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9511 Alma Ridge Avenue Las Vegas, NV 89178

4 Beds 3 Baths 2,236 sqft Built 2013

$350,000

List Price

$1,440

$1.3K - $1.6K

Rent Est.

PROPERTY INFO

January 02, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2013
  • Price/Sqft : $156.53
  • 3 Days on Market
  • MLS # : 2258737
  • Updated Date : 01/03/2021 at 06:20
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,236 sqft
  • Baths : 2 full , 1 half
Listing Agent

Keller Williams Southern Nevada

Listing Agent's Description

Immaculate 2 story ready to move in home with so many upgrades. Open floor plan downstairs with hardwood flooring and surround sound in living room and on outside patio. The kitchen features granite counter tops, stainless steel appliances with additional lighting under upgraded cabinets and tile flooring. The first floor also features a half bath for guests and a laundry room with sink and additional cabinets. Upstairs, the upgraded plush carpeting leads to an over-sized loft for additional entertaining. The primary bedroom faces the east with a walk-in closet and a private bath that has double sinks and a separate shower/tub. Two additional over sized bedrooms each have walk-in closets. The secondary upstairs bathroom features a walk-in shower which is extremely rare!! The fourth bedroom can be used as an office.

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: Enterprise

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320k340k360kPrice in $119k362k

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

Neighborhood: Enterprise

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2100011001200130014001500160017001800Rent in $9981875

* 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
Robert L. Forbuss Elementary School Primary Regular 1,163 56 7
Wilbur And Theresa Faiss Middle School Middle Regular 1,409 61 NA
Sierra Vista High School High Regular 2,396 88 4

Robert L. Forbuss Elementary School

  • Education Level: Primary
  • # of students: 1,163
  • # of teachers: 56
7
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
 

$315,000$385,000$350,000

PURCHASE PRICE

$1,296$1,584$1,440

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,440
EXPENSES Loan Payment -$1,291
Property Tax -$240
Property Insurance -$71
Property Management Fees -$119
CASH FLOW
-$281

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.

$350,000

PROJECTED PRICE

$1,440

PROJECTED RENT

0.41%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.05%
Appreciation Year (1-5) 9.8%
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

PROJECTED ANNUAL CASH FLOW

11530-$6.0k-$4.0k-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k

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$98,500

INVESTMENT

$98,500

Down Payment
$87,500
Rehab Estimate
$5,750
Closing Costs
$5,250

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 60% down payment or higher enables the proceeds from the asset to cover all costs.

$1,291

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $87,500
Loan Amount $262,500
See What Happens When You Reinvest Cash Flow

2.17

YEARS SAVED

$6,019

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,440

    LIST RENT
  • $0.64

    LIST RENT PER SQFT
  • $1,437

    COMP ESTIMATED VALUE
  • $0.64

    COMP AVG. RENT PER SQFT
Comps Range
$1,350
1$1,3502$1,4403$1,4504$1,5505$1,711
$1,711
RENT COMPS ANALYSIS
  • 9511 Alma Ridge Avenue Las Vegas, NV 2
    • 4 beds 3 baths ∙ 2,236 Sqft ∙ Built 2013 4 beds 3 baths ∙ 2,236 Sqft ∙ Built 2013
    • Rent
    • Rent Per SQFT
    •  
    • $1,440
    • $0.64
    •  
  • 9485 Alma Ridge Avenue #0 Las Vegas, NV 1
    • 3 beds 3 baths ∙ 2,145 Sqft ∙ Built 2012 3 beds 3 baths ∙ 2,145 Sqft ∙ Built 2012
    LEASED 02/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,350
    • $0.63
    •  
  • 9515 Alma Ridge Ave Avenue Las Vegas, NV 3
    • 4 beds 3 baths ∙ 2,423 Sqft ∙ Built 2013 4 beds 3 baths ∙ 2,423 Sqft ∙ Built 2013
    LEASED 01/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $0.60
    •  
  • 9540 Alma Ridge Avenue Las Vegas, NV 4
    • 4 beds 3 baths ∙ 2,423 Sqft ∙ Built 2013 4 beds 3 baths ∙ 2,423 Sqft ∙ Built 2013
    LEASED 01/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $0.64
    •  
  • 9465 Alma Ridge Avenue Las Vegas, NV 5
    • 4 beds 3 baths ∙ 2,435 Sqft ∙ Built 2012 4 beds 3 baths ∙ 2,435 Sqft ∙ Built 2012
    LEASED 08/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,711
    • $0.70
    •  
PROPERTY LISTING DETAILS
Katie Doody
1.702.964.4016
Keller Williams Southern Nevada
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2258737
Last Updated: 01/03/2021
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