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PROPERTY INFO
FACTS
- Single Family
- Built In 2004
- Price/Sqft : $175.58
- 7 Days on Market
- MLS # : 2248658
- Updated Date : 11/18/2020 at 20:45
CONSTRUCTION
- Beds : 4
- Floor Size : 1,851 sqft
- Baths : 2 full , 1 half
Listing Agent
Keller Williams Realty Sw
Listing Agent's Description
This stunning gated Spring Mt Ranch home in the heart of the NW is ready to be yours! This unique split level home offers open concept and spacious dual living to accommodate the buyer needing 4 beds and 2 living areas on both levels. The home is a true 3 bed with a double door den and can act as either a 4th bedroom or office. The main floor has a large kitchen that is open to the dining and family room. All kitchen appliances are stainless steel and new in the last few years. The balcony off the top level is the length of the back of the home and is perfect for morning coffee facing the mountains or the perfect spot for a cold drink and a nice book. The bottom level leads out to the covered patio and a peaceful backyard filled with mature landscaping. The large yard leaves endless possibilities for animals, kids, or just simple entertaining area for guests and any buyers wants and needs. The community park outshines the other communities with endless green grass and walking trails.
SEE MORE
- 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: Elkridge
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: Elkridge
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $1,430 |
| EXPENSES | Loan Payment | -$1,199 |
| Property Tax | -$251 | |
| Property Insurance | -$63 | |
| Property Management Fees | -$119 | |
|
CASH FLOW
-$203
|
||
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.
$325,000
PROJECTED PRICE
$1,430
PROJECTED RENT
0.44%
PROJECTED RENT / PRICE RATIO
| Expense Inflation | 2.50% |
| Rental Growth Year (1-5) | 4.05% |
| Appreciation Year (1-5) | 9.8% |
| Maintenance Year (1-5) | 8.00% |
| Vacancy | 7.57% |
| Length of Stay Years | 2 |
PROJECTED ACCUMULATED WEALTH
30 YEAR PROJECTION
- Cash Flow
- Appreciation
- Principal
PROJECTED ANNUAL CASH FLOW
PROJECTED PROPERTY VALUE
30 YEAR PROJECTION
- Appreciation
- Principal
- Loan Balance
TOTAL CASH OUT OF POCKET
INVESTMENT
$91,875
LOAN DETAILS
$1,199
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 4.25% |
| Down Payment | $81,250 |
| Loan Amount | $243,750 |
3
YEARS SAVED
$8,787
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$1,430
LIST RENT -
$0.77
LIST RENT PER SQFT
-
$1,536
COMP ESTIMATED VALUE -
$0.83
COMP AVG. RENT PER SQFT
Comps Range
-
9713 Fast Elk Street Las Vegas, NV 1
- 4 beds 3 baths ∙ 1,851 Sqft ∙ Built 2004 4 beds 3 baths ∙ 1,851 Sqft ∙ Built 2004
- Rent
- Rent Per SQFT
- $1,430
- $0.77
-
9832 Fast Elk Street #0 Las Vegas, NV 2
- 3 beds 3 baths ∙ 1,851 Sqft ∙ Built 2004 3 beds 3 baths ∙ 1,851 Sqft ∙ Built 2004
LEASED 03/27/20- Rent
- Rent Per SQFT
- $1,495
- $0.81
-
9020 Blue Raven Avenue Las Vegas, NV 3
- 3 beds 2 baths ∙ 1,826 Sqft ∙ Built 2004 3 beds 2 baths ∙ 1,826 Sqft ∙ Built 2004
LEASED 01/17/20- Rent
- Rent Per SQFT
- $1,500
- $0.82
-
9705 Red Horse Street Las Vegas, NV 4
- 4 beds 3 baths ∙ 1,954 Sqft ∙ Built 2004 4 beds 3 baths ∙ 1,954 Sqft ∙ Built 2004
LEASED 09/14/20- Rent
- Rent Per SQFT
- $1,595
- $0.82
-
9812 Red Horse Street Las Vegas, NV 5
- 4 beds 3 baths ∙ 1,954 Sqft ∙ Built 2004 4 beds 3 baths ∙ 1,954 Sqft ∙ Built 2004
LEASED 10/01/20- Rent
- Rent Per SQFT
- $1,700
- $0.87
PROPERTY LISTING DETAILS
1.702.460.3063
Keller Williams Realty Sw
1.866.250.5610
Mynd Property Management
1453579
MLS #: 2248658
Last Updated: 11/18/2020
