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1008 Bower Basin Street Las Vegas, NV 89144

4 Beds 3 Baths 2,425 sqft Built 2000

$599,900

List Price

$2,480

$2.2K - $2.7K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 19, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2000
  • Price/Sqft : $247.38
  • 5 Days on Market
  • MLS # : 2279573
  • Updated Date : 03/20/2021 at 23:06
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,425 sqft
  • Baths : 2 full , 1 half
Listing Agent

Silver Dome Realty

Listing Agent's Description

Gorgeous single story 2425 square foot 4 bedroom 2 & 1/2 bath 2 car garage home with a pool in Summerlin. Formal living room has vaulted ceiling, pot shelf, & spacious foyer. Separate family room with vaulted ceiling, ceiling fan, & pot shelf. Kitchen is open to the family room & has eating bar, breakfast nook, vaulted ceiling, ceiling fan, solid surface counter tops, pantry, & tile floor. All traffic areas have tile flooring & carpet in the living areas. Primary bedroom (18'x14') with vaulted ceiling, bay windows, walk in closet, ceiling fan & is separate from all the other bedrooms. Primary bathroom has vaulted ceiling, separate double sinks, make up vanity, garden bathtub, stall shower with seat, linen closet, & pot shelf. 3rd bedroom is 20'x12' with 2 closets. 4th bedroom has vaulted ceiling, tile floor, & pot shelf. 9' ceilings in rooms that don't have vaulted ceilings. Laundry room has built in cabinets & washer & dryer are included. Back yard has pool & covered 17'x9' patio.

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

Neighborhood: Dell Cliffs Court

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450kPrice in $119k485k

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

Neighborhood: Dell Cliffs Court

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2110012001300140015001600170018001900200021002200Rent in $10762245

* 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
Ethel W. Staton Elementary School Primary Regular 880 45 9
Sig Rogich Middle School Middle Regular 1,845 70 NA
Palo Verde High School High Regular 3,024 114 9

Ethel W. Staton Elementary School

  • Education Level: Primary
  • # of students: 880
  • # of teachers: 45
9
GreatSchools Rating

Sig Rogich Middle School

  • Education Level: Middle
  • # of students: 1,845
  • # of teachers: 70
NA
GreatSchools Rating

Palo Verde High School

  • Education Level: High
  • # of students: 3,024
  • # of teachers: 114
9
GreatSchools Rating
 

$539,910$659,890$599,900

PURCHASE PRICE

$2,232$2,728$2,480

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,480
EXPENSES Loan Payment -$2,084
Property Tax -$361
Property Insurance -$74
Property Management Fees -$119
CASH FLOW
-$157

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.

$599,900

PROJECTED PRICE

$2,480

PROJECTED RENT

0.41%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.05%
Appreciation Year (1-5) 8.5%
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$500k$1.0M$1.5M$2.0M

PROJECTED ANNUAL CASH FLOW

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

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$164,724

INVESTMENT

$164,724

Down Payment
$149,975
Rehab Estimate
$5,750
Closing Costs
$8,999

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,084

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $149,975
Loan Amount $449,925
See What Happens When You Reinvest Cash Flow

4.5

YEARS SAVED

$26,674

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,480

    LIST RENT
  • $1.02

    LIST RENT PER SQFT
  • $2,461

    COMP ESTIMATED VALUE
  • $1.02

    COMP AVG. RENT PER SQFT
Comps Range
$2,250
1$2,2502$2,3003$2,4804$2,5005$2,600
$2,600
RENT COMPS ANALYSIS
  • 1008 Bower Basin Street Las Vegas, NV 3
    • 4 beds 3 baths ∙ 2,425 Sqft ∙ Built 2000 4 beds 3 baths ∙ 2,425 Sqft ∙ Built 2000
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,480
    • $1.02
    •  
  • 11165 Shadow Nook Court Las Vegas, NV 1
    • 4 beds 3 baths ∙ 2,320 Sqft ∙ Built 1999 4 beds 3 baths ∙ 2,320 Sqft ∙ Built 1999
    property image
    LEASED 05/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,250
    • $0.97
    •  
  • 820 Royal Plum Lane #non Las Vegas, NV 2
    • 3 beds 3 baths ∙ 2,280 Sqft ∙ Built 1999 3 beds 3 baths ∙ 2,280 Sqft ∙ Built 1999
    property image
    LEASED 03/18/21
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $1.01
    •  
  • 10729 Cedar Forest Avenue Las Vegas, NV 4
    • 3 beds 2 baths ∙ 2,414 Sqft ∙ Built 1999 3 beds 2 baths ∙ 2,414 Sqft ∙ Built 1999
    property image
    LEASED 02/01/21
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $1.04
    •  
  • 11228 Bedford Hills Avenue Las Vegas, NV 5
    • 4 beds 3 baths ∙ 2,503 Sqft ∙ Built 2004 4 beds 3 baths ∙ 2,503 Sqft ∙ Built 2004
    property image
    LEASED 08/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,600
    • $1.04
    •  
PROPERTY LISTING DETAILS
Shari A Springer
1.702.521.9901
Silver Dome Realty
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2279573
Last Updated: 03/20/2021
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