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9023 Iron Crow Avenue Las Vegas, NV 89147

4 Beds 3 Baths 1,986 sqft Built 2000

$340,000

List Price

$1,720

$1.5K - $1.9K

Rent Est.

PROPERTY INFO

FACTS
  • Built In 2000
  • Price/Sqft : $171.20
  • 9 Days on Market
  • MLS # : 2242126
  • Updated Date : 10/28/2020 at 16:30
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,986 sqft
  • Baths : 3 full
Listing Agent

Compass Realty & Management, L

Listing Agent's Description

BEAUTIFUL 4 BEDROOM 3 FULL BATHROOM HOME LOCATED IN THE SOUTHWEST PART OF THE VALLEY. THIS HOME BOASTS AN OPEN FLOORPLAN, SPACIOUS MASTER BEDROOM, 2 CAR GARAGE, LOVELY YARD AND WOOD FLOORING WITH NO ASSOCIATION.

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: Spring Valley

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280kPrice in $119k296k

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

Neighborhood: Spring Valley

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2105011001150120012501300135014001450150015501600Rent in $10381606

* 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
Patricia A Bendorf. Elementary School Primary Regular 707 36 9
Lawrence Junior High School Middle Regular 1,421 61 NA
Spring Valley High School High Regular 1,925 79 4

Patricia A Bendorf. Elementary School

  • Education Level: Primary
  • # of students: 707
  • # of teachers: 36
9
GreatSchools Rating

Lawrence Junior High School

  • Education Level: Middle
  • # of students: 1,421
  • # of teachers: 61
NA
GreatSchools Rating

Spring Valley High School

  • Education Level: High
  • # of students: 1,925
  • # of teachers: 79
4
GreatSchools Rating
 

$306,000$374,000$340,000

PURCHASE PRICE

$1,548$1,892$1,720

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,720
EXPENSES Loan Payment -$1,254
Property Tax -$213
Property Insurance -$66
Property Management Fees -$119
CASH FLOW
$68

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.

$340,000

PROJECTED PRICE

$1,720

PROJECTED RENT

0.51%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.96%
Appreciation Year (1-5) 9.9%
Maintenance Year (1-5) 8.00%
Vacancy 7.63%
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

PROJECTED ANNUAL CASH FLOW

11530$0.0$5.0k$10k$15k$20k

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$95,850

INVESTMENT

$95,850

Down Payment
$85,000
Rehab Estimate
$5,750
Closing Costs
$5,100

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 45% down payment or higher enables the proceeds from the asset to cover all costs.

$1,254

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $85,000
Loan Amount $255,000
See What Happens When You Reinvest Cash Flow

7.17

YEARS SAVED

$34,106

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,720

    LIST RENT
  • $0.87

    LIST RENT PER SQFT
  • $1,683

    COMP ESTIMATED VALUE
  • $0.85

    COMP AVG. RENT PER SQFT
Comps Range
$1,590
1$1,5902$1,6993$1,7204$1,7505$1,895
$1,895
RENT COMPS ANALYSIS
  • 9023 Iron Crow Avenue Las Vegas, NV 3
    • 4 beds 3 baths ∙ 1,986 Sqft ∙ Built 2000 4 beds 3 baths ∙ 1,986 Sqft ∙ Built 2000
    • Rent
    • Rent Per SQFT
    •  
    • $1,720
    • $0.87
    •  
  • 4545 Ashington Street Las Vegas, NV 1
    • 3 beds 3 baths ∙ 1,930 Sqft ∙ Built 1997 3 beds 3 baths ∙ 1,930 Sqft ∙ Built 1997
    LEASED 07/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,590
    • $0.82
    •  
  • 4354 Flaming Ridge Trail Las Vegas, NV 2
    • 5 beds 3 baths ∙ 2,092 Sqft ∙ Built 1997 5 beds 3 baths ∙ 2,092 Sqft ∙ Built 1997
    LEASED 02/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,699
    • $0.81
    •  
  • 3981 Lone Mesa Las Vegas, NV 4
    • 3 beds 2 baths ∙ 2,002 Sqft ∙ Built 1996 3 beds 2 baths ∙ 2,002 Sqft ∙ Built 1996
    LEASED 04/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.87
    •  
  • 4280 Night Star Street Las Vegas, NV 5
    • 4 beds 2 baths ∙ 2,120 Sqft ∙ Built 1999 4 beds 2 baths ∙ 2,120 Sqft ∙ Built 1999
    LEASED 03/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,895
    • $0.89
    •  
PROPERTY LISTING DETAILS
Warren Chaney
1.702.400.1443
Compass Realty & Management, L
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2242126
Last Updated: 10/28/2020
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