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9408 Logan Ridge Court Las Vegas, NV 89139

4 Beds 2 Baths 2,290 sqft Built 2015

$375,000

List Price

$2,000

$1.8K - $2.2K

Rent Est.

PROPERTY INFO

FACTS
  • Single Family
  • Built In 2015
  • Price/Sqft : $163.76
  • 32 Days on Market
  • MLS # : 2241674
  • Updated Date : 11/21/2020 at 02:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,290 sqft
  • Baths : 1 full , 1 half
Listing Agent

Keller Williams Southern Nevada

Listing Agent's Description

JUST REMODELED! AMAZING OPPORTUNITY TO OWN A HOME CONVENIENTLY LOCATED IN A CULDESAC NEAR SHOPPING, WALKING PATHS, DOG PARKS AND 2 SCHOOLS. CLOSE ACCESS TO BLUE DIAMOND AND I-15. HUGE OPEN FLOORPLAN WITH KITCHEN & FAMILY ROOM. IDEAL SETTING FOR ENTERTAINING. BRAND NEW WOOD LAMINATE FLOORING AND NEUTRAL PAINT DOWNSTAIRS! STAINLESS STEEL APPLIANCES. UNDER CABINET LIGHTING. GRANITE COUNTER TOPS. TONS OF NATURAL LIGHT AND BRAND NEW WHITE LED BULBS. CEILING FANS & LIGHTS THRU OUT. SOLAR SCREENS ON WINDOWS TO LOWER ENERGY BILL. STRIP VIEWS FROM PRIMARY BEDROOM. HUGE 4TH BEDROOM FOR OFFICE/GAME ROOM/MAN CAVE/CRAFT ROOM. LARGE PRIMARY WALKIN CLOSET WITH ROOM FOR MORE CUSTOM SHELVES. PAVERS ON DRIVEWAY & WALKWAY. FULLY LANDSCAPED FRONT AND BACKYARD WITH PAVERS. GAS STUB READY FOR YOUR GRILL. TANKLESS WATER HEATER. REVERSE OSMOSIS AND WATER SOFTNER WITH WHOLE HOUSE FILTRATION! ALL THE BENEFITS OF SOUTHERN HIGHLANDS AND MOUNTAINS EDGE COMMUNITIES WITHOUT THE FEES AND TRAFFIC.

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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: Highlands Ranch

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320k340k360kPrice in $119k369k

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

Neighborhood: Highlands Ranch

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2110012001300140015001600170018001900Rent in $10761902

* 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
Aldeane Comito Ries Elementary School Primary Regular 975 57 4
Lois And Jerry Tarkanian Middle School Middle Regular 1,739 71 NA
Desert Oasis High School High Regular 2,417 102 5

Aldeane Comito Ries Elementary School

  • Education Level: Primary
  • # of students: 975
  • # of teachers: 57
4
GreatSchools Rating

Lois And Jerry Tarkanian Middle School

  • Education Level: Middle
  • # of students: 1,739
  • # of teachers: 71
NA
GreatSchools Rating

Desert Oasis High School

  • Education Level: High
  • # of students: 2,417
  • # of teachers: 102
5
GreatSchools Rating
 

$337,500$412,500$375,000

PURCHASE PRICE

$1,800$2,200$2,000

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,000
EXPENSES Loan Payment -$1,384
Property Tax -$267
Property Insurance -$72
Property Management Fees -$119
CASH FLOW
$159

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.

$375,000

PROJECTED PRICE

$2,000

PROJECTED RENT

0.53%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.05%
Appreciation Year (1-5) 6.5%
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

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$105,125

INVESTMENT

$105,125

Down Payment
$93,750
Rehab Estimate
$5,750
Closing Costs
$5,625

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,384

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $93,750
Loan Amount $281,250
See What Happens When You Reinvest Cash Flow

8.25

YEARS SAVED

$47,325

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,000

    LIST RENT
  • $0.87

    LIST RENT PER SQFT
  • $2,021

    COMP ESTIMATED VALUE
  • $0.88

    COMP AVG. RENT PER SQFT
Comps Range
$1,850
1$1,8502$2,0003$2,0004$2,0455$2,195
$2,195
RENT COMPS ANALYSIS
  • 9408 Logan Ridge Court Las Vegas, NV 3
    • 4 beds 2 baths ∙ 2,290 Sqft ∙ Built 2015 4 beds 2 baths ∙ 2,290 Sqft ∙ Built 2015
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $0.87
    •  
  • 9827 Marietta Cellars Court Las Vegas, NV 1
    • 4 beds 3 baths ∙ 2,290 Sqft ∙ Built 2018 4 beds 3 baths ∙ 2,290 Sqft ∙ Built 2018
    LEASED 05/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $0.81
    •  
  • 9854 Smokey Moon Las Vegas, NV 2
    • 4 beds 3 baths ∙ 2,290 Sqft ∙ Built 2018 4 beds 3 baths ∙ 2,290 Sqft ∙ Built 2018
    LEASED 05/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $0.87
    •  
  • 9814 Kodiak Island Court Las Vegas, NV 4
    • 4 beds 2 baths ∙ 2,290 Sqft ∙ Built 2018 4 beds 2 baths ∙ 2,290 Sqft ∙ Built 2018
    LEASED 09/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,045
    • $0.89
    •  
  • 9743 Lone Canary Court Las Vegas, NV 5
    • 4 beds 2 baths ∙ 2,290 Sqft ∙ Built 2017 4 beds 2 baths ∙ 2,290 Sqft ∙ Built 2017
    LEASED 05/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,195
    • $0.96
    •  
PROPERTY LISTING DETAILS
Genevieve M Harakidas
1.702.325.6655
Keller Williams Southern Nevada
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2241674
Last Updated: 11/21/2020
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