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705 Ravenglen Drive Las Vegas, NV 89123

4 Beds 2 Baths 3,433 sqft Built 1991

$485,000

List Price

$2,450

$2.2K - $2.7K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
February 21, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1991
  • Price/Sqft : $141.28
  • 2 Days on Market
  • MLS # : 2271586
  • Updated Date : 02/21/2021 at 04:32
CONSTRUCTION
  • Beds : 4
  • Floor Size : 3,433 sqft
  • Baths : 2 full
Listing Agent

Keller Williams Market Place

Listing Agent's Description

*AMAZING HOME LOCATED ON LARGE LOT IN WELL DESIRED AREA*NEW WOOD LIKE TILE DOWNSTAIRS*LUXURY VINYL IN UPSTAIRS BATH WITH JETTED TUB*SPACIOUS MASTER BEDROOM WITH SITTING ROOM, PERFECT FOR HOME OFFICE OR NURSERY*MASTER BED WITH LARGE WALK IN CLOSET*SECURITY SYSTEM*KITCHEN HAS BEEN UPGRADED AND NEW FIXTURES*KITCHEN HAS BREAKFAST BAR/EATING NOOK, GARDEN WINDOW, GRANITE COUNTERTOPS, ISLAND, RECESSED LIGHTING, PANTRY, TILE FLOORING, AND WALK IN PANTRY*BLACK OUT SHADES*BEAUTIFUL STONE FIREPLACE THAT IS WOOD BURNING IN FAMILY ROOM*SHOE STORAGE BUILT IN TO THE STAIRS*NEW BASEBOARDS THROUGHOUT*REAL GRASS IN BACKYARD*COVERED PATIO*GARAGE HAS STORAGE AREA/SHELVES AND WORKSHOP BENCH AREA*HOME IS NEAR SHOPPING AND DINING AND AIRPORT*

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: 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
 

$436,500$533,500$485,000

PURCHASE PRICE

$2,205$2,695$2,450

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,450
EXPENSES Loan Payment -$1,685
Property Tax -$281
Property Insurance -$94
Property Management Fees -$119
CASH FLOW
$271

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.

$485,000

PROJECTED PRICE

$2,450

PROJECTED RENT

0.51%

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$500k$1.0M$1.5M$2.0M

PROJECTED ANNUAL CASH FLOW

11530$0.0$5.0k$10k$15k$20k$25k$30k

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$134,275

INVESTMENT

$134,275

Down Payment
$121,250
Rehab Estimate
$5,750
Closing Costs
$7,275

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 40% down payment or higher enables the proceeds from the asset to cover all costs.

$1,685

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $121,250
Loan Amount $363,750
See What Happens When You Reinvest Cash Flow

8.67

YEARS SAVED

$58,183

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,450

    LIST RENT
  • $0.71

    LIST RENT PER SQFT
  • $2,858

    COMP ESTIMATED VALUE
  • $0.83

    COMP AVG. RENT PER SQFT
Comps Range
$2,450
1$2,4502$2,6003$2,9504$3,2005$3,200
$3,200
RENT COMPS ANALYSIS
  • 705 Ravenglen Drive Las Vegas, NV 1
    • 4 beds 2 baths ∙ 3,433 Sqft ∙ Built 1991 4 beds 2 baths ∙ 3,433 Sqft ∙ Built 1991
    • Rent
    • Rent Per SQFT
    •  
    • $2,450
    • $0.71
    •  
  • 804 Apperson Circle Las Vegas, NV 2
    • 4 beds 2 baths ∙ 3,433 Sqft ∙ Built 1993 4 beds 2 baths ∙ 3,433 Sqft ∙ Built 1993
    LEASED 02/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,600
    • $0.76
    •  
  • 7676 Rancho Destino Las Vegas, NV 3
    • 4 beds 4 baths ∙ 3,758 Sqft ∙ Built 1980 4 beds 4 baths ∙ 3,758 Sqft ∙ Built 1980
    LEASED 05/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,950
    • $0.78
    •  
  • 7611 Cougar Creek Circle Las Vegas, NV 4
    • 5 beds 2 baths ∙ 3,433 Sqft ∙ Built 1991 5 beds 2 baths ∙ 3,433 Sqft ∙ Built 1991
    LEASED 01/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,200
    • $0.93
    •  
  • 579 Pala Mesa Court Las Vegas, NV 5
    • 4 beds 3 baths ∙ 3,707 Sqft ∙ Built 2007 4 beds 3 baths ∙ 3,707 Sqft ∙ Built 2007
    LEASED 05/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,200
    • $0.86
    •  
PROPERTY LISTING DETAILS
Richard J Brenkus
1.702.456.5959
Keller Williams Market Place
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2271586
Last Updated: 02/21/2021
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