktree Mgmt

Listing Agent's Description

Beautiful 3 bedroom 2.5 bathroom townhouse with private courtyard located in Henderson. Living room has carpet flooring and features a cozy gas burning fireplace. Laundry room right off the kitchen, all bedrooms and 2 full bathrooms located upstairs. Spacious master bedroom, master bath features shower/tub combo with a garden tub perfect for relaxing after a long day. Carpet flooring throughout upstairs. Community features a sparkling pool and picnic area, close to shopping and dining. ** Pictures were taken prior to tenant moving in.**

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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)

PRICE & RENT TRENDS

Neighborhood: River Mountain

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340k360kPrice in $123k362k

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

Neighborhood: River Mountain

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2100011001200130014001500160017001800Rent in $9911875

* 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
Sue Morrow Elementary School Primary Regular 734 38 9
B. Mahlon Brown Junior High School Middle Regular 978 46 NA
Basic High School High Regular 2,367 100 3

Sue Morrow Elementary School

  • Education Level: Primary
  • # of students: 734
  • # of teachers: 38
9
GreatSchools Rating

B. Mahlon Brown Junior High School

  • Education Level: Middle
  • # of students: 978
  • # of teachers: 46
NA
GreatSchools Rating

Basic High School

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

$203,850$249,150$226,500

PURCHASE PRICE

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

RENT

DOWN PAYMENT
FINANCING

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$200k$400k$600k$800k$1.0M

PROJECTED ANNUAL CASH FLOW

11530$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$100k$200k$300k$400k$500k$600k$700k$800k

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,360
EXPENSES Loan Payment -$836
Property Tax -$140
Property Insurance -$57
HOA -$115
Property Management Fees -$119
CASH FLOW
$93

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.

$226,500

PROJECTED PRICE

$1,360

PROJECTED RENT

0.60%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.05%
Appreciation Year (1-5) 10.82%
Maintenance Year (1-5) 8.00%
Vacancy 7.57%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$65,773

INVESTMENT

$65,773

Down Payment
$56,625
Rehab Estimate
$5,750
Closing Costs
$3,398

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$836

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $56,625
Loan Amount $169,875
See What Happens When You Reinvest Cash Flow

7.75

YEARS SAVED

$26,633

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
  • $0.89

    LIST RENT PER SQFT
  • $1,477

    COMP ESTIMATED VALUE
  • $0.97

    COMP AVG. RENT PER SQFT
Comps Range
$1,360
1$1,3602$1,4503$1,4504$1,5505$1,645
$1,645
RENT COMPS ANALYSIS
  • 683 Ambling Gait Avenue Henderson, NV 1
    • 3 beds 3 baths ∙ 1,523 Sqft ∙ Built 1999 3 beds 3 baths ∙ 1,523 Sqft ∙ Built 1999
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,360
    • $0.89
    •  
  • 672 Barbary Coast Henderson, NV 2
    • 3 beds 3 baths ∙ 1,523 Sqft ∙ Built 1999 3 beds 3 baths ∙ 1,523 Sqft ∙ Built 1999
    property image
    LEASED 06/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $0.95
    •  
  • 691 Ambling Gait Avenue Henderson, NV 3
    • 3 beds 3 baths ∙ 1,523 Sqft ∙ Built 1997 3 beds 3 baths ∙ 1,523 Sqft ∙ Built 1997
    property image
    LEASED 08/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $0.95
    •  
  • 617 Wood Rose Court Henderson, NV 4
    • 3 beds 3 baths ∙ 1,623 Sqft ∙ Built 1997 3 beds 3 baths ∙ 1,623 Sqft ∙ Built 1997
    property image
    LEASED 08/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $0.96
    •  
  • 973 Broken Reed Henderson, NV 5
    • 3 beds 2 baths ∙ 1,618 Sqft ∙ Built 1997 3 beds 2 baths ∙ 1,618 Sqft ∙ Built 1997
    property image
    LEASED 05/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,645
    • $1.02
    •  
PROPERTY LISTING DETAILS
Bonnie B Barberini
1.702.274.4604
Avalon Realty & Oaktree Mgmt
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2220322
Last Updated: 08/20/2020
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