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2880 Tenaya Way Las Vegas, NV 89117

3 Beds 3 Baths 3,296 sqft Built 1987

$700,000

List Price

$2,520

$2.3K - $2.8K

Rent Est.

PROPERTY INFO

February 12, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1987
  • Price/Sqft : $212.38
  • 4 Days on Market
  • MLS # : 2269406
  • Updated Date : 02/12/2021 at 02:30
CONSTRUCTION
  • Beds : 3
  • Floor Size : 3,296 sqft
  • Baths : 2 full , 1 half
Listing Agent

Platinum R.e. Professionals

Listing Agent's Description

Gorgeous custom Section 10 home on a half acre cul-de-sac lot with no association! Gourmet kitchen with stainless steel appliances, granite countertops, kitchen island, and custom cabinets. Vaulted entrance, decorative stone fireplace, and master bedroom downstairs. Oversized master, 2 walk in closets, garden tub, walk in shower, and dual vanities. Bonus media room upstairs, large 2nd floor deck, and 3rd floor roof top deck with 360 views of the Las Vegas strip and mountain views of Red Rock. Entertainer's backyard with lush landscaping, pebble tech pool and sunken outdoor BBQ/kitchen area. Long driveway that can accommodate RV parking.

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 Lakes-Country Club

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320k340k360kPrice in $119k368k

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

Neighborhood: The Lakes-Country Club

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21200140016001800200022002400260028003000Rent in $10763020

* 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
R. Guild Gray Elementary School Primary Regular 521 24 5
Lawrence Junior High School Middle Regular 1,421 61 NA
Spring Valley High School High Regular 1,925 79 4

R. Guild Gray Elementary School

  • Education Level: Primary
  • # of students: 521
  • # of teachers: 24
5
GreatSchools Rating

Lawrence Junior High School

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

Spring Valley High School

  • Education Level: High
  • # of students: 1,925
  • # of teachers: 79
4
GreatSchools Rating
 

$630,000$770,000$700,000

PURCHASE PRICE

$2,268$2,772$2,520

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,520
EXPENSES Loan Payment -$2,431
Property Tax -$413
Property Insurance -$91
Property Management Fees -$119
CASH FLOW
-$534

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.

$700,000

PROJECTED PRICE

$2,520

PROJECTED RENT

0.36%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.96%
Appreciation Year (1-5) 9.5%
Maintenance Year (1-5) 8.00%
Vacancy 7.63%
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$20k

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$191,250

INVESTMENT

$191,250

Down Payment
$175,000
Rehab Estimate
$5,750
Closing Costs
$10,500

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,431

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $175,000
Loan Amount $525,000
See What Happens When You Reinvest Cash Flow

2

YEARS SAVED

$8,760

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,520

    LIST RENT
  • $0.76

    LIST RENT PER SQFT
  • $2,678

    COMP ESTIMATED VALUE
  • $0.81

    COMP AVG. RENT PER SQFT
Comps Range
$2,200
1$2,2002$2,3003$2,5204$2,9005$2,950
$2,950
RENT COMPS ANALYSIS
  • 2880 Tenaya Way Las Vegas, NV 3
    • 3 beds 3 baths ∙ 3,296 Sqft ∙ Built 1987 3 beds 3 baths ∙ 3,296 Sqft ∙ Built 1987
    • Rent
    • Rent Per SQFT
    •  
    • $2,520
    • $0.76
    •  
  • 8075 Lapis Harbor Avenue #n/a Las Vegas, NV 1
    • 4 beds 2 baths ∙ 3,260 Sqft ∙ Built 2000 4 beds 2 baths ∙ 3,260 Sqft ∙ Built 2000
    LEASED 03/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $0.67
    •  
  • 6880 Edna Avenue Las Vegas, NV 2
    • 4 beds 2 baths ∙ 3,107 Sqft ∙ Built 1974 4 beds 2 baths ∙ 3,107 Sqft ∙ Built 1974
    LEASED 11/15/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $0.74
    •  
  • 3175 South Torrey Pines Drive Las Vegas, NV 4
    • 4 beds 3 baths ∙ 3,041 Sqft ∙ Built 1977 4 beds 3 baths ∙ 3,041 Sqft ∙ Built 1977
    LEASED 03/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,900
    • $0.95
    •  
  • 7755 Coley Avenue Las Vegas, NV 5
    • 4 beds 3 baths ∙ 3,305 Sqft ∙ Built 1988 4 beds 3 baths ∙ 3,305 Sqft ∙ Built 1988
    LEASED 02/11/21
    • Rent
    • Rent Per SQFT
    •  
    • $2,950
    • $0.89
    •  
PROPERTY LISTING DETAILS
Sasha Terry
1.702.306.0776
Platinum R.e. Professionals
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2269406
Last Updated: 02/12/2021
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