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920 Rancho Circle Las Vegas, NV 89107

4 Beds 3 Baths 4,596 sqft Built 1955

$1,295,000

List Price

$4,220

$4K - $4.5K

Rent Est.

PROPERTY INFO

November 21, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1955
  • Price/Sqft : $281.77
  • 3 Days on Market
  • MLS # : 2249807
  • Updated Date : 11/20/2020 at 18:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 4,596 sqft
  • Baths : 3 full
Listing Agent

Impress Realty Llc

Listing Agent's Description

STUNNING RENOVATED HISTORIC HOME ON ONE OF THE LARGEST LOTS IN COMMUNITY (1.46 ACRES). THIS GREAT PROPERTY FEATURES:GUARD GATED, HARDWOOD FLOORS, RATE BRITISH AGA STOVE, CLASSIC HORSE STABLE CONVERTED GUEST QUARTERS, SPARKLING POOL, OPEN FLOOR PLAN, CIRCULAR DRIVEWAY, LUSH GROUNDS, LARGE OUTDOOR PATIO AND DETACHED 3-CAR GARAGE WITH UPSTAIRS OFFICE/GUEST ROOM.

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: Rancho Circle

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450k500k550k600k650kPrice in $119k692k

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

Neighborhood: Rancho Circle

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21200140016001800200022002400260028003000Rent in $10763166

* 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
Howard Wasden Elementary School Primary Regular 632 36 3
Hyde Park Middle School Middle Magnet 1,699 69 NA
Ed W. Clark High School High Magnet 3,066 129 7

Howard Wasden Elementary School

  • Education Level: Primary
  • # of students: 632
  • # of teachers: 36
3
GreatSchools Rating

Hyde Park Middle School

  • Education Level: Middle
  • # of students: 1,699
  • # of teachers: 69
NA
GreatSchools Rating

Ed W. Clark High School

  • Education Level: High
  • # of students: 3,066
  • # of teachers: 129
7
GreatSchools Rating
 

$1,165,500$1,424,500$1,295,000

PURCHASE PRICE

$3,798$4,642$4,220

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $4,220
EXPENSES Loan Payment -$4,778
Property Tax -$747
Property Insurance -$116
Property Management Fees -$119
CASH FLOW
-$1,540

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.

$1,295,000

PROJECTED PRICE

$4,220

PROJECTED RENT

0.33%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.05%
Appreciation Year (1-5) 12.1%
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$1.0M$2.0M$3.0M$4.0M$5.0M

PROJECTED ANNUAL CASH FLOW

11530-$30k-$20k-$10k$0.0$10k$20k$30k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$1.0M$2.0M$3.0M$4.0M$5.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$348,925

INVESTMENT

$348,925

Down Payment
$323,750
Rehab Estimate
$5,750
Closing Costs
$19,425

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 65% down payment or higher enables the proceeds from the asset to cover all costs.

$4,778

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $323,750
Loan Amount $971,250
See What Happens When You Reinvest Cash Flow

0.67

YEARS SAVED

$3,707

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $4,220

    LIST RENT
  • $0.92

    LIST RENT PER SQFT
  • $3,079

    COMP ESTIMATED VALUE
  • $0.67

    COMP AVG. RENT PER SQFT
Comps Range
$3,000
1$3,0002$4,220
$4,220
RENT COMPS ANALYSIS
  • 920 Rancho Circle Las Vegas, NV 2
    • 4 beds 3 baths ∙ 4,596 Sqft ∙ Built 1955 4 beds 3 baths ∙ 4,596 Sqft ∙ Built 1955
    • Rent
    • Rent Per SQFT
    •  
    • $4,220
    • $0.92
    •  
  • 230 Dalmatian Lane Las Vegas, NV 1
    • 5 beds 3 baths ∙ 4,498 Sqft ∙ Built 1970 5 beds 3 baths ∙ 4,498 Sqft ∙ Built 1970
    LEASED 11/20/19
    • Rent
    • Rent Per SQFT
    •  
    • $3,000
    • $0.67
    •  
PROPERTY LISTING DETAILS
Susan L Marlowe
1.702.301.4869
Impress Realty Llc
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2249807
Last Updated: 11/20/2020
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