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9108 Eagle Ridge Drive Las Vegas, NV 89134

3 Beds 2 Baths 2,353 sqft Built 1993

$585,000

List Price

$2,300

$2.1K - $2.5K

Rent Est.

PROPERTY INFO

December 05, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1993
  • Price/Sqft : $248.62
  • 3 Days on Market
  • MLS # : 2253585
  • Updated Date : 12/04/2020 at 22:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,353 sqft
  • Baths : 2 full
Listing Agent

Realty One Group, Inc

Listing Agent's Description

STUNNING HOME ON THE GOLF COURSE, IN THE GATED TPC GOLF COUSE COMMUNITY!! SOARING CEILINGS UPON ENTRY. OPEN FLOOR PLAN, BEAUTIFUL HIGH END WOOD FLOORS DOWN STAIRS. FEATURES 3 BEDROOM UPSTAIRS, OPTIONAL 4 BEDROOM DOWN STAIRS. NEWLY REMODELED KITCHEN, OVER 100,000 WORTH OF UPGRADES.

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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: The Hills South

NeighborhoodNIR Market*CityMarket2010Year20002019200k300k400k500k600k700k800k900k1000k1100kPrice in $119k1126k

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

Neighborhood: The Hills South

NeighborhoodNIR Market*CityMarket2010Year20002019 Q215002000250030003500400045005000Rent in $10765266

* 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
 

$526,500$643,500$585,000

PURCHASE PRICE

$2,070$2,530$2,300

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,300
EXPENSES Loan Payment -$2,158
Property Tax -$276
Property Insurance -$73
Property Management Fees -$119
CASH FLOW
-$326

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.

$585,000

PROJECTED PRICE

$2,300

PROJECTED RENT

0.39%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.05%
Appreciation Year (1-5) 5.0%
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$25k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M$1.6M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$160,775

INVESTMENT

$160,775

Down Payment
$146,250
Rehab Estimate
$5,750
Closing Costs
$8,775

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,158

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $146,250
Loan Amount $438,750
See What Happens When You Reinvest Cash Flow

3.42

YEARS SAVED

$19,731

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,300

    LIST RENT
  • $0.98

    LIST RENT PER SQFT
  • $2,041

    COMP ESTIMATED VALUE
  • $0.87

    COMP AVG. RENT PER SQFT
Comps Range
$1,850
1$1,8502$1,8953$1,9954$1,9955$2,300
$2,300
RENT COMPS ANALYSIS
  • 9108 Eagle Ridge Drive Las Vegas, NV 5
    • 3 beds 2 baths ∙ 2,353 Sqft ∙ Built 1993 3 beds 2 baths ∙ 2,353 Sqft ∙ Built 1993
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $0.98
    •  
  • 9224 Pitching Wedge Drive Las Vegas, NV 1
    • 4 beds 2 baths ∙ 2,261 Sqft ∙ Built 1993 4 beds 2 baths ∙ 2,261 Sqft ∙ Built 1993
    LEASED 02/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $0.82
    •  
  • 1125 Invitational Drive Las Vegas, NV 2
    • 3 beds 3 baths ∙ 2,169 Sqft ∙ Built 1997 3 beds 3 baths ∙ 2,169 Sqft ∙ Built 1997
    LEASED 03/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,895
    • $0.87
    •  
  • 9133 Eagle Ridge Drive #na Las Vegas, NV 3
    • 3 beds 3 baths ∙ 2,261 Sqft ∙ Built 1994 3 beds 3 baths ∙ 2,261 Sqft ∙ Built 1994
    LEASED 02/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,995
    • $0.88
    •  
  • 8528 Sierra Cima Lane Las Vegas, NV 4
    • 3 beds 3 baths ∙ 2,210 Sqft ∙ Built 1994 3 beds 3 baths ∙ 2,210 Sqft ∙ Built 1994
    LEASED 11/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,995
    • $0.90
    •  
PROPERTY LISTING DETAILS
Michael Wilson
1.702.578.9685
Realty One Group, Inc
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2253585
Last Updated: 12/04/2020
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