Work with a dedicated Real Estate Advisor who will take your financial preferences and help you select and acquire properties that fit your criteria. Learn more

9040 Pennystone Avenue Las Vegas, NV 89134

2 Beds 2 Baths 1,653 sqft Built 1989

$421,000

List Price

$1,490

$1.3K - $1.6K

Rent Est.

PROPERTY INFO

November 11, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1989
  • Price/Sqft : $254.69
  • 5 Days on Market
  • MLS # : 2247609
  • Updated Date : 11/11/2020 at 15:18
CONSTRUCTION
  • Beds : 2
  • Floor Size : 1,653 sqft
  • Baths : 2 full
Listing Agent

King Realty Group

Listing Agent's Description

WOW! What an AMAZING renovation move-in ready home in Sun City Summerlin. Very popular San Marino model. GORGEOUS Fireplace with high ceilings! Brand new magazine worthy kitchen&baths. Custom white/slate shaker maple cabinets, quartz countertops, new stainless steel appliances plus designer fixtures. Maintenance free waterproof wood floor,new baseboards&paint. Need to see in person to appreciate it. Definitely A MUST SEE!

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: Sun City Summerlin

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320kPrice in $119k328k

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

Neighborhood: Sun City Summerlin

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21100115012001250130013501400145015001550160016501700Rent in $10671706

* 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 Lummis Elementary School Primary Regular 555 27 7
Ernest Becker Middle School Middle Regular 1,392 56 NA
Palo Verde High School High Regular 3,024 114 9

William Lummis Elementary School

  • Education Level: Primary
  • # of students: 555
  • # of teachers: 27
7
GreatSchools Rating

Ernest Becker Middle School

  • Education Level: Middle
  • # of students: 1,392
  • # of teachers: 56
NA
GreatSchools Rating

Palo Verde High School

  • Education Level: High
  • # of students: 3,024
  • # of teachers: 114
9
GreatSchools Rating
 

$378,900$463,100$421,000

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 -$1,553
Property Tax -$214
Property Insurance -$59
Property Management Fees -$119
CASH FLOW
-$455

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.

$421,000

PROJECTED PRICE

$1,490

PROJECTED RENT

0.35%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.96%
Appreciation Year (1-5) 9.1%
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-$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$117,315

INVESTMENT

$117,315

Down Payment
$105,250
Rehab Estimate
$5,750
Closing Costs
$6,315

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,553

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $105,250
Loan Amount $315,750
See What Happens When You Reinvest Cash Flow

1.25

YEARS SAVED

$2,721

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
  • $0.9

    LIST RENT PER SQFT
  • $1,653

    COMP ESTIMATED VALUE
  • $1

    COMP AVG. RENT PER SQFT
Comps Range
$1,490
1$1,4902$1,5503$1,6504$1,6505$1,795
$1,795
RENT COMPS ANALYSIS
  • 9040 Pennystone Avenue Las Vegas, NV 1
    • 2 beds 2 baths ∙ 1,653 Sqft ∙ Built 1989 2 beds 2 baths ∙ 1,653 Sqft ∙ Built 1989
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,490
    • $0.90
    •  
  • 8702 Harwich Las Vegas, NV 2
    • 2 beds 3 baths ∙ 1,621 Sqft ∙ Built 1996 2 beds 3 baths ∙ 1,621 Sqft ∙ Built 1996
    property image
    LEASED 05/25/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $0.96
    •  
  • 2825 Greenview Court Las Vegas, NV 3
    • 2 beds 2 baths ∙ 1,653 Sqft ∙ Built 1988 2 beds 2 baths ∙ 1,653 Sqft ∙ Built 1988
    property image
    LEASED 06/26/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $1.00
    •  
  • 9236 January Drive Las Vegas, NV 4
    • 2 beds 1 baths ∙ 1,585 Sqft ∙ Built 1993 2 beds 1 baths ∙ 1,585 Sqft ∙ Built 1993
    property image
    LEASED 05/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $1.04
    •  
  • 8524 Spyrun Drive Las Vegas, NV 5
    • 2 beds 2 baths ∙ 1,804 Sqft ∙ Built 1989 2 beds 2 baths ∙ 1,804 Sqft ∙ Built 1989
    property image
    LEASED 10/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,795
    • $1.00
    •  
PROPERTY LISTING DETAILS
Krisztian Rozsa
1.702.569.0911
King Realty Group
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2247609
Last Updated: 11/11/2020
BESbswy