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8004 Sky Ridge Road Las Vegas, NV 89128

4 Beds 1 Baths 2,420 sqft Built 1995

$449,900

List Price

$1,970

$1.8K - $2.2K

Rent Est.

PROPERTY INFO

November 19, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1995
  • Price/Sqft : $185.91
  • 4 Days on Market
  • MLS # : 2248546
  • Updated Date : 11/19/2020 at 13:31
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,420 sqft
  • Baths : 1 full
Listing Agent

Synergy Sothebys Int'l Realty

Listing Agent's Description

MAJOR RENOVATION BY INSURANCE CO. HAS MADE THIS HOME A BUYERS DREAM!*EVERYTHING FROM THE DRYWALL IN HAS BEEN REPLACED*NEW INTERIOR, NEW WINDOWS, NEW A/C UNITS, NEW LANDSCAPING*POPULAR WHITE & GRAY TONES THROUGH OUT*WHT.CABINETS,GRANITE COUNTERS IN KITCHEN & BATHS,GLASS TILE BACKSPLASH,S.S. SINK & APPLIANCES*GLASS TILE & STAINLESS STEEL FIREPLACE SURROUNDS WITH FLOATING MANTLE*BRUSHED NICKEL HARDWARE*CEILING FANS THRU-OUT*WOOD LOOK VINYL FLRS*6" BASEBOARDS*SOARING 18' CEILING IN LIV.ROOM*ENOURMOUS MASTER SUITE WITH 3 WAY FIREPLACE AND SITTING ROOM*LAVISH MR BATH, BIG W/I CLOSET*GUEST BED/BATH DOWNSTAIRS*VERY PRIVATE REAR YARD WITH 1 STORY HOMES BEHIND*WELL LANDSCAPED*STUCCO COVERED PATIO*3 CAR GARAGE*SHOWS EXCELLENT IN & OUT!***REFRIG. WASHER & DRYER ARE NOT INCLUDED IN LIST PRICE***

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MARKET HIGHLIGHTS

  • 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)
  • 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)

PRICE & RENT TRENDS

Neighborhood: The Pueblo

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300kPrice in $119k316k

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

Neighborhood: The Pueblo

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2110012001300140015001600170018001900Rent in $10761921

* 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
Richard H Bryan Elementary School Primary Regular 617 32 8
Ernest Becker Middle School Middle Regular 1,392 56 NA
Cimarron Memorial High School High Regular 2,541 102 3

Richard H Bryan Elementary School

  • Education Level: Primary
  • # of students: 617
  • # of teachers: 32
8
GreatSchools Rating

Ernest Becker Middle School

  • Education Level: Middle
  • # of students: 1,392
  • # of teachers: 56
NA
GreatSchools Rating

Cimarron Memorial High School

  • Education Level: High
  • # of students: 2,541
  • # of teachers: 102
3
GreatSchools Rating
 

$404,910$494,890$449,900

PURCHASE PRICE

$1,773$2,167$1,970

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,970
EXPENSES Loan Payment -$1,660
Property Tax -$267
Property Insurance -$74
Property Management Fees -$119
CASH FLOW
-$150

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.

$449,900

PROJECTED PRICE

$1,970

PROJECTED RENT

0.44%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.96%
Appreciation Year (1-5) 8.8%
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$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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$124,974

INVESTMENT

$124,974

Down Payment
$112,475
Rehab Estimate
$5,750
Closing Costs
$6,749

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,660

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $112,475
Loan Amount $337,425
See What Happens When You Reinvest Cash Flow

4.33

YEARS SAVED

$21,854

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,970

    LIST RENT
  • $0.81

    LIST RENT PER SQFT
  • $2,111

    COMP ESTIMATED VALUE
  • $0.87

    COMP AVG. RENT PER SQFT
Comps Range
$1,915
1$1,9152$1,9703$1,9954$2,1505$2,200
$2,200
RENT COMPS ANALYSIS
  • 8004 Sky Ridge Road Las Vegas, NV 2
    • 4 beds 1 baths ∙ 2,420 Sqft ∙ Built 1995 4 beds 1 baths ∙ 2,420 Sqft ∙ Built 1995
    • Rent
    • Rent Per SQFT
    •  
    • $1,970
    • $0.81
    •  
  • 8112 Painted Clay Las Vegas, NV 1
    • 4 beds 2 baths ∙ 2,420 Sqft ∙ Built 1997 4 beds 2 baths ∙ 2,420 Sqft ∙ Built 1997
    LEASED 05/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,915
    • $0.79
    •  
  • 1724 Mexican Poppy Street Las Vegas, NV 3
    • 4 beds 2 baths ∙ 2,406 Sqft ∙ Built 1994 4 beds 2 baths ∙ 2,406 Sqft ∙ Built 1994
    LEASED 09/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,995
    • $0.83
    •  
  • 1725 Mexican Poppy Street Las Vegas, NV 4
    • 4 beds 2 baths ∙ 2,406 Sqft ∙ Built 1994 4 beds 2 baths ∙ 2,406 Sqft ∙ Built 1994
    LEASED 02/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,150
    • $0.89
    •  
  • 1733 Wandering Winds Way Las Vegas, NV 5
    • 4 beds 2 baths ∙ 2,247 Sqft ∙ Built 1994 4 beds 2 baths ∙ 2,247 Sqft ∙ Built 1994
    LEASED 01/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $0.98
    •  
PROPERTY LISTING DETAILS
Thomas L Marsaw
1.702.376.0122
Synergy Sothebys Int'l Realty
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2248546
Last Updated: 11/19/2020
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