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9675 Elkhorn Road Las Vegas, NV 89149

4 Beds 3 Baths 2,899 sqft Built 2006

$670,000

List Price

$2,410

$2.2K - $2.7K

Rent Est.

PROPERTY INFO

November 20, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2006
  • Price/Sqft : $231.11
  • 3 Days on Market
  • MLS # : 2248969
  • Updated Date : 11/20/2020 at 12:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,899 sqft
  • Baths : 3 full
Listing Agent

Galindo Group Real Estate

Listing Agent's Description

RARE FIND! 1/2 ACRE CUSTOM BUILT SINGLE STORY HOME, NO HOA, 2,899 SQ FT + 407 SQ FT DETACHED CASITA, 3 CAR GARAGE, 82FT RV PARKING WITH RV GATE AND ADDITIONAL RV PARKING IN REAR. WALK INTO AN OPEN-AIR COURTYARD WITH A FIRE PLACE AND SITTING AREA. COURTYARD HAS A DETACHED CASITA THAT BOASTS A KITCHENETTE, WALK IN SHOWER, AND WALK IN CLOSET. STROLL THROUGH THE DOUBLE FRONT DOORS INTO AN OPEN LIVING ROOM WITH BUILT IN SURROUND SOUND AND FIREPLACE. HEAD INTO THE KITCHEN THAT HAS DOUBLE OVENS, WET BAR, AN ISLAND WITH AN ADDITIONAL SINK, AND DINING ROOM AREA.  LAUNDRY ROOM FEATURES UPPER AND LOWER CABINETS, SINK, AND TALL VAULTED CEILINGS. THE ENTIRE HOME HAS CUSTOM SHUTTERS AND TILE THROUGHOUT (NO CARPET). STEP INTO THE POOL-SIZED BACKYARD THAT HAS A COVERED PATIO, RV GATE, AND NO REAR NEIGHBORS. ADDITIONAL STORAGE ROOM BUILT ONTO THE GARAGE ACCESSIBLE IN THE BACKYARD.

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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
Centennial High School High Regular 3,055 124 6

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

Centennial High School

  • Education Level: High
  • # of students: 3,055
  • # of teachers: 124
6
GreatSchools Rating
 

$603,000$737,000$670,000

PURCHASE PRICE

$2,169$2,651$2,410

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,410
EXPENSES Loan Payment -$2,472
Property Tax -$517
Property Insurance -$83
Property Management Fees -$119
CASH FLOW
-$781

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.

$670,000

PROJECTED PRICE

$2,410

PROJECTED RENT

0.36%

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-$15k-$10k-$5.0k$0.0$5.0k$10k$15k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$183,300

INVESTMENT

$183,300

Down Payment
$167,500
Rehab Estimate
$5,750
Closing Costs
$10,050

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 65% down payment or higher enables the proceeds from the asset to cover all costs.

$2,472

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $167,500
Loan Amount $502,500
See What Happens When You Reinvest Cash Flow

0.67

YEARS SAVED

$2,120

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,410

    LIST RENT
  • $0.83

    LIST RENT PER SQFT
  • $2,247

    COMP ESTIMATED VALUE
  • $0.78

    COMP AVG. RENT PER SQFT
Comps Range
$2,100
1$2,1002$2,1003$2,1504$2,4005$2,410
$2,410
RENT COMPS ANALYSIS
  • 9675 Elkhorn Road Las Vegas, NV 5
    • 4 beds 3 baths ∙ 2,899 Sqft ∙ Built 2006 4 beds 3 baths ∙ 2,899 Sqft ∙ Built 2006
    • Rent
    • Rent Per SQFT
    •  
    • $2,410
    • $0.83
    •  
  • 9426 Quiet Valley Avenue Las Vegas, NV 1
    • 5 beds 4 baths ∙ 2,838 Sqft ∙ Built 2004 5 beds 4 baths ∙ 2,838 Sqft ∙ Built 2004
    LEASED 01/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $0.74
    •  
  • 10222 Wolfeboro Avenue Las Vegas, NV 2
    • 4 beds 3 baths ∙ 2,799 Sqft ∙ Built 2011 4 beds 3 baths ∙ 2,799 Sqft ∙ Built 2011
    LEASED 02/25/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $0.75
    •  
  • 9333 Outer Banks Las Vegas, NV 3
    • 4 beds 3 baths ∙ 2,948 Sqft ∙ Built 2005 4 beds 3 baths ∙ 2,948 Sqft ∙ Built 2005
    LEASED 05/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,150
    • $0.73
    •  
  • 9356 Olympia Falls Avenue Las Vegas, NV 4
    • 4 beds 3 baths ∙ 2,733 Sqft ∙ Built 2005 4 beds 3 baths ∙ 2,733 Sqft ∙ Built 2005
    LEASED 10/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,400
    • $0.88
    •  
PROPERTY LISTING DETAILS
Amanda L Workman
1.702.524.7766
Galindo Group Real Estate
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2248969
Last Updated: 11/20/2020
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