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917 Ariel Heights Avenue Las Vegas, NV 89138

3 Beds 3 Baths 1,780 sqft Built 2020

$549,950

List Price

$2,070

$1.9K - $2.3K

Rent Est.

PROPERTY INFO

Built 2020 NEW CONSTRUCTION
January 09, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2020
  • Price/Sqft : $308.96
  • 4 Days on Market
  • MLS # : 2260492
  • Updated Date : 01/09/2021 at 05:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,780 sqft
  • Baths : 2 full , 1 half
Listing Agent

Real Estate Consultants Of Nv

Listing Agent's Description

Richmond American Model Home located in the master-planned community of Summerlin. Features include deluxe master bath, 9' ceilings and 8' doors throughout, upgraded and additional insulation, extended covered patio, Elements slate appliance pkg w/counter-depth French door refrigerator, washer/dryer, Premier maple cabinets w/painted linen finish and door hardware, hall linen cabinets, security system, upgraded quartz countertops at kitchen and bathrooms; tile backsplash at kitchen, upgraded carpet at bedrooms, loft, and stairwell; upgraded 12"x24" ceramic tile flooring throughout remainder of home; two-tone interior paint, upgraded interior trim pkg., upgraded and additional lighting, ceiling fans, laundry cabinets, home theater prewire, upgraded stainless-steel bath faucets and accessories, contemporary wood and stainless-steel stair rail w/smoke finish, 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

Zip Code: 89138

ZipNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450kPrice in $119k476k

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

Zip Code: 89138

ZipNIR Market*CityMarket2010Year20002019 Q21200140016001800200022002400Rent in $10762575

* 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
Billy And Rosemary Vassiliadis Elementary School Primary Unknown NA
Sig Rogich Middle School Middle Regular 1,845 70 NA
Palo Verde High School High Regular 3,024 114 9

Billy And Rosemary Vassiliadis Elementary School

  • Education Level: Primary
  • # of students:
  • # of teachers:
NA
GreatSchools Rating

Sig Rogich Middle School

  • Education Level: Middle
  • # of students: 1,845
  • # of teachers: 70
NA
GreatSchools Rating

Palo Verde High School

  • Education Level: High
  • # of students: 3,024
  • # of teachers: 114
9
GreatSchools Rating
 

$494,955$604,945$549,950

PURCHASE PRICE

$1,863$2,277$2,070

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,070
EXPENSES Loan Payment -$1,910
Property Tax -$340
Property Insurance -$62
Property Management Fees -$119
CASH FLOW
-$361

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.

$549,950

PROJECTED PRICE

$2,070

PROJECTED RENT

0.38%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.05%
Appreciation Year (1-5) 8.1%
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-$5.0k$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$1.6M$1.8M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$147,737

INVESTMENT

$147,737

Down Payment
$137,488
Rehab Estimate
$2,000
Closing Costs
$8,249

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$1,910

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $137,488
Loan Amount $412,463
See What Happens When You Reinvest Cash Flow

2.42

YEARS SAVED

$10,107

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,070

    LIST RENT
  • $1.16

    LIST RENT PER SQFT
  • $2,083

    COMP ESTIMATED VALUE
  • $1.17

    COMP AVG. RENT PER SQFT
Comps Range
$2,050
1$2,0502$2,0703$2,1504$2,1505$2,400
$2,400
RENT COMPS ANALYSIS
  • 917 Ariel Heights Avenue Las Vegas, NV 2
    • 3 beds 3 baths ∙ 1,780 Sqft ∙ Built 2020 3 beds 3 baths ∙ 1,780 Sqft ∙ Built 2020
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,070
    • $1.16
    •  
  • 12545 Skylight View Street Las Vegas, NV 1
    • 4 beds 3 baths ∙ 1,800 Sqft ∙ Built 2019 4 beds 3 baths ∙ 1,800 Sqft ∙ Built 2019
    property image
    LEASED 04/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,050
    • $1.14
    •  
  • 897 Cirrus Cloud Avenue Las Vegas, NV 3
    • 3 beds 3 baths ∙ 1,810 Sqft ∙ Built 2018 3 beds 3 baths ∙ 1,810 Sqft ∙ Built 2018
    property image
    LEASED 03/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,150
    • $1.19
    •  
  • 12204 Capilla Real Avenue Las Vegas, NV 4
    • 3 beds 3 baths ∙ 1,975 Sqft ∙ Built 2005 3 beds 3 baths ∙ 1,975 Sqft ∙ Built 2005
    property image
    LEASED 10/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,150
    • $1.09
    •  
  • 742 Rogue Wave Las Vegas, NV 5
    • 3 beds 3 baths ∙ 1,902 Sqft ∙ Built 2019 3 beds 3 baths ∙ 1,902 Sqft ∙ Built 2019
    property image
    LEASED 06/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,400
    • $1.26
    •  
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 #: 2260492
Last Updated: 01/09/2021
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