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9816 Folsom Drive Las Vegas, NV 89134

3 Beds 3 Baths 2,819 sqft Built 1998

$750,000

List Price

$2,610

$2.4K - $2.9K

Rent Est.

PROPERTY INFO

November 02, 2020 RECENTLY ADDED
FACTS
  • Built In 1998
  • Price/Sqft : $266.05
  • 3 Days on Market
  • MLS # : 2243941
  • Updated Date : 11/02/2020 at 08:19
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,819 sqft
  • Baths : 2 full , 1 half
Listing Agent

Bhhs Nevada Properties

Listing Agent's Description

Fabulous 3 Bedroom with 2 Master Suites. Mountain and Golf Course views right off of the backyard patio! Spacious open kitchen and family room with tons of cabinet/storage space. Large kitchen island with breakfast bar, spacious Primary and Secondary bedrooms with walk in closets. , Coffered ceiling. True 3 Car Garage, Top of the Line Water softener. Interior utility room with lots of cabinets. Fireplace in Primary Bedroom and Family Room. Home Exterior Freshly Painted. New landscape watering system installed. Driveway, Sidewalks and Rear Patio with Pebble Tech Decor. Soothing Water Fall is serviced twice a year. Fire pit on Patio is included. Most Furniture Available. Prime location!!!

SEE MORE

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: Sun City Summerlin

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320kPrice in $119k328k

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

Neighborhood: Sun City Summerlin

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21100115012001250130013501400145015001550160016501700Rent in $10671706

* 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
William Lummis Elementary School Primary Regular 555 27 7
Ernest Becker Middle School Middle Regular 1,392 56 NA
Palo Verde High School High Regular 3,024 114 9

William Lummis Elementary School

  • Education Level: Primary
  • # of students: 555
  • # of teachers: 27
7
GreatSchools Rating

Ernest Becker Middle School

  • Education Level: Middle
  • # of students: 1,392
  • # of teachers: 56
NA
GreatSchools Rating

Palo Verde High School

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

$675,000$825,000$750,000

PURCHASE PRICE

$2,349$2,871$2,610

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,610
EXPENSES Loan Payment -$2,767
Property Tax -$411
Property Insurance -$82
Property Management Fees -$119
CASH FLOW
-$769

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.

$750,000

PROJECTED PRICE

$2,610

PROJECTED RENT

0.35%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.96%
Appreciation Year (1-5) 9.1%
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$500k$1.0M$1.5M$2.0M$2.5M

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$500k$1.0M$1.5M$2.0M$2.5M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$204,500

INVESTMENT

$204,500

Down Payment
$187,500
Rehab Estimate
$5,750
Closing Costs
$11,250

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 65% down payment or higher enables the proceeds from the asset to cover all costs.

$2,767

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $187,500
Loan Amount $562,500
See What Happens When You Reinvest Cash Flow

1.33

YEARS SAVED

$5,319

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,610

    LIST RENT
  • $0.93

    LIST RENT PER SQFT
  • $2,770

    COMP ESTIMATED VALUE
  • $0.98

    COMP AVG. RENT PER SQFT
Comps Range
$2,200
1$2,2002$2,6103$2,7004$2,8505$3,000
$3,000
RENT COMPS ANALYSIS
  • 9816 Folsom Drive Las Vegas, NV 2
    • 3 beds 3 baths ∙ 2,819 Sqft ∙ Built 1998 3 beds 3 baths ∙ 2,819 Sqft ∙ Built 1998
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,610
    • $0.93
    •  
  • 3020 Hawksdale Drive #0 Las Vegas, NV 1
    • 3 beds 2 baths ∙ 2,486 Sqft ∙ Built 1992 3 beds 2 baths ∙ 2,486 Sqft ∙ Built 1992
    property image
    LEASED 06/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $0.88
    •  
  • 9709 Killymoon Las Vegas, NV 3
    • 4 beds 3 baths ∙ 2,630 Sqft ∙ Built 1997 4 beds 3 baths ∙ 2,630 Sqft ∙ Built 1997
    property image
    LEASED 06/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,700
    • $1.03
    •  
  • 3517 Bogside Way Las Vegas, NV 4
    • 4 beds 3 baths ∙ 2,770 Sqft ∙ Built 1996 4 beds 3 baths ∙ 2,770 Sqft ∙ Built 1996
    property image
    LEASED 09/25/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,850
    • $1.03
    •  
  • 3028 Crib Point Drive Las Vegas, NV 5
    • 3 beds 2 baths ∙ 3,045 Sqft ∙ Built 1998 3 beds 2 baths ∙ 3,045 Sqft ∙ Built 1998
    property image
    LEASED 09/01/19
    • Rent
    • Rent Per SQFT
    •  
    • $3,000
    • $0.99
    •  
PROPERTY LISTING DETAILS
Don L Egbert
1.702.376.1966
Bhhs Nevada Properties
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2243941
Last Updated: 11/02/2020
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