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8623 Lavender Ridge Street 
Las Vegas, NV
89131
4 Beds 4 Baths 2,948 sqft
Built 2011
INVESTimate
$530,000
List Price
$146,200
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PROPERTY INFO
FACTS
- Built In 2011
- Price/Sqft : $179.78
- 4 Days on Market
- MLS # : 2224491
- Updated Date : 08/25/2020 at 14:19
CONSTRUCTION
- Beds : 4
- Floor Size : 2,948 sqft
- Baths : 3 full , 1 half
Listing Agent
Icon Realty
Listing Agent's Description
Dual Master! Single Story 4 Bedroom - 3 full bath in gated single story community. 10 ft Ceilings, Huge Island, wide Entryway, Huge great room, separate laundry area and sink. Nice covered patio with mature landscaping. Large Courtyard off kitchen. This open floor plan comes with a beautiful master with separate tub and shower, dual sinks, w/vanity, huge dressing room/closet and separate from other bedrooms. One of the room is over sized with its own bathroom. This house is on the outskirts of Las Vegas.
SEE MORE
- 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: Centennial Hills
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: Centennial Hills
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
PROJECTED ACCUMULATED WEALTH
30 YEAR PROJECTION
- Cash Flow
- Appreciation
- Principal
PROJECTED ANNUAL CASH FLOW
PROJECTED PROPERTY VALUE
30 YEAR PROJECTION
- Appreciation
- Principal
- Loan Balance
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $2,110 |
| EXPENSES | Loan Payment | -$1,955 |
| Property Tax | -$431 | |
| Property Insurance | -$84 | |
| HOA | -$77 | |
| Property Management Fees | -$119 | |
|
CASH FLOW
-$556
|
||
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.
$530,000
PROJECTED PRICE
$2,110
PROJECTED RENT
0.40%
PROJECTED RENT / PRICE RATIO
| Expense Inflation | 2.50% |
| Rental Growth Year (1-5) | 4.05% |
| Appreciation Year (1-5) | 10.32% |
| Maintenance Year (1-5) | 8.00% |
| Vacancy | 7.57% |
| Length of Stay Years | 2 |
TOTAL CASH OUT OF POCKET
INVESTMENT
$146,200
LOAN DETAILS
$1,955
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 4.25% |
| Down Payment | $132,500 |
| Loan Amount | $397,500 |
1.17
YEARS SAVED
$2,994
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$2,110
LIST RENT -
$0.72
LIST RENT PER SQFT
-
$2,299
COMP ESTIMATED VALUE -
$0.78
COMP AVG. RENT PER SQFT
Comps Range
-
8623 Lavender Ridge Street Las Vegas, NV 2
- 4 beds 4 baths ∙ 2,948 Sqft ∙ Built 2011 4 beds 4 baths ∙ 2,948 Sqft ∙ Built 2011
- Rent
- Rent Per SQFT
- $2,110
- $0.72
-
8216 Imperial Lakes Street #n/a Las Vegas, NV 1
- 3 beds 3 baths ∙ 2,645 Sqft ∙ Built 2005 3 beds 3 baths ∙ 2,645 Sqft ∙ Built 2005
LEASED 05/31/19- Rent
- Rent Per SQFT
- $1,995
- $0.75
-
8965 Monte Oro Drive Las Vegas, NV 3
- 5 beds 3 baths ∙ 3,010 Sqft ∙ Built 2006 5 beds 3 baths ∙ 3,010 Sqft ∙ Built 2006
LEASED 07/01/19- Rent
- Rent Per SQFT
- $2,200
- $0.73
-
8250 Point Given Street Las Vegas, NV 4
- 4 beds 3 baths ∙ 2,824 Sqft ∙ Built 2005 4 beds 3 baths ∙ 2,824 Sqft ∙ Built 2005
LEASED 04/01/20- Rent
- Rent Per SQFT
- $2,300
- $0.81
-
5760 Yellow Ridge Avenue Las Vegas, NV 5
- 3 beds 3 baths ∙ 3,010 Sqft ∙ Built 2018 3 beds 3 baths ∙ 3,010 Sqft ∙ Built 2018
LEASED 09/22/19- Rent
- Rent Per SQFT
- $2,500
- $0.83
PROPERTY LISTING DETAILS
1.702.327.8892
Icon Realty
1.866.250.5610
Mynd Property Management
1453579
MLS #: 2224491
Last Updated: 08/25/2020
