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8689 Green Ridge Avenue Las Vegas, NV 89178

3 Beds 3 Baths 2,118 sqft Built 2007

$399,999

List Price

$1,710

$1.5K - $1.9K

Rent Est.

PROPERTY INFO

FACTS
  • Single Family
  • Built In 2007
  • Price/Sqft : $188.86
  • 13 Days on Market
  • MLS # : 2247172
  • Updated Date : 11/18/2020 at 13:37
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,118 sqft
  • Baths : 3 full
Listing Agent

Platinum R.e. Professionals

Listing Agent's Description

Beautiful home with a spacious kitchen to host dinners. Backyard has a pool and spa to cool off and enjoy the Vegas sunshine with a covered patio. Ceiling fans and closets in each room. Separate laundry room equipped with washer and dryer. The neutral tones of the home allow for decor of any choice. Perfectly located in the south west and minutes from Mountains Edge Regional Park,shopping casinos,shopping and much more!

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: Mountain Edge

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320k340k360kPrice in $119k362k

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

Neighborhood: Mountain Edge

NeighborhoodNIR Market*CityMarket2010Year20002019 Q211001200130014001500160017001800Rent in $10391875

* 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
William V. Wright Elementary School Primary Regular 1,256 62 8
Lawrence And Heidi Canarelli Middle School Middle Regular 1,802 70 NA
Desert Oasis High School High Regular 2,417 102 5

William V. Wright Elementary School

  • Education Level: Primary
  • # of students: 1,256
  • # of teachers: 62
8
GreatSchools Rating

Lawrence And Heidi Canarelli Middle School

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

Desert Oasis High School

  • Education Level: High
  • # of students: 2,417
  • # of teachers: 102
5
GreatSchools Rating
 

$359,999$439,999$399,999

PURCHASE PRICE

$1,539$1,881$1,710

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,710
EXPENSES Loan Payment -$1,476
Property Tax -$306
Property Insurance -$68
Property Management Fees -$119
CASH FLOW
-$259

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.

$399,999

PROJECTED PRICE

$1,710

PROJECTED RENT

0.43%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.05%
Appreciation Year (1-5) 8.4%
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$111,750

INVESTMENT

$111,750

Down Payment
$100,000
Rehab Estimate
$5,750
Closing Costs
$6,000

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,476

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $100,000
Loan Amount $299,999
See What Happens When You Reinvest Cash Flow

2.67

YEARS SAVED

$9,956

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,710

    LIST RENT
  • $0.81

    LIST RENT PER SQFT
  • $1,710

    COMP ESTIMATED VALUE
  • $0.81

    COMP AVG. RENT PER SQFT
Comps Range
$1,650
1$1,6502$1,6503$1,7004$1,7005$1,710
$1,710
RENT COMPS ANALYSIS
  • 8689 Green Ridge Avenue Las Vegas, NV 5
    • 3 beds 3 baths ∙ 2,118 Sqft ∙ Built 2007 3 beds 3 baths ∙ 2,118 Sqft ∙ Built 2007
    • Rent
    • Rent Per SQFT
    •  
    • $1,710
    • $0.81
    •  
  • 9098 Horizon Mist Las Vegas, NV 1
    • 4 beds 2 baths ∙ 2,022 Sqft ∙ Built 2006 4 beds 2 baths ∙ 2,022 Sqft ∙ Built 2006
    LEASED 05/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.82
    •  
  • 9091 Cloudy Mountain Place Las Vegas, NV 2
    • 3 beds 2 baths ∙ 2,022 Sqft ∙ Built 2008 3 beds 2 baths ∙ 2,022 Sqft ∙ Built 2008
    LEASED 07/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.82
    •  
  • 10386 Station Creek Circle Las Vegas, NV 3
    • 3 beds 3 baths ∙ 2,118 Sqft ∙ Built 2006 3 beds 3 baths ∙ 2,118 Sqft ∙ Built 2006
    LEASED 12/19/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $0.80
    •  
  • 8904 Harmony Hall Avenue Las Vegas, NV 4
    • 3 beds 3 baths ∙ 2,158 Sqft ∙ Built 2012 3 beds 3 baths ∙ 2,158 Sqft ∙ Built 2012
    LEASED 10/25/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $0.79
    •  
PROPERTY LISTING DETAILS
John W Richardson
1.702.403.8363
Platinum R.e. Professionals
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2247172
Last Updated: 11/18/2020
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