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9713 Fast Elk Street Las Vegas, NV 89143

4 Beds 3 Baths 1,851 sqft Built 2004

$325,000

List Price

$1,430

$1.3K - $1.6K

Rent Est.

PROPERTY INFO

November 17, 2020 RECENTLY ADDED
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.

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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: Elkridge

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320k340k360kPrice in $119k362k

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

Neighborhood: Elkridge

NeighborhoodNIR Market*CityMarket2010Year20002019 Q211001200130014001500160017001800Rent in $10591875

* 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
James Bilbray Elementary School Primary Regular 763 39 9
Ralph Cadwallader Middle School Middle Regular 1,480 63 NA
Arbor View High School High Regular 2,878 116 9

James Bilbray Elementary School

  • Education Level: Primary
  • # of students: 763
  • # of teachers: 39
9
GreatSchools Rating

Ralph Cadwallader Middle School

  • Education Level: Middle
  • # of students: 1,480
  • # of teachers: 63
NA
GreatSchools Rating

Arbor View High School

  • Education Level: High
  • # of students: 2,878
  • # of teachers: 116
9
GreatSchools Rating
 

$292,500$357,500$325,000

PURCHASE PRICE

$1,287$1,573$1,430

RENT

DOWN PAYMENT
FINANCING

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

ASSUMPTIONS

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
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

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$91,875

INVESTMENT

$91,875

Down Payment
$81,250
Rehab Estimate
$5,750
Closing Costs
$4,875

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 60% down payment or higher enables the proceeds from the asset to cover all costs.

$1,199

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $81,250
Loan Amount $243,750
See What Happens When You Reinvest Cash Flow

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
$1,430
1$1,4302$1,4953$1,5004$1,5955$1,700
$1,700
RENT COMPS ANALYSIS
  • 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
Carley Sullins-herman
1.702.460.3063
Keller Williams Realty Sw
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2248658
Last Updated: 11/18/2020
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