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9489 Lenox Crater Court Las Vegas, NV 89148

4 Beds 3 Baths 2,232 sqft Built 2003

$365,000

List Price

$1,630

$1.5K - $1.8K

Rent Est.

PROPERTY INFO

December 12, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2003
  • Price/Sqft : $163.53
  • 2 Days on Market
  • MLS # : 2255320
  • Updated Date : 12/12/2020 at 12:30
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,232 sqft
  • Baths : 2 full , 1 half
Listing Agent

Bhhs Nevada Properties

Listing Agent's Description

Cozy 2 Story home in Southwest, near Shopping and freeway access. Granite Kitchen counter tops, Stainless steel appliances, meticulously maintained with tile and carpet flooring throughout. all bedrooms and laundry upstairs. Loft can be used as Large optional 4th bedroom with Walk in closet. Large backyard with covered patio w/Balcony and pavers. All Appliances included.

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: Rhodes Ranch

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320kPrice in $119k339k

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

Neighborhood: Rhodes Ranch

NeighborhoodNIR Market*CityMarket2010Year20002019 Q211001200130014001500160017001800Rent in $10551829

* 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
Lucille Rogers Elementary School Primary Regular 775 43 9
Victoria Fertitta Middle School Middle Regular 1,472 60 NA
Durango High School High Regular 2,302 95 5

Lucille Rogers Elementary School

  • Education Level: Primary
  • # of students: 775
  • # of teachers: 43
9
GreatSchools Rating

Victoria Fertitta Middle School

  • Education Level: Middle
  • # of students: 1,472
  • # of teachers: 60
NA
GreatSchools Rating

Durango High School

  • Education Level: High
  • # of students: 2,302
  • # of teachers: 95
5
GreatSchools Rating
 

$328,500$401,500$365,000

PURCHASE PRICE

$1,467$1,793$1,630

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,630
EXPENSES Loan Payment -$1,347
Property Tax -$233
Property Insurance -$70
Property Management Fees -$119
CASH FLOW
-$139

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.

$365,000

PROJECTED PRICE

$1,630

PROJECTED RENT

0.45%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.96%
Appreciation Year (1-5) 8.8%
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$1.2M

PROJECTED ANNUAL CASH FLOW

11530-$5.0k$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$1.2M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$102,475

INVESTMENT

$102,475

Down Payment
$91,250
Rehab Estimate
$5,750
Closing Costs
$5,475

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$1,347

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $91,250
Loan Amount $273,750
See What Happens When You Reinvest Cash Flow

4.08

YEARS SAVED

$16,279

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,630

    LIST RENT
  • $0.73

    LIST RENT PER SQFT
  • $1,624

    COMP ESTIMATED VALUE
  • $0.73

    COMP AVG. RENT PER SQFT
Comps Range
$1,600
1$1,6002$1,6303$1,6504$1,6955$1,900
$1,900
RENT COMPS ANALYSIS
  • 9489 Lenox Crater Court Las Vegas, NV 2
    • 4 beds 3 baths ∙ 2,232 Sqft ∙ Built 2003 4 beds 3 baths ∙ 2,232 Sqft ∙ Built 2003
    • Rent
    • Rent Per SQFT
    •  
    • $1,630
    • $0.73
    •  
  • 9523 Scottville Court #na Las Vegas, NV 1
    • 4 beds 3 baths ∙ 2,370 Sqft ∙ Built 2001 4 beds 3 baths ∙ 2,370 Sqft ∙ Built 2001
    LEASED 08/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $0.68
    •  
  • 9643 Tuscola Court Las Vegas, NV 3
    • 3 beds 3 baths ∙ 2,262 Sqft ∙ Built 2000 3 beds 3 baths ∙ 2,262 Sqft ∙ Built 2000
    LEASED 05/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.73
    •  
  • 9560 West Mesa Vista Avenue #- Las Vegas, NV 4
    • 4 beds 3 baths ∙ 2,390 Sqft ∙ Built 2001 4 beds 3 baths ∙ 2,390 Sqft ∙ Built 2001
    LEASED 07/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $0.71
    •  
  • 9642 Tuscola Court Las Vegas, NV 5
    • 4 beds 3 baths ∙ 2,390 Sqft ∙ Built 2000 4 beds 3 baths ∙ 2,390 Sqft ∙ Built 2000
    LEASED 05/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,900
    • $0.79
    •  
PROPERTY LISTING DETAILS
Dustin Dufour
1.702.964.0777
Bhhs Nevada Properties
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2255320
Last Updated: 12/12/2020
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