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83 Newton Ridge Way Las Vegas, NV 89183

4 Beds 3 Baths 2,779 sqft Built 2017

$529,900

List Price

$2,150

$1.9K - $2.4K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 12, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2017
  • Price/Sqft : $190.68
  • 3 Days on Market
  • MLS # : 2278179
  • Updated Date : 03/12/2021 at 21:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,779 sqft
  • Baths : 3 full
Listing Agent

Rustic Properties

Listing Agent's Description

FULLY RENOVATED 4 BEDROOM DREAM HOME WITH 3 CAR GARAGE IN EXCLUSIVE GATED COMMUNITY!!! This home has it all: ALL NEW interior paint, ALL NEW carpet, ALL NEW high end SS appliances, GRANITE counters, TILE FLOORS throughout, FULLY RENOVATED landscape and SO MUCH MORE!!! Floor plan features include HUGE open kitchen with island, downstairs bed with full bath, 3 car garage, concrete patio, EXPANSIVE master suite, upstairs laundry, THE LIST GOES ON!! YOU HAVE TO SEE THIS ONE TO BELIEVE IT!!

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: Enterprise

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320k340k360kPrice in $119k362k

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

Neighborhood: Enterprise

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2100011001200130014001500160017001800Rent in $9981875

* 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
Steve Schorr Elementary School Primary Regular 1,042 54 7
Del E Webb Middle School Middle Regular 1,863 74 NA
Liberty High School High Regular 2,496 105 5

Steve Schorr Elementary School

  • Education Level: Primary
  • # of students: 1,042
  • # of teachers: 54
7
GreatSchools Rating

Del E Webb Middle School

  • Education Level: Middle
  • # of students: 1,863
  • # of teachers: 74
NA
GreatSchools Rating

Liberty High School

  • Education Level: High
  • # of students: 2,496
  • # of teachers: 105
5
GreatSchools Rating
 

$476,910$582,890$529,900

PURCHASE PRICE

$1,935$2,365$2,150

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,150
EXPENSES Loan Payment -$1,841
Property Tax -$341
Property Insurance -$81
Property Management Fees -$119
CASH FLOW
-$231

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.

$529,900

PROJECTED PRICE

$2,150

PROJECTED RENT

0.41%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.05%
Appreciation Year (1-5) 9.8%
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

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$146,174

INVESTMENT

$146,174

Down Payment
$132,475
Rehab Estimate
$5,750
Closing Costs
$7,949

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,841

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $132,475
Loan Amount $397,425
See What Happens When You Reinvest Cash Flow

3.58

YEARS SAVED

$16,708

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,150

    LIST RENT
  • $0.77

    LIST RENT PER SQFT
  • $2,175

    COMP ESTIMATED VALUE
  • $0.78

    COMP AVG. RENT PER SQFT
Comps Range
$1,895
1$1,8952$1,9953$2,1504$2,4005$2,425
$2,425
RENT COMPS ANALYSIS
  • 83 Newton Ridge Way Las Vegas, NV 3
    • 4 beds 3 baths ∙ 2,779 Sqft ∙ Built 2017 4 beds 3 baths ∙ 2,779 Sqft ∙ Built 2017
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,150
    • $0.77
    •  
  • 11662 Elianto Street Las Vegas, NV 1
    • 5 beds 3 baths ∙ 2,774 Sqft ∙ Built 2004 5 beds 3 baths ∙ 2,774 Sqft ∙ Built 2004
    property image
    LEASED 12/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,895
    • $0.68
    •  
  • 11744 San Rossore Court Las Vegas, NV 2
    • 4 beds 3 baths ∙ 2,774 Sqft ∙ Built 2002 4 beds 3 baths ∙ 2,774 Sqft ∙ Built 2002
    property image
    LEASED 11/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,995
    • $0.72
    •  
  • 84 Kaku Ridge Way Las Vegas, NV 4
    • 5 beds 3 baths ∙ 2,633 Sqft ∙ Built 2017 5 beds 3 baths ∙ 2,633 Sqft ∙ Built 2017
    property image
    LEASED 11/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,400
    • $0.91
    •  
  • 11408 Van Brook Street Las Vegas, NV 5
    • 5 beds 3 baths ∙ 2,943 Sqft ∙ Built 2016 5 beds 3 baths ∙ 2,943 Sqft ∙ Built 2016
    property image
    LEASED 03/11/21
    • Rent
    • Rent Per SQFT
    •  
    • $2,425
    • $0.82
    •  
PROPERTY LISTING DETAILS
Noah Bates
1.702.551.4381
Rustic Properties
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2278179
Last Updated: 03/12/2021
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