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905 Old Creek Way North Las Vegas, NV 89084

4 Beds 3 Baths 2,933 sqft Built 2016

$419,900

List Price

$2,140

$1.9K - $2.4K

Rent Est.

PROPERTY INFO

January 17, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2016
  • Price/Sqft : $143.16
  • 2 Days on Market
  • MLS # : 2262101
  • Updated Date : 01/17/2021 at 03:31
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,933 sqft
  • Baths : 2 full , 1 half
Listing Agent

Era Brokers Consolidated

Listing Agent's Description

BEAUTIFUL HOME WITH OPEN FLOORPLAN * TWO PRIMARY BEDROOMS! * COVERED FRONT PORTCH * GEN-SUITE DOWNSTAIRS FEATURES ITS OWN BATH AND KITCHENETTE * PERFECT FOR TEENAGER OR MOTHER-IN-LAW SUITE * FAMILY ROOM FEATURES LARGE WINDOWS * KITCHEN BOASTS GRANITE COUNTERTOPS, BREAKFAST BAR, UPG APPLIANCES, BUILT-IN MICROWAVE, PENDENT LIGHTS, PANTRY, LOTS OF CABINETS AND COUNTERS * UNIQUE RAISED PANEL DOORS * SPACIOUS SECOND PRIMARY BEDROOM UPSTAIRS WITH LARGE BATHROOM AND HUGE WALK-IN CLOSET * THREE CAR GARAGE * GIANT 2ND FLOOR LAUNDRY ROOM WITH EXTRA STORAGE SPACE * LONG DRIVEWAY * EZ-CARE LANDSCAPING * COVERED PATIO * NEAR 215, 95, DINING, AND SHOPPING! * Please note: refrigerator in kitchen is not included and will be replaced with refrigerator near stairway *

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • As the largest share, Las Vegas metro contributes to 75.1% of Nevada state's economy i.e. Gross State Product (USMayors.org, 2018)

PRICE & RENT TRENDS

Neighborhood: El Dorado

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320k340kPrice in $110k347k

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

Neighborhood: El Dorado

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21000105011001150120012501300135014001450150015501600Rent in $9671606

* 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
Don E. Hayden Elementary School Primary Regular 702 38 6
Brian And Teri Cram Middle School Middle Regular 1,568 65 NA
Legacy High School High Regular 2,819 119 3

Don E. Hayden Elementary School

  • Education Level: Primary
  • # of students: 702
  • # of teachers: 38
6
GreatSchools Rating

Brian And Teri Cram Middle School

  • Education Level: Middle
  • # of students: 1,568
  • # of teachers: 65
NA
GreatSchools Rating

Legacy High School

  • Education Level: High
  • # of students: 2,819
  • # of teachers: 119
3
GreatSchools Rating
 

$377,910$461,890$419,900

PURCHASE PRICE

$1,926$2,354$2,140

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,140
EXPENSES Loan Payment -$1,458
Property Tax -$379
Property Insurance -$84
Property Management Fees -$119
CASH FLOW
$100

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.

$419,900

PROJECTED PRICE

$2,140

PROJECTED RENT

0.51%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.96%
Appreciation Year (1-5) 8.8%
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$1.6M

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$1.4M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$117,024

INVESTMENT

$117,024

Down Payment
$104,975
Rehab Estimate
$5,750
Closing Costs
$6,299

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,458

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $104,975
Loan Amount $314,925
See What Happens When You Reinvest Cash Flow

6.92

YEARS SAVED

$34,719

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,140

    LIST RENT
  • $0.73

    LIST RENT PER SQFT
  • $2,207

    COMP ESTIMATED VALUE
  • $0.75

    COMP AVG. RENT PER SQFT
Comps Range
$2,050
1$2,0502$2,1403$2,2004$2,2855$2,450
$2,450
RENT COMPS ANALYSIS
  • 905 Old Creek Way North Las Vegas, NV 2
    • 4 beds 3 baths ∙ 2,933 Sqft ∙ Built 2016 4 beds 3 baths ∙ 2,933 Sqft ∙ Built 2016
    • Rent
    • Rent Per SQFT
    •  
    • $2,140
    • $0.73
    •  
  • 112 Delighted Avenue North Las Vegas, NV 1
    • 3 beds 3 baths ∙ 3,036 Sqft ∙ Built 2008 3 beds 3 baths ∙ 3,036 Sqft ∙ Built 2008
    LEASED 03/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,050
    • $0.68
    •  
  • 6733 Towerstone Street North Las Vegas, NV 3
    • 4 beds 3 baths ∙ 2,934 Sqft ∙ Built 2017 4 beds 3 baths ∙ 2,934 Sqft ∙ Built 2017
    LEASED 05/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $0.75
    •  
  • 6437 Diamond Point Court North Las Vegas, NV 4
    • 4 beds 3 baths ∙ 3,092 Sqft ∙ Built 2005 4 beds 3 baths ∙ 3,092 Sqft ∙ Built 2005
    LEASED 12/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,285
    • $0.74
    •  
  • 6608 Towerstone Street North Las Vegas, NV 5
    • 4 beds 3 baths ∙ 2,934 Sqft ∙ Built 2016 4 beds 3 baths ∙ 2,934 Sqft ∙ Built 2016
    LEASED 10/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,450
    • $0.84
    •  
PROPERTY LISTING DETAILS
Brandon Boyer
1.702.592.2969
Era Brokers Consolidated
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2262101
Last Updated: 01/17/2021
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