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8105 Wispy Sage Way Las Vegas, NV 89149

5 Beds 3 Baths 3,166 sqft Built 1988

$649,888

List Price

$2,590

$2.3K - $2.8K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
February 19, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1988
  • Price/Sqft : $205.27
  • 5 Days on Market
  • MLS # : 2271239
  • Updated Date : 02/19/2021 at 04:30
CONSTRUCTION
  • Beds : 5
  • Floor Size : 3,166 sqft
  • Baths : 3 full
Listing Agent

Nationwide Realty Llc

Listing Agent's Description

Your dream home is waiting. Welcome to The Estates. A custom home subdivision inside the guard gated community Painted Desert. Painted Desert has 5 lit tennis courts, 4 lit pickle ball courts, racquet ball in clubhouse with restaurant plus much more. This spacious home is a blank canvas and waiting for you to design and make yours. Why settle for a home that isn't custom finished to your liking. This amazing layout is great for both formal and casual entertaining. All rooms are great in size. A large backyard with a covered patio and sparkling pool and spa is perfect for Las Vegas summers. This could be your masterpiece! Let us bring your vision to life. Hurry and come see today!

SEE MORE

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: Painted Desert Estates

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450k500k550k600kPrice in $119k640k

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

Neighborhood: Painted Desert Estates

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2120014001600180020002200240026002800Rent in $10762972

* 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
Dean Lamar Allen Elementary School Primary Regular 660 32 6
Justice M E Leavitt Middle School Middle Regular 1,496 64 NA
Centennial High School High Regular 3,055 124 6

Dean Lamar Allen Elementary School

  • Education Level: Primary
  • # of students: 660
  • # of teachers: 32
6
GreatSchools Rating

Justice M E Leavitt Middle School

  • Education Level: Middle
  • # of students: 1,496
  • # of teachers: 64
NA
GreatSchools Rating

Centennial High School

  • Education Level: High
  • # of students: 3,055
  • # of teachers: 124
6
GreatSchools Rating
 

$584,899$714,877$649,888

PURCHASE PRICE

$2,331$2,849$2,590

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,590
EXPENSES Loan Payment -$2,257
Property Tax -$402
Property Insurance -$88
Property Management Fees -$119
CASH FLOW
-$277

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.

$649,888

PROJECTED PRICE

$2,590

PROJECTED RENT

0.40%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.96%
Appreciation Year (1-5) 9.8%
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$25k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$500k$1.0M$1.5M$2.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$177,970

INVESTMENT

$177,970

Down Payment
$162,472
Rehab Estimate
$5,750
Closing Costs
$9,748

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,257

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $162,472
Loan Amount $487,416
See What Happens When You Reinvest Cash Flow

3.5

YEARS SAVED

$20,239

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,590

    LIST RENT
  • $0.82

    LIST RENT PER SQFT
  • $2,596

    COMP ESTIMATED VALUE
  • $0.82

    COMP AVG. RENT PER SQFT
Comps Range
$2,350
1$2,3502$2,5903$2,5954$2,6505$2,800
$2,800
RENT COMPS ANALYSIS
  • 8105 Wispy Sage Way Las Vegas, NV 2
    • 5 beds 3 baths ∙ 3,166 Sqft ∙ Built 1988 5 beds 3 baths ∙ 3,166 Sqft ∙ Built 1988
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,590
    • $0.82
    •  
  • 8517 Gilmore Avenue Las Vegas, NV 1
    • 5 beds 3 baths ∙ 3,007 Sqft ∙ Built 1998 5 beds 3 baths ∙ 3,007 Sqft ∙ Built 1998
    property image
    LEASED 07/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,350
    • $0.78
    •  
  • 4645 Cimarron Road Las Vegas, NV 3
    • 6 beds 3 baths ∙ 3,172 Sqft ∙ Built 1988 6 beds 3 baths ∙ 3,172 Sqft ∙ Built 1988
    property image
    LEASED 08/30/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,595
    • $0.82
    •  
  • 8073 Mackenzie Court Las Vegas, NV 4
    • 5 beds 4 baths ∙ 3,494 Sqft ∙ Built 1991 5 beds 4 baths ∙ 3,494 Sqft ∙ Built 1991
    property image
    LEASED 05/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,650
    • $0.76
    •  
  • 4779 Laurel Canyon Street Las Vegas, NV 5
    • 4 beds 4 baths ∙ 3,048 Sqft ∙ Built 2002 4 beds 4 baths ∙ 3,048 Sqft ∙ Built 2002
    property image
    LEASED 11/22/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,800
    • $0.92
    •  
PROPERTY LISTING DETAILS
Omar J Merced
1.702.481.4200
Nationwide Realty Llc
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2271239
Last Updated: 02/19/2021
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