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931 Cedarcliff Avenue Las Vegas, NV 89123

4 Beds 1 Baths 2,920 sqft Built 1994

$439,000

List Price

$2,050

$1.8K - $2.3K

Rent Est.

PROPERTY INFO

FACTS
  • Single Family
  • Built In 1994
  • Price/Sqft : $150.34
  • 14 Days on Market
  • MLS # : 2264986
  • Updated Date : 02/06/2021 at 21:50
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,920 sqft
  • Baths : 1 full
Listing Agent

Huntington & Ellis, A Real Est

Listing Agent's Description

WELCOME TO THE PARADISE NEIGHBORHOOD LOCATED IN CENTRAL LAS VEGAS - GORGEOUS 2 STORY, 4 BEDROOMS + LARGE LOFT/OFFICE WITH SOARING CEILINGS, 3 CAR GARAGE AND ALL THE CUSTOM UPGRADES. WOOD SHUTTERS, CUSTOM FLOORING, REMODELED KITCHEN & BATHS, FAMILY ROOMS BOASTS MARBLE FIREPLACE LOOKING INTO KITCHEN WITH UPGRADED STAINLESS APPLIANCES AND GRANITE COUNTERS. PRIMARY BEDROOM WITH CUSTOM STONE ACCENTS AND LARGE SPA LIKE BATHROOM. TONS OF NATURAL LIGHT & CEILING FANS THROUGHOUT ALL BEDROOMS. SEVERAL SMART HOME FEATURES INCLUDE "SMART SPRINKLER TIMER, GARAGE DOOR OPENER, NEST THERMOSTATS" PRIVATE PARKLIKE BACKYARD FEATURES A HUGE COVERED PATIO, WATERFALL, FIREPIT AND KOI POND. NO HOA, ALL APPLIANCES INCLUDED, MOVE IN READY!

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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: Paradise

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280kPrice in $112k296k

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

Neighborhood: Paradise

NeighborhoodNIR Market*CityMarket2010Year20002019 Q211001150120012501300135014001450150015501600Rent in $10761606

* 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
Louis Wiener Jr Elementary School Primary Regular 701 39 7
Jack L. Schofield Middle School Middle Regular 1,332 51 NA
Silverado High School High Regular 2,263 94 5

Louis Wiener Jr Elementary School

  • Education Level: Primary
  • # of students: 701
  • # of teachers: 39
7
GreatSchools Rating

Jack L. Schofield Middle School

  • Education Level: Middle
  • # of students: 1,332
  • # of teachers: 51
NA
GreatSchools Rating

Silverado High School

  • Education Level: High
  • # of students: 2,263
  • # of teachers: 94
5
GreatSchools Rating
 

$395,100$482,900$439,000

PURCHASE PRICE

$1,845$2,255$2,050

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,050
EXPENSES Loan Payment -$1,525
Property Tax -$271
Property Insurance -$84
Property Management Fees -$119
CASH FLOW
$52

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.

$439,000

PROJECTED PRICE

$2,050

PROJECTED RENT

0.47%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.96%
Appreciation Year (1-5) 9.4%
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$1.6M

PROJECTED ANNUAL CASH FLOW

11530$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$122,085

INVESTMENT

$122,085

Down Payment
$109,750
Rehab Estimate
$5,750
Closing Costs
$6,585

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,525

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $109,750
Loan Amount $329,250
See What Happens When You Reinvest Cash Flow

6.42

YEARS SAVED

$32,957

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,050

    LIST RENT
  • $0.7

    LIST RENT PER SQFT
  • $2,227

    COMP ESTIMATED VALUE
  • $0.76

    COMP AVG. RENT PER SQFT
Comps Range
$1,915
1$1,9152$1,9993$2,0504$2,2955$2,395
$2,395
RENT COMPS ANALYSIS
  • 931 Cedarcliff Avenue Las Vegas, NV 3
    • 4 beds 1 baths ∙ 2,920 Sqft ∙ Built 1994 4 beds 1 baths ∙ 2,920 Sqft ∙ Built 1994
    • Rent
    • Rent Per SQFT
    •  
    • $2,050
    • $0.70
    •  
  • 920 Cedarcliff Avenue Las Vegas, NV 1
    • 3 beds 2 baths ∙ 2,920 Sqft ∙ Built 1994 3 beds 2 baths ∙ 2,920 Sqft ∙ Built 1994
    LEASED 03/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,915
    • $0.66
    •  
  • 1449 Bent Oak Court Las Vegas, NV 2
    • 4 beds 3 baths ∙ 2,725 Sqft ∙ Built 1990 4 beds 3 baths ∙ 2,725 Sqft ∙ Built 1990
    LEASED 09/27/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,999
    • $0.73
    •  
  • 7654 Chantilly Island Court Las Vegas, NV 4
    • 4 beds 2 baths ∙ 2,866 Sqft ∙ Built 2004 4 beds 2 baths ∙ 2,866 Sqft ∙ Built 2004
    LEASED 10/06/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,295
    • $0.80
    •  
  • 7640 Spencer Street Las Vegas, NV 5
    • 3 beds 3 baths ∙ 2,782 Sqft ∙ Built 1975 3 beds 3 baths ∙ 2,782 Sqft ∙ Built 1975
    LEASED 07/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,395
    • $0.86
    •  
PROPERTY LISTING DETAILS
Alex E Adabashi
1.702.985.5657
Huntington & Ellis, A Real Est
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2264986
Last Updated: 02/06/2021
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