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2008 Arbor Forest Street Las Vegas, NV 89134

5 Beds 3 Baths 3,407 sqft Built 1997

$649,900

List Price

$3,080

$2.8K - $3.3K

Rent Est.

PROPERTY INFO

FACTS
  • Built In 1997
  • Price/Sqft : $190.75
  • 9 Days on Market
  • MLS # : 2241896
  • Updated Date : 10/30/2020 at 06:26
CONSTRUCTION
  • Beds : 5
  • Floor Size : 3,407 sqft
  • Baths : 3 full
Listing Agent

Keller Williams Realty Las Vegas

Listing Agent's Description

Absolutely stunning home in the heart of Summerlin. Large vaulted ceilings, natural stone tile, wide open kitchen and floor plan and an outdoor kitchen with a pebble tec pool to top it off! Working from home? This home has a huge office and ton of loft space! The community is well kept, with quit neighbors and lush mature land scape. This beauty is close to everything you could ever want! Downtown Summerlin, shopping, freeway access, 3 golf courses and lots of great food is just a 5-10 min drive away. We would love for you to call this place home! Please be advised, all showings must wear face masks, wear shoe covering or remove shoes and sanitize hands. We have provided all of this for you at the front door if need. We also ask that you refrain from touching light switches and doors as the seller has left everyting open and on for you.

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: The Trails

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320k340k360k380k400kPrice in $119k408k

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

Neighborhood: The Trails

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2110012001300140015001600170018001900Rent in $10761992

* 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
 

$584,910$714,890$649,900

PURCHASE PRICE

$2,772$3,388$3,080

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,080
EXPENSES Loan Payment -$2,398
Property Tax -$489
Property Insurance -$93
Property Management Fees -$119
CASH FLOW
-$19

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.

$649,900

PROJECTED PRICE

$3,080

PROJECTED RENT

0.47%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.05%
Appreciation Year (1-5) 7.6%
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$30k$35k

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$177,974

INVESTMENT

$177,974

Down Payment
$162,475
Rehab Estimate
$5,750
Closing Costs
$9,749

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,398

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $162,475
Loan Amount $487,425
See What Happens When You Reinvest Cash Flow

5.67

YEARS SAVED

$49,511

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,080

    LIST RENT
  • $0.9

    LIST RENT PER SQFT
  • $2,726

    COMP ESTIMATED VALUE
  • $0.8

    COMP AVG. RENT PER SQFT
Comps Range
$2,450
1$2,4502$2,5003$2,7604$2,8005$3,080
$3,080
RENT COMPS ANALYSIS
  • 2008 Arbor Forest Street Las Vegas, NV 5
    • 5 beds 3 baths ∙ 3,407 Sqft ∙ Built 1997 5 beds 3 baths ∙ 3,407 Sqft ∙ Built 1997
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $3,080
    • $0.90
    •  
  • 9337 Jadecrest Drive Las Vegas, NV 1
    • 4 beds 4 baths ∙ 3,216 Sqft ∙ Built 1994 4 beds 4 baths ∙ 3,216 Sqft ∙ Built 1994
    property image
    LEASED 09/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,450
    • $0.76
    •  
  • 2008 Faywood Street Las Vegas, NV 2
    • 5 beds 3 baths ∙ 3,260 Sqft ∙ Built 1996 5 beds 3 baths ∙ 3,260 Sqft ∙ Built 1996
    property image
    LEASED 06/25/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $0.77
    •  
  • 2217 Timber Rose Drive Las Vegas, NV 3
    • 4 beds 4 baths ∙ 3,231 Sqft ∙ Built 2000 4 beds 4 baths ∙ 3,231 Sqft ∙ Built 2000
    property image
    LEASED 01/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,760
    • $0.85
    •  
  • 2021 Oak River Street Las Vegas, NV 4
    • 4 beds 2 baths ∙ 3,407 Sqft ∙ Built 1996 4 beds 2 baths ∙ 3,407 Sqft ∙ Built 1996
    property image
    LEASED 05/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,800
    • $0.82
    •  
PROPERTY LISTING DETAILS
Nathan Elser
1.775.303.6614
Keller Williams Realty Las Vegas
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2241896
Last Updated: 10/30/2020
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