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912 Appaloosa Hills Avenue North Las Vegas, NV 89081

3 Beds 3 Baths 1,595 sqft Built 2006

$259,000

List Price

$1,420

$1.3K - $1.6K

Rent Est.

PROPERTY INFO

December 11, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2006
  • Price/Sqft : $162.38
  • 4 Days on Market
  • MLS # : 2254996
  • Updated Date : 12/11/2020 at 13:28
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,595 sqft
  • Baths : 2 full , 1 half
Listing Agent

Rossum Realty Unlimited

Listing Agent's Description

Freshly renovated with NEW WOOD LAMINATE, CARPET AND PAINT throughout. Under $260,000! GATED Community with central PARK and Playground area. Bright open floor plan with breakfast bar overlooking living area. Large master bedroom with separate tub and shower, double sinks & walk-in closet. Secondary bedrooms upstairs, plus loft. Half-bath downstairs. Nice sized backyard, private 2 car garage. Close to 215-freeway access, Nellis AFB and lots of shopping. Extra guest parking nearby.

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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)

PRICE & RENT TRENDS

Neighborhood: North Las Vegas

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260k280kPrice in $84k296k

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

Neighborhood: North Las Vegas

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21000105011001150120012501300135014001450150015501600Rent in $9651603

* 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
Don E. Hayden Elementary School Primary Regular 702 38 6
Carroll M Johnston Middle School Middle Regular 1,365 58 NA
Legacy High School High Regular 2,819 119 3

Don E. Hayden Elementary School

  • Education Level: Primary
  • # of students: 702
  • # of teachers: 38
6
GreatSchools Rating

Carroll M Johnston Middle School

  • Education Level: Middle
  • # of students: 1,365
  • # of teachers: 58
NA
GreatSchools Rating

Legacy High School

  • Education Level: High
  • # of students: 2,819
  • # of teachers: 119
3
GreatSchools Rating
 

$233,100$284,900$259,000

PURCHASE PRICE

$1,278$1,562$1,420

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,420
EXPENSES Loan Payment -$956
Property Tax -$215
Property Insurance -$58
Property Management Fees -$119
CASH FLOW
$72

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 17% of earned rent to cover both maintenance and periods of vacancy.

$259,000

PROJECTED PRICE

$1,420

PROJECTED RENT

0.55%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.75%
Appreciation Year (1-5) 11.1%
Maintenance Year (1-5) 8.00%
Vacancy 8.50%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$200k$400k$600k$800k$1.0M

PROJECTED ANNUAL CASH FLOW

11530-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k$16k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$74,385

INVESTMENT

$74,385

Down Payment
$64,750
Rehab Estimate
$5,750
Closing Costs
$3,885

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 45% down payment or higher enables the proceeds from the asset to cover all costs.

$956

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $64,750
Loan Amount $194,250
See What Happens When You Reinvest Cash Flow

6.67

YEARS SAVED

$24,331

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,420

    LIST RENT
  • $0.89

    LIST RENT PER SQFT
  • $1,416

    COMP ESTIMATED VALUE
  • $0.89

    COMP AVG. RENT PER SQFT
Comps Range
$1,350
1$1,3502$1,3953$1,4204$1,4505$1,550
$1,550
RENT COMPS ANALYSIS
  • 912 Appaloosa Hills Avenue North Las Vegas, NV 3
    • 3 beds 3 baths ∙ 1,595 Sqft ∙ Built 2006 3 beds 3 baths ∙ 1,595 Sqft ∙ Built 2006
    • Rent
    • Rent Per SQFT
    •  
    • $1,420
    • $0.89
    •  
  • 1017 Sunny Acres Avenue #- North Las Vegas, NV 1
    • 3 beds 3 baths ∙ 1,505 Sqft ∙ Built 2007 3 beds 3 baths ∙ 1,505 Sqft ∙ Built 2007
    LEASED 03/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,350
    • $0.90
    •  
  • 1236 Shades End Avenue #0 North Las Vegas, NV 2
    • 3 beds 3 baths ∙ 1,595 Sqft ∙ Built 2005 3 beds 3 baths ∙ 1,595 Sqft ∙ Built 2005
    LEASED 03/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,395
    • $0.87
    •  
  • 1013 Appaloosa Hills Avenue #0 North Las Vegas, NV 4
    • 3 beds 3 baths ∙ 1,595 Sqft ∙ Built 2005 3 beds 3 baths ∙ 1,595 Sqft ∙ Built 2005
    LEASED 11/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $0.91
    •  
  • 924 Appaloosa Hills Avenue North Las Vegas, NV 5
    • 3 beds 3 baths ∙ 1,788 Sqft ∙ Built 2005 3 beds 3 baths ∙ 1,788 Sqft ∙ Built 2005
    LEASED 09/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $0.87
    •  
PROPERTY LISTING DETAILS
Melanie G Higa
1.702.858.2948
Rossum Realty Unlimited
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2254996
Last Updated: 12/11/2020
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