Work with a dedicated Real Estate Advisor who will take your financial preferences and help you select and acquire properties that fit your criteria. Learn more

9116 Canyon Magic Avenue Las Vegas, NV 89129

4 Beds 3 Baths 2,129 sqft Built 1995

$325,000

List Price

$1,570

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

November 02, 2020 RECENTLY ADDED
FACTS
  • Built In 1995
  • Price/Sqft : $152.65
  • 2 Days on Market
  • MLS # : 2232769
  • Updated Date : 11/02/2020 at 16:26
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,129 sqft
  • Baths : 3 full
Listing Agent

Re/max Advantage

Listing Agent's Description

Awesome 2 story home in the heart of the NW. 4 bedrooms, 3 car garage. Open floor plan with formal living room & dining room, separate family room. 1 bedroom downstairs and 3 bedrooms upstairs. Separate laundry room. Large master bedroom with walk in closet. Master bath with dual sinks, separate shower. Must see and wont last long.

SEE MORE

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: Lone Mountain

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320kPrice in $119k326k

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

Neighborhood: Lone Mountain

NeighborhoodNIR Market*CityMarket2010Year20002019 Q211001150120012501300135014001450150015501600Rent in $10701616

* 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
Edith Garehime Elementary School Primary Regular 631 32 7
Irwin And Susan Molasky Junior High School Middle Regular 1,131 50 NA
Centennial High School High Regular 3,055 124 6

Edith Garehime Elementary School

  • Education Level: Primary
  • # of students: 631
  • # of teachers: 32
7
GreatSchools Rating

Irwin And Susan Molasky Junior High School

  • Education Level: Middle
  • # of students: 1,131
  • # of teachers: 50
NA
GreatSchools Rating

Centennial High School

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

$292,500$357,500$325,000

PURCHASE PRICE

$1,413$1,727$1,570

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,570
EXPENSES Loan Payment -$1,199
Property Tax -$208
Property Insurance -$68
Property Management Fees -$119
CASH FLOW
-$24

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.

$325,000

PROJECTED PRICE

$1,570

PROJECTED RENT

0.48%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.96%
Appreciation Year (1-5) 10.3%
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

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$91,875

INVESTMENT

$91,875

Down Payment
$81,250
Rehab Estimate
$5,750
Closing Costs
$4,875

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 50% down payment or higher enables the proceeds from the asset to cover all costs.

$1,199

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $81,250
Loan Amount $243,750
See What Happens When You Reinvest Cash Flow

5.58

YEARS SAVED

$23,209

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,570

    LIST RENT
  • $0.74

    LIST RENT PER SQFT
  • $1,671

    COMP ESTIMATED VALUE
  • $0.79

    COMP AVG. RENT PER SQFT
Comps Range
$1,570
1$1,5702$1,6003$1,6954$1,6955$1,795
$1,795
RENT COMPS ANALYSIS
  • 9116 Canyon Magic Avenue Las Vegas, NV 1
    • 4 beds 3 baths ∙ 2,129 Sqft ∙ Built 1995 4 beds 3 baths ∙ 2,129 Sqft ∙ Built 1995
    • Rent
    • Rent Per SQFT
    •  
    • $1,570
    • $0.74
    •  
  • 3336 Red Lodge Drive Las Vegas, NV 2
    • 4 beds 3 baths ∙ 2,080 Sqft ∙ Built 1997 4 beds 3 baths ∙ 2,080 Sqft ∙ Built 1997
    LEASED 07/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $0.77
    •  
  • 3320 Campbell Road Las Vegas, NV 3
    • 3 beds 3 baths ∙ 2,129 Sqft ∙ Built 1996 3 beds 3 baths ∙ 2,129 Sqft ∙ Built 1996
    LEASED 12/30/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $0.80
    •  
  • 8709 Texas Bronco Avenue #0 Las Vegas, NV 4
    • 4 beds 2 baths ∙ 2,221 Sqft ∙ Built 1995 4 beds 2 baths ∙ 2,221 Sqft ∙ Built 1995
    LEASED 06/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $0.76
    •  
  • 8724 Texas Ranger Las Vegas, NV 5
    • 4 beds 2 baths ∙ 2,221 Sqft ∙ Built 1995 4 beds 2 baths ∙ 2,221 Sqft ∙ Built 1995
    LEASED 04/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,795
    • $0.81
    •  
PROPERTY LISTING DETAILS
Kenneth C Ravago
1.702.714.1536
Re/max Advantage
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2232769
Last Updated: 11/02/2020
BESbswy