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8976 Dallas Ridge Avenue Las Vegas, NV 89178

3 Beds 3 Baths 2,196 sqft Built 2005

$330,000

List Price

$1,490

$1.3K - $1.6K

Rent Est.

PROPERTY INFO

FACTS
  • Built In 2005
  • Price/Sqft : $150.27
  • 13 Days on Market
  • MLS # : 2237597
  • Updated Date : 11/06/2020 at 11:05
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,196 sqft
  • Baths : 2 full , 1 half
Listing Agent

Home- A Real Estate Company

Listing Agent's Description

Mtn. Edge home in Arlingtion Ranch gated community. This home has all the comforts of home. Long driveway with great landscaping, open floor plan downstairs, large loft upstairs, 2 guest rooms, and a huge master bedroom with vaulted ceilings. The backyard is very peaceful and easy to maintain. You will even get delicious grapes from the grapevines. easy access to your everyday needs and to those adventurous outdoor activities that the Mtn Edge community offers.

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: 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
 

$297,000$363,000$330,000

PURCHASE PRICE

$1,341$1,639$1,490

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,490
EXPENSES Loan Payment -$1,218
Property Tax -$256
Property Insurance -$70
Property Management Fees -$119
CASH FLOW
-$172

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.

$330,000

PROJECTED PRICE

$1,490

PROJECTED RENT

0.45%

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

PROJECTED ANNUAL CASH FLOW

11530-$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$93,200

INVESTMENT

$93,200

Down Payment
$82,500
Rehab Estimate
$5,750
Closing Costs
$4,950

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,218

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $82,500
Loan Amount $247,500
See What Happens When You Reinvest Cash Flow

3.42

YEARS SAVED

$11,267

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,490

    LIST RENT
  • $0.68

    LIST RENT PER SQFT
  • $1,537

    COMP ESTIMATED VALUE
  • $0.7

    COMP AVG. RENT PER SQFT
Comps Range
$1,490
1$1,4902$1,5003$1,5504$1,5755$1,595
$1,595
RENT COMPS ANALYSIS
  • 8976 Dallas Ridge Avenue Las Vegas, NV 1
    • 3 beds 3 baths ∙ 2,196 Sqft ∙ Built 2005 3 beds 3 baths ∙ 2,196 Sqft ∙ Built 2005
    • Rent
    • Rent Per SQFT
    •  
    • $1,490
    • $0.68
    •  
  • 9341 Lakefront Color Street Las Vegas, NV 2
    • 3 beds 3 baths ∙ 2,196 Sqft ∙ Built 2005 3 beds 3 baths ∙ 2,196 Sqft ∙ Built 2005
    LEASED 10/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $0.68
    •  
  • 8933 Houston Ridge Avenue #0 Las Vegas, NV 3
    • 3 beds 3 baths ∙ 2,196 Sqft ∙ Built 2005 3 beds 3 baths ∙ 2,196 Sqft ∙ Built 2005
    LEASED 03/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $0.71
    •  
  • 9148 Smugglers Beach Court Las Vegas, NV 4
    • 3 beds 3 baths ∙ 2,252 Sqft ∙ Built 2007 3 beds 3 baths ∙ 2,252 Sqft ∙ Built 2007
    LEASED 08/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,575
    • $0.70
    •  
  • 9172 Smugglers Beach Court Las Vegas, NV 5
    • 3 beds 3 baths ∙ 2,252 Sqft ∙ Built 2007 3 beds 3 baths ∙ 2,252 Sqft ∙ Built 2007
    LEASED 05/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $0.71
    •  
PROPERTY LISTING DETAILS
John Kennedy
1.702.630.3819
Home- A Real Estate Company
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2237597
Last Updated: 11/06/2020
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