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2816 Deep Water Circle Las Vegas, NV 89117

5 Beds 3 Baths 2,785 sqft Built 1987

$480,000

List Price

$2,200

$2K - $2.4K

Rent Est.

PROPERTY INFO

November 27, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1987
  • Price/Sqft : $172.35
  • 3 Days on Market
  • MLS # : 2250478
  • Updated Date : 11/27/2020 at 13:30
CONSTRUCTION
  • Beds : 5
  • Floor Size : 2,785 sqft
  • Baths : 2 full , 1 half
Listing Agent

Keller Williams Market Place I

Listing Agent's Description

Gorgeous two-story home available on a quiet cul-de-sac lot in highly sought after The Lakes Community. Room to spread out with nearly 2800 sq ft of living space, 5 spacious bedrooms, and 3.5 bathrooms. Formal living and dining area with soaring vaulted ceilings. Separate family room is enhanced with gorgeous hardwood floors and a charming fireplace. Designed for entertaining, the open concept kitchen features gas cooking, granite counters, stylish white cabinetry, and a sunny bay window dining nook. Double door entry to the upstairs maser retreat complete with a walk in closet and a full ensuite with dual sinks and a separate soaking tub and shower. You will love the outdoor space. Secluded backyard oasis is complete with mature landscaping, a covered patio and a sparkling pool. See it and make it yours.

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 Section Seven

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320k340k360kPrice in $119k377k

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

Neighborhood: The Section Seven

NeighborhoodNIR Market*CityMarket2010Year20002019 Q211001200130014001500160017001800Rent in $10761875

* 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
M.j. Christensen Elementary School Primary Regular 615 34 6
Lawrence Junior High School Middle Regular 1,421 61 NA
Bonanza High School High Regular 2,003 83 3

M.j. Christensen Elementary School

  • Education Level: Primary
  • # of students: 615
  • # of teachers: 34
6
GreatSchools Rating

Lawrence Junior High School

  • Education Level: Middle
  • # of students: 1,421
  • # of teachers: 61
NA
GreatSchools Rating

Bonanza High School

  • Education Level: High
  • # of students: 2,003
  • # of teachers: 83
3
GreatSchools Rating
 

$432,000$528,000$480,000

PURCHASE PRICE

$1,980$2,420$2,200

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,200
EXPENSES Loan Payment -$1,771
Property Tax -$282
Property Insurance -$81
Property Management Fees -$119
CASH FLOW
-$53

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.

$480,000

PROJECTED PRICE

$2,200

PROJECTED RENT

0.46%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.05%
Appreciation Year (1-5) 8.4%
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$1.4M$1.6M

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$200k$400k$600k$800k$1.0M$1.2M$1.4M$1.6M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$132,950

INVESTMENT

$132,950

Down Payment
$120,000
Rehab Estimate
$5,750
Closing Costs
$7,200

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,771

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $120,000
Loan Amount $360,000
See What Happens When You Reinvest Cash Flow

5.5

YEARS SAVED

$33,714

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,200

    LIST RENT
  • $0.79

    LIST RENT PER SQFT
  • $2,165

    COMP ESTIMATED VALUE
  • $0.78

    COMP AVG. RENT PER SQFT
Comps Range
$2,095
1$2,0952$2,2003$2,2004$2,2955$2,300
$2,300
RENT COMPS ANALYSIS
  • 2816 Deep Water Circle Las Vegas, NV 3
    • 5 beds 3 baths ∙ 2,785 Sqft ∙ Built 1987 5 beds 3 baths ∙ 2,785 Sqft ∙ Built 1987
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $0.79
    •  
  • 9449 Navy Blue Court Las Vegas, NV 1
    • 4 beds 2 baths ∙ 2,974 Sqft ∙ Built 1989 4 beds 2 baths ∙ 2,974 Sqft ∙ Built 1989
    LEASED 07/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,095
    • $0.70
    •  
  • 2000 Scenic Sunrise Las Vegas, NV 2
    • 4 beds 2 baths ∙ 2,702 Sqft ∙ Built 1994 4 beds 2 baths ∙ 2,702 Sqft ∙ Built 1994
    LEASED 05/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $0.81
    •  
  • 9428 Salt Water Court Las Vegas, NV 4
    • 4 beds 2 baths ∙ 2,974 Sqft ∙ Built 1989 4 beds 2 baths ∙ 2,974 Sqft ∙ Built 1989
    LEASED 02/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,295
    • $0.77
    •  
  • 2813 Klondike Court Las Vegas, NV 5
    • 5 beds 3 baths ∙ 2,785 Sqft ∙ Built 1988 5 beds 3 baths ∙ 2,785 Sqft ∙ Built 1988
    LEASED 12/18/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $0.83
    •  
PROPERTY LISTING DETAILS
Edward J Orasi
1.702.860.7087
Keller Williams Market Place I
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2250478
Last Updated: 11/27/2020
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