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8024 Bronzewood Avenue Las Vegas, NV 89149

4 Beds 2 Baths 1,796 sqft Built 1994

INVESTimate

$385,000

List Price

$1,650

$1,485 - $1,815

Rent Est.

$410,064  ( +6.51%)   1 YR EST. FORECAST

PROPERTY INFO

August 26, 2020 RECENTLY ADDED
FACTS
  • Built In 1994
  • Price/Sqft : $214.37
  • 2 Days on Market
  • MLS # : 2224214
  • Updated Date : 08/25/2020 at 19:30
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,796 sqft
  • Baths : 2 full
Listing Agent

Wynn Realty Group

Listing Agent's Description

Tastefully decorated 4 bedroom, 2 bathroom, single story home in CANYON CREEK all-single-story community with NO HOA! Beautiful curb appeal with xeriscape desert low-maintenance front yard! Open floor plan with vaulted ceilings throughout! Gorgeous durable epoxy coated concrete floors in gray stain! Modern new baseboards and fresh neutral paint all around! Beautifully updated kitchen has Quartz countertops, stainless steel appliances, and walnut butcher block island breakfast bar! Designer ceiling fans, light fixtures, and plumbing fixtures throughout! Oil-rubbed bronze door handles! Attractive architectural niches throughout home make it very unique! Out back you will find large covered patio spanning nearly entire length of home! Neat and tidy yard has retaining wall with planter area, pavers, firepit, and lush green grass! This one has it all! Won't last long!

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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: Painted Desert

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320k340k360kPrice in $119k362k

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

Neighborhood: Painted Desert

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2110012001300140015001600170018001900Rent in $10761989

* 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
Dean Lamar Allen Elementary School Primary Regular 660 32 6
Justice M E Leavitt Middle School Middle Regular 1,496 64 NA
Centennial High School High Regular 3,055 124 6

Dean Lamar Allen Elementary School

  • Education Level: Primary
  • # of students: 660
  • # of teachers: 32
6
GreatSchools Rating

Justice M E Leavitt Middle School

  • Education Level: Middle
  • # of students: 1,496
  • # of teachers: 64
NA
GreatSchools Rating

Centennial High School

  • Education Level: High
  • # of students: 3,055
  • # of teachers: 124
6
GreatSchools Rating
 

$346,500$423,500$385,000

PURCHASE PRICE

$1,485$1,815$1,650

RENT

DOWN PAYMENT
FINANCING

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-$5.0k$0.0$5.0k$10k$15k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,650
EXPENSES Loan Payment -$1,420
Property Tax -$231
Property Insurance -$62
Property Management Fees -$119
CASH FLOW
-$182

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.

$385,000

PROJECTED PRICE

$1,650

PROJECTED RENT

0.43%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.05%
Appreciation Year (1-5) 6.51%
Maintenance Year (1-5) 8.00%
Vacancy 7.57%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$107,775

INVESTMENT

$107,775

Down Payment
$96,250
Rehab Estimate
$5,750
Closing Costs
$5,775

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$1,420

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $96,250
Loan Amount $288,750
See What Happens When You Reinvest Cash Flow

3.67

YEARS SAVED

$15,112

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,650

    LIST RENT
  • $0.92

    LIST RENT PER SQFT
  • $1,621

    COMP ESTIMATED VALUE
  • $0.9

    COMP AVG. RENT PER SQFT
Comps Range
$1,545
1$1,5452$1,5953$1,6004$1,6005$1,650
$1,650
RENT COMPS ANALYSIS
  • 8024 Bronzewood Avenue Las Vegas, NV 5
    • 4 beds 2 baths ∙ 1,796 Sqft ∙ Built 1994 4 beds 2 baths ∙ 1,796 Sqft ∙ Built 1994
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.92
    •  
  • 5729 Berwick Falls Lane #0 Las Vegas, NV 1
    • 3 beds 3 baths ∙ 1,644 Sqft ∙ Built 1993 3 beds 3 baths ∙ 1,644 Sqft ∙ Built 1993
    LEASED 05/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,545
    • $0.94
    •  
  • 5468 Royal Vista Lane #0 Las Vegas, NV 2
    • 3 beds 2 baths ∙ 1,741 Sqft ∙ Built 1993 3 beds 2 baths ∙ 1,741 Sqft ∙ Built 1993
    LEASED 12/22/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $0.92
    •  
  • 7758 Vista Sunrise Drive #n/a Las Vegas, NV 3
    • 3 beds 2 baths ∙ 1,742 Sqft ∙ Built 1991 3 beds 2 baths ∙ 1,742 Sqft ∙ Built 1991
    LEASED 06/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $0.92
    •  
  • 7912 Painted Rock Lane Las Vegas, NV 4
    • 3 beds 3 baths ∙ 1,937 Sqft ∙ Built 1991 3 beds 3 baths ∙ 1,937 Sqft ∙ Built 1991
    LEASED 05/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $0.83
    •  
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 #: 2224214
Last Updated: 08/25/2020
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