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8903 Rio Grande Falls Avenue Las Vegas, NV 89178

4 Beds 2 Baths 2,192 sqft Built 2005

$459,987

List Price

$1,700

$1.5K - $1.9K

Rent Est.

PROPERTY INFO

November 03, 2020 RECENTLY ADDED
FACTS
  • Built In 2005
  • Price/Sqft : $209.85
  • 2 Days on Market
  • MLS # : 2244199
  • Updated Date : 11/02/2020 at 20:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,192 sqft
  • Baths : 2 full
Listing Agent

Realty One Group, Inc

Listing Agent's Description

Pride of Ownership! Immaculately maintained 4 Bedroom, 2 Bath, single story in sought after Arlington Ranch gated community! Tile entry, carpet in the bedrooms and waterproof laminate thru-out! Spacious bedrooms & rooms all with ceiling fans! Gorgeous master suite & ensuite featuring separate tub & shower, dual sinks & walk-in closet! Over-sized living room with gas fireplace & surround sound! Eat-in gourmet kitchen features custom cabinetry, granite counters, breakfast bar, top-of-the-line Samsung appliances & undermount sink! Wide base boards, 2-tone sheen paint & crown molding thru-out! Serene backyard w/stained concrete covered patio, artificial turf, mature landscaping, shrubs, palm trees & beautiful decorative columns! 3-car garage! Soft water loop! Walking trail with exercise stations throughout the community!

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
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
 

$413,988$505,986$459,987

PURCHASE PRICE

$1,530$1,870$1,700

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,700
EXPENSES Loan Payment -$1,697
Property Tax -$288
Property Insurance -$70
Property Management Fees -$119
CASH FLOW
-$474

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.

$459,987

PROJECTED PRICE

$1,700

PROJECTED RENT

0.37%

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-$10k-$5.0k$0.0$5.0k$10k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M$1.6M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$127,647

INVESTMENT

$127,647

Down Payment
$114,997
Rehab Estimate
$5,750
Closing Costs
$6,900

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 65% down payment or higher enables the proceeds from the asset to cover all costs.

$1,697

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $114,997
Loan Amount $344,990
See What Happens When You Reinvest Cash Flow

1.33

YEARS SAVED

$3,536

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,700

    LIST RENT
  • $0.78

    LIST RENT PER SQFT
  • $1,786

    COMP ESTIMATED VALUE
  • $0.82

    COMP AVG. RENT PER SQFT
Comps Range
$1,595
1$1,5952$1,6953$1,7004$1,7505$1,825
$1,825
RENT COMPS ANALYSIS
  • 8903 Rio Grande Falls Avenue Las Vegas, NV 3
    • 4 beds 2 baths ∙ 2,192 Sqft ∙ Built 2005 4 beds 2 baths ∙ 2,192 Sqft ∙ Built 2005
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $0.78
    •  
  • 9365 Lakefront Color Street Las Vegas, NV 1
    • 4 beds 3 baths ∙ 1,992 Sqft ∙ Built 2005 4 beds 3 baths ∙ 1,992 Sqft ∙ Built 2005
    LEASED 03/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $0.80
    •  
  • 9847 Mount Madera Las Vegas, NV 2
    • 4 beds 3 baths ∙ 2,044 Sqft ∙ Built 2006 4 beds 3 baths ∙ 2,044 Sqft ∙ Built 2006
    LEASED 07/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $0.83
    •  
  • 8845 Rio Grande Falls Avenue Las Vegas, NV 4
    • 4 beds 2 baths ∙ 2,182 Sqft ∙ Built 2005 4 beds 2 baths ∙ 2,182 Sqft ∙ Built 2005
    LEASED 07/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.80
    •  
  • 8921 Frasure Falls Avenue Las Vegas, NV 5
    • 4 beds 2 baths ∙ 2,192 Sqft ∙ Built 2005 4 beds 2 baths ∙ 2,192 Sqft ∙ Built 2005
    LEASED 02/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,825
    • $0.83
    •  
PROPERTY LISTING DETAILS
Merri Perry
1.702.219.2585
Realty One Group, Inc
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2244199
Last Updated: 11/02/2020
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