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9629 Swan Bay Drive Las Vegas, NV 89117

2 Beds 2 Baths 1,284 sqft Built 1989

INVESTimate

$309,876

List Price

$1,470

$1,323 - $1,617

Rent Est.

$335,906  ( +8.40%)   1 YR EST. FORECAST

PROPERTY INFO

August 22, 2020 RECENTLY ADDED
FACTS
  • Built In 1989
  • Price/Sqft : $241.34
  • 6 Days on Market
  • MLS # : 2223938
  • Updated Date : 08/22/2020 at 13:51
CONSTRUCTION
  • Beds : 2
  • Floor Size : 1,284 sqft
  • Baths : 2 full
Listing Agent

Bhhs Nevada Properties

Listing Agent's Description

This is an outstanding single story home with pool excellent location right on the edge of Summerlin and The Lakes. This cute home has tile flooring throughout the main areas and man made laminate in the bedrooms. Cozy living room has a gas fireplace, kitchen has new granite counter tops, newer refrigerator, washer and dryer, air conditioner is not original, large pool outback with covered patio to cool off. Home is in great condition you will not be disappointed.

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MARKET HIGHLIGHTS

  • 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: 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
 

$278,888$340,864$309,876

PURCHASE PRICE

$1,323$1,617$1,470

RENT

DOWN PAYMENT
FINANCING

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$200k$400k$600k$800k$1.0M

PROJECTED ANNUAL CASH FLOW

11530-$4.0k-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k

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 $1,470
EXPENSES Loan Payment -$1,143
Property Tax -$197
Property Insurance -$52
HOA -$77
Property Management Fees -$119
CASH FLOW
-$119

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.

$309,876

PROJECTED PRICE

$1,470

PROJECTED RENT

0.47%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.05%
Appreciation Year (1-5) 8.40%
Maintenance Year (1-5) 8.00%
Vacancy 7.57%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$87,867

INVESTMENT

$87,867

Down Payment
$77,469
Rehab Estimate
$5,750
Closing Costs
$4,648

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$1,143

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $77,469
Loan Amount $232,407
See What Happens When You Reinvest Cash Flow

4.08

YEARS SAVED

$13,660

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,470

    LIST RENT
  • $1.14

    LIST RENT PER SQFT
  • $1,303

    COMP ESTIMATED VALUE
  • $1.02

    COMP AVG. RENT PER SQFT
Comps Range
$1,200
1$1,2002$1,3003$1,3954$1,4705$1,495
$1,495
RENT COMPS ANALYSIS
  • 9629 Swan Bay Drive Las Vegas, NV 4
    • 2 beds 2 baths ∙ 1,284 Sqft ∙ Built 1989 2 beds 2 baths ∙ 1,284 Sqft ∙ Built 1989
    • Rent
    • Rent Per SQFT
    •  
    • $1,470
    • $1.14
    •  
  • 3327 Erva Street #119 Las Vegas, NV 1
    • 2 beds 1 baths ∙ 1,220 Sqft ∙ Built 1998 2 beds 1 baths ∙ 1,220 Sqft ∙ Built 1998
    LEASED 08/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,200
    • $0.98
    •  
  • 10046 Catalina Canyon Avenue #0 Las Vegas, NV 2
    • 2 beds 1 baths ∙ 1,249 Sqft ∙ Built 1998 2 beds 1 baths ∙ 1,249 Sqft ∙ Built 1998
    LEASED 02/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,300
    • $1.04
    •  
  • 8849 Clear Blue Drive Las Vegas, NV 3
    • 2 beds 3 baths ∙ 1,389 Sqft ∙ Built 1987 2 beds 3 baths ∙ 1,389 Sqft ∙ Built 1987
    LEASED 12/17/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,395
    • $1.00
    •  
  • 9309 Ricardo Lane #- Las Vegas, NV 5
    • 2 beds 2 baths ∙ 1,444 Sqft ∙ Built 1988 2 beds 2 baths ∙ 1,444 Sqft ∙ Built 1988
    LEASED 12/06/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,495
    • $1.04
    •  
PROPERTY LISTING DETAILS
Sonja R Gorgon
1.702.682.1338
Bhhs Nevada Properties
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2223938
Last Updated: 08/22/2020
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