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9700 Cherokee Avenue Las Vegas, NV 89147

3 Beds 3 Baths 2,194 sqft Built 1997

$415,000

List Price

$1,730

$1.6K - $1.9K

Rent Est.

PROPERTY INFO

November 21, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1997
  • Price/Sqft : $189.15
  • 5 Days on Market
  • MLS # : 2249117
  • Updated Date : 11/21/2020 at 13:30
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,194 sqft
  • Baths : 3 full
Listing Agent

Keller Williams Realty Las Vegas

Listing Agent's Description

Fantastic curb appeal in this SW Pool Home! NO HOA! Wood laminate flring &tile flooring throughout the high traffic areas. Vlted ceilings w/ massive windows allow light to pour into frml lvng/dining rms. Dining rm w/custom built-in hutch perfect for your finest serving ware or your treasured nik-naks. Family room w/cozy fireplace, media niche &gorgeous view of super lush "feels like California" bckyrd. Kitchen features brkfst nook &bar, granite countertops, pantry, hanging pot rack, 5 burner stove, built-in microwave &big sink. Refrigerator include. Fun "hobby room" off garage that's completely cooled &heated-tons of workspace, shelving &closet for storage. Huge loft area w/ceiling fan, lots of natural light and additional storage space. 2 bdrms share a jack-n-jill style bthrm. Primary bedroom has shutters, vltd ceilings, walkin closet, garden tub, dual sinks &separate shower. Mega private bckyrd with sparkling pool/spa combo, mature landscaping, cvrd patio w/outdoor kitchen

SEE MORE

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: Spring Valley

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280kPrice in $119k296k

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

Neighborhood: Spring Valley

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2105011001150120012501300135014001450150015501600Rent in $10381606

* 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
Keith And Karen Hayes Elementary School Primary Regular 804 40 9
Victoria Fertitta Middle School Middle Regular 1,472 60 NA
Spring Valley High School High Regular 1,925 79 4

Keith And Karen Hayes Elementary School

  • Education Level: Primary
  • # of students: 804
  • # of teachers: 40
9
GreatSchools Rating

Victoria Fertitta Middle School

  • Education Level: Middle
  • # of students: 1,472
  • # of teachers: 60
NA
GreatSchools Rating

Spring Valley High School

  • Education Level: High
  • # of students: 1,925
  • # of teachers: 79
4
GreatSchools Rating
 

$373,500$456,500$415,000

PURCHASE PRICE

$1,557$1,903$1,730

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,730
EXPENSES Loan Payment -$1,531
Property Tax -$260
Property Insurance -$70
Property Management Fees -$119
CASH FLOW
-$250

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.

$415,000

PROJECTED PRICE

$1,730

PROJECTED RENT

0.42%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.96%
Appreciation Year (1-5) 9.9%
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$1.4M

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$115,725

INVESTMENT

$115,725

Down Payment
$103,750
Rehab Estimate
$5,750
Closing Costs
$6,225

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,531

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $103,750
Loan Amount $311,250
See What Happens When You Reinvest Cash Flow

3

YEARS SAVED

$11,556

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,730

    LIST RENT
  • $0.79

    LIST RENT PER SQFT
  • $1,772

    COMP ESTIMATED VALUE
  • $0.81

    COMP AVG. RENT PER SQFT
Comps Range
$1,630
1$1,6302$1,7003$1,7304$1,9005$2,000
$2,000
RENT COMPS ANALYSIS
  • 9700 Cherokee Avenue Las Vegas, NV 3
    • 3 beds 3 baths ∙ 2,194 Sqft ∙ Built 1997 3 beds 3 baths ∙ 2,194 Sqft ∙ Built 1997
    • Rent
    • Rent Per SQFT
    •  
    • $1,730
    • $0.79
    •  
  • 9554 Sunshade Court Las Vegas, NV 1
    • 4 beds 3 baths ∙ 2,168 Sqft ∙ Built 2000 4 beds 3 baths ∙ 2,168 Sqft ∙ Built 2000
    LEASED 03/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,630
    • $0.75
    •  
  • 9709 Pioneer Avenue Las Vegas, NV 2
    • 4 beds 3 baths ∙ 2,012 Sqft ∙ Built 1998 4 beds 3 baths ∙ 2,012 Sqft ∙ Built 1998
    LEASED 10/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $0.84
    •  
  • 9867 Cherokee Avenue Las Vegas, NV 4
    • 4 beds 3 baths ∙ 2,382 Sqft ∙ Built 1999 4 beds 3 baths ∙ 2,382 Sqft ∙ Built 1999
    LEASED 02/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,900
    • $0.80
    •  
  • 9811 Cornwall Crossing Lane Las Vegas, NV 5
    • 4 beds 3 baths ∙ 2,384 Sqft ∙ Built 2003 4 beds 3 baths ∙ 2,384 Sqft ∙ Built 2003
    LEASED 03/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $0.84
    •  
PROPERTY LISTING DETAILS
Julie Youngblood
1.702.234.8181
Keller Williams Realty Las Vegas
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2249117
Last Updated: 11/21/2020
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