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9732 Cathedral Stairs Court Las Vegas, NV 89148

4 Beds 3 Baths 3,034 sqft Built 2001

$550,000

List Price

$2,120

$1.9K - $2.3K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 21, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2001
  • Price/Sqft : $181.28
  • 2 Days on Market
  • MLS # : 2278879
  • Updated Date : 03/21/2021 at 01:09
CONSTRUCTION
  • Beds : 4
  • Floor Size : 3,034 sqft
  • Baths : 3 full
Listing Agent

Realty Pros

Listing Agent's Description

Amazing Pool & SPA, BEAUTIFUL YARD, 3 CAR GARAGE, 3000FT, HUGE LOFT! This charming family home is nestled quietly in a closed-end cul de sac, just off Grand Canyon and Tropicana, easy access to 215 beltway in the desirable Southwest Valley. With full mature landscaping, an immaculate pool & spa and covered patio, tile throughout, stainless appliances and custom shutters there is TONS of value built in to this turn-key family home. One of the upstairs bedrooms has been converted into a custom closet! Must see!

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MARKET HIGHLIGHTS

  • 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)
  • 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)

PRICE & RENT TRENDS

Neighborhood: Rhodes Ranch

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320kPrice in $119k339k

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

Neighborhood: Rhodes Ranch

NeighborhoodNIR Market*CityMarket2010Year20002019 Q211001200130014001500160017001800Rent in $10551829

* 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
Lucille Rogers Elementary School Primary Regular 775 43 9
Victoria Fertitta Middle School Middle Regular 1,472 60 NA
Durango High School High Regular 2,302 95 5

Lucille Rogers Elementary School

  • Education Level: Primary
  • # of students: 775
  • # of teachers: 43
9
GreatSchools Rating

Victoria Fertitta Middle School

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

Durango High School

  • Education Level: High
  • # of students: 2,302
  • # of teachers: 95
5
GreatSchools Rating
 

$495,000$605,000$550,000

PURCHASE PRICE

$1,908$2,332$2,120

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,120
EXPENSES Loan Payment -$1,910
Property Tax -$322
Property Insurance -$86
Property Management Fees -$119
CASH FLOW
-$318

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.

$550,000

PROJECTED PRICE

$2,120

PROJECTED RENT

0.39%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.96%
Appreciation Year (1-5) 8.8%
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$1.6M$1.8M

PROJECTED ANNUAL CASH FLOW

11530-$5.0k$0.0$5.0k$10k$15k$20k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M$1.6M$1.8M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$151,500

INVESTMENT

$151,500

Down Payment
$137,500
Rehab Estimate
$5,750
Closing Costs
$8,250

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,910

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $137,500
Loan Amount $412,500
See What Happens When You Reinvest Cash Flow

2.75

YEARS SAVED

$11,948

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,120

    LIST RENT
  • $0.7

    LIST RENT PER SQFT
  • $2,139

    COMP ESTIMATED VALUE
  • $0.71

    COMP AVG. RENT PER SQFT
Comps Range
$1,795
1$1,7952$2,1003$2,1204$2,1505$2,300
$2,300
RENT COMPS ANALYSIS
  • 9732 Cathedral Stairs Court Las Vegas, NV 3
    • 4 beds 3 baths ∙ 3,034 Sqft ∙ Built 2001 4 beds 3 baths ∙ 3,034 Sqft ∙ Built 2001
    • Rent
    • Rent Per SQFT
    •  
    • $2,120
    • $0.70
    •  
  • 9571 Newton Grove Court #0 Las Vegas, NV 1
    • 4 beds 2 baths ∙ 2,917 Sqft ∙ Built 2001 4 beds 2 baths ∙ 2,917 Sqft ∙ Built 2001
    LEASED 12/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,795
    • $0.62
    •  
  • 9704 Diablo Drive Las Vegas, NV 2
    • 4 beds 3 baths ∙ 2,862 Sqft ∙ Built 2002 4 beds 3 baths ∙ 2,862 Sqft ∙ Built 2002
    LEASED 10/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $0.73
    •  
  • 9828 Sedona Shrine Avenue #0 Las Vegas, NV 4
    • 5 beds 4 baths ∙ 3,036 Sqft ∙ Built 2004 5 beds 4 baths ∙ 3,036 Sqft ∙ Built 2004
    LEASED 12/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,150
    • $0.71
    •  
  • 9738 Driftwood Island Court Las Vegas, NV 5
    • 5 beds 2 baths ∙ 3,034 Sqft ∙ Built 2001 5 beds 2 baths ∙ 3,034 Sqft ∙ Built 2001
    LEASED 12/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $0.76
    •  
PROPERTY LISTING DETAILS
Kendall Thacker
1.702.533.0569
Realty Pros
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2278879
Last Updated: 03/21/2021
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