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9215 Martel Avenue Las Vegas, NV 89148

4 Beds 3 Baths 2,363 sqft Built 2015

$425,000

List Price

$1,950

$1.8K - $2.1K

Rent Est.

PROPERTY INFO

December 05, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2015
  • Price/Sqft : $179.86
  • 3 Days on Market
  • MLS # : 2253704
  • Updated Date : 12/05/2020 at 00:30
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,363 sqft
  • Baths : 2 full , 1 half
Listing Agent

Las Vegas Realty Llc

Listing Agent's Description

Spacious one story single house with newly installed waterproof vinyl flooring conveniently located in the SW. All appliances are included as well as the snooker table in the living room. All beds have walk-in closets and is in move-in ready condition. Ez to maintain backyard with fruit trees. Easy access to the nearby 215 and shopping plaza.

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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)

PRICE & RENT TRENDS

Neighborhood: Rhodes Ranch

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320kPrice in $119k339k

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

Neighborhood: Rhodes Ranch

NeighborhoodNIR Market*CityMarket2010Year20002019 Q211001200130014001500160017001800Rent in $10551829

* 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
Lucille Rogers Elementary School Primary Regular 775 43 9
Victoria Fertitta Middle School Middle Regular 1,472 60 NA
Durango High School High Regular 2,302 95 5

Lucille Rogers Elementary School

  • Education Level: Primary
  • # of students: 775
  • # of teachers: 43
9
GreatSchools Rating

Victoria Fertitta Middle School

  • Education Level: Middle
  • # of students: 1,472
  • # of teachers: 60
NA
GreatSchools Rating

Durango High School

  • Education Level: High
  • # of students: 2,302
  • # of teachers: 95
5
GreatSchools Rating
 

$382,500$467,500$425,000

PURCHASE PRICE

$1,755$2,145$1,950

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,950
EXPENSES Loan Payment -$1,568
Property Tax -$321
Property Insurance -$73
Property Management Fees -$119
CASH FLOW
-$131

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.

$425,000

PROJECTED PRICE

$1,950

PROJECTED RENT

0.46%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.96%
Appreciation Year (1-5) 8.8%
Maintenance Year (1-5) 8.00%
Vacancy 7.63%
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

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$118,375

INVESTMENT

$118,375

Down Payment
$106,250
Rehab Estimate
$5,750
Closing Costs
$6,375

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,568

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $106,250
Loan Amount $318,750
See What Happens When You Reinvest Cash Flow

4.33

YEARS SAVED

$20,730

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,950

    LIST RENT
  • $0.83

    LIST RENT PER SQFT
  • $1,760

    COMP ESTIMATED VALUE
  • $0.75

    COMP AVG. RENT PER SQFT
Comps Range
$1,700
1$1,7002$1,8003$1,8954$1,9505$1,950
$1,950
RENT COMPS ANALYSIS
  • 9215 Martel Avenue Las Vegas, NV 5
    • 4 beds 3 baths ∙ 2,363 Sqft ∙ Built 2015 4 beds 3 baths ∙ 2,363 Sqft ∙ Built 2015
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $0.83
    •  
  • 9186 Valley Bertica Avenue #0 Las Vegas, NV 1
    • 4 beds 3 baths ∙ 2,469 Sqft ∙ Built 2017 4 beds 3 baths ∙ 2,469 Sqft ∙ Built 2017
    property image
    LEASED 05/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $0.69
    •  
  • 9282 Keystone Ridge Avenue #0 Las Vegas, NV 2
    • 5 beds 3 baths ∙ 2,469 Sqft ∙ Built 2015 5 beds 3 baths ∙ 2,469 Sqft ∙ Built 2015
    property image
    LEASED 07/25/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $0.73
    •  
  • 9177 Nanjing Avenue Las Vegas, NV 3
    • 5 beds 2 baths ∙ 2,467 Sqft ∙ Built 2018 5 beds 2 baths ∙ 2,467 Sqft ∙ Built 2018
    property image
    LEASED 08/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,895
    • $0.77
    •  
  • 5556 Anshan Street Las Vegas, NV 4
    • 5 beds 3 baths ∙ 2,467 Sqft ∙ Built 2019 5 beds 3 baths ∙ 2,467 Sqft ∙ Built 2019
    property image
    LEASED 12/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $0.79
    •  
PROPERTY LISTING DETAILS
Kevin Chang
1.702.207.9537
Las Vegas Realty Llc
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2253704
Last Updated: 12/05/2020
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