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8 Old Lake Circle Henderson, NV 89074

4 Beds 2 Baths 3,466 sqft Built 1996

$545,000

List Price

$2,800

$2.6K - $3.1K

Rent Est.

PROPERTY INFO

February 05, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1996
  • Price/Sqft : $157.24
  • 4 Days on Market
  • MLS # : 2266331
  • Updated Date : 02/05/2021 at 05:43
CONSTRUCTION
  • Beds : 4
  • Floor Size : 3,466 sqft
  • Baths : 2 full
Listing Agent

Life Realty District

Listing Agent's Description

This stunning two story pool/spa, original owner home will not disappoint. Exterior entry of home with large tile and decorative rock. Large interior entry that overlooks formal living room with fireplace and separate formal dining to include custom draperies. Spacious family room with fireplace and slider to patio area. Kitchen includes built in appliances, large island and nook. Lots of natural light throughout. Upstairs primary bedroom with sitting area, fireplace and bath that includes dual sinks, separate tub/shower. Secondary bedrooms are spacious -upstairs loft could be 5th bedroom (has walk in closet). Downstairs bedroom with 3/4 bath. Pool/spa, lots of patio space, built in BBQ. Three car garage. An additional 10" of non-fiberglass, fire retardant, green fiber blown in insulation added. HVAC air handler units have been upgraded with pure air whole house in duct dual UV UVC germicidal lights. Honeywell in-line electronic air cleaners/pre and post filter medias.

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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: Green Valley South

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340k360kPrice in $123k362k

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

Neighborhood: Green Valley South

NeighborhoodNIR Market*CityMarket2010Year20002019 Q211001200130014001500160017001800Rent in $10801875

* 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
David M. Cox Elementary School Primary Regular 625 32 8
Barbara And Hank Greenspun Middle School Middle Regular 1,397 55 NA
Coronado High School High Regular 3,240 124 10

David M. Cox Elementary School

  • Education Level: Primary
  • # of students: 625
  • # of teachers: 32
8
GreatSchools Rating

Barbara And Hank Greenspun Middle School

  • Education Level: Middle
  • # of students: 1,397
  • # of teachers: 55
NA
GreatSchools Rating

Coronado High School

  • Education Level: High
  • # of students: 3,240
  • # of teachers: 124
10
GreatSchools Rating
 

$490,500$599,500$545,000

PURCHASE PRICE

$2,520$3,080$2,800

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,800
EXPENSES Loan Payment -$1,893
Property Tax -$329
Property Insurance -$94
Property Management Fees -$119
CASH FLOW
$365

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.

$545,000

PROJECTED PRICE

$2,800

PROJECTED RENT

0.51%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.05%
Appreciation Year (1-5) 8.9%
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$0.0$5.0k$10k$15k$20k$25k$30k$35k

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$1.8M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$150,175

INVESTMENT

$150,175

Down Payment
$136,250
Rehab Estimate
$5,750
Closing Costs
$8,175

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 35% down payment or higher enables the proceeds from the asset to cover all costs.

$1,893

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $136,250
Loan Amount $408,750
See What Happens When You Reinvest Cash Flow

9.5

YEARS SAVED

$72,577

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,800

    LIST RENT
  • $0.81

    LIST RENT PER SQFT
  • $2,903

    COMP ESTIMATED VALUE
  • $0.84

    COMP AVG. RENT PER SQFT
Comps Range
$2,700
1$2,7002$2,8003$2,8454$2,9905$3,100
$3,100
RENT COMPS ANALYSIS
  • 8 Old Lake Circle Henderson, NV 2
    • 4 beds 2 baths ∙ 3,466 Sqft ∙ Built 1996 4 beds 2 baths ∙ 3,466 Sqft ∙ Built 1996
    • Rent
    • Rent Per SQFT
    •  
    • $2,800
    • $0.81
    •  
  • 2437 Antler Point Drive Henderson, NV 1
    • 5 beds 1 baths ∙ 3,465 Sqft ∙ Built 1995 5 beds 1 baths ∙ 3,465 Sqft ∙ Built 1995
    LEASED 01/08/21
    • Rent
    • Rent Per SQFT
    •  
    • $2,700
    • $0.78
    •  
  • 2504 Hacker Drive Henderson, NV 3
    • 4 beds 4 baths ∙ 3,331 Sqft ∙ Built 1994 4 beds 4 baths ∙ 3,331 Sqft ∙ Built 1994
    LEASED 03/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,845
    • $0.85
    •  
  • 2423 Legacy Island Circle #0 Henderson, NV 4
    • 4 beds 2 baths ∙ 3,428 Sqft ∙ Built 1996 4 beds 2 baths ∙ 3,428 Sqft ∙ Built 1996
    LEASED 05/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,990
    • $0.87
    •  
  • 2486 Ram Crossing Way Henderson, NV 5
    • 5 beds 1 baths ∙ 3,656 Sqft ∙ Built 1993 5 beds 1 baths ∙ 3,656 Sqft ∙ Built 1993
    LEASED 06/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,100
    • $0.85
    •  
PROPERTY LISTING DETAILS
Patty L Turner
1.702.281.4141
Life Realty District
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2266331
Last Updated: 02/05/2021
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