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9163 Fairview Heights Street Las Vegas, NV 89113

4 Beds 3 Baths 2,309 sqft Built 2019

$519,950

List Price

$1,880

$1.7K - $2.1K

Rent Est.

PROPERTY INFO

Built 2019 NEW CONSTRUCTION
November 14, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2019
  • Price/Sqft : $225.18
  • 5 Days on Market
  • MLS # : 2248224
  • Updated Date : 11/13/2020 at 17:11
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,309 sqft
  • Baths : 3 full
Listing Agent

Real Estate Consultants Of Nv

Listing Agent's Description

** Richmond American Model Home ** - first-floor bedroom w/full bath, deluxe master bath, center-meet sliding doors at great room, 9' ceilings and 8' doors throughout, upgraded and additional insulation, additional windows, balcony and extended covered patio, Epicurean slate appliance package w/counter-depth refrigerator, Premier cherry cabinets w/slate finish and door hardware, washer/dryer, upgraded quartz kitchen, bath, and laundry countertops; tile backsplash at kitchen, upgraded Venetian bronze bath faucets and accessories, desk at loft, luxury vinyl flooring, upgraded carpet and ceramic tile flooring throughout; two-tone interior paint, upgraded interior trim pkg., laundry sink and cabinets, ceiling fans, additional and upgraded lighting, Mission style stair rails, home theater pkg., security system, complete landscaping, +much more!

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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)

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
Mark L. Fine Elementary School Primary Regular 1,001 51 6
Lawrence And Heidi Canarelli Middle School Middle Regular 1,802 70 NA
Sierra Vista High School High Regular 2,396 88 4

Mark L. Fine Elementary School

  • Education Level: Primary
  • # of students: 1,001
  • # of teachers: 51
6
GreatSchools Rating

Lawrence And Heidi Canarelli Middle School

  • Education Level: Middle
  • # of students: 1,802
  • # of teachers: 70
NA
GreatSchools Rating

Sierra Vista High School

  • Education Level: High
  • # of students: 2,396
  • # of teachers: 88
4
GreatSchools Rating
 

$467,955$571,945$519,950

PURCHASE PRICE

$1,692$2,068$1,880

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,880
EXPENSES Loan Payment -$1,918
Property Tax -$326
Property Insurance -$72
Property Management Fees -$119
CASH FLOW
-$555

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 11% of earned rent to cover both maintenance and periods of vacancy.

$519,950

PROJECTED PRICE

$1,880

PROJECTED RENT

0.36%

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) 3.00%
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$1.8M

PROJECTED ANNUAL CASH FLOW

11530-$10k-$5.0k$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$1.4M$1.6M$1.8M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$139,787

INVESTMENT

$139,787

Down Payment
$129,988
Rehab Estimate
$2,000
Closing Costs
$7,799

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 60% down payment or higher enables the proceeds from the asset to cover all costs.

$1,918

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $129,988
Loan Amount $389,963
See What Happens When You Reinvest Cash Flow

1.25

YEARS SAVED

$3,350

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,880

    LIST RENT
  • $0.81

    LIST RENT PER SQFT
  • $1,853

    COMP ESTIMATED VALUE
  • $0.8

    COMP AVG. RENT PER SQFT
Comps Range
$1,595
1$1,5952$1,8503$1,8804$2,0005$2,100
$2,100
RENT COMPS ANALYSIS
  • 9163 Fairview Heights Street Las Vegas, NV 3
    • 4 beds 3 baths ∙ 2,309 Sqft ∙ Built 2019 4 beds 3 baths ∙ 2,309 Sqft ∙ Built 2019
    • Rent
    • Rent Per SQFT
    •  
    • $1,880
    • $0.81
    •  
  • 8374 Pioneer Las Vegas, NV 1
    • 4 beds 3 baths ∙ 2,176 Sqft ∙ Built 2008 4 beds 3 baths ∙ 2,176 Sqft ∙ Built 2008
    LEASED 05/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $0.73
    •  
  • 9419 Rough Slate Court Las Vegas, NV 2
    • 4 beds 3 baths ∙ 2,356 Sqft ∙ Built 2006 4 beds 3 baths ∙ 2,356 Sqft ∙ Built 2006
    LEASED 03/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $0.79
    •  
  • 7889 Base Camp Avenue Las Vegas, NV 4
    • 3 beds 3 baths ∙ 2,397 Sqft ∙ Built 2006 3 beds 3 baths ∙ 2,397 Sqft ∙ Built 2006
    LEASED 11/16/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $0.83
    •  
  • 9854 River Trader Las Vegas, NV 5
    • 3 beds 3 baths ∙ 2,446 Sqft ∙ Built 2008 3 beds 3 baths ∙ 2,446 Sqft ∙ Built 2008
    LEASED 08/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $0.86
    •  
PROPERTY LISTING DETAILS
Frank J Gargano
1.702.596.2040
Real Estate Consultants Of Nv
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2248224
Last Updated: 11/13/2020
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