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7048 Shire Ridge Avenue Las Vegas, NV 89131

4 Beds 3 Baths 3,018 sqft Built 2018

$699,999

List Price

$2,540

$2.3K - $2.8K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 06, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2018
  • Price/Sqft : $231.94
  • 3 Days on Market
  • MLS # : 2276393
  • Updated Date : 03/06/2021 at 05:03
CONSTRUCTION
  • Beds : 4
  • Floor Size : 3,018 sqft
  • Baths : 3 full
Listing Agent

Huntington & Ellis, A Real Est

Listing Agent's Description

Curb Appeal! This lovely open concept 4-bedroom single-story home is located in the Northwest community of Elkhorn Ridge & features a sparkling pool & spa, oversized 3-car garage and mountain views from the backyard! Splendid kitchen looks out to formal dining room, complete with oversized island, granite countertops, stainless steel appliances and Electrolux fridge, stovetop pot filler, and Osmosis water at the kitchen sink. All bedrooms are appointed with large walk-in closets. Recessed lighting and upgraded tile flooring throughout, giving a modern yet heart-warming feeling. The primary suite bathroom has dual vanities, large glass-walled walk-in shower, and separate ‘garden tub’ style bath. Backyard oasis with mature landscaping, covered patio, and like brand new built-in BBQ. RV parking space allowed. Solar panels installed. Garage features the largest DR Horton garage model available, with overhead storage racks & an 8,000 lbs capacity car lift. Ready for its new owners!

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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)

PRICE & RENT TRENDS

Neighborhood: Centennial Hills

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320k340k360kPrice in $119k362k

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

Neighborhood: Centennial Hills

NeighborhoodNIR Market*CityMarket2010Year20002019 Q211001200130014001500160017001800Rent in $10761875

* 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
Betsey Rhodes Elementary School Primary Regular 664 36 8
Ralph Cadwallader Middle School Middle Regular 1,480 63 NA
Arbor View High School High Regular 2,878 116 9

Betsey Rhodes Elementary School

  • Education Level: Primary
  • # of students: 664
  • # of teachers: 36
8
GreatSchools Rating

Ralph Cadwallader Middle School

  • Education Level: Middle
  • # of students: 1,480
  • # of teachers: 63
NA
GreatSchools Rating

Arbor View High School

  • Education Level: High
  • # of students: 2,878
  • # of teachers: 116
9
GreatSchools Rating
 

$629,999$769,999$699,999

PURCHASE PRICE

$2,286$2,794$2,540

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,540
EXPENSES Loan Payment -$2,431
Property Tax -$662
Property Insurance -$86
Property Management Fees -$119
CASH FLOW
-$758

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.

$699,999

PROJECTED PRICE

$2,540

PROJECTED RENT

0.36%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.05%
Appreciation Year (1-5) 10.3%
Maintenance Year (1-5) 8.00%
Vacancy 7.57%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$500k$1.0M$1.5M$2.0M$2.5M

PROJECTED ANNUAL CASH FLOW

11530-$15k-$10k-$5.0k$0.0$5.0k$10k$15k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$500k$1.0M$1.5M$2.0M$2.5M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$191,250

INVESTMENT

$191,250

Down Payment
$175,000
Rehab Estimate
$5,750
Closing Costs
$10,500

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 65% down payment or higher enables the proceeds from the asset to cover all costs.

$2,431

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $175,000
Loan Amount $524,999
See What Happens When You Reinvest Cash Flow

0.67

YEARS SAVED

$1,689

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,540

    LIST RENT
  • $0.84

    LIST RENT PER SQFT
  • $2,595

    COMP ESTIMATED VALUE
  • $0.86

    COMP AVG. RENT PER SQFT
Comps Range
$2,495
1$2,4952$2,5003$2,5404$2,6005$2,995
$2,995
RENT COMPS ANALYSIS
  • 7048 Shire Ridge Avenue Las Vegas, NV 3
    • 4 beds 3 baths ∙ 3,018 Sqft ∙ Built 2018 4 beds 3 baths ∙ 3,018 Sqft ∙ Built 2018
    • Rent
    • Rent Per SQFT
    •  
    • $2,540
    • $0.84
    •  
  • 8232 Deer Springs Way Las Vegas, NV 1
    • 4 beds 3 baths ∙ 3,184 Sqft ∙ Built 1998 4 beds 3 baths ∙ 3,184 Sqft ∙ Built 1998
    LEASED 02/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,495
    • $0.78
    •  
  • 7727 Villa Del Mar Avenue Las Vegas, NV 2
    • 3 beds 3 baths ∙ 2,808 Sqft ∙ Built 2003 3 beds 3 baths ∙ 2,808 Sqft ∙ Built 2003
    LEASED 09/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $0.89
    •  
  • 5863 Gushing Spring Avenue Las Vegas, NV 4
    • 4 beds 3 baths ∙ 2,991 Sqft ∙ Built 2002 4 beds 3 baths ∙ 2,991 Sqft ∙ Built 2002
    LEASED 10/18/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,600
    • $0.87
    •  
  • 6613 Grand Stand Avenue Las Vegas, NV 5
    • 4 beds 3 baths ∙ 3,345 Sqft ∙ Built 2003 4 beds 3 baths ∙ 3,345 Sqft ∙ Built 2003
    LEASED 09/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,995
    • $0.90
    •  
PROPERTY LISTING DETAILS
Craig Tann
1.702.956.3036
Huntington & Ellis, A Real Est
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2276393
Last Updated: 03/06/2021
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