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793 Cherry Hills Court Las Vegas, NV 89148

4 Beds 3 Baths 2,461 sqft Built 2014

$430,000

List Price

$1,880

$1.7K - $2.1K

Rent Est.

PROPERTY INFO

February 02, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2014
  • Price/Sqft : $174.73
  • 6 Days on Market
  • MLS # : 2266026
  • Updated Date : 02/02/2021 at 18:30
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,461 sqft
  • Baths : 3 full
Listing Agent

City Villa Realty & Management

Listing Agent's Description

Location in desirable southwest Rhodes Ranch golf course community: club house, resort style pool fitness center, water park ,racket , basketball indoor and outdoor. 2 story with 4 bedroom, 3 full bath with one bedroom and one bath downstairs. Granite counter tops and custom cabinets. Cover patio in the back yard. A nice home it won't last long....

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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: Rhodes Ranch

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320kPrice in $119k339k

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

Neighborhood: Rhodes Ranch

NeighborhoodNIR Market*CityMarket2010Year20002019 Q211001200130014001500160017001800Rent in $10551829

* 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
Don And Dee Snyder Elementary School Primary Unknown NA
Wilbur And Theresa Faiss Middle School Middle Regular 1,409 61 NA
Sierra Vista High School High Regular 2,396 88 4

Don And Dee Snyder Elementary School

  • Education Level: Primary
  • # of students:
  • # of teachers:
NA
GreatSchools Rating

Wilbur And Theresa Faiss Middle School

  • Education Level: Middle
  • # of students: 1,409
  • # of teachers: 61
NA
GreatSchools Rating

Sierra Vista High School

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

$387,000$473,000$430,000

PURCHASE PRICE

$1,692$2,068$1,880

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,880
EXPENSES Loan Payment -$1,494
Property Tax -$321
Property Insurance -$75
Property Management Fees -$119
CASH FLOW
-$129

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.

$430,000

PROJECTED PRICE

$1,880

PROJECTED RENT

0.44%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.96%
Appreciation Year (1-5) 8.8%
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$200k$400k$600k$800k$1.0M$1.2M$1.4M

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$119,700

INVESTMENT

$119,700

Down Payment
$107,500
Rehab Estimate
$5,750
Closing Costs
$6,450

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,494

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $107,500
Loan Amount $322,500
See What Happens When You Reinvest Cash Flow

4.17

YEARS SAVED

$16,794

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,880

    LIST RENT
  • $0.76

    LIST RENT PER SQFT
  • $1,833

    COMP ESTIMATED VALUE
  • $0.74

    COMP AVG. RENT PER SQFT
Comps Range
$1,811
1$1,8112$1,8253$1,8804$1,8915$1,950
$1,950
RENT COMPS ANALYSIS
  • 793 Cherry Hills Court Las Vegas, NV 3
    • 4 beds 3 baths ∙ 2,461 Sqft ∙ Built 2014 4 beds 3 baths ∙ 2,461 Sqft ∙ Built 2014
    • Rent
    • Rent Per SQFT
    •  
    • $1,880
    • $0.76
    •  
  • 210 Augusta Course Avenue Las Vegas, NV 1
    • 3 beds 3 baths ∙ 2,514 Sqft ∙ Built 2010 3 beds 3 baths ∙ 2,514 Sqft ∙ Built 2010
    LEASED 10/26/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,811
    • $0.72
    •  
  • 159 Castle Course Avenue Las Vegas, NV 2
    • 3 beds 3 baths ∙ 2,514 Sqft ∙ Built 2008 3 beds 3 baths ∙ 2,514 Sqft ∙ Built 2008
    LEASED 03/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,825
    • $0.73
    •  
  • 42 Augusta Course Avenue Las Vegas, NV 4
    • 3 beds 3 baths ∙ 2,514 Sqft ∙ Built 2010 3 beds 3 baths ∙ 2,514 Sqft ∙ Built 2010
    LEASED 10/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,891
    • $0.75
    •  
  • 162 Augusta Course Avenue Las Vegas, NV 5
    • 3 beds 3 baths ∙ 2,514 Sqft ∙ Built 2010 3 beds 3 baths ∙ 2,514 Sqft ∙ Built 2010
    LEASED 11/25/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $0.78
    •  
PROPERTY LISTING DETAILS
David Jiang
1.702.325.8599
City Villa Realty & Management
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2266026
Last Updated: 02/02/2021
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