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8408 River Ridge Drive Las Vegas, NV 89131

3 Beds 3 Baths 2,667 sqft Built 2004

$499,999

List Price

$1,940

$1.7K - $2.1K

Rent Est.

PROPERTY INFO

January 15, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2004
  • Price/Sqft : $187.48
  • 6 Days on Market
  • MLS # : 2261237
  • Updated Date : 01/15/2021 at 08:20
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,667 sqft
  • Baths : 2 full , 1 half
Listing Agent

Platinum R.e. Professionals

Listing Agent's Description

Lovely one story home in beautiful neighborhood. This 3 bedroom and 2 1/2 bathroom home is bright and roomy. Upgraded granite countertop kitchen with double built in ovens and a cooktop, built in microwave and walk in pantry! Prewired surround sound! Spacious primary with en suite bathroom featuring double vanities, separate tub and shower and huge walk-in closet. The backyard is perfect for hanging out and relaxing in the spa, or cooking at the built it BBQ area. Oversized 2 car garage! Security cameras will stay with property! Come see this now! It won't last long!

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: Silverstone Ranch

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320k340k360k380kPrice in $119k387k

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

Neighborhood: Silverstone Ranch

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
Thomas O'roarke Elementary School Primary Regular 817 42 9
Ralph Cadwallader Middle School Middle Regular 1,480 63 NA
Arbor View High School High Regular 2,878 116 9

Thomas O'roarke Elementary School

  • Education Level: Primary
  • # of students: 817
  • # of teachers: 42
9
GreatSchools Rating

Ralph Cadwallader Middle School

  • Education Level: Middle
  • # of students: 1,480
  • # of teachers: 63
NA
GreatSchools Rating

Arbor View High School

  • Education Level: High
  • # of students: 2,878
  • # of teachers: 116
9
GreatSchools Rating
 

$449,999$549,999$499,999

PURCHASE PRICE

$1,746$2,134$1,940

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,940
EXPENSES Loan Payment -$1,737
Property Tax -$350
Property Insurance -$79
Property Management Fees -$119
CASH FLOW
-$345

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.

$499,999

PROJECTED PRICE

$1,940

PROJECTED RENT

0.39%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.05%
Appreciation Year (1-5) 8.2%
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

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$1.6M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$138,250

INVESTMENT

$138,250

Down Payment
$125,000
Rehab Estimate
$5,750
Closing Costs
$7,500

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,737

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $125,000
Loan Amount $374,999
See What Happens When You Reinvest Cash Flow

2.33

YEARS SAVED

$8,088

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,940

    LIST RENT
  • $0.73

    LIST RENT PER SQFT
  • $1,974

    COMP ESTIMATED VALUE
  • $0.74

    COMP AVG. RENT PER SQFT
Comps Range
$1,795
1$1,7952$1,8253$1,8504$1,9405$2,100
$2,100
RENT COMPS ANALYSIS
  • 8408 River Ridge Drive Las Vegas, NV 4
    • 3 beds 3 baths ∙ 2,667 Sqft ∙ Built 2004 3 beds 3 baths ∙ 2,667 Sqft ∙ Built 2004
    • Rent
    • Rent Per SQFT
    •  
    • $1,940
    • $0.73
    •  
  • 7884 Tolberts Mill Drive Las Vegas, NV 1
    • 3 beds 3 baths ∙ 2,467 Sqft ∙ Built 2006 3 beds 3 baths ∙ 2,467 Sqft ∙ Built 2006
    LEASED 12/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,795
    • $0.73
    •  
  • 7244 Crescentville Avenue Las Vegas, NV 2
    • 4 beds 4 baths ∙ 2,612 Sqft ∙ Built 2004 4 beds 4 baths ∙ 2,612 Sqft ∙ Built 2004
    LEASED 02/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,825
    • $0.70
    •  
  • 7213 Fairwind Acres Place Las Vegas, NV 3
    • 4 beds 3 baths ∙ 2,551 Sqft ∙ Built 2004 4 beds 3 baths ∙ 2,551 Sqft ∙ Built 2004
    LEASED 01/01/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $0.73
    •  
  • 8140 Walden Lake Street Las Vegas, NV 5
    • 3 beds 3 baths ∙ 2,625 Sqft ∙ Built 2006 3 beds 3 baths ∙ 2,625 Sqft ∙ Built 2006
    LEASED 02/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $0.80
    •  
PROPERTY LISTING DETAILS
Luis E Turcaz
1.702.612.4080
Platinum R.e. Professionals
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2261237
Last Updated: 01/15/2021
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