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9155 Weeping Hollow Avenue Las Vegas, NV 89178

5 Beds 2 Baths 3,231 sqft Built 2006

$419,000

List Price

$2,050

$1.8K - $2.3K

Rent Est.

PROPERTY INFO

November 04, 2020 RECENTLY ADDED
FACTS
  • Built In 2006
  • Price/Sqft : $129.68
  • 5 Days on Market
  • MLS # : 2244852
  • Updated Date : 11/04/2020 at 18:33
CONSTRUCTION
  • Beds : 5
  • Floor Size : 3,231 sqft
  • Baths : 2 full
Listing Agent

Nevada Real Estate Corp

Listing Agent's Description

BEAUTIFUL MAINTAINED 5 BEDROOMS, 3 BATHROOMS, HIGHLY UPGRADED 2 STORY HOUSE IN THE SOUTHWEST, SPACIOUS FAMILY AND LIVING ROOM, UPGRADED CABINETS WITH GRANITE COUNTER TOP, FEATURE A HUGE ISLAND, A BREAKFAST NOOK LOOKING TO THE OUTSIDE BACKYARD, 20X20 TRAVERTINE STYLE TILES ON THE FIRST FLOOR, NEWLY PAINTED, GRANITE VANITY WITH THE UNDER MOUNT SINKS, ONE OF A KIND, THIS HOUSE FEATURE 2 SEPARATE LOFTS, UPGRADED RAILING, A MUST SEE

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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: Enterprise

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320k340k360kPrice in $119k362k

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

Neighborhood: Enterprise

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2100011001200130014001500160017001800Rent in $9981875

* 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
 

$377,100$460,900$419,000

PURCHASE PRICE

$1,845$2,255$2,050

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,050
EXPENSES Loan Payment -$1,546
Property Tax -$312
Property Insurance -$90
Property Management Fees -$119
CASH FLOW
-$16

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.

$419,000

PROJECTED PRICE

$2,050

PROJECTED RENT

0.49%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.05%
Appreciation Year (1-5) 9.8%
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$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$116,785

INVESTMENT

$116,785

Down Payment
$104,750
Rehab Estimate
$5,750
Closing Costs
$6,285

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,546

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $104,750
Loan Amount $314,250
See What Happens When You Reinvest Cash Flow

5.67

YEARS SAVED

$31,399

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,050

    LIST RENT
  • $0.63

    LIST RENT PER SQFT
  • $2,246

    COMP ESTIMATED VALUE
  • $0.7

    COMP AVG. RENT PER SQFT
Comps Range
$1,995
1$1,9952$2,0503$2,1004$2,1505$2,400
$2,400
RENT COMPS ANALYSIS
  • 9155 Weeping Hollow Avenue Las Vegas, NV 2
    • 4 beds 2 baths ∙ 3,231 Sqft ∙ Built 2006 4 beds 2 baths ∙ 3,231 Sqft ∙ Built 2006
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,050
    • $0.63
    •  
  • 8988 Oceanside Slopes Las Vegas, NV 1
    • 5 beds 3 baths ∙ 3,132 Sqft ∙ Built 2007 5 beds 3 baths ∙ 3,132 Sqft ∙ Built 2007
    property image
    LEASED 06/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,995
    • $0.64
    •  
  • 8722 Moreno Mountain Avenue Las Vegas, NV 3
    • 5 beds 1 baths ∙ 3,132 Sqft ∙ Built 2007 5 beds 1 baths ∙ 3,132 Sqft ∙ Built 2007
    property image
    LEASED 01/25/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $0.67
    •  
  • 8921 Bonneville Peak Court #0 Las Vegas, NV 4
    • 5 beds 3 baths ∙ 3,140 Sqft ∙ Built 2006 5 beds 3 baths ∙ 3,140 Sqft ∙ Built 2006
    property image
    LEASED 08/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,150
    • $0.68
    •  
  • 8704 Wildcat Canyon Avenue Las Vegas, NV 5
    • 4 beds 3 baths ∙ 3,035 Sqft ∙ Built 2004 4 beds 3 baths ∙ 3,035 Sqft ∙ Built 2004
    property image
    LEASED 09/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,400
    • $0.79
    •  
PROPERTY LISTING DETAILS
Amy Yu
1.702.338.3818
Nevada Real Estate Corp
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2244852
Last Updated: 11/04/2020
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