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9420 Forest Edge Avenue Las Vegas, NV 89149

4 Beds 2 Baths 2,733 sqft Built 2005

$487,000

List Price

$2,180

$2K - $2.4K

Rent Est.

PROPERTY INFO

January 14, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2005
  • Price/Sqft : $178.19
  • 4 Days on Market
  • MLS # : 2261654
  • Updated Date : 01/14/2021 at 20:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,733 sqft
  • Baths : 2 full
Listing Agent

Congress Realty

Listing Agent's Description

4 bd, 3 ba Centennial Hills home! Gated courtyard welcomes you to the home, open floor plan & natural light past the dbl door entry invite you to stay. Formal LR & DR sit ahead of tiled foyer w wall of windows overlooking backyard. LR w engineered vinyl floors & BI-ent center! Space opens to gourmet KIT w granite countertops, huge center island, dbl ovens, gas cooktop, ample cabinet space & breakfast nook! Primary suite w BI-armoire, WIC, dual vanities, shower & soaking tub. 3 bdrms, two of which share a Jack & Jill bath, while the other has access to the full hallway bath. Laundry room. Covered cement patio! Backyard is private & low maintenance w greenery & rock landscaping. Newer Central AC & Forced Air heating. Dbl paned windows. 3 car garage. HOA maintains the streets & parkways. Community consists of open areas & parks w trails. Centennial Shopping Center w 900,000sf of boutique stores, restaurants & movie theaters! Easy access to hwy 95, Bruce Woodbury Beltway & Las Vegas Strip.

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: 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
Sandra L. Thompson Elementary School Primary Regular 798 39 8
Edmundo Eddie Escobedo Sr Middle School Middle Regular 1,171 47 NA
Arbor View High School High Regular 2,878 116 9

Sandra L. Thompson Elementary School

  • Education Level: Primary
  • # of students: 798
  • # of teachers: 39
8
GreatSchools Rating

Edmundo Eddie Escobedo Sr Middle School

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

Arbor View High School

  • Education Level: High
  • # of students: 2,878
  • # of teachers: 116
9
GreatSchools Rating
 

$438,300$535,700$487,000

PURCHASE PRICE

$1,962$2,398$2,180

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,180
EXPENSES Loan Payment -$1,692
Property Tax -$363
Property Insurance -$80
Property Management Fees -$119
CASH FLOW
-$73

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.

$487,000

PROJECTED PRICE

$2,180

PROJECTED RENT

0.45%

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$200k$400k$600k$800k$1.0M$1.2M$1.4M$1.6M$1.8M

PROJECTED ANNUAL CASH FLOW

11530-$5.0k$0.0$5.0k$10k$15k$20k

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$134,805

INVESTMENT

$134,805

Down Payment
$121,750
Rehab Estimate
$5,750
Closing Costs
$7,305

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,692

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $121,750
Loan Amount $365,250
See What Happens When You Reinvest Cash Flow

5.08

YEARS SAVED

$25,218

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,180

    LIST RENT
  • $0.8

    LIST RENT PER SQFT
  • $1,988

    COMP ESTIMATED VALUE
  • $0.73

    COMP AVG. RENT PER SQFT
Comps Range
$1,725
1$1,7252$1,9953$2,0504$2,1005$2,180
$2,180
RENT COMPS ANALYSIS
  • 9420 Forest Edge Avenue Las Vegas, NV 5
    • 4 beds 2 baths ∙ 2,733 Sqft ∙ Built 2005 4 beds 2 baths ∙ 2,733 Sqft ∙ Built 2005
    • Rent
    • Rent Per SQFT
    •  
    • $2,180
    • $0.80
    •  
  • 9425 Silent Oak Court #0 Las Vegas, NV 1
    • 3 beds 3 baths ∙ 2,632 Sqft ∙ Built 2005 3 beds 3 baths ∙ 2,632 Sqft ∙ Built 2005
    LEASED 01/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,725
    • $0.66
    •  
  • 9346 Wittig Avenue Las Vegas, NV 2
    • 3 beds 3 baths ∙ 2,621 Sqft ∙ Built 2013 3 beds 3 baths ∙ 2,621 Sqft ∙ Built 2013
    LEASED 11/25/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,995
    • $0.76
    •  
  • 9391 Olympia Falls Avenue #0 Las Vegas, NV 3
    • 4 beds 1 baths ∙ 2,733 Sqft ∙ Built 2003 4 beds 1 baths ∙ 2,733 Sqft ∙ Built 2003
    LEASED 07/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,050
    • $0.75
    •  
  • 9426 Quiet Valley Avenue Las Vegas, NV 4
    • 5 beds 4 baths ∙ 2,838 Sqft ∙ Built 2004 5 beds 4 baths ∙ 2,838 Sqft ∙ Built 2004
    LEASED 01/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $0.74
    •  
PROPERTY LISTING DETAILS
Jared A English
1.888.229.2009
Congress Realty
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2261654
Last Updated: 01/14/2021
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