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8416 Sweet Cedar Avenue Las Vegas, NV 89143

4 Beds 2 Baths 2,118 sqft Built 2004

$334,900

List Price

$1,480

$1.3K - $1.6K

Rent Est.

PROPERTY INFO

November 06, 2020 RECENTLY ADDED
FACTS
  • Built In 2004
  • Price/Sqft : $158.12
  • 4 Days on Market
  • MLS # : 2244059
  • Updated Date : 11/06/2020 at 13:35
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,118 sqft
  • Baths : 2 full
Listing Agent

Hastings Brokerage Ltd

Listing Agent's Description

Nice 2 story single family home with 4 bedrooms and 2.75 baths located in northwest Las Vegas, near shopping areas and restaurants, and with easy access to the US-95 freeway. Inviting floor plan with a living room and separate family room! Roomy primary bedroom with a walk-in closet. Cozy gas fireplace in the family room. The loft can be a 5th bedroom due to it having a closet. Show today! All figures and measurements are only approximate. Buyer is to verify schools, HOA, measurements and utilities.

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MARKET HIGHLIGHTS

  • 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)
  • 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)

PRICE & RENT TRENDS

Neighborhood: Cedar Springs

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320k340k360kPrice in $117k362k

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

Neighborhood: Cedar Springs

NeighborhoodNIR Market*CityMarket2010Year20002019 Q211001200130014001500160017001800Rent in $10621875

* 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
James Bilbray Elementary School Primary Regular 763 39 9
Ralph Cadwallader Middle School Middle Regular 1,480 63 NA
Arbor View High School High Regular 2,878 116 9

James Bilbray Elementary School

  • Education Level: Primary
  • # of students: 763
  • # of teachers: 39
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
 

$301,410$368,390$334,900

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 -$1,236
Property Tax -$249
Property Insurance -$68
Property Management Fees -$119
CASH FLOW
-$192

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.

$334,900

PROJECTED PRICE

$1,480

PROJECTED RENT

0.44%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.05%
Appreciation Year (1-5) 10.1%
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

PROJECTED ANNUAL CASH FLOW

11530-$5.0k$0.0$5.0k$10k

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$94,499

INVESTMENT

$94,499

Down Payment
$83,725
Rehab Estimate
$5,750
Closing Costs
$5,024

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,236

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $83,725
Loan Amount $251,175
See What Happens When You Reinvest Cash Flow

3.25

YEARS SAVED

$10,293

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
  • $0.7

    LIST RENT PER SQFT
  • $1,589

    COMP ESTIMATED VALUE
  • $0.75

    COMP AVG. RENT PER SQFT
Comps Range
$1,480
1$1,4802$1,5503$1,5504$1,5955$1,595
$1,595
RENT COMPS ANALYSIS
  • 8416 Sweet Cedar Avenue Las Vegas, NV 1
    • 4 beds 2 baths ∙ 2,118 Sqft ∙ Built 2004 4 beds 2 baths ∙ 2,118 Sqft ∙ Built 2004
    • Rent
    • Rent Per SQFT
    •  
    • $1,480
    • $0.70
    •  
  • 8020 Glowing Water Street Las Vegas, NV 2
    • 4 beds 2 baths ∙ 2,118 Sqft ∙ Built 2004 4 beds 2 baths ∙ 2,118 Sqft ∙ Built 2004
    LEASED 02/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $0.73
    •  
  • 8420 Twinkling Topaz Avenue Las Vegas, NV 3
    • 3 beds 3 baths ∙ 1,930 Sqft ∙ Built 2000 3 beds 3 baths ∙ 1,930 Sqft ∙ Built 2000
    LEASED 01/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $0.80
    •  
  • 8432 Cheerful Brook Avenue #- Las Vegas, NV 4
    • 4 beds 2 baths ∙ 2,118 Sqft ∙ Built 2005 4 beds 2 baths ∙ 2,118 Sqft ∙ Built 2005
    LEASED 06/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $0.75
    •  
  • 8928 Iron Hitch Avenue #0 Las Vegas, NV 5
    • 4 beds 3 baths ∙ 2,208 Sqft ∙ Built 2000 4 beds 3 baths ∙ 2,208 Sqft ∙ Built 2000
    LEASED 08/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $0.72
    •  
PROPERTY LISTING DETAILS
Jim Hastings
1.702.240.5448
Hastings Brokerage Ltd
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2244059
Last Updated: 11/06/2020
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