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9386 Leafhopper Court Las Vegas, NV 89178

3 Beds 3 Baths 2,047 sqft Built 2008

INVESTimate

$329,000

List Price

$1,650

$1,485 - $1,815

Rent Est.

$356,768  ( +8.44%)   1 YR EST. FORECAST

PROPERTY INFO

FACTS
  • Built In 2008
  • Price/Sqft : $160.72
  • 10 Days on Market
  • MLS # : 2222740
  • Updated Date : 08/23/2020 at 19:35
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,047 sqft
  • Baths : 2 full , 1 half
Listing Agent

Keller Williams Realty Sw

Listing Agent's Description

NICE 2 STORY SINGLE FAMILY HOME WITH 3 BEDROOMS AND 2.5 BATHROOMS LOCATED IN SOUTHWEST LAS VEGAS. HAS BOTH A NICE LANDING AREA AND SEPARATE LOFT FOR WORKING OR SCHOOLING FROM HOME. THE KITCHEN FEATURES GRANITE COUNTERTOPS, AN ISLAND, AND TILE FLOORING. ROOMY MASTER BEDROOM WITH 2 WALK-IN CLOSETS. SHOW THIS ONE TODAY! All figures and measurements are approximate. The buyer is to verify schools... 40 AMP service was added to the garage for an electric car or an RV hookup. All bedrooms, dining, and living rooms have ceiling fans. Move in ready.

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: Mountain Edge

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320k340k360kPrice in $119k362k

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

Neighborhood: Mountain Edge

NeighborhoodNIR Market*CityMarket2010Year20002019 Q211001200130014001500160017001800Rent in $10391875

* 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
William V. Wright Elementary School Primary Regular 1,256 62 8
Wilbur And Theresa Faiss Middle School Middle Regular 1,409 61 NA
Sierra Vista High School High Regular 2,396 88 4

William V. Wright Elementary School

  • Education Level: Primary
  • # of students: 1,256
  • # of teachers: 62
8
GreatSchools Rating

Wilbur And Theresa Faiss Middle School

  • Education Level: Middle
  • # of students: 1,409
  • # of teachers: 61
NA
GreatSchools Rating

Sierra Vista High School

  • Education Level: High
  • # of students: 2,396
  • # of teachers: 88
4
GreatSchools Rating
 

$296,100$361,900$329,000

PURCHASE PRICE

$1,485$1,815$1,650

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

PROJECTED ANNUAL CASH FLOW

11530$0.0$5.0k$10k$15k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,650
EXPENSES Loan Payment -$1,214
Property Tax -$224
Property Insurance -$67
HOA -$37
Property Management Fees -$119
CASH FLOW
-$11

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.

$329,000

PROJECTED PRICE

$1,650

PROJECTED RENT

0.50%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.05%
Appreciation Year (1-5) 8.44%
Maintenance Year (1-5) 8.00%
Vacancy 7.57%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$92,935

INVESTMENT

$92,935

Down Payment
$82,250
Rehab Estimate
$5,750
Closing Costs
$4,935

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 50% down payment or higher enables the proceeds from the asset to cover all costs.

$1,214

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $82,250
Loan Amount $246,750
See What Happens When You Reinvest Cash Flow

5.67

YEARS SAVED

$24,824

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,650

    LIST RENT
  • $0.81

    LIST RENT PER SQFT
  • $1,725

    COMP ESTIMATED VALUE
  • $0.84

    COMP AVG. RENT PER SQFT
Comps Range
$1,650
1$1,6502$1,6503$1,7004$1,7005$1,700
$1,700
RENT COMPS ANALYSIS
  • 9386 Leafhopper Court Las Vegas, NV 2
    • 3 beds 3 baths ∙ 2,047 Sqft ∙ Built 2008 3 beds 3 baths ∙ 2,047 Sqft ∙ Built 2008
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.81
    •  
  • 9091 Cloudy Mountain Place Las Vegas, NV 1
    • 3 beds 2 baths ∙ 2,022 Sqft ∙ Built 2008 3 beds 2 baths ∙ 2,022 Sqft ∙ Built 2008
    LEASED 07/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.82
    •  
  • 9347 Bear Basin Court Las Vegas, NV 3
    • 3 beds 3 baths ∙ 1,995 Sqft ∙ Built 2006 3 beds 3 baths ∙ 1,995 Sqft ∙ Built 2006
    LEASED 09/30/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $0.85
    •  
  • 9341 Wildcat Springs Avenue Las Vegas, NV 4
    • 3 beds 2 baths ∙ 1,995 Sqft ∙ Built 2006 3 beds 2 baths ∙ 1,995 Sqft ∙ Built 2006
    LEASED 07/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $0.85
    •  
  • 10450 Bolting Cloud Drive Las Vegas, NV 5
    • 3 beds 2 baths ∙ 1,995 Sqft ∙ Built 2006 3 beds 2 baths ∙ 1,995 Sqft ∙ Built 2006
    LEASED 08/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $0.85
    •  
PROPERTY LISTING DETAILS
Jc Melvin
1.702.595.5024
Keller Williams Realty Sw
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2222740
Last Updated: 08/23/2020
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