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9684 Brooks Lake Avenue Las Vegas, NV 89148

3 Beds 3 Baths 1,462 sqft Built 2003

$304,900

List Price

$1,400

$1.3K - $1.5K

Rent Est.

PROPERTY INFO

January 22, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2003
  • Price/Sqft : $208.55
  • 3 Days on Market
  • MLS # : 2263612
  • Updated Date : 01/22/2021 at 22:21
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,462 sqft
  • Baths : 2 full , 1 half
Listing Agent

Gk Properties

Listing Agent's Description

Welcome home to this beautiful two story home in the highly desired west side of town. Open floor concept with large living room and dining area. Kitchen with wood flooring, laminate countertops, and pantry with laundry area. Primary bedroom upstairs with large walk-in closet. Primary bathroom with makeup vanity and wood flooring. Create your dream backyard with this oversized lot. Don't miss the opportunity to call this home your own.

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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)

PRICE & RENT TRENDS

Neighborhood: Southern Terrace

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320kPrice in $119k329k

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

Neighborhood: Southern Terrace

NeighborhoodNIR Market*CityMarket2010Year20002019 Q210001100120013001400150016001700Rent in $9691735

* 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
 

$274,410$335,390$304,900

PURCHASE PRICE

$1,260$1,540$1,400

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,400
EXPENSES Loan Payment -$1,059
Property Tax -$191
Property Insurance -$56
Property Management Fees -$119
CASH FLOW
-$25

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.

$304,900

PROJECTED PRICE

$1,400

PROJECTED RENT

0.46%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.96%
Appreciation Year (1-5) 10.4%
Maintenance Year (1-5) 8.00%
Vacancy 7.63%
Length of Stay Years 2

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-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k$16k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$86,549

INVESTMENT

$86,549

Down Payment
$76,225
Rehab Estimate
$5,750
Closing Costs
$4,574

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,059

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $76,225
Loan Amount $228,675
See What Happens When You Reinvest Cash Flow

5.42

YEARS SAVED

$17,723

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,400

    LIST RENT
  • $0.96

    LIST RENT PER SQFT
  • $1,400

    COMP ESTIMATED VALUE
  • $0.96

    COMP AVG. RENT PER SQFT
Comps Range
$1,350
1$1,3502$1,3953$1,4004$1,4505$1,500
$1,500
RENT COMPS ANALYSIS
  • 9684 Brooks Lake Avenue Las Vegas, NV 3
    • 3 beds 3 baths ∙ 1,462 Sqft ∙ Built 2003 3 beds 3 baths ∙ 1,462 Sqft ∙ Built 2003
    • Rent
    • Rent Per SQFT
    •  
    • $1,400
    • $0.96
    •  
  • 9623 Giddings Avenue Las Vegas, NV 1
    • 3 beds 2 baths ∙ 1,362 Sqft ∙ Built 2003 3 beds 2 baths ∙ 1,362 Sqft ∙ Built 2003
    LEASED 01/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,350
    • $0.99
    •  
  • 6817 Wimberly Street Las Vegas, NV 2
    • 3 beds 3 baths ∙ 1,462 Sqft ∙ Built 2004 3 beds 3 baths ∙ 1,462 Sqft ∙ Built 2004
    LEASED 02/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,395
    • $0.95
    •  
  • 6689 Broadacres Ranch Street Las Vegas, NV 4
    • 3 beds 3 baths ∙ 1,462 Sqft ∙ Built 2002 3 beds 3 baths ∙ 1,462 Sqft ∙ Built 2002
    LEASED 02/25/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $0.99
    •  
  • 6811 Wimberly Street Las Vegas, NV 5
    • 4 beds 3 baths ∙ 1,662 Sqft ∙ Built 2004 4 beds 3 baths ∙ 1,662 Sqft ∙ Built 2004
    LEASED 07/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $0.90
    •  
PROPERTY LISTING DETAILS
George Kypreos
1.702.815.1555
Gk Properties
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2263612
Last Updated: 01/22/2021
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