Work with a dedicated Real Estate Advisor who will take your financial preferences and help you select and acquire properties that fit your criteria. Learn more

8004 Farthings Hill Drive Las Vegas, NV 89166

3 Beds 3 Baths 1,854 sqft Built 2004

$319,900

List Price

$1,690

$1.5K - $1.9K

Rent Est.

PROPERTY INFO

October 28, 2020 RECENTLY ADDED
FACTS
  • Built In 2004
  • Price/Sqft : $172.55
  • 8 Days on Market
  • MLS # : 2241756
  • Updated Date : 10/29/2020 at 11:27
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,854 sqft
  • Baths : 2 full , 1 half
Listing Agent

Wynn Realty Group

Listing Agent's Description

Wonderful 3 bedroom, 2.5 bathroom, plus large, upstairs loft home in gated northwest Centennial Point community! You will fall in love with the huge pool-sized yard and gorgeous views all around! Private corner lot with only one neighbor, and directly across the street you will find the lush green community park! Lovely, clean, and meticulously maintained describes this house - original owners are downsizing. Upon entering you will notice the dramatic vaulted ceilings! Downstairs flooring is easy-care tile, and upstairs has brand new carpet. Every bedroom has a ceiling fan and a walk-in closet! The bathrooms have updated new tile and designer lighting! The master suite has vaulted ceilings, double sinks, a separate tub and shower, and an ample walk-in closet! Plenty of room in the loft can be used as a gym, home office, or virtual learning area! Highly rated schools with a bus stop right outside the gate. New energy-efficient AC, and new water conditioner! Hurry!

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: Centennial Point

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320k340k360kPrice in $119k362k

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

Neighborhood: Centennial Point

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2100011001200130014001500160017001800Rent in $9561875

* 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
James Bilbray Elementary School Primary Regular 763 39 9
Edmundo Eddie Escobedo Sr Middle School Middle Regular 1,171 47 NA
Arbor View High School High Regular 2,878 116 9

James Bilbray Elementary School

  • Education Level: Primary
  • # of students: 763
  • # of teachers: 39
9
GreatSchools Rating

Edmundo Eddie Escobedo Sr Middle School

  • Education Level: Middle
  • # of students: 1,171
  • # of teachers: 47
NA
GreatSchools Rating

Arbor View High School

  • Education Level: High
  • # of students: 2,878
  • # of teachers: 116
9
GreatSchools Rating
 

$287,910$351,890$319,900

PURCHASE PRICE

$1,521$1,859$1,690

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,690
EXPENSES Loan Payment -$1,180
Property Tax -$237
Property Insurance -$63
Property Management Fees -$119
CASH FLOW
$91

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.

$319,900

PROJECTED PRICE

$1,690

PROJECTED RENT

0.53%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.05%
Appreciation Year (1-5) 9.5%
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

PROJECTED ANNUAL CASH FLOW

11530$0.0$5.0k$10k$15k$20k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$90,524

INVESTMENT

$90,524

Down Payment
$79,975
Rehab Estimate
$5,750
Closing Costs
$4,799

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 45% down payment or higher enables the proceeds from the asset to cover all costs.

$1,180

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $79,975
Loan Amount $239,925
See What Happens When You Reinvest Cash Flow

7.5

YEARS SAVED

$35,268

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,690

    LIST RENT
  • $0.91

    LIST RENT PER SQFT
  • $1,683

    COMP ESTIMATED VALUE
  • $0.91

    COMP AVG. RENT PER SQFT
Comps Range
$1,600
1$1,6002$1,6503$1,6904$1,7505$1,760
$1,760
RENT COMPS ANALYSIS
  • 8004 Farthings Hill Drive Las Vegas, NV 3
    • 3 beds 3 baths ∙ 1,854 Sqft ∙ Built 2004 3 beds 3 baths ∙ 1,854 Sqft ∙ Built 2004
    • Rent
    • Rent Per SQFT
    •  
    • $1,690
    • $0.91
    •  
  • 9549 Parker Springs Court Las Vegas, NV 1
    • 3 beds 3 baths ∙ 1,854 Sqft ∙ Built 2004 3 beds 3 baths ∙ 1,854 Sqft ∙ Built 2004
    LEASED 07/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $0.86
    •  
  • 9413 Jewel Lake Avenue Las Vegas, NV 2
    • 3 beds 3 baths ∙ 1,840 Sqft ∙ Built 2003 3 beds 3 baths ∙ 1,840 Sqft ∙ Built 2003
    LEASED 10/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.90
    •  
  • 8064 Tilkuni Drive Las Vegas, NV 4
    • 3 beds 3 baths ∙ 1,854 Sqft ∙ Built 2004 3 beds 3 baths ∙ 1,854 Sqft ∙ Built 2004
    LEASED 08/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.94
    •  
  • 9553 Parker Springs Court Las Vegas, NV 5
    • 3 beds 3 baths ∙ 1,896 Sqft ∙ Built 2004 3 beds 3 baths ∙ 1,896 Sqft ∙ Built 2004
    LEASED 10/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,760
    • $0.93
    •  
PROPERTY LISTING DETAILS
Michelle D Stiles
1.702.250.7224
Wynn Realty Group
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2241756
Last Updated: 10/29/2020
BESbswy