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9093 Spur Creek Avenue Las Vegas, NV 89178

4 Beds 2 Baths 2,550 sqft Built 2009

$469,000

List Price

$1,920

$1.7K - $2.1K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
February 19, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2009
  • Price/Sqft : $183.92
  • 4 Days on Market
  • MLS # : 2271277
  • Updated Date : 02/19/2021 at 01:30
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,550 sqft
  • Baths : 2 full
Listing Agent

Realty One Group, Inc

Listing Agent's Description

Beautiful designed and upgraded home. Upgraded Tile and High-End Carpet Floors, Formal Living & Dining, Den off Family Room, Kitchen with Granite Island, Upgraded Cabinets, Stainless Steel Appliances, Eat-in Nook and Pantry. Upstairs with 2 lofts, 4 bedrooms, den downstairs could be easily converted to a bedroom. Master with custom window shutters throughout the house. Master Bath features a separate shower and bathtub. Large Backyard.

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: Mountain Edge

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320k340k360kPrice in $119k362k

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

Neighborhood: Mountain Edge

NeighborhoodNIR Market*CityMarket2010Year20002019 Q211001200130014001500160017001800Rent in $10391875

* 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 V. Wright Elementary School Primary Regular 1,256 62 8
Wilbur And Theresa Faiss Middle School Middle Regular 1,409 61 NA
Sierra Vista High School High Regular 2,396 88 4

William V. Wright Elementary School

  • Education Level: Primary
  • # of students: 1,256
  • # of teachers: 62
8
GreatSchools Rating

Wilbur And Theresa Faiss Middle School

  • Education Level: Middle
  • # of students: 1,409
  • # of teachers: 61
NA
GreatSchools Rating

Sierra Vista High School

  • Education Level: High
  • # of students: 2,396
  • # of teachers: 88
4
GreatSchools Rating
 

$422,100$515,900$469,000

PURCHASE PRICE

$1,728$2,112$1,920

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,920
EXPENSES Loan Payment -$1,629
Property Tax -$294
Property Insurance -$77
Property Management Fees -$119
CASH FLOW
-$198

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.

$469,000

PROJECTED PRICE

$1,920

PROJECTED RENT

0.41%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.05%
Appreciation Year (1-5) 8.4%
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$1.6M

PROJECTED ANNUAL CASH FLOW

11530-$5.0k$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$130,035

INVESTMENT

$130,035

Down Payment
$117,250
Rehab Estimate
$5,750
Closing Costs
$7,035

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$1,629

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $117,250
Loan Amount $351,750
See What Happens When You Reinvest Cash Flow

3.58

YEARS SAVED

$15,330

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,920

    LIST RENT
  • $0.75

    LIST RENT PER SQFT
  • $1,925

    COMP ESTIMATED VALUE
  • $0.76

    COMP AVG. RENT PER SQFT
Comps Range
$1,828
1$1,8282$1,8353$1,8754$1,9205$2,100
$2,100
RENT COMPS ANALYSIS
  • 9093 Spur Creek Avenue Las Vegas, NV 4
    • 4 beds 2 baths ∙ 2,550 Sqft ∙ Built 2009 4 beds 2 baths ∙ 2,550 Sqft ∙ Built 2009
    • Rent
    • Rent Per SQFT
    •  
    • $1,920
    • $0.75
    •  
  • 9051 Palomino Park Court Las Vegas, NV 1
    • 3 beds 3 baths ∙ 2,481 Sqft ∙ Built 2006 3 beds 3 baths ∙ 2,481 Sqft ∙ Built 2006
    LEASED 08/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,828
    • $0.74
    •  
  • 9636 Cartwheel Street Las Vegas, NV 2
    • 4 beds 3 baths ∙ 2,398 Sqft ∙ Built 2007 4 beds 3 baths ∙ 2,398 Sqft ∙ Built 2007
    LEASED 02/04/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,835
    • $0.77
    •  
  • 8871 Oceanside Slopes Avenue Las Vegas, NV 3
    • 4 beds 3 baths ∙ 2,572 Sqft ∙ Built 2008 4 beds 3 baths ∙ 2,572 Sqft ∙ Built 2008
    LEASED 01/04/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,875
    • $0.73
    •  
  • 9751 Maspalomas Street Las Vegas, NV 5
    • 4 beds 4 baths ∙ 2,680 Sqft ∙ Built 2009 4 beds 4 baths ∙ 2,680 Sqft ∙ Built 2009
    LEASED 05/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $0.78
    •  
PROPERTY LISTING DETAILS
Konrad W Sychowicz
1.702.807.3773
Realty One Group, Inc
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2271277
Last Updated: 02/19/2021
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