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8098 Skye Canyon Grand Street Las Vegas, NV 89166

3 Beds 2 Baths 1,486 sqft Built 2019

$349,000

List Price

$1,700

$1.5K - $1.9K

Rent Est.

PROPERTY INFO

Built 2019 NEW CONSTRUCTION
November 14, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2019
  • Price/Sqft : $234.86
  • 2 Days on Market
  • MLS # : 2248137
  • Updated Date : 11/14/2020 at 10:25
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,486 sqft
  • Baths : 1 full , 1 half
Listing Agent

Simply Vegas

Listing Agent's Description

BEAUTIFUL 3 BED , 2.5 BATH 2 STORY HOME IN THE HEART OF THE NW IN SKYE CANYON COMMUNITY . THIS HOME IS IN PRESTINE CONDITION WITH STAINLESS STEEL APPLIANCES , MODERN FINISHES, QUARTZ COUNTERS, CERAMIC WOOD LIKETILED FLOORS WITH PLUSH CARPET IN THE BEDROOMS. MASTER SUIT OFFERS LARGE WALK IN SHOWER.THIS COMMUNITY OFFERS POOL, EXCERCISE ROOM, FITNESS CENTER , JOGGING.PROOPERTY IS CONVENIENTLY LOCATED TO 95 FREEWAY , MOUNT CHARLESTON AND THE SUMMERLIN AREA OF LAS VEGAS.YOU CAN ALSO ENJOY A LOW MAINTENANCE BACK YARD . BUYER AND BUYERS AGENT TO VERIFY ALL INFORMATION, HOA FEES , SIDS LIDS SCHOOL ZONES , PROPERTY ,TAXES, ETC . DONT MISS THIS ONE

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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: 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
James Bilbray Elementary School Primary Regular 763 39 9
Edmundo Eddie Escobedo Sr Middle School Middle Regular 1,171 47 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

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
 

$314,100$383,900$349,000

PURCHASE PRICE

$1,530$1,870$1,700

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,700
EXPENSES Loan Payment -$1,288
Property Tax -$107
Property Insurance -$56
Property Management Fees -$119
CASH FLOW
$131

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 11% of earned rent to cover both maintenance and periods of vacancy.

$349,000

PROJECTED PRICE

$1,700

PROJECTED RENT

0.49%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.05%
Appreciation Year (1-5) 10.3%
Maintenance Year (1-5) 3.00%
Vacancy 7.57%
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

PROJECTED ANNUAL CASH FLOW

11530$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$94,485

INVESTMENT

$94,485

Down Payment
$87,250
Rehab Estimate
$2,000
Closing Costs
$5,235

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 35% down payment or higher enables the proceeds from the asset to cover all costs.

$1,288

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $87,250
Loan Amount $261,750
See What Happens When You Reinvest Cash Flow

8.5

YEARS SAVED

$47,300

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,700

    LIST RENT
  • $1.14

    LIST RENT PER SQFT
  • $1,430

    COMP ESTIMATED VALUE
  • $0.96

    COMP AVG. RENT PER SQFT
Comps Range
$1,550
1$1,5502$1,5953$1,5954$1,6005$1,700
$1,700
RENT COMPS ANALYSIS
  • 8098 Skye Canyon Grand Street Las Vegas, NV 5
    • 3 beds 2 baths ∙ 1,486 Sqft ∙ Built 2019 3 beds 2 baths ∙ 1,486 Sqft ∙ Built 2019
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $1.14
    •  
  • 10227 Headrick Drive Las Vegas, NV 1
    • 4 beds 3 baths ∙ 1,608 Sqft ∙ Built 2008 4 beds 3 baths ∙ 1,608 Sqft ∙ Built 2008
    LEASED 10/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $0.96
    •  
  • 7834 Brodie Castle Court Las Vegas, NV 2
    • 3 beds 3 baths ∙ 1,661 Sqft ∙ Built 2007 3 beds 3 baths ∙ 1,661 Sqft ∙ Built 2007
    LEASED 03/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $0.96
    •  
  • 10232 Yarmouth Sea Court Las Vegas, NV 3
    • 3 beds 3 baths ∙ 1,656 Sqft ∙ Built 2015 3 beds 3 baths ∙ 1,656 Sqft ∙ Built 2015
    LEASED 07/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $0.96
    •  
  • 10725 Pearl River Avenue Las Vegas, NV 4
    • 3 beds 3 baths ∙ 1,652 Sqft ∙ Built 2009 3 beds 3 baths ∙ 1,652 Sqft ∙ Built 2009
    LEASED 02/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $0.97
    •  
PROPERTY LISTING DETAILS
Paul M Bowler
1.702.845.3403
Simply Vegas
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2248137
Last Updated: 11/14/2020
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