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9497 Encanto Cavern Court Las Vegas, NV 89148

4 Beds 2 Baths 2,232 sqft Built 2003

$375,000

List Price

$1,800

$1.6K - $2K

Rent Est.

PROPERTY INFO

October 31, 2020 RECENTLY ADDED
FACTS
  • Built In 2003
  • Price/Sqft : $168.01
  • 5 Days on Market
  • MLS # : 2243646
  • Updated Date : 10/31/2020 at 10:20
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,232 sqft
  • Baths : 1 full , 1 half
Listing Agent

Keller Williams Vip

Listing Agent's Description

Inviting end of cul-de-sac, pool home built by America West features a foyer entry that leads to the dining and living rooms with a gas 3-way fireplace. Upgraded kitchen w/ granite counters and breakfast bar peninsula. Step outside under the covered patio to take a dip in the sparkling heated pool and spa with all new energy-efficient pool equipment. The spacious primary bedroom suite is inclusive of a walk-in closet with a built-in organizer, a separate garden tub and shower, and dual sinks. Two of the secondary bedrooms have walk-in closets. A super-sized 4th bedroom leaves lots of room for options. Tile and wood laminate floors, Venetian plaster, and custom paint throughout, and so much more!

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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)

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
 

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

PURCHASE PRICE

$1,620$1,980$1,800

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,800
EXPENSES Loan Payment -$1,384
Property Tax -$260
Property Insurance -$70
Property Management Fees -$119
CASH FLOW
-$33

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

$1,800

PROJECTED RENT

0.48%

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$1.4M

PROJECTED ANNUAL CASH FLOW

11530$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

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 50% 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

5.5

YEARS SAVED

$26,053

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,800

    LIST RENT
  • $0.81

    LIST RENT PER SQFT
  • $1,797

    COMP ESTIMATED VALUE
  • $0.81

    COMP AVG. RENT PER SQFT
Comps Range
$1,700
1$1,7002$1,7953$1,8004$1,8505$1,900
$1,900
RENT COMPS ANALYSIS
  • 9497 Encanto Cavern Court Las Vegas, NV 3
    • 4 beds 2 baths ∙ 2,232 Sqft ∙ Built 2003 4 beds 2 baths ∙ 2,232 Sqft ∙ Built 2003
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $0.81
    •  
  • 9232 Keystone Ridge Avenue Las Vegas, NV 1
    • 4 beds 3 baths ∙ 2,104 Sqft ∙ Built 2016 4 beds 3 baths ∙ 2,104 Sqft ∙ Built 2016
    LEASED 04/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $0.81
    •  
  • 4950 Guysborough Street Las Vegas, NV 2
    • 3 beds 3 baths ∙ 2,238 Sqft ∙ Built 2016 3 beds 3 baths ∙ 2,238 Sqft ∙ Built 2016
    LEASED 01/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,795
    • $0.80
    •  
  • 9628 Mesa Vista Avenue Las Vegas, NV 4
    • 3 beds 3 baths ∙ 2,262 Sqft ∙ Built 2001 3 beds 3 baths ∙ 2,262 Sqft ∙ Built 2001
    LEASED 04/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $0.82
    •  
  • 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
Mary Preheim
1.702.625.3256
Keller Williams Vip
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2243646
Last Updated: 10/31/2020
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