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70 Hawking Ridge Way Las Vegas, NV 89183

3 Beds 2 Baths 2,144 sqft Built 2017

INVESTimate

$449,000

List Price

$1,890

$1,701 - $2,079

Rent Est.

$492,957  ( +9.79%)   1 YR EST. FORECAST

PROPERTY INFO

August 22, 2020 RECENTLY ADDED
FACTS
  • Built In 2017
  • Price/Sqft : $209.42
  • 6 Days on Market
  • MLS # : 2224067
  • Updated Date : 08/25/2020 at 15:31
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,144 sqft
  • Baths : 2 full
Listing Agent

West Capital Real Estate & Inv

Listing Agent's Description

Immaculate like new 1 Story, only 2 years old. Owner left nothing undone! Home sits near the end of a quiet cul de sac. Highly upgraded throughout. Big kitchen and large island with bar stools for gathering and entertaining. Pull-out shelves in all kitchen cabinets. Granite countertops, Added custom kitchen cabinets, pantry and desk. Remodeled master bath with custom glass enclosure. Extended master bedroom taking advantage of extra sqft. Extra shelving in all closets to add storage. Complete outdoor living space with full patio cover, added electrical, pavers and synthetic grass for low maintenance yard. Epoxy garage floor custom cabinets/bench and even a ceiling fan. Whole home water filtration system. Home is ready for move in.

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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
Steve Schorr Elementary School Primary Regular 1,042 54 7
Del E Webb Middle School Middle Regular 1,863 74 NA
Liberty High School High Regular 2,496 105 5

Steve Schorr Elementary School

  • Education Level: Primary
  • # of students: 1,042
  • # of teachers: 54
7
GreatSchools Rating

Del E Webb Middle School

  • Education Level: Middle
  • # of students: 1,863
  • # of teachers: 74
NA
GreatSchools Rating

Liberty High School

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

$404,100$493,900$449,000

PURCHASE PRICE

$1,701$2,079$1,890

RENT

DOWN PAYMENT
FINANCING

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-$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$1.4M$1.6M

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,890
EXPENSES Loan Payment -$1,657
Property Tax -$320
Property Insurance -$69
HOA -$70
Property Management Fees -$119
CASH FLOW
-$344

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.

$449,000

PROJECTED PRICE

$1,890

PROJECTED RENT

0.42%

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$124,735

INVESTMENT

$124,735

Down Payment
$112,250
Rehab Estimate
$5,750
Closing Costs
$6,735

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,657

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $112,250
Loan Amount $336,750
See What Happens When You Reinvest Cash Flow

2.17

YEARS SAVED

$7,785

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,890

    LIST RENT
  • $0.88

    LIST RENT PER SQFT
  • $1,742

    COMP ESTIMATED VALUE
  • $0.81

    COMP AVG. RENT PER SQFT
Comps Range
$1,600
1$1,6002$1,6753$1,8904$1,9955$2,000
$2,000
RENT COMPS ANALYSIS
  • 70 Hawking Ridge Way Las Vegas, NV 3
    • 3 beds 2 baths ∙ 2,144 Sqft ∙ Built 2017 3 beds 2 baths ∙ 2,144 Sqft ∙ Built 2017
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,890
    • $0.88
    •  
  • 11587 Rubino Street Las Vegas, NV 1
    • 4 beds 3 baths ∙ 1,993 Sqft ∙ Built 2004 4 beds 3 baths ∙ 1,993 Sqft ∙ Built 2004
    property image
    LEASED 08/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $0.80
    •  
  • 11570 Vesuvio Court Las Vegas, NV 2
    • 4 beds 3 baths ∙ 2,297 Sqft ∙ Built 2005 4 beds 3 baths ∙ 2,297 Sqft ∙ Built 2005
    property image
    LEASED 04/25/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,675
    • $0.73
    •  
  • 11310 Castor Street Las Vegas, NV 4
    • 3 beds 3 baths ∙ 2,323 Sqft ∙ Built 2016 3 beds 3 baths ∙ 2,323 Sqft ∙ Built 2016
    property image
    LEASED 08/23/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,995
    • $0.86
    •  
  • 11322 Castor Street Las Vegas, NV 5
    • 3 beds 3 baths ∙ 2,323 Sqft ∙ Built 2017 3 beds 3 baths ∙ 2,323 Sqft ∙ Built 2017
    property image
    LEASED 07/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $0.86
    •  
PROPERTY LISTING DETAILS
John P Knowlton
1.702.338.3307
West Capital Real Estate & Inv
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2224067
Last Updated: 08/25/2020
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