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9303 Enchanted Grove Avenue Las Vegas, NV 89149

5 Beds 3 Baths 3,546 sqft Built 2007

$589,000

List Price

$2,670

$2.4K - $2.9K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 20, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2007
  • Price/Sqft : $166.10
  • 7 Days on Market
  • MLS # : 2278945
  • Updated Date : 03/21/2021 at 04:11
CONSTRUCTION
  • Beds : 5
  • Floor Size : 3,546 sqft
  • Baths : 2 full , 1 half
Listing Agent

Bhhs Nevada Properties

Listing Agent's Description

Stunning SPA-like backyard w/ sparkling salt water POOL & SPA with spectacular water feature! Built-in BBQ, huge backyard with fruit trees, and lush landscaping with plenty of outdoor space for entertaining! Huge Media room with built-in speakers great for movie nights! 5 spacious BR with 1 bedroom on the first-floor w/ ensuite bathroom! Great room feat. soaring ceiling with high windows for plenty of natural light! GOURMET KITCHEN features SLEEK GRANITE counters, a large island, double ovens, SS appliances! Spacious dining room with built in cabinets! The family room features custom built-in cabinets and speakers great for music and movies! The pool was replastered approx. 2 years ago and 2 new pool pumps w/ variable.

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: Centennial Hills

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320k340k360kPrice in $119k362k

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

Neighborhood: Centennial 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
Sandra L. Thompson Elementary School Primary Regular 798 39 8
Edmundo Eddie Escobedo Sr Middle School Middle Regular 1,171 47 NA
Arbor View High School High Regular 2,878 116 9

Sandra L. Thompson Elementary School

  • Education Level: Primary
  • # of students: 798
  • # of teachers: 39
8
GreatSchools Rating

Edmundo Eddie Escobedo Sr Middle School

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

Arbor View High School

  • Education Level: High
  • # of students: 2,878
  • # of teachers: 116
9
GreatSchools Rating
 

$530,100$647,900$589,000

PURCHASE PRICE

$2,403$2,937$2,670

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,670
EXPENSES Loan Payment -$2,046
Property Tax -$483
Property Insurance -$96
Property Management Fees -$119
CASH FLOW
-$74

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.

$589,000

PROJECTED PRICE

$2,670

PROJECTED RENT

0.45%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.05%
Appreciation Year (1-5) 10.3%
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$500k$1.0M$1.5M$2.0M

PROJECTED ANNUAL CASH FLOW

11530-$5.0k$0.0$5.0k$10k$15k$20k$25k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$500k$1.0M$1.5M$2.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$161,835

INVESTMENT

$161,835

Down Payment
$147,250
Rehab Estimate
$5,750
Closing Costs
$8,835

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 50% down payment or higher enables the proceeds from the asset to cover all costs.

$2,046

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $147,250
Loan Amount $441,750
See What Happens When You Reinvest Cash Flow

5.08

YEARS SAVED

$31,078

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,670

    LIST RENT
  • $0.75

    LIST RENT PER SQFT
  • $2,934

    COMP ESTIMATED VALUE
  • $0.83

    COMP AVG. RENT PER SQFT
Comps Range
$2,595
1$2,5952$2,6703$3,0004$3,0005$3,195
$3,195
RENT COMPS ANALYSIS
  • 9303 Enchanted Grove Avenue Las Vegas, NV 2
    • 5 beds 3 baths ∙ 3,546 Sqft ∙ Built 2007 5 beds 3 baths ∙ 3,546 Sqft ∙ Built 2007
    • Rent
    • Rent Per SQFT
    •  
    • $2,670
    • $0.75
    •  
  • 6840 Dayton Flyer Las Vegas, NV 1
    • 5 beds 3 baths ∙ 3,463 Sqft ∙ Built 2015 5 beds 3 baths ∙ 3,463 Sqft ∙ Built 2015
    LEASED 05/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,595
    • $0.75
    •  
  • 9236 White Waterfall Avenue Las Vegas, NV 3
    • 5 beds 4 baths ∙ 3,546 Sqft ∙ Built 2006 5 beds 4 baths ∙ 3,546 Sqft ∙ Built 2006
    LEASED 08/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,000
    • $0.85
    •  
  • 9658 Bruschi Ridge Court Las Vegas, NV 4
    • 5 beds 4 baths ∙ 3,542 Sqft ∙ Built 2017 5 beds 4 baths ∙ 3,542 Sqft ∙ Built 2017
    LEASED 10/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,000
    • $0.85
    •  
  • 7504 Cliff Peaks Street Las Vegas, NV 5
    • 4 beds 4 baths ∙ 3,696 Sqft ∙ Built 2005 4 beds 4 baths ∙ 3,696 Sqft ∙ Built 2005
    LEASED 08/25/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,195
    • $0.86
    •  
PROPERTY LISTING DETAILS
Mina Mai Silva
1.702.907.8811
Bhhs Nevada Properties
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2278945
Last Updated: 03/21/2021
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