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8101 Flamingo Road #1004 # 1004 Las Vegas, NV 89147

2 Beds 2 Baths 911 sqft Built 1997

INVESTimate

$177,000

List Price

$950

$855 - $1,045

Rent Est.

$195,408  ( +10.40%)   1 YR EST. FORECAST

PROPERTY INFO

FACTS
  • Built In 1997
  • Price/Sqft : $194.29
  • 9 Days on Market
  • MLS # : 2222853
  • Updated Date : 08/25/2020 at 15:47
CONSTRUCTION
  • Beds : 2
  • Floor Size : 911 sqft
  • Baths : 2 full
Listing Agent

Centennial Real Estate

Listing Agent's Description

Great condo in a gated community. Totally turn key with SS appliances, granite counters, new tile flooring, new bamboo flooring in the bedrooms, freshly painted...much more. 1 car detached garage plus 1 assign cover parking, pool, spa club house....

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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)

PRICE & RENT TRENDS

Neighborhood: Rancho Viejo

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280kPrice in $119k296k

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

Neighborhood: Rancho Viejo

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21050110011501200125013001350140014501500155016001650Rent in $10361658

* 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
Roger M. Bryan Elementary School Primary Regular 651 34 6
Lawrence Junior High School Middle Regular 1,421 61 NA
Spring Valley High School High Regular 1,925 79 4

Roger M. Bryan Elementary School

  • Education Level: Primary
  • # of students: 651
  • # of teachers: 34
6
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
 

$159,300$194,700$177,000

PURCHASE PRICE

$855$1,045$950

RENT

DOWN PAYMENT
FINANCING

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$100k$200k$300k$400k$500k$600k

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $950
EXPENSES Loan Payment -$653
Property Tax -$90
Property Insurance -$45
HOA -$195
Property Management Fees -$119
CASH FLOW
-$152

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.

$177,000

PROJECTED PRICE

$950

PROJECTED RENT

0.54%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.96%
Appreciation Year (1-5) 10.40%
Maintenance Year (1-5) 8.00%
Vacancy 7.63%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$52,655

INVESTMENT

$52,655

Down Payment
$44,250
Rehab Estimate
$5,750
Closing Costs
$2,655

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 65% down payment or higher enables the proceeds from the asset to cover all costs.

$653

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $44,250
Loan Amount $132,750
See What Happens When You Reinvest Cash Flow

1.67

YEARS SAVED

$2,008

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $950

    LIST RENT
  • $1.04

    LIST RENT PER SQFT
  • $966

    COMP ESTIMATED VALUE
  • $1.06

    COMP AVG. RENT PER SQFT
Comps Range
$950
1$9502$9953$1,098
$1,098
RENT COMPS ANALYSIS
  • 8101 Flamingo Road #1004 Las Vegas, NV 1
    • 2 beds 2 baths ∙ 911 Sqft ∙ Built 1997 2 beds 2 baths ∙ 911 Sqft ∙ Built 1997
    • Rent
    • Rent Per SQFT
    •  
    • $950
    • $1.04
    •  
  • 7885 West Flamingo Road #1113 Las Vegas, NV 2
    • 2 beds 2 baths ∙ 934 Sqft ∙ Built 1997 2 beds 2 baths ∙ 934 Sqft ∙ Built 1997
    LEASED 05/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $995
    • $1.07
    •  
  • 8101 Flamingo Road #2095 Las Vegas, NV 3
    • 2 beds 2 baths ∙ 1,042 Sqft ∙ Built 1997 2 beds 2 baths ∙ 1,042 Sqft ∙ Built 1997
    LEASED 03/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,098
    • $1.05
    •  
PROPERTY LISTING DETAILS
Danny Mirkulovski
1.702.371.5416
Centennial Real Estate
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2222853
Last Updated: 08/25/2020
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