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9585 Chandler Springs Avenue Las Vegas, NV 89148

4 Beds 5 Baths 3,870 sqft Built 2017

$749,500

List Price

$2,880

$2.6K - $3.1K

Rent Est.

PROPERTY INFO

December 11, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2017
  • Price/Sqft : $193.67
  • 5 Days on Market
  • MLS # : 2254728
  • Updated Date : 12/11/2020 at 05:11
CONSTRUCTION
  • Beds : 4
  • Floor Size : 3,870 sqft
  • Baths : 4 full , 1 half
Listing Agent

Xpand Realty & Property Manage

Listing Agent's Description

Beautiful 2 story home in the south west. 9' ceilings in gated community. Approximately 3,870 sq. ft. of living space. Home has 4 bedrooms, 4.5 baths with 3 car garage. Downstairs bedroom with its own bath. Kitchen has stainless steel appliances and stone countertops. Covered patio. Tall retaining wall with ample shade. Desert landscaping. Community is adjacent to Wet and Wild water park. Close to shopping and Red Ridge Family Park.

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: Summerlin South

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400kPrice in $119k441k

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

Neighborhood: Summerlin South

ZipNIR Market*CityMarket2010Year20002019 Q211001200130014001500160017001800Rent in $10011875

* 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
Shelley Berkley Elementary School Primary Unknown NA
Wilbur And Theresa Faiss Middle School Middle Regular 1,409 61 NA
Sierra Vista High School High Regular 2,396 88 4

Shelley Berkley Elementary School

  • Education Level: Primary
  • # of students:
  • # of teachers:
NA
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
 

$674,550$824,450$749,500

PURCHASE PRICE

$2,592$3,168$2,880

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,880
EXPENSES Loan Payment -$2,765
Property Tax -$470
Property Insurance -$102
Property Management Fees -$119
CASH FLOW
-$577

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.

$749,500

PROJECTED PRICE

$2,880

PROJECTED RENT

0.38%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.05%
Appreciation Year (1-5) 9.1%
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$500k$1.0M$1.5M$2.0M$2.5M

PROJECTED ANNUAL CASH FLOW

11530-$10k-$5.0k$0.0$5.0k$10k$15k$20k$25k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$500k$1.0M$1.5M$2.0M$2.5M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$204,368

INVESTMENT

$204,368

Down Payment
$187,375
Rehab Estimate
$5,750
Closing Costs
$11,243

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,765

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $187,375
Loan Amount $562,125
See What Happens When You Reinvest Cash Flow

2.25

YEARS SAVED

$13,364

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,880

    LIST RENT
  • $0.74

    LIST RENT PER SQFT
  • $3,057

    COMP ESTIMATED VALUE
  • $0.79

    COMP AVG. RENT PER SQFT
Comps Range
$2,582
1$2,5822$2,7203$2,8804$3,4505$3,500
$3,500
RENT COMPS ANALYSIS
  • 9585 Chandler Springs Avenue Las Vegas, NV 3
    • 4 beds 5 baths ∙ 3,870 Sqft ∙ Built 2017 4 beds 5 baths ∙ 3,870 Sqft ∙ Built 2017
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,880
    • $0.74
    •  
  • 192 Cliff Valley Drive Las Vegas, NV 1
    • 5 beds 4 baths ∙ 3,714 Sqft ∙ Built 1998 5 beds 4 baths ∙ 3,714 Sqft ∙ Built 1998
    property image
    LEASED 02/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,582
    • $0.70
    •  
  • 9494 Chandler Springs Avenue Las Vegas, NV 2
    • 4 beds 4 baths ∙ 3,537 Sqft ∙ Built 2015 4 beds 4 baths ∙ 3,537 Sqft ∙ Built 2015
    property image
    LEASED 06/20/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,720
    • $0.77
    •  
  • 222 Angels Trace Court #222 Las Vegas, NV 4
    • 4 beds 4 baths ∙ 4,108 Sqft ∙ Built 2004 4 beds 4 baths ∙ 4,108 Sqft ∙ Built 2004
    property image
    LEASED 02/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,450
    • $0.84
    •  
  • 121 Hazelmere Las Vegas, NV 5
    • 5 beds 4 baths ∙ 4,108 Sqft ∙ Built 2001 5 beds 4 baths ∙ 4,108 Sqft ∙ Built 2001
    property image
    LEASED 04/25/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,500
    • $0.85
    •  
PROPERTY LISTING DETAILS
Benny Yamagata
1.702.205.4902
Xpand Realty & Property Manage
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2254728
Last Updated: 12/11/2020
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