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8037 Eurorail Street Las Vegas, NV 89131

3 Beds 2 Baths 1,304 sqft Built 2006

INVESTimate

$264,990

List Price

$1,270

$1,143 - $1,397

Rent Est.

$288,150  ( +8.74%)   1 YR EST. FORECAST

PROPERTY INFO

August 26, 2020 RECENTLY ADDED
FACTS
  • Built In 2006
  • Price/Sqft : $203.21
  • 2 Days on Market
  • MLS # : 2224858
  • Updated Date : 08/25/2020 at 16:13
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,304 sqft
  • Baths : 2 full
Listing Agent

Era Brokers Consolidated

Listing Agent's Description

Single story stunner in the coveted North West. This wonderful home sits inside a gated community on a corner lot. This lot is one of the largest in the community. Step inside to find granite in the kitchen with stainless steel appliances. Fridge is included! Fresh interior paint and new carpet throughout! 100% move in ready. The home feels huge with vaulted ceilings in the main living spaces and master bed room. You will not find a nicer single story with all these upgrades and in a gated community in all of Vegas at this price. Schedule your appointment today!!

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: Tule Springs

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320k340k360k380kPrice in $119k391k

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

Neighborhood: Tule Springs

NeighborhoodNIR Market*CityMarket2010Year20002019 Q211001200130014001500160017001800Rent in $10761890

* 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
Ralph Cadwallader Middle School Middle Regular 1,480 63 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

Ralph Cadwallader Middle School

  • Education Level: Middle
  • # of students: 1,480
  • # of teachers: 63
NA
GreatSchools Rating

Arbor View High School

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

$238,491$291,489$264,990

PURCHASE PRICE

$1,143$1,397$1,270

RENT

DOWN PAYMENT
FINANCING

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$200k$400k$600k$800k

PROJECTED ANNUAL CASH FLOW

11530-$4.0k-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k$700k$800k$900k

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,270
EXPENSES Loan Payment -$978
Property Tax -$213
Property Insurance -$52
HOA -$62
Property Management Fees -$119
CASH FLOW
-$154

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.

$264,990

PROJECTED PRICE

$1,270

PROJECTED RENT

0.48%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.05%
Appreciation Year (1-5) 8.74%
Maintenance Year (1-5) 8.00%
Vacancy 7.57%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$75,972

INVESTMENT

$75,972

Down Payment
$66,248
Rehab Estimate
$5,750
Closing Costs
$3,975

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$978

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $66,248
Loan Amount $198,743
See What Happens When You Reinvest Cash Flow

3.08

YEARS SAVED

$7,487

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,270

    LIST RENT
  • $0.97

    LIST RENT PER SQFT
  • $1,278

    COMP ESTIMATED VALUE
  • $0.98

    COMP AVG. RENT PER SQFT
Comps Range
$1,270
1$1,2702$1,3503$1,3504$1,3955$1,395
$1,395
RENT COMPS ANALYSIS
  • 8037 Eurorail Street Las Vegas, NV 1
    • 3 beds 2 baths ∙ 1,304 Sqft ∙ Built 2006 3 beds 2 baths ∙ 1,304 Sqft ∙ Built 2006
    • Rent
    • Rent Per SQFT
    •  
    • $1,270
    • $0.97
    •  
  • 8748 Water Bucket Avenue Las Vegas, NV 2
    • 3 beds 3 baths ∙ 1,406 Sqft ∙ Built 2004 3 beds 3 baths ∙ 1,406 Sqft ∙ Built 2004
    LEASED 03/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,350
    • $0.96
    •  
  • 8012 Quilted Bear Street Las Vegas, NV 3
    • 3 beds 3 baths ∙ 1,406 Sqft ∙ Built 2004 3 beds 3 baths ∙ 1,406 Sqft ∙ Built 2004
    LEASED 08/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,350
    • $0.96
    •  
  • 8725 Pitch Fork Avenue #0 Las Vegas, NV 4
    • 3 beds 3 baths ∙ 1,406 Sqft ∙ Built 2004 3 beds 3 baths ∙ 1,406 Sqft ∙ Built 2004
    LEASED 05/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,395
    • $0.99
    •  
  • 8516 Gracious Pine Avenue #0 Las Vegas, NV 5
    • 3 beds 2 baths ∙ 1,382 Sqft ∙ Built 1998 3 beds 2 baths ∙ 1,382 Sqft ∙ Built 1998
    LEASED 07/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,395
    • $1.01
    •  
PROPERTY LISTING DETAILS
Bram Call
1.702.337.5900
Era Brokers Consolidated
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2224858
Last Updated: 08/25/2020
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