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9729 Royal Lamb Drive Las Vegas, NV 89145

5 Beds 3 Baths 2,791 sqft Built 1999

$719,500

List Price

$2,820

$2.6K - $3.1K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 04, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1999
  • Price/Sqft : $257.79
  • 4 Days on Market
  • MLS # : 2273640
  • Updated Date : 03/05/2021 at 19:38
CONSTRUCTION
  • Beds : 5
  • Floor Size : 2,791 sqft
  • Baths : 3 full
Listing Agent

First Real Estate Companies

Listing Agent's Description

EASY TO SEE! QUIET AND BEAUTIFUL GATED COMMUNITY- SPACIOUS HOME- EVERYTHING LIKE NEW- FRESH PAINT- LARGE BACKYARD WITH SITTING AREAS, BBQ, BISTRO LIGHTING - LARGE PRIMARY BEDROOM WITH HUGE BALCONY OVERLOOKING BACKYARD, LOFT, NEW CARPET, NEW PAINT, LOTS OF SUNLIGHT - 3 CAR GARAGE WITH BUILT IN CABINETS AND WORKBENCH -

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: Queensridge

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450k500k550k600k650k700kPrice in $119k742k

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

Neighborhood: Queensridge

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2120014001600180020002200240026002800300032003400Rent in $10763408

* 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
John W. Bonner Elementary School Primary Regular 859 47 10
Sig Rogich Middle School Middle Regular 1,845 70 NA
Palo Verde High School High Regular 3,024 114 9

John W. Bonner Elementary School

  • Education Level: Primary
  • # of students: 859
  • # of teachers: 47
10
GreatSchools Rating

Sig Rogich Middle School

  • Education Level: Middle
  • # of students: 1,845
  • # of teachers: 70
NA
GreatSchools Rating

Palo Verde High School

  • Education Level: High
  • # of students: 3,024
  • # of teachers: 114
9
GreatSchools Rating
 

$647,550$791,450$719,500

PURCHASE PRICE

$2,538$3,102$2,820

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,820
EXPENSES Loan Payment -$2,499
Property Tax -$457
Property Insurance -$81
Property Management Fees -$119
CASH FLOW
-$336

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.

$719,500

PROJECTED PRICE

$2,820

PROJECTED RENT

0.39%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.05%
Appreciation Year (1-5) -8.9%
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-$10k-$5.0k$0.0$5.0k$10k$15k$20k$25k

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$196,418

INVESTMENT

$196,418

Down Payment
$179,875
Rehab Estimate
$5,750
Closing Costs
$10,793

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,499

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $179,875
Loan Amount $539,625
See What Happens When You Reinvest Cash Flow

3.42

YEARS SAVED

$21,194

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,820

    LIST RENT
  • $1.01

    LIST RENT PER SQFT
  • $3,000

    COMP ESTIMATED VALUE
  • $1.08

    COMP AVG. RENT PER SQFT
Comps Range
$2,800
1$2,8002$2,8003$2,8204$3,0005$3,100
$3,100
RENT COMPS ANALYSIS
  • 9729 Royal Lamb Drive Las Vegas, NV 3
    • 5 beds 3 baths ∙ 2,791 Sqft ∙ Built 1999 5 beds 3 baths ∙ 2,791 Sqft ∙ Built 1999
    • Rent
    • Rent Per SQFT
    •  
    • $2,820
    • $1.01
    •  
  • 9512 Scenic Sunset Drive Las Vegas, NV 1
    • 5 beds 2 baths ∙ 2,702 Sqft ∙ Built 1992 5 beds 2 baths ∙ 2,702 Sqft ∙ Built 1992
    LEASED 09/03/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,800
    • $1.04
    •  
  • 1505 Breeze Canyon Drive Las Vegas, NV 2
    • 4 beds 3 baths ∙ 2,622 Sqft ∙ Built 1994 4 beds 3 baths ∙ 2,622 Sqft ∙ Built 1994
    LEASED 10/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,800
    • $1.07
    •  
  • 9225 Sienna Vista Drive Las Vegas, NV 4
    • 4 beds 3 baths ∙ 2,994 Sqft ∙ Built 1994 4 beds 3 baths ∙ 2,994 Sqft ∙ Built 1994
    LEASED 01/26/21
    • Rent
    • Rent Per SQFT
    •  
    • $3,000
    • $1.00
    •  
  • 9801 Miss Peach Las Vegas, NV 5
    • 4 beds 3 baths ∙ 2,615 Sqft ∙ Built 1999 4 beds 3 baths ∙ 2,615 Sqft ∙ Built 1999
    LEASED 05/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,100
    • $1.19
    •  
PROPERTY LISTING DETAILS
Lisa Iverson
1.702.798.9988
First Real Estate Companies
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2273640
Last Updated: 03/05/2021
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