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9172 West Richmar Avenue Las Vegas, NV 89178

4 Beds 2 Baths 2,552 sqft Built 2006

$388,000

List Price

$1,550

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

November 15, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2006
  • Price/Sqft : $152.04
  • 2 Days on Market
  • MLS # : 2248334
  • Updated Date : 11/14/2020 at 21:26
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,552 sqft
  • Baths : 2 full
Listing Agent

Exp Realty

Listing Agent's Description

Beautiful 2 story near Mountains Edge, 4 bedrooms + 1 Den + 1 loft. 3 car garage!!! Low HOA. Vaulted Ceilings at entry, laminate wood flooring in living and family room. Brand new carpet in 2nd floor. New paint throughout. Easy to maintain backyard with patio. Wait till you check out the neighbors!

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
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
 

$349,200$426,800$388,000

PURCHASE PRICE

$1,395$1,705$1,550

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,550
EXPENSES Loan Payment -$1,432
Property Tax -$274
Property Insurance -$77
Property Management Fees -$119
CASH FLOW
-$351

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.

$388,000

PROJECTED PRICE

$1,550

PROJECTED RENT

0.40%

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

PROJECTED ANNUAL CASH FLOW

11530-$5.0k$0.0$5.0k$10k

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$108,570

INVESTMENT

$108,570

Down Payment
$97,000
Rehab Estimate
$5,750
Closing Costs
$5,820

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,432

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $97,000
Loan Amount $291,000
See What Happens When You Reinvest Cash Flow

1.67

YEARS SAVED

$4,635

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,550

    LIST RENT
  • $0.61

    LIST RENT PER SQFT
  • $1,735

    COMP ESTIMATED VALUE
  • $0.68

    COMP AVG. RENT PER SQFT
Comps Range
$1,550
1$1,5502$1,6503$1,6504$1,7005$1,725
$1,725
RENT COMPS ANALYSIS
  • 9172 West Richmar Avenue Las Vegas, NV 1
    • 4 beds 2 baths ∙ 2,552 Sqft ∙ Built 2006 4 beds 2 baths ∙ 2,552 Sqft ∙ Built 2006
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $0.61
    •  
  • 9590 Bouncing Ball Street Las Vegas, NV 2
    • 4 beds 3 baths ∙ 2,398 Sqft ∙ Built 2007 4 beds 3 baths ∙ 2,398 Sqft ∙ Built 2007
    property image
    LEASED 01/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.69
    •  
  • 9161 Dutch Oven Court Las Vegas, NV 3
    • 5 beds 3 baths ∙ 2,552 Sqft ∙ Built 2005 5 beds 3 baths ∙ 2,552 Sqft ∙ Built 2005
    property image
    LEASED 05/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.65
    •  
  • 9591 Bouncing Ball Las Vegas, NV 4
    • 4 beds 3 baths ∙ 2,583 Sqft ∙ Built 2007 4 beds 3 baths ∙ 2,583 Sqft ∙ Built 2007
    property image
    LEASED 05/25/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $0.66
    •  
  • 9183 Sunken Meadow Avenue Las Vegas, NV 5
    • 5 beds 2 baths ∙ 2,400 Sqft ∙ Built 2006 5 beds 2 baths ∙ 2,400 Sqft ∙ Built 2006
    property image
    LEASED 12/20/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,725
    • $0.72
    •  
PROPERTY LISTING DETAILS
Yvonne Khoo
1.702.318.1882
Exp Realty
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2248334
Last Updated: 11/14/2020
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