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8475 Green Alder Court Las Vegas, NV 89113

5 Beds 3 Baths 2,114 sqft Built 2018

$399,950

List Price

$1,950

$1.8K - $2.1K

Rent Est.

PROPERTY INFO

February 11, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2018
  • Price/Sqft : $189.19
  • 4 Days on Market
  • MLS # : 2269210
  • Updated Date : 02/11/2021 at 22:15
CONSTRUCTION
  • Beds : 5
  • Floor Size : 2,114 sqft
  • Baths : 3 full
Listing Agent

Nevada Real Estate Services

Listing Agent's Description

5 bedrooms and 3 full bathrooms in Southwest Las Vegas. Excellent location close to parks, schools, shopping and the 215 beltway. Open concept layout with a bedroom and full bathroom downstairs. Beautiful kitchen with breakfast bar, granite counter tops, stainless steel appliances. Upstairs has a split bedroom floor plan with large owners retreat that includes a walk in closet, dual vanity, and walk in shower. This house has tankless hot water heater and has a soft water loop. The backyard has desert landscaping with fruit trees.

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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: 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
Judi D. Steele Elementary School Primary Regular 858 43 8
Lawrence And Heidi Canarelli Middle School Middle Regular 1,802 70 NA
Sierra Vista High School High Regular 2,396 88 4

Judi D. Steele Elementary School

  • Education Level: Primary
  • # of students: 858
  • # of teachers: 43
8
GreatSchools Rating

Lawrence And Heidi Canarelli Middle School

  • Education Level: Middle
  • # of students: 1,802
  • # of teachers: 70
NA
GreatSchools Rating

Sierra Vista High School

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

$359,955$439,945$399,950

PURCHASE PRICE

$1,755$2,145$1,950

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,950
EXPENSES Loan Payment -$1,389
Property Tax -$281
Property Insurance -$68
Property Management Fees -$119
CASH FLOW
$93

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.

$399,950

PROJECTED PRICE

$1,950

PROJECTED RENT

0.49%

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

PROJECTED ANNUAL CASH FLOW

11530$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$111,737

INVESTMENT

$111,737

Down Payment
$99,988
Rehab Estimate
$5,750
Closing Costs
$5,999

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,389

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $99,988
Loan Amount $299,963
See What Happens When You Reinvest Cash Flow

7.17

YEARS SAVED

$34,998

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,950

    LIST RENT
  • $0.92

    LIST RENT PER SQFT
  • $1,918

    COMP ESTIMATED VALUE
  • $0.91

    COMP AVG. RENT PER SQFT
Comps Range
$1,750
1$1,7502$1,9193$1,9504$1,9505$2,000
$2,000
RENT COMPS ANALYSIS
  • 8475 Green Alder Court Las Vegas, NV 4
    • 5 beds 3 baths ∙ 2,114 Sqft ∙ Built 2018 5 beds 3 baths ∙ 2,114 Sqft ∙ Built 2018
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $0.92
    •  
  • 140 Springhouse Street Las Vegas, NV 1
    • 4 beds 3 baths ∙ 1,932 Sqft ∙ Built 2016 4 beds 3 baths ∙ 1,932 Sqft ∙ Built 2016
    LEASED 11/25/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.91
    •  
  • 7751 Alder Landing Street Las Vegas, NV 2
    • 4 beds 3 baths ∙ 2,114 Sqft ∙ Built 2018 4 beds 3 baths ∙ 2,114 Sqft ∙ Built 2018
    LEASED 12/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,919
    • $0.91
    •  
  • 129 Elm Reed Avenue Las Vegas, NV 3
    • 4 beds 2 baths ∙ 2,276 Sqft ∙ Built 2018 4 beds 2 baths ∙ 2,276 Sqft ∙ Built 2018
    LEASED 04/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $0.86
    •  
  • 8438 Alder Rain Street Las Vegas, NV 5
    • 4 beds 3 baths ∙ 2,115 Sqft ∙ Built 2020 4 beds 3 baths ∙ 2,115 Sqft ∙ Built 2020
    LEASED 11/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $0.95
    •  
PROPERTY LISTING DETAILS
Chas D Wilkerson
1.702.898.2400
Nevada Real Estate Services
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2269210
Last Updated: 02/11/2021
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