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7585 Ironwood Knoll Avenue Las Vegas, NV 89113

4 Beds 3 Baths 3,360 sqft Built 2003

$598,000

List Price

$2,440

$2.2K - $2.7K

Rent Est.

PROPERTY INFO

November 03, 2020 RECENTLY ADDED
FACTS
  • Built In 2003
  • Price/Sqft : $177.98
  • 2 Days on Market
  • MLS # : 2244233
  • Updated Date : 11/02/2020 at 18:11
CONSTRUCTION
  • Beds : 4
  • Floor Size : 3,360 sqft
  • Baths : 3 full
Listing Agent

Apex Realty Llc

Listing Agent's Description

2-story corner lot home in Nevada Trails. Kitchen includes island, granite counters, tile backsplash, and all appliances. Family includes fireplace and ceiling fan. Master includes dressing room. Backyard is beautifully landscaped. 4 bedrooms + large office with doors. Wonderful Southwest location near major stores, restaurants, and the freeway.

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: Nevada Trails

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450k500kPrice in $119k520k

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

Neighborhood: Nevada Trails

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21100120013001400150016001700180019002000Rent in $10762069

* 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
Judi D. Steele Elementary School Primary Regular 858 43 8
Lawrence And Heidi Canarelli Middle School Middle Regular 1,802 70 NA
Sierra Vista High School High Regular 2,396 88 4

Judi D. Steele Elementary School

  • Education Level: Primary
  • # of students: 858
  • # of teachers: 43
8
GreatSchools Rating

Lawrence And Heidi Canarelli Middle School

  • Education Level: Middle
  • # of students: 1,802
  • # of teachers: 70
NA
GreatSchools Rating

Sierra Vista High School

  • Education Level: High
  • # of students: 2,396
  • # of teachers: 88
4
GreatSchools Rating
 

$538,200$657,800$598,000

PURCHASE PRICE

$2,196$2,684$2,440

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,440
EXPENSES Loan Payment -$2,206
Property Tax -$345
Property Insurance -$92
Property Management Fees -$119
CASH FLOW
-$322

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.

$598,000

PROJECTED PRICE

$2,440

PROJECTED RENT

0.41%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.05%
Appreciation Year (1-5) 5.5%
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-$5.0k$0.0$5.0k$10k$15k$20k$25k

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$164,220

INVESTMENT

$164,220

Down Payment
$149,500
Rehab Estimate
$5,750
Closing Costs
$8,970

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$2,206

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $149,500
Loan Amount $448,500
See What Happens When You Reinvest Cash Flow

3.42

YEARS SAVED

$20,126

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,440

    LIST RENT
  • $0.73

    LIST RENT PER SQFT
  • $2,839

    COMP ESTIMATED VALUE
  • $0.85

    COMP AVG. RENT PER SQFT
Comps Range
$2,440
1$2,4402$2,5003$2,7504$2,9005$3,000
$3,000
RENT COMPS ANALYSIS
  • 7585 Ironwood Knoll Avenue Las Vegas, NV 1
    • 4 beds 3 baths ∙ 3,360 Sqft ∙ Built 2003 4 beds 3 baths ∙ 3,360 Sqft ∙ Built 2003
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,440
    • $0.73
    •  
  • 7523 Townsville Avenue Las Vegas, NV 2
    • 4 beds 4 baths ∙ 3,302 Sqft ∙ Built 2006 4 beds 4 baths ∙ 3,302 Sqft ∙ Built 2006
    property image
    LEASED 03/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $0.76
    •  
  • 7428 Laramie Las Vegas, NV 3
    • 4 beds 2 baths ∙ 3,361 Sqft ∙ Built 2004 4 beds 2 baths ∙ 3,361 Sqft ∙ Built 2004
    property image
    LEASED 05/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,750
    • $0.82
    •  
  • 7869 Salt Spray Court Las Vegas, NV 4
    • 5 beds 3 baths ∙ 3,257 Sqft ∙ Built 2001 5 beds 3 baths ∙ 3,257 Sqft ∙ Built 2001
    property image
    LEASED 08/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,900
    • $0.89
    •  
  • 7897 Salt Spray Court #0 Las Vegas, NV 5
    • 5 beds 3 baths ∙ 3,314 Sqft ∙ Built 2001 5 beds 3 baths ∙ 3,314 Sqft ∙ Built 2001
    property image
    LEASED 10/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,000
    • $0.91
    •  
PROPERTY LISTING DETAILS
Lesley M Chan
1.702.785.4488
Apex Realty Llc
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2244233
Last Updated: 11/02/2020
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