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9024 Rockville Avenue Las Vegas, NV 89143

6 Beds 4 Baths 4,964 sqft Built 2003

$685,000

List Price

$3,580

$3.3K - $3.8K

Rent Est.

PROPERTY INFO

January 12, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2003
  • Price/Sqft : $137.99
  • 6 Days on Market
  • MLS # : 2261127
  • Updated Date : 01/12/2021 at 19:00
CONSTRUCTION
  • Beds : 6
  • Floor Size : 4,964 sqft
  • Baths : 4 full
Listing Agent

Congress Realty

Listing Agent's Description

Beautiful and spacious 4964sf single family home has 6bd and 5ba in ideal northwest Las Vegas location in gated community. Great neighborhood and on private cul de sac. Pool and patio with 3 space 616sf attached garage. Tile roof, balconies and many extras. Built in 2003 with block fenced yard on 0.25 acres. Nearest schools: Bilbray James, Cadwallader Ralph and Arbor View. Features: central cooling & heating, dbl pane/storm windows, fireplace, carpet & tile flooring, intercom, 3 space garage, pool, patio & deck, sprinkler system, exterior balcony, backyard fully fenced (block), interior blinds, irrigation bubbles, front lawn, association playground, gated entry, HOA fee $98/mo, some appliances, public sewer.

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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)

PRICE & RENT TRENDS

Neighborhood: Astoria Iron Mountain

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450k500k550k600k650k700k750k800kPrice in $119k818k

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

Neighborhood: Astoria Iron Mountain

NeighborhoodNIR Market*CityMarket2010Year20002019 Q212001400160018002000220024002600280030003200Rent in $10763372

* 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
James Bilbray Elementary School Primary Regular 763 39 9
Ralph Cadwallader Middle School Middle Regular 1,480 63 NA
Arbor View High School High Regular 2,878 116 9

James Bilbray Elementary School

  • Education Level: Primary
  • # of students: 763
  • # of teachers: 39
9
GreatSchools Rating

Ralph Cadwallader Middle School

  • Education Level: Middle
  • # of students: 1,480
  • # of teachers: 63
NA
GreatSchools Rating

Arbor View High School

  • Education Level: High
  • # of students: 2,878
  • # of teachers: 116
9
GreatSchools Rating
 

$616,500$753,500$685,000

PURCHASE PRICE

$3,222$3,938$3,580

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,580
EXPENSES Loan Payment -$2,379
Property Tax -$507
Property Insurance -$123
Property Management Fees -$119
CASH FLOW
$451

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.

$685,000

PROJECTED PRICE

$3,580

PROJECTED RENT

0.52%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.05%
Appreciation Year (1-5) 6.7%
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$500k$1.0M$1.5M$2.0M$2.5M

PROJECTED ANNUAL CASH FLOW

11530$0.0$10k$20k$30k$40k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$500k$1.0M$1.5M$2.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$187,275

INVESTMENT

$187,275

Down Payment
$171,250
Rehab Estimate
$5,750
Closing Costs
$10,275

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 35% down payment or higher enables the proceeds from the asset to cover all costs.

$2,379

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $171,250
Loan Amount $513,750
See What Happens When You Reinvest Cash Flow

9.33

YEARS SAVED

$89,182

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,580

    LIST RENT
  • $0.72

    LIST RENT PER SQFT
  • $3,541

    COMP ESTIMATED VALUE
  • $0.71

    COMP AVG. RENT PER SQFT
Comps Range
$2,675
1$2,6752$3,5803$3,8504$4,095
$4,095
RENT COMPS ANALYSIS
  • 9024 Rockville Avenue Las Vegas, NV 2
    • 6 beds 4 baths ∙ 4,964 Sqft ∙ Built 2003 6 beds 4 baths ∙ 4,964 Sqft ∙ Built 2003
    • Rent
    • Rent Per SQFT
    •  
    • $3,580
    • $0.72
    •  
  • 9313 Grand Gate Street Las Vegas, NV 1
    • 5 beds 4 baths ∙ 4,964 Sqft ∙ Built 2001 5 beds 4 baths ∙ 4,964 Sqft ∙ Built 2001
    LEASED 08/18/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,675
    • $0.54
    •  
  • 9021 Glenistar Gate Avenue Las Vegas, NV 3
    • 6 beds 4 baths ∙ 4,964 Sqft ∙ Built 2002 6 beds 4 baths ∙ 4,964 Sqft ∙ Built 2002
    LEASED 10/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,850
    • $0.78
    •  
  • 8820 Buffalo Cloud Avenue Las Vegas, NV 4
    • 5 beds 4 baths ∙ 4,964 Sqft ∙ Built 2000 5 beds 4 baths ∙ 4,964 Sqft ∙ Built 2000
    LEASED 12/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $4,095
    • $0.82
    •  
PROPERTY LISTING DETAILS
Jared A English
1.888.229.2009
Congress Realty
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2261127
Last Updated: 01/12/2021
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