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10866 Willow Heights Drive Las Vegas, NV 89135

5 Beds 5 Baths 4,342 sqft Built 2003

$1,685,000

List Price

$6,400

$6.2K - $6.7K

Rent Est.

PROPERTY INFO

February 05, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2003
  • Price/Sqft : $388.07
  • 3 Days on Market
  • MLS # : 2264913
  • Updated Date : 02/05/2021 at 22:00
CONSTRUCTION
  • Beds : 5
  • Floor Size : 4,342 sqft
  • Baths : 4 full , 1 half
Listing Agent

Bhhs Nevada Properties

Listing Agent's Description

Located in the prestigious community of Willow Falls, a secluded gated community within guard Gated Willow Creek. Walking distance to DTS and in close proximity to schools, parks, fine dining, the 215 and McCarran Airport! This home has 5 beds and 5 baths, and a casita. Upon entry you are greeted by a traditional formal living room with elegant fireplace & equally elegant formal dining room. Chef’s kitchen with top-of-the-line appliances, walk-in-pantry, custom cabinetry & large center island. The master suite boasts custom walk-in closet, a generous master bath complete with his & her vanities and walk in shower. Perfect for family or entertaining with multiple gathering areas.

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: The Willows

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320k340k360k380kPrice in $119k395k

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

Neighborhood: The Willows

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21100120013001400150016001700180019002000Rent in $10762007

* 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
D'voree And Hall Ober Elementary School Primary Regular 669 39 8
Victoria Fertitta Middle School Middle Regular 1,472 60 NA
Palo Verde High School High Regular 3,024 114 9

D'voree And Hall Ober Elementary School

  • Education Level: Primary
  • # of students: 669
  • # of teachers: 39
8
GreatSchools Rating

Victoria Fertitta Middle School

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

Palo Verde High School

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

$1,516,500$1,853,500$1,685,000

PURCHASE PRICE

$5,760$7,040$6,400

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $6,400
EXPENSES Loan Payment -$5,853
Property Tax -$1,056
Property Insurance -$111
Property Management Fees -$119
CASH FLOW
-$739

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.

$1,685,000

PROJECTED PRICE

$6,400

PROJECTED RENT

0.38%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.05%
Appreciation Year (1-5) 8.8%
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$1.0M$2.0M$3.0M$4.0M$5.0M

PROJECTED ANNUAL CASH FLOW

11530-$20k-$10k$0.0$10k$20k$30k$40k$50k$60k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$1.0M$2.0M$3.0M$4.0M$5.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$452,275

INVESTMENT

$452,275

Down Payment
$421,250
Rehab Estimate
$5,750
Closing Costs
$25,275

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$5,853

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $421,250
Loan Amount $1,263,750
See What Happens When You Reinvest Cash Flow

3.5

YEARS SAVED

$51,966

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $6,400

    LIST RENT
  • $1.47

    LIST RENT PER SQFT
  • $4,765

    COMP ESTIMATED VALUE
  • $1.1

    COMP AVG. RENT PER SQFT
Comps Range
$4,550
1$4,5502$4,5953$4,7004$4,9955$6,400
$6,400
RENT COMPS ANALYSIS
  • 10866 Willow Heights Drive Las Vegas, NV 5
    • 5 beds 5 baths ∙ 4,342 Sqft ∙ Built 2003 5 beds 5 baths ∙ 4,342 Sqft ∙ Built 2003
    • Rent
    • Rent Per SQFT
    •  
    • $6,400
    • $1.47
    •  
  • 3143 Elk Clover Street Las Vegas, NV 1
    • 6 beds 6 baths ∙ 4,287 Sqft ∙ Built 2002 6 beds 6 baths ∙ 4,287 Sqft ∙ Built 2002
    LEASED 01/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $4,550
    • $1.06
    •  
  • 3092 Hammerwood Drive Las Vegas, NV 2
    • 4 beds 5 baths ∙ 4,308 Sqft ∙ Built 2001 4 beds 5 baths ∙ 4,308 Sqft ∙ Built 2001
    LEASED 12/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $4,595
    • $1.07
    •  
  • 10761 Capesthorne Way #0 Las Vegas, NV 3
    • 5 beds 5 baths ∙ 4,016 Sqft ∙ Built 2003 5 beds 5 baths ∙ 4,016 Sqft ∙ Built 2003
    LEASED 01/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $4,700
    • $1.17
    •  
  • 2125 Alcova Ridge Drive Las Vegas, NV 4
    • 4 beds 6 baths ∙ 4,577 Sqft ∙ Built 2006 4 beds 6 baths ∙ 4,577 Sqft ∙ Built 2006
    LEASED 08/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $4,995
    • $1.09
    •  
PROPERTY LISTING DETAILS
Ivan G Sher
1.702.315.0223
Bhhs Nevada Properties
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2264913
Last Updated: 02/05/2021
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