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9240 Magic Flower Avenue Las Vegas, NV 89134

3 Beds 3 Baths 2,054 sqft Built 1993

$385,000

List Price

$1,990

$1.8K - $2.2K

Rent Est.

PROPERTY INFO

February 13, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1993
  • Price/Sqft : $187.44
  • 3 Days on Market
  • MLS # : 2270042
  • Updated Date : 02/13/2021 at 19:30
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,054 sqft
  • Baths : 2 full , 1 half
Listing Agent

Realty One Group, Inc

Listing Agent's Description

Hidden in the Hills of Summerlin sits the great development of Panorama Point, this great family 2 story home offers 3 bedrooms, 2 & 1/2 baths, 3 car garage and your own private pool and is just waiting for your personal touch. Enter in to your formal living room with vaulted ceilings that is flooded with natural light. Have a dinner party in your formal dining room and then entertain your guest in your open family room with fireplace. Kitchen offers breakfast nook with a bay window. On those perfect summer days, step outside and enjoy your own swimming pool. Upstairs offers you a nice primary suite with a double sink vanity, large soaker tub and full size separate shower. Duel guest rooms both with walk in closets. all this and 3 car garage too. Conveniently located near 215, Summerlin Parkway and essential shopping

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: The Hills

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320k340k360k380kPrice in $119k383k

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

Neighborhood: The Hills

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
William Lummis Elementary School Primary Regular 555 27 7
Ernest Becker Middle School Middle Regular 1,392 56 NA
Palo Verde High School High Regular 3,024 114 9

William Lummis Elementary School

  • Education Level: Primary
  • # of students: 555
  • # of teachers: 27
7
GreatSchools Rating

Ernest Becker Middle School

  • Education Level: Middle
  • # of students: 1,392
  • # of teachers: 56
NA
GreatSchools Rating

Palo Verde High School

  • Education Level: High
  • # of students: 3,024
  • # of teachers: 114
9
GreatSchools Rating
 

$346,500$423,500$385,000

PURCHASE PRICE

$1,791$2,189$1,990

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,990
EXPENSES Loan Payment -$1,337
Property Tax -$255
Property Insurance -$67
Property Management Fees -$119
CASH FLOW
$212

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.

$385,000

PROJECTED PRICE

$1,990

PROJECTED RENT

0.52%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.05%
Appreciation Year (1-5) 7.3%
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$0.0$5.0k$10k$15k$20k$25k

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$107,775

INVESTMENT

$107,775

Down Payment
$96,250
Rehab Estimate
$5,750
Closing Costs
$5,775

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 40% down payment or higher enables the proceeds from the asset to cover all costs.

$1,337

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $96,250
Loan Amount $288,750
See What Happens When You Reinvest Cash Flow

8.67

YEARS SAVED

$46,204

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,990

    LIST RENT
  • $0.97

    LIST RENT PER SQFT
  • $1,766

    COMP ESTIMATED VALUE
  • $0.86

    COMP AVG. RENT PER SQFT
Comps Range
$1,595
1$1,5952$1,6403$1,7504$1,8005$1,990
$1,990
RENT COMPS ANALYSIS
  • 9240 Magic Flower Avenue Las Vegas, NV 5
    • 3 beds 3 baths ∙ 2,054 Sqft ∙ Built 1993 3 beds 3 baths ∙ 2,054 Sqft ∙ Built 1993
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,990
    • $0.97
    •  
  • 9317 Magic Flower Avenue #- Las Vegas, NV 1
    • 3 beds 3 baths ∙ 1,881 Sqft ∙ Built 1993 3 beds 3 baths ∙ 1,881 Sqft ∙ Built 1993
    property image
    LEASED 11/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $0.85
    •  
  • 9341 Magic Flower Avenue Las Vegas, NV 2
    • 3 beds 3 baths ∙ 1,880 Sqft ∙ Built 1992 3 beds 3 baths ∙ 1,880 Sqft ∙ Built 1992
    property image
    LEASED 09/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,640
    • $0.87
    •  
  • 9448 Amber Valley Lane Las Vegas, NV 3
    • 4 beds 3 baths ∙ 2,080 Sqft ∙ Built 1992 4 beds 3 baths ∙ 2,080 Sqft ∙ Built 1992
    property image
    LEASED 01/05/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.84
    •  
  • 9212 Magic Flower Las Vegas, NV 4
    • 3 beds 2 baths ∙ 2,054 Sqft ∙ Built 1993 3 beds 2 baths ∙ 2,054 Sqft ∙ Built 1993
    property image
    LEASED 04/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $0.88
    •  
PROPERTY LISTING DETAILS
David Karjola
1.760.397.7997
Realty One Group, Inc
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2270042
Last Updated: 02/13/2021
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