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9032 Rusty Rifle Avenue Las Vegas, NV 89143

4 Beds 2 Baths 2,166 sqft Built 2004

$359,900

List Price

$1,570

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

December 02, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2004
  • Price/Sqft : $166.16
  • 6 Days on Market
  • MLS # : 2251745
  • Updated Date : 12/04/2020 at 13:45
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,166 sqft
  • Baths : 2 full
Listing Agent

Keller Williams Market Place

Listing Agent's Description

PREMIER NORTHWEST LOCATION (NORTHWEST IS BOOMING WITH GROWTH) SPRING MOUNTAIN RANCH COMMUNITY - NEARBY PARKS. 4 BEDROOMS, 3 BATHS, AND 3 CAR GARAGE (YES 3 Car Garage, their hard to find). PREVIOUS HOMEOWNER SAID THE CUSTOM IRON FRONT DOOR COST THEM $7,000. STONE ACCENTED FRONT OF HOME WITH BEAUTIFUIL PEBBLE TEC ENTRY STEPS. FRONT AND REAR BALCONIES WITH VIEWS. WROUGHT IRON STAIRCASE LEADS TO EITHER UPSTAIRS GREAT ROOM OR DOWNSTAIRS FAMILY ROOM - ISLAND KITCHEN. TWO BEDROOMS UPSTAIRS AND TWO BEDROOMS DOWNSTAIRS. UPSTAIRS AND DOWNSTAIRS LIVING ROOMS. HUGE OVERSIZED BACKYARD.... PLENTY OF ROOM FOR POOL AND MORE. BACKYARD CAN BE MADE INTO AN ENTERTAINERS DREAM YARD. FULL-LENGTH PATIO. MARBLE FLOORS IN MAIN AREA AND LAMINATE IN BEDROOMS AND DOWNSTAIRS. GAS FIREPLACE. RECESSED LIGHTING IN KITCHEN. BUILT-IN MICROWAVE. REFRIGERATOR. VANITY DESK IN MASTER BATH. LAUNDRY ROOM. TWO AUTOMATIC GARAGE DOOR OPENERS IN GARAGE. VERY CLEAN AND BRIGHT HOME. LOCATION, LOCATION, LOCATION!!!

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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: Spring Mountain Ranch

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320k340k360kPrice in $119k362k

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

Neighborhood: Spring Mountain Ranch

NeighborhoodNIR Market*CityMarket2010Year20002019 Q211001200130014001500160017001800Rent in $10661875

* 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
 

$323,910$395,890$359,900

PURCHASE PRICE

$1,413$1,727$1,570

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,570
EXPENSES Loan Payment -$1,328
Property Tax -$278
Property Insurance -$69
Property Management Fees -$119
CASH FLOW
-$224

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.

$359,900

PROJECTED PRICE

$1,570

PROJECTED RENT

0.44%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.05%
Appreciation Year (1-5) 9.7%
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$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$1.2M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$101,124

INVESTMENT

$101,124

Down Payment
$89,975
Rehab Estimate
$5,750
Closing Costs
$5,399

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 60% down payment or higher enables the proceeds from the asset to cover all costs.

$1,328

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $89,975
Loan Amount $269,925
See What Happens When You Reinvest Cash Flow

2.92

YEARS SAVED

$9,625

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,570

    LIST RENT
  • $0.72

    LIST RENT PER SQFT
  • $1,625

    COMP ESTIMATED VALUE
  • $0.75

    COMP AVG. RENT PER SQFT
Comps Range
$1,550
1$1,5502$1,5703$1,5954$1,5955$1,750
$1,750
RENT COMPS ANALYSIS
  • 9032 Rusty Rifle Avenue Las Vegas, NV 2
    • 4 beds 2 baths ∙ 2,166 Sqft ∙ Built 2004 4 beds 2 baths ∙ 2,166 Sqft ∙ Built 2004
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,570
    • $0.72
    •  
  • 9065 Pine Mission Avenue Las Vegas, NV 1
    • 3 beds 3 baths ∙ 2,067 Sqft ∙ Built 2004 3 beds 3 baths ∙ 2,067 Sqft ∙ Built 2004
    property image
    LEASED 12/24/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $0.75
    •  
  • 9040 Spinning Wheel Las Vegas, NV 3
    • 3 beds 3 baths ∙ 2,067 Sqft ∙ Built 2004 3 beds 3 baths ∙ 2,067 Sqft ∙ Built 2004
    property image
    LEASED 04/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $0.77
    •  
  • 8928 Iron Hitch Avenue #0 Las Vegas, NV 4
    • 4 beds 3 baths ∙ 2,208 Sqft ∙ Built 2000 4 beds 3 baths ∙ 2,208 Sqft ∙ Built 2000
    property image
    LEASED 08/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $0.72
    •  
  • 9020 Wolf Dancer Avenue Las Vegas, NV 5
    • 3 beds 3 baths ∙ 2,316 Sqft ∙ Built 2004 3 beds 3 baths ∙ 2,316 Sqft ∙ Built 2004
    property image
    LEASED 02/26/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.76
    •  
PROPERTY LISTING DETAILS
Gilbert G Gildore
1.702.461.8850
Keller Williams Market Place
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2251745
Last Updated: 12/04/2020
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