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9847 Starlight Ridge Avenue Las Vegas, NV 89148

3 Beds 3 Baths 2,464 sqft Built 2018

$914,440

List Price

$2,720

$2.5K - $3K

Rent Est.

PROPERTY INFO

December 05, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2018
  • Price/Sqft : $371.12
  • 3 Days on Market
  • MLS # : 2252221
  • Updated Date : 12/04/2020 at 18:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,464 sqft
  • Baths : 2 full , 1 half
Listing Agent

New Door Residential

Listing Agent's Description

Beautiful single story former model home. This home is nestled against a mountain, giving full privacy and breathtaking views. Enter into a large open floor plan with upgrades throughout. Kitchen offers a oversized island with quartz countertops, double oven, and custom backsplash. Great room overlooks gorgeous mountains. Dining area boasts wet bar. Primary bathroom has huge luxury shower. Backyard is fully landscaped. Must see home!

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

Zip Code: 89148

ZipNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320kPrice in $119k339k

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

Zip Code: 89148

ZipNIR Market*CityMarket2010Year20002019 Q21100120013001400150016001700Rent in $10011786

* 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
Shelley Berkley Elementary School Primary Unknown NA
Wilbur And Theresa Faiss Middle School Middle Regular 1,409 61 NA
Sierra Vista High School High Regular 2,396 88 4

Shelley Berkley Elementary School

  • Education Level: Primary
  • # of students:
  • # of teachers:
NA
GreatSchools Rating

Wilbur And Theresa Faiss Middle School

  • Education Level: Middle
  • # of students: 1,409
  • # of teachers: 61
NA
GreatSchools Rating

Sierra Vista High School

  • Education Level: High
  • # of students: 2,396
  • # of teachers: 88
4
GreatSchools Rating
 

$822,996$1,005,884$914,440

PURCHASE PRICE

$2,448$2,992$2,720

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,720
EXPENSES Loan Payment -$3,374
Property Tax -$568
Property Insurance -$75
Property Management Fees -$119
CASH FLOW
-$1,416

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.

$914,440

PROJECTED PRICE

$2,720

PROJECTED RENT

0.30%

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$3.0M

PROJECTED ANNUAL CASH FLOW

11530-$25k-$20k-$15k-$10k-$5.0k$0.0$5.0k$10k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$500k$1.0M$1.5M$2.0M$2.5M$3.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$248,077

INVESTMENT

$248,077

Down Payment
$228,610
Rehab Estimate
$5,750
Closing Costs
$13,717

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 70% down payment or higher enables the proceeds from the asset to cover all costs.

$3,374

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $228,610
Loan Amount $685,830
See What Happens When You Reinvest Cash Flow

0.17

YEARS SAVED

$156

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,720

    LIST RENT
  • $1.1

    LIST RENT PER SQFT
  • $2,002

    COMP ESTIMATED VALUE
  • $0.81

    COMP AVG. RENT PER SQFT
Comps Range
$1,800
1$1,8002$1,8503$1,9504$2,2005$2,720
$2,720
RENT COMPS ANALYSIS
  • 9847 Starlight Ridge Avenue Las Vegas, NV 5
    • 3 beds 3 baths ∙ 2,464 Sqft ∙ Built 2018 3 beds 3 baths ∙ 2,464 Sqft ∙ Built 2018
    • Rent
    • Rent Per SQFT
    •  
    • $2,720
    • $1.10
    •  
  • 9536 Belmont Bay Avenue Las Vegas, NV 1
    • 4 beds 4 baths ∙ 2,346 Sqft ∙ Built 2015 4 beds 4 baths ∙ 2,346 Sqft ∙ Built 2015
    LEASED 08/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $0.77
    •  
  • 6571 Fog Creek Street Las Vegas, NV 2
    • 4 beds 3 baths ∙ 2,282 Sqft ∙ Built 2015 4 beds 3 baths ∙ 2,282 Sqft ∙ Built 2015
    LEASED 12/17/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $0.81
    •  
  • 9780 Waukegan Avenue Las Vegas, NV 3
    • 4 beds 2 baths ∙ 2,415 Sqft ∙ Built 2005 4 beds 2 baths ∙ 2,415 Sqft ∙ Built 2005
    LEASED 10/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $0.81
    •  
  • 7182 Willow Moss Court Las Vegas, NV 4
    • 4 beds 4 baths ∙ 2,573 Sqft ∙ Built 2018 4 beds 4 baths ∙ 2,573 Sqft ∙ Built 2018
    LEASED 01/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $0.86
    •  
PROPERTY LISTING DETAILS
Jeffrey A Galindo
1.702.290.6458
New Door Residential
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2252221
Last Updated: 12/04/2020
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