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9958 Regency Square Avenue Las Vegas, NV 89148

2 Beds 2 Baths 1,793 sqft Built 2021

$623,995

List Price

$1,920

$1.7K - $2.1K

Rent Est.

PROPERTY INFO

Built 2021 NEW CONSTRUCTION
January 27, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2021
  • Price/Sqft : $348.02
  • 7 Days on Market
  • MLS # : 2264085
  • Updated Date : 01/26/2021 at 01:32
CONSTRUCTION
  • Beds : 2
  • Floor Size : 1,793 sqft
  • Baths : 2 full
Listing Agent

Xpand Realty & Property Manage

Listing Agent's Description

The dramatic circular entry foyer of the elegant Stony Ridge welcomes guests in style. The open design showcases a clear view covered patio that can be accessed through a 18' exterior wall of sliding glass doors. Well-appointed kitchen includes upgraded cabinets, countertops and tile flooring. Equipped with stainless steel Kitchen Aid appliance package, center island with counter seating. The generously sized primary suite features a Luxe primary bath and king-size walk-in closet. Other highlights include a secluded secondary bedroom, a charming home office/ den and a tucked-away separate laundry room with cabinets and sink. *STONY RIDGE DECORATED MODEL PHOTOS PICTURED FOR REPRESENTATION PURPOSES ONLY* ESTIMATED COMPLETION DATE 5/1/2021.

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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: Summerlin South

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400kPrice in $119k441k

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

Neighborhood: Summerlin South

ZipNIR Market*CityMarket2010Year20002019 Q211001200130014001500160017001800Rent in $10011875

* 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
 

$561,596$686,395$623,995

PURCHASE PRICE

$1,728$2,112$1,920

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,920
EXPENSES Loan Payment -$2,167
Property Tax -$152
Property Insurance -$62
Property Management Fees -$119
CASH FLOW
-$580

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 11% of earned rent to cover both maintenance and periods of vacancy.

$623,995

PROJECTED PRICE

$1,920

PROJECTED RENT

0.31%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.05%
Appreciation Year (1-5) 9.1%
Maintenance Year (1-5) 3.00%
Vacancy 7.57%
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

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$167,359

INVESTMENT

$167,359

Down Payment
$155,999
Rehab Estimate
$2,000
Closing Costs
$9,360

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 60% down payment or higher enables the proceeds from the asset to cover all costs.

$2,167

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $155,999
Loan Amount $467,996
See What Happens When You Reinvest Cash Flow

1.58

YEARS SAVED

$5,484

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,920

    LIST RENT
  • $1.07

    LIST RENT PER SQFT
  • $1,690

    COMP ESTIMATED VALUE
  • $0.94

    COMP AVG. RENT PER SQFT
Comps Range
$1,500
1$1,5002$1,5003$1,5954$1,6505$1,920
$1,920
RENT COMPS ANALYSIS
  • 9958 Regency Square Avenue Las Vegas, NV 5
    • 2 beds 2 baths ∙ 1,793 Sqft ∙ Built 2021 2 beds 2 baths ∙ 1,793 Sqft ∙ Built 2021
    • Rent
    • Rent Per SQFT
    •  
    • $1,920
    • $1.07
    •  
  • 5943 Buff Bay Street #- Las Vegas, NV 1
    • 2 beds 2 baths ∙ 1,570 Sqft ∙ Built 2003 2 beds 2 baths ∙ 1,570 Sqft ∙ Built 2003
    LEASED 04/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $0.96
    •  
  • 9261 Dames Rocket Place Las Vegas, NV 2
    • 2 beds 3 baths ∙ 1,669 Sqft ∙ Built 2002 2 beds 3 baths ∙ 1,669 Sqft ∙ Built 2002
    LEASED 10/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $0.90
    •  
  • 7108 Hedgemaple Court #7108 Las Vegas, NV 3
    • 2 beds 3 baths ∙ 1,677 Sqft ∙ Built 2002 2 beds 3 baths ∙ 1,677 Sqft ∙ Built 2002
    LEASED 07/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $0.95
    •  
  • 6131 Dutch Fork Street Las Vegas, NV 4
    • 2 beds 2 baths ∙ 1,723 Sqft ∙ Built 2004 2 beds 2 baths ∙ 1,723 Sqft ∙ Built 2004
    LEASED 10/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.96
    •  
PROPERTY LISTING DETAILS
Bridget A Olson
1.702.493.2950
Xpand Realty & Property Manage
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2264085
Last Updated: 01/26/2021
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