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8516 Sweet Cedar Avenue Las Vegas, NV 89143

5 Beds 2 Baths 2,118 sqft Built 2004

$329,000

List Price

$1,510

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

November 18, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2004
  • Price/Sqft : $155.34
  • 6 Days on Market
  • MLS # : 2249084
  • Updated Date : 11/17/2020 at 21:00
CONSTRUCTION
  • Beds : 5
  • Floor Size : 2,118 sqft
  • Baths : 2 full
Listing Agent

Realty One Group, Inc

Listing Agent's Description

Beautiful and well kept 5 bedroom home. 1 bedroom and 3/4 bath downstairs. Vaulted ceilings,wood floors and a fireplace are just the beginning of options with this home. Mountain view form master bedroom which is separate from the other bedrooms. Home is located just minutes from Floyd Lamb State park and Mt Charleston.

SEE MORE

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
 

$296,100$361,900$329,000

PURCHASE PRICE

$1,359$1,661$1,510

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,510
EXPENSES Loan Payment -$1,214
Property Tax -$249
Property Insurance -$68
Property Management Fees -$119
CASH FLOW
-$140

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.

$329,000

PROJECTED PRICE

$1,510

PROJECTED RENT

0.46%

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$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$92,935

INVESTMENT

$92,935

Down Payment
$82,250
Rehab Estimate
$5,750
Closing Costs
$4,935

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,214

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $82,250
Loan Amount $246,750
See What Happens When You Reinvest Cash Flow

3.83

YEARS SAVED

$13,627

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,510

    LIST RENT
  • $0.71

    LIST RENT PER SQFT
  • $1,551

    COMP ESTIMATED VALUE
  • $0.73

    COMP AVG. RENT PER SQFT
Comps Range
$1,510
1$1,5102$1,5503$1,5954$1,6505$1,675
$1,675
RENT COMPS ANALYSIS
  • 8516 Sweet Cedar Avenue Las Vegas, NV 1
    • 5 beds 2 baths ∙ 2,118 Sqft ∙ Built 2004 5 beds 2 baths ∙ 2,118 Sqft ∙ Built 2004
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,510
    • $0.71
    •  
  • 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
    property image
    LEASED 02/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $0.73
    •  
  • 8432 Cheerful Brook Avenue #- Las Vegas, NV 3
    • 4 beds 2 baths ∙ 2,118 Sqft ∙ Built 2005 4 beds 2 baths ∙ 2,118 Sqft ∙ Built 2005
    property image
    LEASED 06/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $0.75
    •  
  • 8293 Amtrak Express Avenue Las Vegas, NV 4
    • 4 beds 3 baths ∙ 2,294 Sqft ∙ Built 2007 4 beds 3 baths ∙ 2,294 Sqft ∙ Built 2007
    property image
    LEASED 10/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.72
    •  
  • 8016 Crazy Train Las Vegas, NV 5
    • 4 beds 3 baths ∙ 2,294 Sqft ∙ Built 2007 4 beds 3 baths ∙ 2,294 Sqft ∙ Built 2007
    property image
    LEASED 04/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,675
    • $0.73
    •  
PROPERTY LISTING DETAILS
Adam Naglich
1.702.335.2156
Realty One Group, Inc
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2249084
Last Updated: 11/17/2020
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