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8036 Earl Grey Court Las Vegas, NV 89117

4 Beds 3 Baths 2,348 sqft Built 1999

$460,000

List Price

$1,660

$1.5K - $1.8K

Rent Est.

PROPERTY INFO

February 04, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1999
  • Price/Sqft : $195.91
  • 5 Days on Market
  • MLS # : 2266388
  • Updated Date : 02/06/2021 at 03:39
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,348 sqft
  • Baths : 2 full , 1 half
Listing Agent

Realty One Group, Inc

Listing Agent's Description

2 Story, 4 Bedroom, 2 1/2 bath, Covered Patio, 3 Car Garage Located in desirable Southwest MONACO. Home features High Ceilings, Fireplace. Near Desert Breeze Park.

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: Monaco

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320k340k360k380kPrice in $119k389k

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

Neighborhood: Monaco

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2110011501200125013001350140014501500155016001650Rent in $10761682

* 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
Herbert A. Derfelt Elementary School Primary Regular 699 34 6
Lawrence Junior High School Middle Regular 1,421 61 NA
Spring Valley High School High Regular 1,925 79 4

Herbert A. Derfelt Elementary School

  • Education Level: Primary
  • # of students: 699
  • # of teachers: 34
6
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
 

$414,000$506,000$460,000

PURCHASE PRICE

$1,494$1,826$1,660

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,660
EXPENSES Loan Payment -$1,598
Property Tax -$234
Property Insurance -$73
Property Management Fees -$119
CASH FLOW
-$363

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.

$460,000

PROJECTED PRICE

$1,660

PROJECTED RENT

0.36%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.96%
Appreciation Year (1-5) 6.1%
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

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$1.2M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$127,650

INVESTMENT

$127,650

Down Payment
$115,000
Rehab Estimate
$5,750
Closing Costs
$6,900

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,598

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $115,000
Loan Amount $345,000
See What Happens When You Reinvest Cash Flow

2

YEARS SAVED

$5,719

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,660

    LIST RENT
  • $0.71

    LIST RENT PER SQFT
  • $1,796

    COMP ESTIMATED VALUE
  • $0.77

    COMP AVG. RENT PER SQFT
Comps Range
$1,595
1$1,5952$1,6503$1,6604$1,8605$2,250
$2,250
RENT COMPS ANALYSIS
  • 8036 Earl Grey Court Las Vegas, NV 3
    • 4 beds 3 baths ∙ 2,348 Sqft ∙ Built 1999 4 beds 3 baths ∙ 2,348 Sqft ∙ Built 1999
    • Rent
    • Rent Per SQFT
    •  
    • $1,660
    • $0.71
    •  
  • 8221 Shell Beach Court #0 Las Vegas, NV 1
    • 4 beds 3 baths ∙ 2,337 Sqft ∙ Built 2000 4 beds 3 baths ∙ 2,337 Sqft ∙ Built 2000
    LEASED 04/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $0.68
    •  
  • 8047 Earl Grey Court #n/a Las Vegas, NV 2
    • 4 beds 3 baths ∙ 2,348 Sqft ∙ Built 1999 4 beds 3 baths ∙ 2,348 Sqft ∙ Built 1999
    LEASED 04/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.70
    •  
  • 3096 Maple Valley Street Las Vegas, NV 4
    • 4 beds 3 baths ∙ 2,348 Sqft ∙ Built 2000 4 beds 3 baths ∙ 2,348 Sqft ∙ Built 2000
    LEASED 09/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,860
    • $0.79
    •  
  • 8123 Alpine Fir Avenue Las Vegas, NV 5
    • 3 beds 3 baths ∙ 2,516 Sqft ∙ Built 2000 3 beds 3 baths ∙ 2,516 Sqft ∙ Built 2000
    LEASED 09/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,250
    • $0.89
    •  
PROPERTY LISTING DETAILS
Konrad W Sychowicz
1.702.807.3773
Realty One Group, Inc
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2266388
Last Updated: 02/06/2021
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