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9237 Longhorn Falls Court Las Vegas, NV 89149

3 Beds 3 Baths 1,993 sqft Built 2007

$330,000

List Price

$1,650

$1.5K - $1.8K

Rent Est.

PROPERTY INFO

February 12, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2007
  • Price/Sqft : $165.58
  • 4 Days on Market
  • MLS # : 2269423
  • Updated Date : 02/13/2021 at 20:26
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,993 sqft
  • Baths : 2 full , 1 half
Listing Agent

Homesmart Encore

Listing Agent's Description

Beautiful and spacious 3bdrm+den & 2.5 bath in Centennial Hills. Nice floor plan with den downstairs and 3 beds upstairs. Living/dining combo, kitchen has granite counters, island, walk-in pantry, & black appliances. Large master bedroom with walk-in closet, master bath includes double sinks and separate tub/shower. Laundry hookups downstairs. Newer carpet and paint. Mature landscape and located on a cul de sac street.

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • As the largest share, Las Vegas metro contributes to 75.1% of Nevada state's economy i.e. Gross State Product (USMayors.org, 2018)

PRICE & RENT TRENDS

Neighborhood: Town Center Village

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320k340k360kPrice in $119k366k

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

Neighborhood: Town Center Village

NeighborhoodNIR Market*CityMarket2010Year20002019 Q211001200130014001500160017001800Rent in $10761875

* 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
Marshall C. Darnell Elementary School Primary Regular 793 40 6
Edmundo Eddie Escobedo Sr Middle School Middle Regular 1,171 47 NA
Centennial High School High Regular 3,055 124 6

Marshall C. Darnell Elementary School

  • Education Level: Primary
  • # of students: 793
  • # of teachers: 40
6
GreatSchools Rating

Edmundo Eddie Escobedo Sr Middle School

  • Education Level: Middle
  • # of students: 1,171
  • # of teachers: 47
NA
GreatSchools Rating

Centennial High School

  • Education Level: High
  • # of students: 3,055
  • # of teachers: 124
6
GreatSchools Rating
 

$297,000$363,000$330,000

PURCHASE PRICE

$1,485$1,815$1,650

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,650
EXPENSES Loan Payment -$1,146
Property Tax -$262
Property Insurance -$66
Property Management Fees -$119
CASH FLOW
$57

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.

$330,000

PROJECTED PRICE

$1,650

PROJECTED RENT

0.50%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.05%
Appreciation Year (1-5) 9.2%
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$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$93,200

INVESTMENT

$93,200

Down Payment
$82,500
Rehab Estimate
$5,750
Closing Costs
$4,950

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 45% down payment or higher enables the proceeds from the asset to cover all costs.

$1,146

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $82,500
Loan Amount $247,500
See What Happens When You Reinvest Cash Flow

6.67

YEARS SAVED

$26,459

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,650

    LIST RENT
  • $0.83

    LIST RENT PER SQFT
  • $1,754

    COMP ESTIMATED VALUE
  • $0.88

    COMP AVG. RENT PER SQFT
Comps Range
$1,595
1$1,5952$1,6453$1,6504$1,6955$1,950
$1,950
RENT COMPS ANALYSIS
  • 9237 Longhorn Falls Court Las Vegas, NV 3
    • 3 beds 3 baths ∙ 1,993 Sqft ∙ Built 2007 3 beds 3 baths ∙ 1,993 Sqft ∙ Built 2007
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.83
    •  
  • 9445 Canary Date Las Vegas, NV 1
    • 3 beds 3 baths ∙ 1,863 Sqft ∙ Built 2006 3 beds 3 baths ∙ 1,863 Sqft ∙ Built 2006
    property image
    LEASED 05/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $0.86
    •  
  • 9420 White Ridge Avenue #0 Las Vegas, NV 2
    • 3 beds 2 baths ∙ 1,863 Sqft ∙ Built 2005 3 beds 2 baths ∙ 1,863 Sqft ∙ Built 2005
    property image
    LEASED 10/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,645
    • $0.88
    •  
  • 6657 Colorado Spruce Street #0 Las Vegas, NV 4
    • 4 beds 4 baths ∙ 1,978 Sqft ∙ Built 2008 4 beds 4 baths ∙ 1,978 Sqft ∙ Built 2008
    property image
    LEASED 12/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $0.86
    •  
  • 9208 Thunder Falls Court Las Vegas, NV 5
    • 3 beds 3 baths ∙ 2,118 Sqft ∙ Built 2010 3 beds 3 baths ∙ 2,118 Sqft ∙ Built 2010
    property image
    LEASED 02/06/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $0.92
    •  
PROPERTY LISTING DETAILS
Kerry M Vanderwaag
1.702.429.0738
Homesmart Encore
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2269423
Last Updated: 02/13/2021
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