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8213 Cimarron Ridge Drive Las Vegas, NV 89128

4 Beds 2 Baths 1,409 sqft Built 1993

$310,000

List Price

$1,480

$1.3K - $1.6K

Rent Est.

PROPERTY INFO

February 11, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1993
  • Price/Sqft : $220.01
  • 4 Days on Market
  • MLS # : 2269223
  • Updated Date : 02/12/2021 at 21:52
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,409 sqft
  • Baths : 1 full , 1 half
Listing Agent

Bhhs Nevada Properties

Listing Agent's Description

Great two story home near Summerlin but with no HOA! This four bedroom home won't last long! Ceramic tile flooring downstairs and laminate wood upstairs. Mirrored closet doors in bedrooms. Nice kitchen with stainless steel stove, microwave and pantry. Backyard paradise with covered patio, inground pool and above ground spa. Convenient access to schools, shopping and freeway!

SEE MORE

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: Pioneer Park

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260k280kPrice in $84k296k

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

Neighborhood: Pioneer Park

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21000105011001150120012501300135014001450150015501600Rent in $9551606

* 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
Edythe And Lloyd Katz Elementary School Primary Regular 711 36 4
Walter Johnson Junior High School Middle Regular 1,102 50 NA
Palo Verde High School High Regular 3,024 114 9

Edythe And Lloyd Katz Elementary School

  • Education Level: Primary
  • # of students: 711
  • # of teachers: 36
4
GreatSchools Rating

Walter Johnson Junior High School

  • Education Level: Middle
  • # of students: 1,102
  • # of teachers: 50
NA
GreatSchools Rating

Palo Verde High School

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

$279,000$341,000$310,000

PURCHASE PRICE

$1,332$1,628$1,480

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,480
EXPENSES Loan Payment -$1,077
Property Tax -$186
Property Insurance -$55
Property Management Fees -$119
CASH FLOW
$44

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.

$310,000

PROJECTED PRICE

$1,480

PROJECTED RENT

0.48%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.96%
Appreciation Year (1-5) 11.5%
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

PROJECTED ANNUAL CASH FLOW

11530$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$87,900

INVESTMENT

$87,900

Down Payment
$77,500
Rehab Estimate
$5,750
Closing Costs
$4,650

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 45% down payment or higher enables the proceeds from the asset to cover all costs.

$1,077

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $77,500
Loan Amount $232,500
See What Happens When You Reinvest Cash Flow

6.58

YEARS SAVED

$24,186

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,480

    LIST RENT
  • $1.05

    LIST RENT PER SQFT
  • $1,437

    COMP ESTIMATED VALUE
  • $1.02

    COMP AVG. RENT PER SQFT
Comps Range
$1,395
1$1,3952$1,4003$1,4504$1,4805$1,500
$1,500
RENT COMPS ANALYSIS
  • 8213 Cimarron Ridge Drive Las Vegas, NV 4
    • 4 beds 2 baths ∙ 1,409 Sqft ∙ Built 1993 4 beds 2 baths ∙ 1,409 Sqft ∙ Built 1993
    • Rent
    • Rent Per SQFT
    •  
    • $1,480
    • $1.05
    •  
  • 1428 Spice Sky Drive Las Vegas, NV 1
    • 3 beds 2 baths ∙ 1,434 Sqft ∙ Built 1992 3 beds 2 baths ∙ 1,434 Sqft ∙ Built 1992
    LEASED 03/26/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,395
    • $0.97
    •  
  • 8124 Hercules Drive Las Vegas, NV 2
    • 3 beds 2 baths ∙ 1,332 Sqft ∙ Built 1994 3 beds 2 baths ∙ 1,332 Sqft ∙ Built 1994
    LEASED 08/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,400
    • $1.05
    •  
  • 8213 Hydra Lane #0 Las Vegas, NV 3
    • 3 beds 3 baths ∙ 1,433 Sqft ∙ Built 1992 3 beds 3 baths ∙ 1,433 Sqft ∙ Built 1992
    LEASED 02/10/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $1.01
    •  
  • 8241 Hydra Lane Las Vegas, NV 5
    • 3 beds 3 baths ∙ 1,434 Sqft ∙ Built 1992 3 beds 3 baths ∙ 1,434 Sqft ∙ Built 1992
    LEASED 09/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $1.05
    •  
PROPERTY LISTING DETAILS
Frank Napoli
1.702.405.3080
Bhhs Nevada Properties
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2269223
Last Updated: 02/12/2021
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