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9311 Brownstone Ledge Avenue Las Vegas, NV 89149

3 Beds 3 Baths 2,754 sqft Built 2006

INVESTimate

$500,000

List Price

$1,880

$1,692 - $2,068

Rent Est.

$551,600  ( +10.32%)   1 YR EST. FORECAST

PROPERTY INFO

August 23, 2020 RECENTLY ADDED
FACTS
  • Built In 2006
  • Price/Sqft : $181.55
  • 5 Days on Market
  • MLS # : 2224089
  • Updated Date : 08/23/2020 at 13:52
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,754 sqft
  • Baths : 2 full , 1 half
Listing Agent

Realty One Group, Inc

Listing Agent's Description

WELL MAINTAINED SINGLE STORY HOME IN GATED COMMUNITY. OPEN FLOOR PLAN KITCHEN/GREAT ROOM HAS UP GRADED CABINETS, STAINLESS STEEL APPLIANCES, GRANITE COUNTER TOPS, DINING AREA. SURROUND SOUND WITH SOLAR SCREENS ON BACK SIDE OF HOME. MASTER BEDROOM SEPARATE FROM OTHER BEDROOMS WITH DOOR TO BACKYARD SCREENED, WALK-IN MASTER CLOSET WITH SAFE. 2 BEDROOMS SHARE A FULL BATH WITH A SECOND LIVING ROOM OR PLAY AREA. OFF THE LAUNDRY ROOM A FOURTH POSSIBLE BEDROOM AREA WITH OWN AIR CONDITIONER UNIT OR COULD BE DEN/OFFICE. THE FORMAL DINING AREA HAS CROWN MOLDING, SLIDING DOORS WITH CEILING FAN AND COULD BE OFFICE/DEN AS WELL. NEW CARPET AND PAD THROUGHOUT. PORCH IN THE FRONT AND LOW MAINTENANCE BACK YARD HAS PATIO THAT ALSO HAS ELECTRICAL FOR SPA AND HAS A GAS FIRE PIT AND DWARF LEMON TREE.

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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: 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
 

$450,000$550,000$500,000

PURCHASE PRICE

$1,692$2,068$1,880

RENT

DOWN PAYMENT
FINANCING

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$1.8M

PROJECTED ANNUAL CASH FLOW

11530-$10k-$5.0k$0.0$5.0k$10k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M$1.6M$1.8M

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,880
EXPENSES Loan Payment -$1,845
Property Tax -$381
Property Insurance -$81
HOA -$93
Property Management Fees -$119
CASH FLOW
-$638

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.

$500,000

PROJECTED PRICE

$1,880

PROJECTED RENT

0.38%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.05%
Appreciation Year (1-5) 10.32%
Maintenance Year (1-5) 8.00%
Vacancy 7.57%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$138,250

INVESTMENT

$138,250

Down Payment
$125,000
Rehab Estimate
$5,750
Closing Costs
$7,500

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 70% down payment or higher enables the proceeds from the asset to cover all costs.

$1,845

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $125,000
Loan Amount $375,000
See What Happens When You Reinvest Cash Flow

0.42

YEARS SAVED

$697

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,880

    LIST RENT
  • $0.68

    LIST RENT PER SQFT
  • $2,052

    COMP ESTIMATED VALUE
  • $0.75

    COMP AVG. RENT PER SQFT
Comps Range
$1,880
1$1,8802$1,9953$2,0504$2,1005$2,150
$2,150
RENT COMPS ANALYSIS
  • 9311 Brownstone Ledge Avenue Las Vegas, NV 1
    • 3 beds 3 baths ∙ 2,754 Sqft ∙ Built 2006 3 beds 3 baths ∙ 2,754 Sqft ∙ Built 2006
    • Rent
    • Rent Per SQFT
    •  
    • $1,880
    • $0.68
    •  
  • 9217 Apollo Heights Avenue Las Vegas, NV 2
    • 4 beds 3 baths ∙ 2,621 Sqft ∙ Built 2013 4 beds 3 baths ∙ 2,621 Sqft ∙ Built 2013
    LEASED 11/05/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,995
    • $0.76
    •  
  • 9391 Olympia Falls Avenue #0 Las Vegas, NV 3
    • 4 beds 1 baths ∙ 2,733 Sqft ∙ Built 2003 4 beds 1 baths ∙ 2,733 Sqft ∙ Built 2003
    LEASED 07/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,050
    • $0.75
    •  
  • 9604 Sienna Valley Avenue #0 Las Vegas, NV 4
    • 4 beds 2 baths ∙ 2,853 Sqft ∙ Built 2005 4 beds 2 baths ∙ 2,853 Sqft ∙ Built 2005
    LEASED 11/15/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $0.74
    •  
  • 9333 Outer Banks Las Vegas, NV 5
    • 4 beds 3 baths ∙ 2,948 Sqft ∙ Built 2005 4 beds 3 baths ∙ 2,948 Sqft ∙ Built 2005
    LEASED 05/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,150
    • $0.73
    •  
PROPERTY LISTING DETAILS
Nancy L Anderson
1.702.521.3499
Realty One Group, Inc
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2224089
Last Updated: 08/23/2020
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