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8040 Red Rock Crest Street Las Vegas, NV 89166

4 Beds 3 Baths 2,128 sqft Built 2017

INVESTimate

$384,999

List Price

$1,730

$1,557 - $1,903

Rent Est.

$424,731  ( +10.32%)   1 YR EST. FORECAST

PROPERTY INFO

FACTS
  • Built In 2017
  • Price/Sqft : $180.92
  • 12 Days on Market
  • MLS # : 2222312
  • Updated Date : 08/24/2020 at 11:23
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,128 sqft
  • Baths : 2 full , 1 half
Listing Agent

Homie Llc

Listing Agent's Description

Welcome home! Look at this beautiful turn-key home located in the heart of Skye Canyon. Complete with a fully landscaped backyard, plantation shutters, breakfast bar, laundry room sink, walk-in pantry and closets this 4 bedroom, 2.5 bath home is ready for you to move in today! Plus no SID or LID saving you thousands! This master planned community also includes a fitness center, pool, splash pads, parks, 24 hour security and more.

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: Centennial Hills

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320k340k360kPrice in $119k362k

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

Neighborhood: Centennial Hills

NeighborhoodNIR Market*CityMarket2010Year20002019 Q211001200130014001500160017001800Rent in $10761875

* 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
Kenneth Divich Elementary Primary Unknown NA
Edmundo Eddie Escobedo Sr Middle School Middle Regular 1,171 47 NA
Arbor View High School High Regular 2,878 116 9

Kenneth Divich Elementary

  • Education Level: Primary
  • # of students:
  • # of teachers:
NA
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
 

$346,499$423,499$384,999

PURCHASE PRICE

$1,557$1,903$1,730

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$1.4M

PROJECTED ANNUAL CASH FLOW

11530-$5.0k$0.0$5.0k$10k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,730
EXPENSES Loan Payment -$1,420
Property Tax -$340
Property Insurance -$68
HOA -$165
Property Management Fees -$119
CASH FLOW
-$382

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.

$384,999

PROJECTED PRICE

$1,730

PROJECTED RENT

0.45%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.05%
Appreciation Year (1-5) 10.32%
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 65% 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 $288,749
See What Happens When You Reinvest Cash Flow

1.25

YEARS SAVED

$2,473

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,730

    LIST RENT
  • $0.81

    LIST RENT PER SQFT
  • $1,686

    COMP ESTIMATED VALUE
  • $0.79

    COMP AVG. RENT PER SQFT
Comps Range
$1,550
1$1,5502$1,6253$1,6954$1,7305$1,750
$1,750
RENT COMPS ANALYSIS
  • 8040 Red Rock Crest Street Las Vegas, NV 4
    • 4 beds 3 baths ∙ 2,128 Sqft ∙ Built 2017 4 beds 3 baths ∙ 2,128 Sqft ∙ Built 2017
    • Rent
    • Rent Per SQFT
    •  
    • $1,730
    • $0.81
    •  
  • 7928 Dexter Falls Street #0 Las Vegas, NV 1
    • 4 beds 3 baths ∙ 2,089 Sqft ∙ Built 2005 4 beds 3 baths ∙ 2,089 Sqft ∙ Built 2005
    LEASED 02/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $0.74
    •  
  • 9522 Michelle Falls Avenue Las Vegas, NV 2
    • 3 beds 3 baths ∙ 2,089 Sqft ∙ Built 2005 3 beds 3 baths ∙ 2,089 Sqft ∙ Built 2005
    LEASED 04/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,625
    • $0.78
    •  
  • 9548 Quitman Las Vegas, NV 3
    • 3 beds 3 baths ∙ 2,089 Sqft ∙ Built 2006 3 beds 3 baths ∙ 2,089 Sqft ∙ Built 2006
    LEASED 06/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $0.81
    •  
  • 9565 Gibbon Avenue Las Vegas, NV 5
    • 3 beds 3 baths ∙ 2,089 Sqft ∙ Built 2005 3 beds 3 baths ∙ 2,089 Sqft ∙ Built 2005
    LEASED 02/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.84
    •  
PROPERTY LISTING DETAILS
Janet Espinoza
1.702.358.1390
Homie Llc
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2222312
Last Updated: 08/24/2020
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