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9949 Cape May Street Las Vegas, NV 89141

3 Beds 2 Baths 1,940 sqft Built 2007

$389,900

List Price

$1,730

$1.6K - $1.9K

Rent Est.

PROPERTY INFO

November 11, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2007
  • Price/Sqft : $200.98
  • 6 Days on Market
  • MLS # : 2247419
  • Updated Date : 11/11/2020 at 19:35
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,940 sqft
  • Baths : 2 full
Listing Agent

Real Estate Property Managemen

Listing Agent's Description

SMART HOME! Lights, surround sound, landscaping lights, alarm, sprinklers are controlled via phone apps from anywhere. Stunning split floor plan for privacy and enjoyment, with unique, custom finishes, modern and yet welcoming. Part of the furniture and decorations through out the home will stay in place. Maintenance free backyard with full size bar, TV, party coolers, lights, fountain, and so much more!

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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)

PRICE & RENT TRENDS

Neighborhood: Highlands Ranch

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320k340k360kPrice in $119k369k

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

Neighborhood: Highlands Ranch

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2110012001300140015001600170018001900Rent in $10761902

* 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
Aldeane Comito Ries Elementary School Primary Regular 975 57 4
Lois And Jerry Tarkanian Middle School Middle Regular 1,739 71 NA
Desert Oasis High School High Regular 2,417 102 5

Aldeane Comito Ries Elementary School

  • Education Level: Primary
  • # of students: 975
  • # of teachers: 57
4
GreatSchools Rating

Lois And Jerry Tarkanian Middle School

  • Education Level: Middle
  • # of students: 1,739
  • # of teachers: 71
NA
GreatSchools Rating

Desert Oasis High School

  • Education Level: High
  • # of students: 2,417
  • # of teachers: 102
5
GreatSchools Rating
 

$350,910$428,890$389,900

PURCHASE PRICE

$1,557$1,903$1,730

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,730
EXPENSES Loan Payment -$1,439
Property Tax -$233
Property Insurance -$65
Property Management Fees -$119
CASH FLOW
-$126

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.

$389,900

PROJECTED PRICE

$1,730

PROJECTED RENT

0.44%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.05%
Appreciation Year (1-5) 6.5%
Maintenance Year (1-5) 8.00%
Vacancy 7.57%
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

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$109,074

INVESTMENT

$109,074

Down Payment
$97,475
Rehab Estimate
$5,750
Closing Costs
$5,849

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 50% down payment or higher enables the proceeds from the asset to cover all costs.

$1,439

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $97,475
Loan Amount $292,425
See What Happens When You Reinvest Cash Flow

4.42

YEARS SAVED

$20,047

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,730

    LIST RENT
  • $0.89

    LIST RENT PER SQFT
  • $1,955

    COMP ESTIMATED VALUE
  • $1.01

    COMP AVG. RENT PER SQFT
Comps Range
$1,695
1$1,6952$1,7303$1,8504$1,8955$2,100
$2,100
RENT COMPS ANALYSIS
  • 9949 Cape May Street Las Vegas, NV 2
    • 3 beds 2 baths ∙ 1,940 Sqft ∙ Built 2007 3 beds 2 baths ∙ 1,940 Sqft ∙ Built 2007
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,730
    • $0.89
    •  
  • 10348 Kepler Cascades Street Las Vegas, NV 1
    • 3 beds 3 baths ∙ 1,796 Sqft ∙ Built 2006 3 beds 3 baths ∙ 1,796 Sqft ∙ Built 2006
    property image
    LEASED 07/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $0.94
    •  
  • 4964 Tunnel Falls Drive Las Vegas, NV 3
    • 3 beds 3 baths ∙ 1,796 Sqft ∙ Built 2009 3 beds 3 baths ∙ 1,796 Sqft ∙ Built 2009
    property image
    LEASED 11/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $1.03
    •  
  • 5289 Ardley Las Vegas, NV 4
    • 4 beds 3 baths ∙ 1,936 Sqft ∙ Built 2018 4 beds 3 baths ∙ 1,936 Sqft ∙ Built 2018
    property image
    LEASED 05/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,895
    • $0.98
    •  
  • 9957 Cape May Las Vegas, NV 5
    • 3 beds 2 baths ∙ 1,940 Sqft ∙ Built 2007 3 beds 2 baths ∙ 1,940 Sqft ∙ Built 2007
    property image
    LEASED 07/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $1.08
    •  
PROPERTY LISTING DETAILS
Mihaela Radulescu
1.702.273.7183
Real Estate Property Managemen
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2247419
Last Updated: 11/11/2020
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