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9604 Cedargreen Court Las Vegas, NV 89139

3 Beds 3 Baths 2,443 sqft Built 2017

INVESTimate

$355,000

List Price

$2,000

$1,800 - $2,200

Rent Est.

$99,825

Investment Est.

$377,898  ( +6.45%)   1 YR EST. FORECAST

PROPERTY INFO

FACTS
  • Built In 2017
  • Price/Sqft : $145.31
  • 9 Days on Market
  • MLS # : 2222854
  • Updated Date : 08/24/2020 at 16:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,443 sqft
  • Baths : 2 full , 1 half
Listing Agent

Keller Williams Market Place I

Listing Agent's Description

A BEAUTIFUL 3 STORY NEW CONSTRUCTION HOME* A MODERN DESERT OASIS, THE OPEN AND INVITING KITCHEN HAS A WONDERFUL ISLAND WITH BRAND NEW KITCHEN APPLIANCES* THE CABINETS GO FROM TOP TO BOTTOM FOR ULTIMATE SPACE* LOTS OF NATURAL LIGHT IN THIS INCREDIBLE LAS VEGAS HOME

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MARKET HIGHLIGHTS

Las Vegas Market Report
  • 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)
  • As the largest share, Las Vegas metro contributes to 75.1% of Nevada state's economy i.e. Gross State Product (USMayors.org, 2018)

PRICE & RENT TRENDS

Neighborhood: Highlands Ranch

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320k340k360kPrice in $119k369k

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

Neighborhood: Highlands Ranch

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2110012001300140015001600170018001900Rent in $10761902

* 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
Aldeane Comito Ries Elementary School Primary Regular 975 57 4
Lois And Jerry Tarkanian Middle School Middle Regular 1,739 71 NA
Desert Oasis High School High Regular 2,417 102 5

Aldeane Comito Ries Elementary School

  • Education Level: Primary
  • # of students: 975
  • # of teachers: 57
4
GreatSchools Rating

Lois And Jerry Tarkanian Middle School

  • Education Level: Middle
  • # of students: 1,739
  • # of teachers: 71
NA
GreatSchools Rating

Desert Oasis High School

  • Education Level: High
  • # of students: 2,417
  • # of teachers: 102
5
GreatSchools Rating
 

FINANCIALS

Learn how to read this

$319,500$390,500$355,000

PURCHASE PRICE

$1,800$2,200$2,000

RENT

DOWN PAYMENT
FINANCING
Learn how to read this

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$20k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation

  • Principal

  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,000
EXPENSES Loan Payment -$1,310
Property Tax -$312
Property Insurance -$75
HOA -$33
Property Management Fees -$119
CASH FLOW
$151

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.

$355,000

PROJECTED PRICE

$2,000

PROJECTED RENT

0.56%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.05%
Appreciation Year (1-5) 6.45%
Maintenance Year (1-5) 8.00%
Vacancy 7.57%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$99,825

INVESTMENT

$99,825

Down Payment		 $88,750
Rehab Estimate		 $5,750
Closing Costs		 $5,325

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 40% down payment or higher enables the proceeds from the asset to cover all costs.

$1,310

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $88,750
Loan Amount $266,250
See What Happens When You Reinvest Cash Flow

8

YEARS SAVED

$43,320

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,000

    LIST RENT

  • $0.82

    LIST RENT PER SQFT

  • $2,095

    COMP ESTIMATED VALUE

  • $0.86

    COMP AVG. RENT PER SQFT
Comps Range
$1,850
1$1,8502$1,8503$2,0004$2,0005$2,150
$2,150
RENT COMPS ANALYSIS
  • 9604 Cedargreen Court Las Vegas, NV 4
    • 3 beds 3 baths ∙ 2,443 Sqft ∙ Built 2017 3 beds 3 baths ∙ 2,443 Sqft ∙ Built 2017
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $0.82
    •  
  • 5650 Dancing Bee Court Las Vegas, NV 1
    • 4 beds 2 baths ∙ 2,290 Sqft ∙ Built 2018 4 beds 2 baths ∙ 2,290 Sqft ∙ Built 2018
    property image
    LEASED 10/01/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $0.81
    •  
  • 9827 Marietta Cellars Court Las Vegas, NV 2
    • 4 beds 3 baths ∙ 2,290 Sqft ∙ Built 2018 4 beds 3 baths ∙ 2,290 Sqft ∙ Built 2018
    property image
    LEASED 05/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $0.81
    •  
  • 9854 Smokey Moon Las Vegas, NV 3
    • 4 beds 3 baths ∙ 2,290 Sqft ∙ Built 2018 4 beds 3 baths ∙ 2,290 Sqft ∙ Built 2018
    property image
    LEASED 05/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $0.87
    •  
  • 5212 Ledgewood Creek Avenue Las Vegas, NV 5
    • 4 beds 3 baths ∙ 2,290 Sqft ∙ Built 2013 4 beds 3 baths ∙ 2,290 Sqft ∙ Built 2013
    property image
    LEASED 07/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,150
    • $0.94
    •  
PROPERTY LISTING DETAILS
LISTING AGENT
Tania Michaels
1.702.675.8211
Keller Williams Market Place I
BUYER AGENT
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
SOURCE
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2222854
Last Updated: 08/24/2020

All returns, cash flow, and appreciation estimates are projections. Please review our Disclaimer for more information.

All values are rounded to the nearest dollar.
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