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9608 University Ridge Avenue Las Vegas, NV 89149

4 Beds 3 Baths 3,231 sqft Built 2015

$540,000

List Price

$2,490

$2.2K - $2.7K

Rent Est.

PROPERTY INFO

December 11, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2015
  • Price/Sqft : $167.13
  • 3 Days on Market
  • MLS # : 2255103
  • Updated Date : 12/11/2020 at 14:30
CONSTRUCTION
  • Beds : 4
  • Floor Size : 3,231 sqft
  • Baths : 3 full
Listing Agent

Opendoor Brokerage Llc

Listing Agent's Description

Built in 2015, this Las Vegas two-story home offers granite countertops and a three-car garage.

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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: Centennial Hills

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320k340k360kPrice in $119k362k

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

Neighborhood: Centennial Hills

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
Kenneth Divich Elementary Primary Unknown NA
Edmundo Eddie Escobedo Sr Middle School Middle Regular 1,171 47 NA
Arbor View High School High Regular 2,878 116 9

Kenneth Divich Elementary

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

Edmundo Eddie Escobedo Sr Middle School

  • Education Level: Middle
  • # of students: 1,171
  • # of teachers: 47
NA
GreatSchools Rating

Arbor View High School

  • Education Level: High
  • # of students: 2,878
  • # of teachers: 116
9
GreatSchools Rating
 

$486,000$594,000$540,000

PURCHASE PRICE

$2,241$2,739$2,490

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,490
EXPENSES Loan Payment -$1,992
Property Tax -$447
Property Insurance -$90
Property Management Fees -$119
CASH FLOW
-$158

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.

$540,000

PROJECTED PRICE

$2,490

PROJECTED RENT

0.46%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.05%
Appreciation Year (1-5) 10.3%
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

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M$1.6M$1.8M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$148,850

INVESTMENT

$148,850

Down Payment
$135,000
Rehab Estimate
$5,750
Closing Costs
$8,100

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,992

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $135,000
Loan Amount $405,000
See What Happens When You Reinvest Cash Flow

4.42

YEARS SAVED

$27,229

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,490

    LIST RENT
  • $0.77

    LIST RENT PER SQFT
  • $2,544

    COMP ESTIMATED VALUE
  • $0.79

    COMP AVG. RENT PER SQFT
Comps Range
$2,399
1$2,3992$2,4003$2,4904$2,4995$2,500
$2,500
RENT COMPS ANALYSIS
  • 9608 University Ridge Avenue Las Vegas, NV 3
    • 4 beds 3 baths ∙ 3,231 Sqft ∙ Built 2015 4 beds 3 baths ∙ 3,231 Sqft ∙ Built 2015
    • Rent
    • Rent Per SQFT
    •  
    • $2,490
    • $0.77
    •  
  • 10016 Sharp Ridge Avenue Las Vegas, NV 1
    • 5 beds 4 baths ∙ 3,087 Sqft ∙ Built 2005 5 beds 4 baths ∙ 3,087 Sqft ∙ Built 2005
    LEASED 02/25/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,399
    • $0.78
    •  
  • 7721 Native Winds Court Las Vegas, NV 2
    • 5 beds 3 baths ∙ 3,087 Sqft ∙ Built 2005 5 beds 3 baths ∙ 3,087 Sqft ∙ Built 2005
    LEASED 03/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,400
    • $0.78
    •  
  • 10145 Rockridge Peak Avenue #0 Las Vegas, NV 4
    • 5 beds 3 baths ∙ 3,126 Sqft ∙ Built 2009 5 beds 3 baths ∙ 3,126 Sqft ∙ Built 2009
    LEASED 11/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,499
    • $0.80
    •  
  • 9131 Irish Elk Avenue Las Vegas, NV 5
    • 4 beds 4 baths ∙ 3,179 Sqft ∙ Built 2017 4 beds 4 baths ∙ 3,179 Sqft ∙ Built 2017
    LEASED 10/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $0.79
    •  
PROPERTY LISTING DETAILS
Alexis M Rogers
1.702.710.3787
Opendoor Brokerage Llc
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2255103
Last Updated: 12/11/2020
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