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9361 Wittig Avenue Las Vegas, NV 89149

5 Beds 3 Baths 3,507 sqft Built 2018

$474,999

List Price

$2,610

$2.4K - $2.9K

Rent Est.

PROPERTY INFO

January 15, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2018
  • Price/Sqft : $135.44
  • 3 Days on Market
  • MLS # : 2261901
  • Updated Date : 01/15/2021 at 20:00
CONSTRUCTION
  • Beds : 5
  • Floor Size : 3,507 sqft
  • Baths : 2 full , 1 half
Listing Agent

Keller Williams Market Place I

Listing Agent's Description

This enormous home is the perfect fit for a family. With 3 separate living areas there will be plenty of room for everyone. This home boasts a wide open floor plan connecting a beautiful kitchen to your living room. Enjoy the 2 master bedrooms including one downstairs with a rainfall shower. This home has seemingly endless upgrades like the granite countertops, stainless steel appliances, and beautiful tile floors. Come see it today!

SEE MORE

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
Marshall C. Darnell Elementary School Primary Regular 793 40 6
Edmundo Eddie Escobedo Sr Middle School Middle Regular 1,171 47 NA
Centennial High School High Regular 3,055 124 6

Marshall C. Darnell Elementary School

  • Education Level: Primary
  • # of students: 793
  • # of teachers: 40
6
GreatSchools Rating

Edmundo Eddie Escobedo Sr Middle School

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

Centennial High School

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

$427,499$522,499$474,999

PURCHASE PRICE

$2,349$2,871$2,610

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,610
EXPENSES Loan Payment -$1,650
Property Tax -$391
Property Insurance -$95
Property Management Fees -$119
CASH FLOW
$355

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.

$474,999

PROJECTED PRICE

$2,610

PROJECTED RENT

0.55%

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$0.0$5.0k$10k$15k$20k$25k$30k

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$131,625

INVESTMENT

$131,625

Down Payment
$118,750
Rehab Estimate
$5,750
Closing Costs
$7,125

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 35% down payment or higher enables the proceeds from the asset to cover all costs.

$1,650

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $118,750
Loan Amount $356,249
See What Happens When You Reinvest Cash Flow

9.58

YEARS SAVED

$65,259

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,610

    LIST RENT
  • $0.74

    LIST RENT PER SQFT
  • $2,771

    COMP ESTIMATED VALUE
  • $0.79

    COMP AVG. RENT PER SQFT
Comps Range
$2,500
1$2,5002$2,6103$2,7954$2,8005$3,000
$3,000
RENT COMPS ANALYSIS
  • 9361 Wittig Avenue Las Vegas, NV 2
    • 5 beds 3 baths ∙ 3,507 Sqft ∙ Built 2018 5 beds 3 baths ∙ 3,507 Sqft ∙ Built 2018
    • Rent
    • Rent Per SQFT
    •  
    • $2,610
    • $0.74
    •  
  • 9360 White Waterfall Avenue Las Vegas, NV 1
    • 5 beds 3 baths ∙ 3,546 Sqft ∙ Built 2006 5 beds 3 baths ∙ 3,546 Sqft ∙ Built 2006
    LEASED 02/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $0.71
    •  
  • 9616 University Ridge Avenue Las Vegas, NV 3
    • 4 beds 3 baths ∙ 3,485 Sqft ∙ Built 2015 4 beds 3 baths ∙ 3,485 Sqft ∙ Built 2015
    LEASED 02/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,795
    • $0.80
    •  
  • 10203 Radcliffe Peak Avenue Las Vegas, NV 4
    • 5 beds 2 baths ∙ 3,496 Sqft ∙ Built 2007 5 beds 2 baths ∙ 3,496 Sqft ∙ Built 2007
    LEASED 05/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,800
    • $0.80
    •  
  • 9236 White Waterfall Avenue Las Vegas, NV 5
    • 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
    •  
PROPERTY LISTING DETAILS
Christopher J Ward
1.702.682.0603
Keller Williams Market Place I
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2261901
Last Updated: 01/15/2021
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