Work with a dedicated Real Estate Advisor who will take your financial preferences and help you select and acquire properties that fit your criteria. Learn more

89 Ice Fall Avenue Las Vegas, NV 89183

3 Beds 3 Baths 1,483 sqft Built 2007

$299,000

List Price

$1,320

$1.2K - $1.5K

Rent Est.

PROPERTY INFO

November 01, 2020 RECENTLY ADDED
FACTS
  • Built In 2007
  • Price/Sqft : $201.62
  • 6 Days on Market
  • MLS # : 2241649
  • Updated Date : 11/02/2020 at 22:40
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,483 sqft
  • Baths : 2 full , 1 half
Listing Agent

Redfin

Listing Agent's Description

Bright, open floorplan with 3 bedrooms, 2.5 baths, and 2 car attached garage on a quiet, tree lined street. Oversized L-shaped corner lot home close to community park. Neutral colors throughout Kitchen features include: black granite countertops, upgraded cabinets with hardware, island, and stainless steel appliances. Tile downstairs - Carpet upstairs. Covered patio with low maintenance landscaping. Custom blinds and wired for surround sound indoor and out. HOA just $45/mo. Come see this gem it won't last long!

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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)

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
Steve Schorr Elementary School Primary Regular 1,042 54 7
Del E Webb Middle School Middle Regular 1,863 74 NA
Liberty High School High Regular 2,496 105 5

Steve Schorr Elementary School

  • Education Level: Primary
  • # of students: 1,042
  • # of teachers: 54
7
GreatSchools Rating

Del E Webb Middle School

  • Education Level: Middle
  • # of students: 1,863
  • # of teachers: 74
NA
GreatSchools Rating

Liberty High School

  • Education Level: High
  • # of students: 2,496
  • # of teachers: 105
5
GreatSchools Rating
 

$269,100$328,900$299,000

PURCHASE PRICE

$1,188$1,452$1,320

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,320
EXPENSES Loan Payment -$1,103
Property Tax -$187
Property Insurance -$56
Property Management Fees -$119
CASH FLOW
-$145

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.

$299,000

PROJECTED PRICE

$1,320

PROJECTED RENT

0.44%

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

PROJECTED ANNUAL CASH FLOW

11530-$4.0k-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$84,985

INVESTMENT

$84,985

Down Payment
$74,750
Rehab Estimate
$5,750
Closing Costs
$4,485

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,103

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $74,750
Loan Amount $224,250
See What Happens When You Reinvest Cash Flow

3.67

YEARS SAVED

$11,600

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,320

    LIST RENT
  • $0.89

    LIST RENT PER SQFT
  • $1,439

    COMP ESTIMATED VALUE
  • $0.97

    COMP AVG. RENT PER SQFT
Comps Range
$1,300
1$1,3002$1,3203$1,4504$1,4955$1,500
$1,500
RENT COMPS ANALYSIS
  • 89 Ice Fall Avenue Las Vegas, NV 2
    • 3 beds 3 baths ∙ 1,483 Sqft ∙ Built 2007 3 beds 3 baths ∙ 1,483 Sqft ∙ Built 2007
    • Rent
    • Rent Per SQFT
    •  
    • $1,320
    • $0.89
    •  
  • 76 Japonica Avenue Las Vegas, NV 1
    • 3 beds 3 baths ∙ 1,483 Sqft ∙ Built 2007 3 beds 3 baths ∙ 1,483 Sqft ∙ Built 2007
    LEASED 02/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,300
    • $0.88
    •  
  • 11532 Elcadore Street Las Vegas, NV 3
    • 3 beds 3 baths ∙ 1,483 Sqft ∙ Built 2008 3 beds 3 baths ∙ 1,483 Sqft ∙ Built 2008
    LEASED 06/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $0.98
    •  
  • 11568 Elcadore Las Vegas, NV 4
    • 3 beds 3 baths ∙ 1,483 Sqft ∙ Built 2008 3 beds 3 baths ∙ 1,483 Sqft ∙ Built 2008
    LEASED 06/25/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,495
    • $1.01
    •  
  • 11556 Elcadore Street #0 Las Vegas, NV 5
    • 3 beds 3 baths ∙ 1,483 Sqft ∙ Built 2008 3 beds 3 baths ∙ 1,483 Sqft ∙ Built 2008
    LEASED 05/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $1.01
    •  
PROPERTY LISTING DETAILS
Lori Garlick
1.702.274.8271
Redfin
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2241649
Last Updated: 11/02/2020
BESbswy