Work with a dedicated Real Estate Advisor who will take your financial preferences and help you select and acquire properties that fit your criteria. Learn more

9353 Leaping Lilly Avenue Las Vegas, NV 89129

3 Beds 2 Baths 1,254 sqft Built 1996

$275,000

List Price

$1,370

$1.2K - $1.5K

Rent Est.

PROPERTY INFO

December 26, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1996
  • Price/Sqft : $219.30
  • 2 Days on Market
  • MLS # : 2257395
  • Updated Date : 12/26/2020 at 11:22
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,254 sqft
  • Baths : 2 full
Listing Agent

Simply Vegas

Listing Agent's Description

STEP INTO YOUR NEWLY REMODELED BEAUTIFUL SINGLE STORY HOME LOCATED IN THE NORTHWEST! 3 BED 2 BATH W/MODERN FEATURES INCLUDING VAULTED CEILINGS, NEW UPGRADED WHITE KITCHEN CABINETS W/QUARTZ COUNTER TOPS, NEW DUAL KITCHEN SINK, BRIGHTLY LIT AND AIRY RUSTIC MODERN BR'S W/ FULL BATH & VANITY & QUARTZ COUNTER TOPS , NEW CARPET IN ALL BEDROOMS, PORCELAIN FLOOR TILE THROUGHOUT THE REST OF THE HOUSE, FRESH INTERIOR AND EXTERIOR PAINT, NEW SLIDING BACK DOOR, NEW NEST THERMOSTAT, NEW OVEN AND DISHWASHER. ALL APPLIANCES ARE INCLUDED. NO REAR NEIGHBORS ALLOWING PRIVACY. NO HOA! CONVENIENT ACCESS TO FREEWAY AND SHOPPING. COME SAY HELLO TO YOUR NEW HOME TODAY!

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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)

PRICE & RENT TRENDS

Neighborhood: Lone Mountain

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320kPrice in $119k326k

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

Neighborhood: Lone Mountain

NeighborhoodNIR Market*CityMarket2010Year20002019 Q211001150120012501300135014001450150015501600Rent in $10701616

* 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
Edith Garehime Elementary School Primary Regular 631 32 7
Justice M E Leavitt Middle School Middle Regular 1,496 64 NA
Centennial High School High Regular 3,055 124 6

Edith Garehime Elementary School

  • Education Level: Primary
  • # of students: 631
  • # of teachers: 32
7
GreatSchools Rating

Justice M E Leavitt Middle School

  • Education Level: Middle
  • # of students: 1,496
  • # of teachers: 64
NA
GreatSchools Rating

Centennial High School

  • Education Level: High
  • # of students: 3,055
  • # of teachers: 124
6
GreatSchools Rating
 

$247,500$302,500$275,000

PURCHASE PRICE

$1,233$1,507$1,370

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,370
EXPENSES Loan Payment -$1,015
Property Tax -$165
Property Insurance -$52
Property Management Fees -$119
CASH FLOW
$19

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.

$275,000

PROJECTED PRICE

$1,370

PROJECTED RENT

0.50%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.96%
Appreciation Year (1-5) 10.3%
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

PROJECTED ANNUAL CASH FLOW

11530-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k$16k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$78,625

INVESTMENT

$78,625

Down Payment
$68,750
Rehab Estimate
$5,750
Closing Costs
$4,125

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,015

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $68,750
Loan Amount $206,250
See What Happens When You Reinvest Cash Flow

6.42

YEARS SAVED

$24,023

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,370

    LIST RENT
  • $1.09

    LIST RENT PER SQFT
  • $1,137

    COMP ESTIMATED VALUE
  • $0.91

    COMP AVG. RENT PER SQFT
Comps Range
$1,350
1$1,3502$1,3503$1,3704$1,425
$1,425
RENT COMPS ANALYSIS
  • 9353 Leaping Lilly Avenue Las Vegas, NV 3
    • 3 beds 2 baths ∙ 1,254 Sqft ∙ Built 1996 3 beds 2 baths ∙ 1,254 Sqft ∙ Built 1996
    • Rent
    • Rent Per SQFT
    •  
    • $1,370
    • $1.09
    •  
  • 9177 Bucksprings Drive Las Vegas, NV 1
    • 3 beds 3 baths ∙ 1,459 Sqft ∙ Built 1995 3 beds 3 baths ∙ 1,459 Sqft ∙ Built 1995
    LEASED 10/25/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,350
    • $0.93
    •  
  • 9629 Crimson Avenue Las Vegas, NV 2
    • 3 beds 1 baths ∙ 1,545 Sqft ∙ Built 1996 3 beds 1 baths ∙ 1,545 Sqft ∙ Built 1996
    LEASED 12/02/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,350
    • $0.87
    •  
  • 9632 Towngate Avenue Las Vegas, NV 4
    • 3 beds 3 baths ∙ 1,545 Sqft ∙ Built 1995 3 beds 3 baths ∙ 1,545 Sqft ∙ Built 1995
    LEASED 08/30/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,425
    • $0.92
    •  
PROPERTY LISTING DETAILS
Liliana E Ramos
1.702.277.5682
Simply Vegas
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2257395
Last Updated: 12/26/2020
BESbswy