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717 Point Ridge Place Las Vegas, NV 89145

3 Beds 2 Baths 2,235 sqft Built 2001

$559,999

List Price

$2,070

$1.9K - $2.3K

Rent Est.

PROPERTY INFO

November 06, 2020 RECENTLY ADDED
FACTS
  • Built In 2001
  • Price/Sqft : $250.56
  • 3 Days on Market
  • MLS # : 2246078
  • Updated Date : 11/06/2020 at 15:30
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,235 sqft
  • Baths : 2 full
Listing Agent

Life Realty District

Listing Agent's Description

WOW*Absolutely Gorgeous Remodeled Single Story Home*Fabulous Gated Summerlin Neighborhood*Custom High-end Kitchen*Massive Custom Kitchen Island*Custom Designer Cabinets*Custom Designer Counter-tops*High-end Stainless Appliances*Glass Tile Backsplash*Builtin Wine Fridge*Wood-like Floors*Designer Fixtures and Lighting*Custom Stone Bathrooms*In Ceiling Speakers Throughout Home*2 Tone Paint*Soft Close Cabinets*Fireplace*Custom Window Treatments*Upgraded Baseboards*Fridge Included*Washer/Dryer Included*Custom Garage Doors*Alarm*Builtin Garage Cabinets*Finished Garage Floors*Fully Landscaped*Master Closet Organizer*Overmount Sinks*Upgraded Double Door Entry*House Is SUPER SUPER Clean*Buyer To Verify All Info*

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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)

PRICE & RENT TRENDS

Neighborhood: The Arbors

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320k340k360kPrice in $119k362k

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

Neighborhood: The Arbors

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
John W. Bonner Elementary School Primary Regular 859 47 10
Sig Rogich Middle School Middle Regular 1,845 70 NA
Palo Verde High School High Regular 3,024 114 9

John W. Bonner Elementary School

  • Education Level: Primary
  • # of students: 859
  • # of teachers: 47
10
GreatSchools Rating

Sig Rogich Middle School

  • Education Level: Middle
  • # of students: 1,845
  • # of teachers: 70
NA
GreatSchools Rating

Palo Verde High School

  • Education Level: High
  • # of students: 3,024
  • # of teachers: 114
9
GreatSchools Rating
 

$503,999$615,999$559,999

PURCHASE PRICE

$1,863$2,277$2,070

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,070
EXPENSES Loan Payment -$2,066
Property Tax -$350
Property Insurance -$70
Property Management Fees -$119
CASH FLOW
-$536

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.

$559,999

PROJECTED PRICE

$2,070

PROJECTED RENT

0.37%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.05%
Appreciation Year (1-5) 9.0%
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$200k$400k$600k$800k$1.0M$1.2M$1.4M$1.6M$1.8M

PROJECTED ANNUAL CASH FLOW

11530-$10k-$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$1.8M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$154,150

INVESTMENT

$154,150

Down Payment
$140,000
Rehab Estimate
$5,750
Closing Costs
$8,400

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,066

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $140,000
Loan Amount $419,999
See What Happens When You Reinvest Cash Flow

1.5

YEARS SAVED

$5,586

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,070

    LIST RENT
  • $0.93

    LIST RENT PER SQFT
  • $1,900

    COMP ESTIMATED VALUE
  • $0.85

    COMP AVG. RENT PER SQFT
Comps Range
$1,695
1$1,6952$1,8003$1,8004$2,0705$2,170
$2,170
RENT COMPS ANALYSIS
  • 717 Point Ridge Place Las Vegas, NV 4
    • 3 beds 2 baths ∙ 2,235 Sqft ∙ Built 2001 3 beds 2 baths ∙ 2,235 Sqft ∙ Built 2001
    • Rent
    • Rent Per SQFT
    •  
    • $2,070
    • $0.93
    •  
  • 10632 Esk Drive Las Vegas, NV 1
    • 3 beds 2 baths ∙ 2,230 Sqft ∙ Built 1999 3 beds 2 baths ∙ 2,230 Sqft ∙ Built 1999
    LEASED 12/03/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $0.76
    •  
  • 1312 Paraiso Street Las Vegas, NV 2
    • 4 beds 3 baths ∙ 2,086 Sqft ∙ Built 2000 4 beds 3 baths ∙ 2,086 Sqft ∙ Built 2000
    LEASED 02/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $0.86
    •  
  • 10636 Esk Las Vegas, NV 3
    • 3 beds 2 baths ∙ 2,230 Sqft ∙ Built 2000 3 beds 2 baths ∙ 2,230 Sqft ∙ Built 2000
    LEASED 04/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $0.81
    •  
  • 701 Point Ridge Place Las Vegas, NV 5
    • 3 beds 2 baths ∙ 2,235 Sqft ∙ Built 2000 3 beds 2 baths ∙ 2,235 Sqft ∙ Built 2000
    LEASED 12/30/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,170
    • $0.97
    •  
PROPERTY LISTING DETAILS
Roger Ayala
1.702.493.8484
Life Realty District
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2246078
Last Updated: 11/06/2020
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