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911 Celebration Drive Las Vegas, NV 89123

3 Beds 3 Baths 1,792 sqft Built 1990

$328,000

List Price

$1,650

$1.5K - $1.8K

Rent Est.

PROPERTY INFO

FACTS
  • Built In 1990
  • Price/Sqft : $183.04
  • 12 Days on Market
  • MLS # : 2241977
  • Updated Date : 10/24/2020 at 02:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,792 sqft
  • Baths : 2 full , 1 half
Listing Agent

Keller Williams Realty Sw

Listing Agent's Description

This home is ready for you to make it your own! Great location off of 215 with easy access to everything Las Vegas. Formal Family Room and Dining room as you enter. The double height ceilings and voluminous windows will brighten your day.Living room has fireplace and open concept to kitchen and patio area. Additional updates in home with lots of cabinets and storage. Primary and Guest Rooms share 2nd floor but are set apart with room to grow. Primary Bedroom is large with double height windows with ensuite and walk-in closet. Garage has ample space with extra built in shelving for storage. Water Heater fairly new as well as Washer and Dryer! This home has been in the family for many years but ready for someone to come in, put their stamp on it and make it their long term home.

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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: Paradise

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280kPrice in $112k296k

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

Neighborhood: Paradise

NeighborhoodNIR Market*CityMarket2010Year20002019 Q211001150120012501300135014001450150015501600Rent in $10761606

* 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
Louis Wiener Jr Elementary School Primary Regular 701 39 7
Jack L. Schofield Middle School Middle Regular 1,332 51 NA
Silverado High School High Regular 2,263 94 5

Louis Wiener Jr Elementary School

  • Education Level: Primary
  • # of students: 701
  • # of teachers: 39
7
GreatSchools Rating

Jack L. Schofield Middle School

  • Education Level: Middle
  • # of students: 1,332
  • # of teachers: 51
NA
GreatSchools Rating

Silverado High School

  • Education Level: High
  • # of students: 2,263
  • # of teachers: 94
5
GreatSchools Rating
 

$295,200$360,800$328,000

PURCHASE PRICE

$1,485$1,815$1,650

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,650
EXPENSES Loan Payment -$1,210
Property Tax -$162
Property Insurance -$62
Property Management Fees -$119
CASH FLOW
$96

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.

$328,000

PROJECTED PRICE

$1,650

PROJECTED RENT

0.50%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.96%
Appreciation Year (1-5) 9.4%
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

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$92,670

INVESTMENT

$92,670

Down Payment
$82,000
Rehab Estimate
$5,750
Closing Costs
$4,920

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 40% down payment or higher enables the proceeds from the asset to cover all costs.

$1,210

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $82,000
Loan Amount $246,000
See What Happens When You Reinvest Cash Flow

7.58

YEARS SAVED

$37,051

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,650

    LIST RENT
  • $0.92

    LIST RENT PER SQFT
  • $1,653

    COMP ESTIMATED VALUE
  • $0.92

    COMP AVG. RENT PER SQFT
Comps Range
$1,550
1$1,5502$1,6373$1,6504$1,6505$1,800
$1,800
RENT COMPS ANALYSIS
  • 911 Celebration Drive Las Vegas, NV 4
    • 3 beds 3 baths ∙ 1,792 Sqft ∙ Built 1990 3 beds 3 baths ∙ 1,792 Sqft ∙ Built 1990
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.92
    •  
  • 868 Brass Ring Las Vegas, NV 1
    • 3 beds 3 baths ∙ 1,890 Sqft ∙ Built 1990 3 beds 3 baths ∙ 1,890 Sqft ∙ Built 1990
    LEASED 06/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $0.82
    •  
  • 7988 Counterpoint Lane Las Vegas, NV 2
    • 3 beds 3 baths ∙ 1,734 Sqft ∙ Built 1990 3 beds 3 baths ∙ 1,734 Sqft ∙ Built 1990
    LEASED 02/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,637
    • $0.94
    •  
  • 8132 Vision Street #n/a Las Vegas, NV 3
    • 3 beds 2 baths ∙ 1,639 Sqft ∙ Built 1990 3 beds 2 baths ∙ 1,639 Sqft ∙ Built 1990
    LEASED 07/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $1.01
    •  
  • 7861 Waltz Street Las Vegas, NV 5
    • 3 beds 3 baths ∙ 1,967 Sqft ∙ Built 1996 3 beds 3 baths ∙ 1,967 Sqft ∙ Built 1996
    LEASED 07/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $0.92
    •  
PROPERTY LISTING DETAILS
Daniel L Buckle
1.702.904.0011
Keller Williams Realty Sw
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2241977
Last Updated: 10/24/2020
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