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9856 Gray Sea Eagle Avenue Las Vegas, NV 89117

5 Beds 2 Baths 2,978 sqft Built 1997

INVESTimate

$415,000

List Price

$2,240

$2,016 - $2,464

Rent Est.

$456,127  ( +9.91%)   1 YR EST. FORECAST

PROPERTY INFO

August 21, 2020 RECENTLY ADDED
FACTS
  • Built In 1997
  • Price/Sqft : $139.36
  • 7 Days on Market
  • MLS # : 2223350
  • Updated Date : 08/21/2020 at 15:24
CONSTRUCTION
  • Beds : 5
  • Floor Size : 2,978 sqft
  • Baths : 2 full
Listing Agent

Skylar Realty

Listing Agent's Description

NO HOA community. Located near freeway access, shopping plazas, parks, LVAC gym and restaurants. This two stroy home has just been recently painted, it has a large backyard, 3 car garage, and is spacious inside and out. There is bedroom downstairs with a 3/4 bathroom. The kitchen comes with included appliances, granite counter top, plenty of cabinetry and counter space. Washer and dryer are included with this house and has its own separate room with sink. Upstairs you will find a large loft and 4 bedrooms including the master bedroom. The bedroom are large bedrooms most having a walk in closet. The master bedroom has a fireplace, and the master bathroom includes an oversize closet, double sink and a separate shower and bathtub.

SEE MORE

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: Spring Valley

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280kPrice in $119k296k

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

Neighborhood: Spring Valley

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2105011001150120012501300135014001450150015501600Rent in $10381606

* 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
Keith And Karen Hayes Elementary School Primary Regular 804 40 9
Victoria Fertitta Middle School Middle Regular 1,472 60 NA
Spring Valley High School High Regular 1,925 79 4

Keith And Karen Hayes Elementary School

  • Education Level: Primary
  • # of students: 804
  • # of teachers: 40
9
GreatSchools Rating

Victoria Fertitta Middle School

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

Spring Valley High School

  • Education Level: High
  • # of students: 1,925
  • # of teachers: 79
4
GreatSchools Rating
 

$373,500$456,500$415,000

PURCHASE PRICE

$2,016$2,464$2,240

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$1.8M

PROJECTED ANNUAL CASH FLOW

11530$0.0$5.0k$10k$15k$20k$25k$30k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,240
EXPENSES Loan Payment -$1,531
Property Tax -$260
Property Insurance -$85
Property Management Fees -$119
CASH FLOW
$245

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.

$415,000

PROJECTED PRICE

$2,240

PROJECTED RENT

0.54%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.96%
Appreciation Year (1-5) 9.91%
Maintenance Year (1-5) 8.00%
Vacancy 7.63%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$115,725

INVESTMENT

$115,725

Down Payment
$103,750
Rehab Estimate
$5,750
Closing Costs
$6,225

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 40% down payment or higher enables the proceeds from the asset to cover all costs.

$1,531

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $103,750
Loan Amount $311,250
See What Happens When You Reinvest Cash Flow

9.08

YEARS SAVED

$60,172

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,240

    LIST RENT
  • $0.75

    LIST RENT PER SQFT
  • $2,256

    COMP ESTIMATED VALUE
  • $0.76

    COMP AVG. RENT PER SQFT
Comps Range
$1,950
1$1,9502$2,1303$2,2404$2,4005$2,500
$2,500
RENT COMPS ANALYSIS
  • 9856 Gray Sea Eagle Avenue Las Vegas, NV 3
    • 5 beds 5 baths ∙ 2,978 Sqft ∙ Built 1997 5 beds 5 baths ∙ 2,978 Sqft ∙ Built 1997
    • Rent
    • Rent Per SQFT
    •  
    • $2,240
    • $0.75
    •  
  • 9819 West Cherokee Avenue Las Vegas, NV 1
    • 5 beds 4 baths ∙ 3,064 Sqft ∙ Built 1999 5 beds 4 baths ∙ 3,064 Sqft ∙ Built 1999
    LEASED 03/04/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $0.64
    •  
  • 3828 Erva Street Las Vegas, NV 2
    • 5 beds 4 baths ∙ 3,154 Sqft ∙ Built 1998 5 beds 4 baths ∙ 3,154 Sqft ∙ Built 1998
    LEASED 02/28/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,130
    • $0.68
    •  
  • 9955 Masked Duck Avenue Las Vegas, NV 4
    • 4 beds 4 baths ∙ 2,946 Sqft ∙ Built 1995 4 beds 4 baths ∙ 2,946 Sqft ∙ Built 1995
    LEASED 10/18/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,400
    • $0.81
    •  
  • 10396 Walking View Court Las Vegas, NV 5
    • 4 beds 4 baths ∙ 2,765 Sqft ∙ Built 2001 4 beds 4 baths ∙ 2,765 Sqft ∙ Built 2001
    LEASED 01/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $0.90
    •  
PROPERTY LISTING DETAILS
Huy Nguyen
1.702.630.8015
Skylar Realty
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2223350
Last Updated: 08/21/2020
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