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8068 Maddingley Avenue Las Vegas, NV 89117

4 Beds 3 Baths 3,025 sqft Built 2002

$564,900

List Price

$2,240

$2K - $2.5K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 11, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2002
  • Price/Sqft : $186.74
  • 4 Days on Market
  • MLS # : 2277448
  • Updated Date : 03/13/2021 at 04:51
CONSTRUCTION
  • Beds : 4
  • Floor Size : 3,025 sqft
  • Baths : 2 full , 1 half
Listing Agent

Queensridge Realty

Listing Agent's Description

EXCELLENT ALL SINGLE STORY GATED COMMUNITY IN GREAT LOCATION! 4 BEDROOM/3 BATH/3 CAR GARAGE. HOME HAS A SEPARATE SECONDARY MINI MASTER THAT IS PRIVATE FROM THE OTHER BEDROOMS. FORMAL LIVING/GAME ROOM WITH BIG WINDOWS. SEPARATE LARGE DINING ROOM WITH VIEW OF THE ENCLOSED COURTYARD. KITCHEN HAS HUGE GRANITE ISLAND WITH SEPARATE NOOK AREA THAT OPENS TO THE COURTYARD. LARGE, COMFORTABLE FAMILY ROOM WITH GAS FIREPLACE. OVERSIZED MASTER BEDROOM WITH HUGE CUSTOMIZED WALKIN CLOSET. SECONDARY BEDROOMS WITH JACK AND JILL BATH. SPACIOUS LAUNDRY ROOM. POOL SIZE LOT. BACKYARD IS PRIVATE. DONT MISS IT. THIS WILL GO QUICKLY.

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MARKET HIGHLIGHTS

  • 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)
  • 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)

PRICE & RENT TRENDS

Neighborhood: The Lakes-Country Club

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320k340k360kPrice in $119k368k

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

Neighborhood: The Lakes-Country Club

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21200140016001800200022002400260028003000Rent in $10763020

* 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
R. Guild Gray Elementary School Primary Regular 521 24 5
Lawrence Junior High School Middle Regular 1,421 61 NA
Spring Valley High School High Regular 1,925 79 4

R. Guild Gray Elementary School

  • Education Level: Primary
  • # of students: 521
  • # of teachers: 24
5
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
 

$508,410$621,390$564,900

PURCHASE PRICE

$2,016$2,464$2,240

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,240
EXPENSES Loan Payment -$1,962
Property Tax -$354
Property Insurance -$86
Property Management Fees -$119
CASH FLOW
-$281

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.

$564,900

PROJECTED PRICE

$2,240

PROJECTED RENT

0.40%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.96%
Appreciation Year (1-5) 9.5%
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$500k$1.0M$1.5M$2.0M

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$1.6M$1.8M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$155,449

INVESTMENT

$155,449

Down Payment
$141,225
Rehab Estimate
$5,750
Closing Costs
$8,474

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,962

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $141,225
Loan Amount $423,675
See What Happens When You Reinvest Cash Flow

3.25

YEARS SAVED

$15,054

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,240

    LIST RENT
  • $0.74

    LIST RENT PER SQFT
  • $2,231

    COMP ESTIMATED VALUE
  • $0.74

    COMP AVG. RENT PER SQFT
Comps Range
$1,840
1$1,8402$2,0003$2,2404$2,2505$2,600
$2,600
RENT COMPS ANALYSIS
  • 8068 Maddingley Avenue Las Vegas, NV 3
    • 4 beds 3 baths ∙ 3,025 Sqft ∙ Built 2002 4 beds 3 baths ∙ 3,025 Sqft ∙ Built 2002
    • Rent
    • Rent Per SQFT
    •  
    • $2,240
    • $0.74
    •  
  • 8247 Azure Shores Court Las Vegas, NV 1
    • 4 beds 3 baths ∙ 2,917 Sqft ∙ Built 2000 4 beds 3 baths ∙ 2,917 Sqft ∙ Built 2000
    LEASED 07/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,840
    • $0.63
    •  
  • 8466 Cobble Village Court Las Vegas, NV 2
    • 4 beds 2 baths ∙ 2,917 Sqft ∙ Built 2002 4 beds 2 baths ∙ 2,917 Sqft ∙ Built 2002
    LEASED 11/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $0.69
    •  
  • 3049 Jacaranda Drive #0 Las Vegas, NV 4
    • 5 beds 2 baths ∙ 2,917 Sqft ∙ Built 2001 5 beds 2 baths ∙ 2,917 Sqft ∙ Built 2001
    LEASED 10/26/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,250
    • $0.77
    •  
  • 2960 Reiger Court Las Vegas, NV 5
    • 3 beds 1 baths ∙ 3,037 Sqft ∙ Built 1984 3 beds 1 baths ∙ 3,037 Sqft ∙ Built 1984
    LEASED 10/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,600
    • $0.86
    •  
PROPERTY LISTING DETAILS
Dino Satallante
1.702.540.9299
Queensridge Realty
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2277448
Last Updated: 03/13/2021
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