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9312 Ricardo Lane Las Vegas, NV 89117

3 Beds 3 Baths 2,123 sqft Built 1988

$440,000

List Price

$2,130

$1.9K - $2.3K

Rent Est.

PROPERTY INFO

January 09, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1988
  • Price/Sqft : $207.25
  • 3 Days on Market
  • MLS # : 2260326
  • Updated Date : 01/09/2021 at 00:30
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,123 sqft
  • Baths : 2 full , 1 half
Listing Agent

Coldwell Banker Premier

Listing Agent's Description

This home rests in a wonderful community and is within walking distance of small parks and ponds. Your new home will also be near Downtown Summerlin and plenty of other amenities. This home features a renovated kitchen, master bathroom, and upgrades throughout the home. As you walk in you will notice the high vaulted ceilings and natural light that fills this home. The floor plan is open and has a flexible use of space to fit your needs. Upstairs you will have a loft that can be used as an office, a playroom, or many other options. A highlight of this home is the large backyard that provides a wonderful outdoor living environment. As you take a break from grilling on your built-in BBQ you will be able to take dip in your gorgeous pool. This home is well maintained and is ready for you to call it home.

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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)

PRICE & RENT TRENDS

Neighborhood: The Section Seven

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320k340k360kPrice in $119k377k

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

Neighborhood: The Section Seven

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
M.j. Christensen Elementary School Primary Regular 615 34 6
Lawrence Junior High School Middle Regular 1,421 61 NA
Bonanza High School High Regular 2,003 83 3

M.j. Christensen Elementary School

  • Education Level: Primary
  • # of students: 615
  • # of teachers: 34
6
GreatSchools Rating

Lawrence Junior High School

  • Education Level: Middle
  • # of students: 1,421
  • # of teachers: 61
NA
GreatSchools Rating

Bonanza High School

  • Education Level: High
  • # of students: 2,003
  • # of teachers: 83
3
GreatSchools Rating
 

$396,000$484,000$440,000

PURCHASE PRICE

$1,917$2,343$2,130

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,130
EXPENSES Loan Payment -$1,528
Property Tax -$232
Property Insurance -$68
Property Management Fees -$119
CASH FLOW
$182

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.

$440,000

PROJECTED PRICE

$2,130

PROJECTED RENT

0.48%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.05%
Appreciation Year (1-5) 8.4%
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$1.6M

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$1.4M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$122,350

INVESTMENT

$122,350

Down Payment
$110,000
Rehab Estimate
$5,750
Closing Costs
$6,600

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,528

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $110,000
Loan Amount $330,000
See What Happens When You Reinvest Cash Flow

8.25

YEARS SAVED

$47,706

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,130

    LIST RENT
  • $1

    LIST RENT PER SQFT
  • $1,858

    COMP ESTIMATED VALUE
  • $0.88

    COMP AVG. RENT PER SQFT
Comps Range
$1,795
1$1,7952$1,8503$1,9004$1,9005$2,130
$2,130
RENT COMPS ANALYSIS
  • 9312 Ricardo Lane Las Vegas, NV 5
    • 3 beds 3 baths ∙ 2,123 Sqft ∙ Built 1988 3 beds 3 baths ∙ 2,123 Sqft ∙ Built 1988
    • Rent
    • Rent Per SQFT
    •  
    • $2,130
    • $1.00
    •  
  • 9317 Ricardo Ln Las Vegas, NV 1
    • 4 beds 3 baths ∙ 2,123 Sqft ∙ Built 1988 4 beds 3 baths ∙ 2,123 Sqft ∙ Built 1988
    LEASED 11/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,795
    • $0.85
    •  
  • 3224 Ventana Hills Drive Las Vegas, NV 2
    • 3 beds 3 baths ∙ 2,123 Sqft ∙ Built 1987 3 beds 3 baths ∙ 2,123 Sqft ∙ Built 1987
    LEASED 03/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $0.87
    •  
  • 3205 Beacon Shores Circle Las Vegas, NV 3
    • 3 beds 3 baths ∙ 2,123 Sqft ∙ Built 1987 3 beds 3 baths ∙ 2,123 Sqft ∙ Built 1987
    LEASED 10/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,900
    • $0.89
    •  
  • 3212 Beacon Shores Circle Las Vegas, NV 4
    • 3 beds 3 baths ∙ 2,123 Sqft ∙ Built 1987 3 beds 3 baths ∙ 2,123 Sqft ∙ Built 1987
    LEASED 01/08/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,900
    • $0.89
    •  
PROPERTY LISTING DETAILS
Zach J Walkerlieb
1.702.743.9998
Coldwell Banker Premier
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2260326
Last Updated: 01/09/2021
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