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9220 Black Lake Place Las Vegas, NV 89178

4 Beds 2 Baths 2,563 sqft Built 2006

$405,000

List Price

$1,820

$1.6K - $2K

Rent Est.

PROPERTY INFO

November 22, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2006
  • Price/Sqft : $158.02
  • 2 Days on Market
  • MLS # : 2249834
  • Updated Date : 11/21/2020 at 20:16
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,563 sqft
  • Baths : 2 full
Listing Agent

The Baird Group, Llc

Listing Agent's Description

GREAT FLOOR PLAN AND SUPER LOT! GREAT ROOM WITH FIREPLACE, KITCHEN HAS TONS OF CABINETS, DOUBLE OVEN, ISLAND BAR WITH CORIAN COUNTER -TOPS AND PANTRY, UPGRADED WOOD FLOORING DOWNSTAIRS, LARGE MASTER SUITE WITH WALK IN CLOSET AND DUAL VANITY, UPSTAIRS SEPARATE LAUNDRY ROOM, JACK JILL BATHROOM UPSTAIRS, DOWNSTAIRS BEDROOM WITH BATH CLOSE BY. UPSTAIRS FAMILY ROOM- LOFT; HOME FACES SOUTH FOR AFTERNOON SHADE IN BACKYARD. EXTRA STORAGE ROOM IN TWO CAR GARAGE. SEPARATE THREE CAR GARAGE. POOL SIZED LOT! SHOW IT TODAY!

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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: Mountain Edge

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320k340k360kPrice in $119k362k

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

Neighborhood: Mountain Edge

NeighborhoodNIR Market*CityMarket2010Year20002019 Q211001200130014001500160017001800Rent in $10391875

* 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
 

$364,500$445,500$405,000

PURCHASE PRICE

$1,638$2,002$1,820

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,820
EXPENSES Loan Payment -$1,494
Property Tax -$297
Property Insurance -$77
Property Management Fees -$119
CASH FLOW
-$167

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.

$405,000

PROJECTED PRICE

$1,820

PROJECTED RENT

0.45%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.05%
Appreciation Year (1-5) 8.4%
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$1.4M

PROJECTED ANNUAL CASH FLOW

11530-$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$113,075

INVESTMENT

$113,075

Down Payment
$101,250
Rehab Estimate
$5,750
Closing Costs
$6,075

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,494

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $101,250
Loan Amount $303,750
See What Happens When You Reinvest Cash Flow

3.83

YEARS SAVED

$17,076

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,820

    LIST RENT
  • $0.71

    LIST RENT PER SQFT
  • $2,031

    COMP ESTIMATED VALUE
  • $0.79

    COMP AVG. RENT PER SQFT
Comps Range
$1,800
1$1,8002$1,8203$1,8284$2,1005$2,100
$2,100
RENT COMPS ANALYSIS
  • 9220 Black Lake Place Las Vegas, NV 2
    • 4 beds 2 baths ∙ 2,563 Sqft ∙ Built 2006 4 beds 2 baths ∙ 2,563 Sqft ∙ Built 2006
    • Rent
    • Rent Per SQFT
    •  
    • $1,820
    • $0.71
    •  
  • 9065 Sendero Avenue Las Vegas, NV 1
    • 4 beds 3 baths ∙ 2,313 Sqft ∙ Built 2006 4 beds 3 baths ∙ 2,313 Sqft ∙ Built 2006
    LEASED 02/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $0.78
    •  
  • 9051 Palomino Park Court Las Vegas, NV 3
    • 3 beds 3 baths ∙ 2,481 Sqft ∙ Built 2006 3 beds 3 baths ∙ 2,481 Sqft ∙ Built 2006
    LEASED 08/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,828
    • $0.74
    •  
  • 9751 Maspalomas Street Las Vegas, NV 4
    • 4 beds 4 baths ∙ 2,680 Sqft ∙ Built 2009 4 beds 4 baths ∙ 2,680 Sqft ∙ Built 2009
    LEASED 05/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $0.78
    •  
  • 9237 Ram Creek Lane Las Vegas, NV 5
    • 4 beds 4 baths ∙ 2,409 Sqft ∙ Built 2005 4 beds 4 baths ∙ 2,409 Sqft ∙ Built 2005
    LEASED 09/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $0.87
    •  
PROPERTY LISTING DETAILS
Steven D Baird
1.702.592.9927
The Baird Group, Llc
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2249834
Last Updated: 11/21/2020
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