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8082 Nottingham Hill Lane Las Vegas, NV 89113

4 Beds 3 Baths 2,283 sqft Built 2017

$430,000

List Price

$2,140

$1.9K - $2.4K

Rent Est.

PROPERTY INFO

November 21, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2017
  • Price/Sqft : $188.35
  • 4 Days on Market
  • MLS # : 2249689
  • Updated Date : 11/20/2020 at 20:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,283 sqft
  • Baths : 3 full
Listing Agent

Realty One Group, Inc

Listing Agent's Description

Upgrades Galore!! A beautiful home located in a gated community with security. Close to shopping, restaurants, 215 West easy access. Short drive or rider share to strip, easy access to Summerlin and much more.Whole house water softener with reverse osmosis,Upgraded stainless steel appliances Refrigerator, Dishwasher and washer dryer package, blinds for all windows,Ceiling fans in all bedrooms and Family room,Finished turf covered backyard with concrete storage and grilling area in addition to concrete pad for seating and/or fire pit,Additional outlets installed in backyard, Enclosed trash compartment area with cement pad and wooden privacy fence,Ring security alarm system and cameras with solar batteries,Nexia indoor video camera, Nexia remote control garage opener and mobile app,Stainless steel bird spikes on roofing,Sherwin Williams custom painted walls and garage extras of all paints for patching, upgraded padding and Mohawk carpet. Park/Pet park and lemon tree in backyard. Solar!

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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)

PRICE & RENT TRENDS

Neighborhood: Sovana

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320kPrice in $119k321k

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

Neighborhood: Sovana

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21100115012001250130013501400145015001550160016501700Rent in $10701722

* 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
Lucille Rogers Elementary School Primary Regular 775 43 9
Grant Sawyer Middle School Middle Regular 1,308 52 NA
Durango High School High Regular 2,302 95 5

Lucille Rogers Elementary School

  • Education Level: Primary
  • # of students: 775
  • # of teachers: 43
9
GreatSchools Rating

Grant Sawyer Middle School

  • Education Level: Middle
  • # of students: 1,308
  • # of teachers: 52
NA
GreatSchools Rating

Durango High School

  • Education Level: High
  • # of students: 2,302
  • # of teachers: 95
5
GreatSchools Rating
 

$387,000$473,000$430,000

PURCHASE PRICE

$1,926$2,354$2,140

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,140
EXPENSES Loan Payment -$1,587
Property Tax -$329
Property Insurance -$71
Property Management Fees -$119
CASH FLOW
$34

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.

$430,000

PROJECTED PRICE

$2,140

PROJECTED RENT

0.50%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.96%
Appreciation Year (1-5) 9.6%
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$1.4M$1.6M

PROJECTED ANNUAL CASH FLOW

11530$0.0$5.0k$10k$15k$20k$25k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$119,700

INVESTMENT

$119,700

Down Payment
$107,500
Rehab Estimate
$5,750
Closing Costs
$6,450

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 45% down payment or higher enables the proceeds from the asset to cover all costs.

$1,587

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $107,500
Loan Amount $322,500
See What Happens When You Reinvest Cash Flow

6.33

YEARS SAVED

$36,755

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,140

    LIST RENT
  • $0.94

    LIST RENT PER SQFT
  • $2,289

    COMP ESTIMATED VALUE
  • $1

    COMP AVG. RENT PER SQFT
Comps Range
$2,100
1$2,1002$2,1403$2,2504$2,4955$2,499
$2,499
RENT COMPS ANALYSIS
  • 8082 Nottingham Hill Lane Las Vegas, NV 2
    • 4 beds 3 baths ∙ 2,283 Sqft ∙ Built 2017 4 beds 3 baths ∙ 2,283 Sqft ∙ Built 2017
    • Rent
    • Rent Per SQFT
    •  
    • $2,140
    • $0.94
    •  
  • 6131 Andover Wood Las Vegas, NV 1
    • 4 beds 3 baths ∙ 2,286 Sqft ∙ Built 2018 4 beds 3 baths ∙ 2,286 Sqft ∙ Built 2018
    LEASED 05/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $0.92
    •  
  • 8132 Surrey Field Court Las Vegas, NV 3
    • 4 beds 4 baths ∙ 2,283 Sqft ∙ Built 2018 4 beds 4 baths ∙ 2,283 Sqft ∙ Built 2018
    LEASED 01/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,250
    • $0.99
    •  
  • 6370 Staley Downs Street Las Vegas, NV 4
    • 4 beds 3 baths ∙ 2,470 Sqft ∙ Built 2016 4 beds 3 baths ∙ 2,470 Sqft ∙ Built 2016
    LEASED 09/25/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,495
    • $1.01
    •  
  • 6154 Villa Lante Avenue Las Vegas, NV 5
    • 4 beds 3 baths ∙ 2,299 Sqft ∙ Built 2017 4 beds 3 baths ∙ 2,299 Sqft ∙ Built 2017
    LEASED 07/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,499
    • $1.09
    •  
PROPERTY LISTING DETAILS
Anthony Humphrey
1.702.861.1319
Realty One Group, Inc
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2249689
Last Updated: 11/20/2020
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