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9896 February Falls Street Las Vegas, NV 89183

4 Beds 3 Baths 2,523 sqft Built 2001

$419,000

List Price

$1,750

$1.6K - $1.9K

Rent Est.

PROPERTY INFO

November 19, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2001
  • Price/Sqft : $166.07
  • 4 Days on Market
  • MLS # : 2249558
  • Updated Date : 11/19/2020 at 21:14
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,523 sqft
  • Baths : 2 full , 1 half
Listing Agent

Rooftop Realty

Listing Agent's Description

Beautiful freshly remodeled home! Located in desirable Silverado Ranch! This gorgeous home has vaulted ceilings, an open layout concept, modern color scheme, and a wonderful curb appeal! Backyard is spacious, and the home shows pride of ownership throughout! Upgrades throughout such as: granite countertops, modern flooring, and fresh new bathrooms! This home shows extremely well, and is stunning!

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MARKET HIGHLIGHTS

  • 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)
  • 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)

PRICE & RENT TRENDS

Neighborhood: Silverado Ranch

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300kPrice in $119k305k

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

Neighborhood: Silverado Ranch

NeighborhoodNIR Market*CityMarket2010Year20002019 Q211001150120012501300135014001450150015501600Rent in $10761606

* 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
John R. Hummel Elementary School Primary Regular 776 40 7
Charles Silvestri Junior High School Middle Regular 1,748 68 NA
Liberty High School High Regular 2,496 105 5

John R. Hummel Elementary School

  • Education Level: Primary
  • # of students: 776
  • # of teachers: 40
7
GreatSchools Rating

Charles Silvestri Junior High School

  • Education Level: Middle
  • # of students: 1,748
  • # of teachers: 68
NA
GreatSchools Rating

Liberty High School

  • Education Level: High
  • # of students: 2,496
  • # of teachers: 105
5
GreatSchools Rating
 

$377,100$460,900$419,000

PURCHASE PRICE

$1,575$1,925$1,750

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,750
EXPENSES Loan Payment -$1,546
Property Tax -$244
Property Insurance -$76
Property Management Fees -$119
CASH FLOW
-$234

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.

$419,000

PROJECTED PRICE

$1,750

PROJECTED RENT

0.42%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.96%
Appreciation Year (1-5) 10.2%
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

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$116,785

INVESTMENT

$116,785

Down Payment
$104,750
Rehab Estimate
$5,750
Closing Costs
$6,285

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,546

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $104,750
Loan Amount $314,250
See What Happens When You Reinvest Cash Flow

3.25

YEARS SAVED

$13,174

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,750

    LIST RENT
  • $0.69

    LIST RENT PER SQFT
  • $1,861

    COMP ESTIMATED VALUE
  • $0.74

    COMP AVG. RENT PER SQFT
Comps Range
$1,650
1$1,6502$1,7503$1,9354$2,0005$2,150
$2,150
RENT COMPS ANALYSIS
  • 9896 February Falls Street Las Vegas, NV 2
    • 4 beds 3 baths ∙ 2,523 Sqft ∙ Built 2001 4 beds 3 baths ∙ 2,523 Sqft ∙ Built 2001
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.69
    •  
  • 10016 Mystic Dance Street Las Vegas, NV 1
    • 4 beds 3 baths ∙ 2,523 Sqft ∙ Built 1999 4 beds 3 baths ∙ 2,523 Sqft ∙ Built 1999
    LEASED 12/06/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.65
    •  
  • 9627 Vital Crest Street Las Vegas, NV 3
    • 4 beds 2 baths ∙ 2,708 Sqft ∙ Built 2013 4 beds 2 baths ∙ 2,708 Sqft ∙ Built 2013
    LEASED 02/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,935
    • $0.71
    •  
  • 9308 Vital Crest Street Las Vegas, NV 4
    • 4 beds 3 baths ∙ 2,720 Sqft ∙ Built 2006 4 beds 3 baths ∙ 2,720 Sqft ∙ Built 2006
    LEASED 05/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $0.74
    •  
  • 352 Moon Aura Avenue Las Vegas, NV 5
    • 4 beds 3 baths ∙ 2,528 Sqft ∙ Built 2015 4 beds 3 baths ∙ 2,528 Sqft ∙ Built 2015
    LEASED 12/31/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,150
    • $0.85
    •  
PROPERTY LISTING DETAILS
Steven Hilyard
1.702.503.6605
Rooftop Realty
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2249558
Last Updated: 11/19/2020
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