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9080 Drummer Bay Avenue Las Vegas, NV 89149

4 Beds 3 Baths 2,017 sqft Built 2017

$360,000

List Price

$1,730

$1.6K - $1.9K

Rent Est.

PROPERTY INFO

November 27, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2017
  • Price/Sqft : $178.48
  • 7 Days on Market
  • MLS # : 2250360
  • Updated Date : 11/28/2020 at 11:55
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,017 sqft
  • Baths : 2 full , 1 half
Listing Agent

Easy Street Realty Las Vegas

Listing Agent's Description

BEAUTIFUL 4 BED, 3 BATH. HOME IS LOCATED IN A CUL-DE-SAC. VERY LONG DRIVEWAY. STAINLESS STEEL APPLIANCES, ENERGY EFFICIENT USB PLUGS, TILE FLOORING.8 FT ENTRY & GARAGE DOOR. PAVER DRIVEWAY, CEILING FAN IN GREAT ROOM UPSTAIRS COMPUTER AREA.

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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: Centennial Hills

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320k340k360kPrice in $119k362k

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

Neighborhood: Centennial Hills

NeighborhoodNIR Market*CityMarket2010Year20002019 Q211001200130014001500160017001800Rent in $10761875

* 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
Marshall C. Darnell Elementary School Primary Regular 793 40 6
Edmundo Eddie Escobedo Sr Middle School Middle Regular 1,171 47 NA
Centennial High School High Regular 3,055 124 6

Marshall C. Darnell Elementary School

  • Education Level: Primary
  • # of students: 793
  • # of teachers: 40
6
GreatSchools Rating

Edmundo Eddie Escobedo Sr Middle School

  • Education Level: Middle
  • # of students: 1,171
  • # of teachers: 47
NA
GreatSchools Rating

Centennial High School

  • Education Level: High
  • # of students: 3,055
  • # of teachers: 124
6
GreatSchools Rating
 

$324,000$396,000$360,000

PURCHASE PRICE

$1,557$1,903$1,730

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,730
EXPENSES Loan Payment -$1,328
Property Tax -$298
Property Insurance -$66
Property Management Fees -$119
CASH FLOW
-$82

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.

$360,000

PROJECTED PRICE

$1,730

PROJECTED RENT

0.48%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.05%
Appreciation Year (1-5) 10.3%
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$1.4M

PROJECTED ANNUAL CASH FLOW

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

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$101,150

INVESTMENT

$101,150

Down Payment
$90,000
Rehab Estimate
$5,750
Closing Costs
$5,400

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 50% 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 $90,000
Loan Amount $270,000
See What Happens When You Reinvest Cash Flow

4.67

YEARS SAVED

$20,453

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,730

    LIST RENT
  • $0.86

    LIST RENT PER SQFT
  • $1,709

    COMP ESTIMATED VALUE
  • $0.85

    COMP AVG. RENT PER SQFT
Comps Range
$1,600
1$1,6002$1,6503$1,7004$1,7305$1,795
$1,795
RENT COMPS ANALYSIS
  • 9080 Drummer Bay Avenue Las Vegas, NV 4
    • 4 beds 3 baths ∙ 2,017 Sqft ∙ Built 2017 4 beds 3 baths ∙ 2,017 Sqft ∙ Built 2017
    • Rent
    • Rent Per SQFT
    •  
    • $1,730
    • $0.86
    •  
  • 6773 Browns Bays Court Las Vegas, NV 1
    • 4 beds 3 baths ∙ 1,935 Sqft ∙ Built 2015 4 beds 3 baths ∙ 1,935 Sqft ∙ Built 2015
    LEASED 11/25/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $0.83
    •  
  • 9004 Patrick Henry Avenue Las Vegas, NV 2
    • 4 beds 3 baths ∙ 2,045 Sqft ∙ Built 2004 4 beds 3 baths ∙ 2,045 Sqft ∙ Built 2004
    LEASED 10/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.81
    •  
  • 9028 Victor Creek Avenue Las Vegas, NV 3
    • 4 beds 2 baths ∙ 1,988 Sqft ∙ Built 2007 4 beds 2 baths ∙ 1,988 Sqft ∙ Built 2007
    LEASED 10/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $0.86
    •  
  • 9038 Drummer Bay Avenue Las Vegas, NV 5
    • 3 beds 3 baths ∙ 2,017 Sqft ∙ Built 2017 3 beds 3 baths ∙ 2,017 Sqft ∙ Built 2017
    LEASED 01/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,795
    • $0.89
    •  
PROPERTY LISTING DETAILS
Elvira Ramos
1.702.588.3150
Easy Street Realty Las Vegas
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2250360
Last Updated: 11/28/2020
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