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979 Azure Heights Place Las Vegas, NV 89110

4 Beds 2 Baths 3,168 sqft Built 2002

INVESTimate

$389,000

List Price

$1,870

$1,683 - $2,057

Rent Est.

$438,675  ( +12.77%)   1 YR EST. FORECAST

PROPERTY INFO

FACTS
  • Built In 2002
  • Price/Sqft : $122.79
  • 35 Days on Market
  • MLS # : 2216711
  • Updated Date : 08/21/2020 at 20:17
CONSTRUCTION
  • Beds : 4
  • Floor Size : 3,168 sqft
  • Baths : 2 full
Listing Agent

Bhhs Nevada Properties

Listing Agent's Description

Beautiful home with lots of upgrades. Kitchen with granite counter tops, opens to a large Family Room. Bedroom and Bathroom Downstairs. 2 dining area. Nice trees and shrubs throughout property. Den upstairs can be converted to a 5th bedroom.

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MARKET HIGHLIGHTS

  • 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)
  • As the largest share, Las Vegas metro contributes to 75.1% of Nevada state's economy i.e. Gross State Product (USMayors.org, 2018)

PRICE & RENT TRENDS

Neighborhood: Sunrise Manor

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260k280kPrice in $83k296k

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

Neighborhood: Sunrise Manor

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21000105011001150120012501300135014001450150015501600Rent in $9591603

* 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
Eileen Brookman Elementary School Primary Regular 753 35 5
Dr. William H Bob Bailey Middle School Middle Regular 1,202 49 NA
Eldorado High School High Regular 1,920 76 1

Eileen Brookman Elementary School

  • Education Level: Primary
  • # of students: 753
  • # of teachers: 35
5
GreatSchools Rating

Dr. William H Bob Bailey Middle School

  • Education Level: Middle
  • # of students: 1,202
  • # of teachers: 49
NA
GreatSchools Rating

Eldorado High School

  • Education Level: High
  • # of students: 1,920
  • # of teachers: 76
1
GreatSchools Rating
 

$350,100$427,900$389,000

PURCHASE PRICE

$1,683$2,057$1,870

RENT

DOWN PAYMENT
FINANCING

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

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$1.6M

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,870
EXPENSES Loan Payment -$1,435
Property Tax -$285
Property Insurance -$89
HOA -$120
Property Management Fees -$119
CASH FLOW
-$178

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 17% of earned rent to cover both maintenance and periods of vacancy.

$389,000

PROJECTED PRICE

$1,870

PROJECTED RENT

0.48%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.75%
Appreciation Year (1-5) 12.77%
Maintenance Year (1-5) 8.00%
Vacancy 8.50%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$108,835

INVESTMENT

$108,835

Down Payment
$97,250
Rehab Estimate
$5,750
Closing Costs
$5,835

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,435

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $97,250
Loan Amount $291,750
See What Happens When You Reinvest Cash Flow

3

YEARS SAVED

$10,706

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,870

    LIST RENT
  • $0.59

    LIST RENT PER SQFT
  • $1,869

    COMP ESTIMATED VALUE
  • $0.59

    COMP AVG. RENT PER SQFT
Comps Range
$1,795
1$1,7952$1,8503$1,8504$1,8705$1,995
$1,995
RENT COMPS ANALYSIS
  • 979 Azure Heights Place Las Vegas, NV 4
    • 4 beds 2 baths ∙ 3,168 Sqft ∙ Built 2002 4 beds 2 baths ∙ 3,168 Sqft ∙ Built 2002
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,870
    • $0.59
    •  
  • 816 Golden Poppy Street Las Vegas, NV 1
    • 4 beds 2 baths ∙ 3,168 Sqft ∙ Built 2001 4 beds 2 baths ∙ 3,168 Sqft ∙ Built 2001
    property image
    LEASED 09/24/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,795
    • $0.57
    •  
  • 915 Golden Poppy Street Las Vegas, NV 2
    • 4 beds 3 baths ∙ 3,168 Sqft ∙ Built 2001 4 beds 3 baths ∙ 3,168 Sqft ∙ Built 2001
    property image
    LEASED 05/31/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $0.58
    •  
  • 1307 Morning Sun Way Las Vegas, NV 3
    • 3 beds 3 baths ∙ 3,217 Sqft ∙ Built 1985 3 beds 3 baths ∙ 3,217 Sqft ∙ Built 1985
    property image
    LEASED 06/07/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $0.58
    •  
  • 1535 Deerford Circle Las Vegas, NV 5
    • 4 beds 3 baths ∙ 3,166 Sqft ∙ Built 1996 4 beds 3 baths ∙ 3,166 Sqft ∙ Built 1996
    property image
    LEASED 09/13/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,995
    • $0.63
    •  
PROPERTY LISTING DETAILS
Louie Abad
1.702.738.7570
Bhhs Nevada Properties
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2216711
Last Updated: 08/21/2020
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