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9540 Wooden Pier Way Las Vegas, NV 89117

4 Beds 3 Baths 2,161 sqft Built 1989

$374,900

List Price

$1,680

$1.5K - $1.8K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 17, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1989
  • Price/Sqft : $173.48
  • 5 Days on Market
  • MLS # : 2279279
  • Updated Date : 03/17/2021 at 19:09
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,161 sqft
  • Baths : 2 full , 1 half
Listing Agent

Exp Realty

Listing Agent's Description

YES!!! This beautiful home, nestled in the heart of The Lakes, features highly upgraded flooring, cabinets, counter tops and much more. This is the perfect move-in ready home with a two minute stroll to the Castle Gate Pond and Park. Bright and open with spacious bedrooms, a huge living room and a wonderful family room featuring a cozy fireplace. These are just a few of the features you will enjoy in this great home whenever you are not hanging around your own cooly refreshing pool with family, friends and neighbors. The lush and lovely Lakes community is adjacent to Summerlin and Peccole Ranch and close to recreation, dining, shopping, the library and the 215 with easy access to the entire valley. Downtown Summerlin with it's great restaurants, and fine stores is a short two mile drive. The professional baseball field and Red Rock casino are three miles. An additional short drive takes you to the beautiful Red Rock National Recreation area with world-class hiking and rock climbing.

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: The Section Seven

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320k340k360kPrice in $119k377k

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

Neighborhood: The Section Seven

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
M.j. Christensen Elementary School Primary Regular 615 34 6
Lawrence Junior High School Middle Regular 1,421 61 NA
Bonanza High School High Regular 2,003 83 3

M.j. Christensen Elementary School

  • Education Level: Primary
  • # of students: 615
  • # of teachers: 34
6
GreatSchools Rating

Lawrence Junior High School

  • Education Level: Middle
  • # of students: 1,421
  • # of teachers: 61
NA
GreatSchools Rating

Bonanza High School

  • Education Level: High
  • # of students: 2,003
  • # of teachers: 83
3
GreatSchools Rating
 

$337,410$412,390$374,900

PURCHASE PRICE

$1,512$1,848$1,680

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,680
EXPENSES Loan Payment -$1,302
Property Tax -$232
Property Insurance -$69
Property Management Fees -$119
CASH FLOW
-$42

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.

$374,900

PROJECTED PRICE

$1,680

PROJECTED RENT

0.45%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.05%
Appreciation Year (1-5) 8.4%
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$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$105,099

INVESTMENT

$105,099

Down Payment
$93,725
Rehab Estimate
$5,750
Closing Costs
$5,624

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,302

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $93,725
Loan Amount $281,175
See What Happens When You Reinvest Cash Flow

5.33

YEARS SAVED

$21,262

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,680

    LIST RENT
  • $0.78

    LIST RENT PER SQFT
  • $1,837

    COMP ESTIMATED VALUE
  • $0.85

    COMP AVG. RENT PER SQFT
Comps Range
$1,650
1$1,6502$1,6803$1,6954$1,9955$2,000
$2,000
RENT COMPS ANALYSIS
  • 9540 Wooden Pier Way Las Vegas, NV 2
    • 4 beds 3 baths ∙ 2,161 Sqft ∙ Built 1989 4 beds 3 baths ∙ 2,161 Sqft ∙ Built 1989
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,680
    • $0.78
    •  
  • 3000 Pelican Beach Drive Las Vegas, NV 1
    • 4 beds 3 baths ∙ 2,080 Sqft ∙ Built 1989 4 beds 3 baths ∙ 2,080 Sqft ∙ Built 1989
    property image
    LEASED 07/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.79
    •  
  • 9513 Intercoastal Drive Las Vegas, NV 3
    • 4 beds 3 baths ∙ 2,080 Sqft ∙ Built 1989 4 beds 3 baths ∙ 2,080 Sqft ∙ Built 1989
    property image
    LEASED 01/02/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $0.81
    •  
  • 3213 Sabrina Court Las Vegas, NV 4
    • 4 beds 3 baths ∙ 2,320 Sqft ∙ Built 1989 4 beds 3 baths ∙ 2,320 Sqft ∙ Built 1989
    property image
    LEASED 07/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,995
    • $0.86
    •  
  • 3229 Haven Beach Way Las Vegas, NV 5
    • 4 beds 2 baths ∙ 2,132 Sqft ∙ Built 1988 4 beds 2 baths ∙ 2,132 Sqft ∙ Built 1988
    property image
    LEASED 07/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $0.94
    •  
PROPERTY LISTING DETAILS
Ken West
1.702.755.4536
Exp Realty
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2279279
Last Updated: 03/17/2021
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