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8115 Russell Creek Court Las Vegas, NV 89139

5 Beds 2 Baths 3,005 sqft Built 2017

INVESTimate

$460,000

List Price

$2,320

$2,088 - $2,552

Rent Est.

$505,034  ( +9.79%)   1 YR EST. FORECAST

PROPERTY INFO

August 24, 2020 RECENTLY ADDED
FACTS
  • Built In 2017
  • Price/Sqft : $153.08
  • 3 Days on Market
  • MLS # : 2223687
  • Updated Date : 08/25/2020 at 11:29
CONSTRUCTION
  • Beds : 5
  • Floor Size : 3,005 sqft
  • Baths : 1 full , 1 half
Listing Agent

Keller Williams Market Place I

Listing Agent's Description

Wonderful tri-level opportunity in the desirable and booming southwest area! This 5BR 3.5BA 3005 sqft home is an absolute stunner. Kitchen features, Upgraded Cabinets, Granite Counter-tops, Stainless Steel Appliances, and an Island Breakfast Counter. The ground floor features a Large Family Room and a Separate In-Law Suite with a Full Bathroom. The Mid-level floor features front-facing and back-facing Balconies, additional Family Room, separate Living Room, and Dining Room. The top-floor the main living space, featuring the Master BR, and 3 nice sized rooms, each room has a Walk-In Closet. This house is perfect for large families, very Spacious, and Move-in Ready. Come take a look today!

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • As the largest share, Las Vegas metro contributes to 75.1% of Nevada state's economy i.e. Gross State Product (USMayors.org, 2018)

PRICE & RENT TRENDS

Neighborhood: Enterprise

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320k340k360kPrice in $119k362k

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

Neighborhood: Enterprise

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2100011001200130014001500160017001800Rent in $9981875

* 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
Mark L. Fine Elementary School Primary Regular 1,001 51 6
Lawrence And Heidi Canarelli Middle School Middle Regular 1,802 70 NA
Desert Oasis High School High Regular 2,417 102 5

Mark L. Fine Elementary School

  • Education Level: Primary
  • # of students: 1,001
  • # of teachers: 51
6
GreatSchools Rating

Lawrence And Heidi Canarelli Middle School

  • Education Level: Middle
  • # of students: 1,802
  • # of teachers: 70
NA
GreatSchools Rating

Desert Oasis High School

  • Education Level: High
  • # of students: 2,417
  • # of teachers: 102
5
GreatSchools Rating
 

$414,000$506,000$460,000

PURCHASE PRICE

$2,088$2,552$2,320

RENT

DOWN PAYMENT
FINANCING

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$1.8M

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$1.6M

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,320
EXPENSES Loan Payment -$1,697
Property Tax -$362
Property Insurance -$85
HOA -$40
Property Management Fees -$119
CASH FLOW
$16

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.

$460,000

PROJECTED PRICE

$2,320

PROJECTED RENT

0.50%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.05%
Appreciation Year (1-5) 9.79%
Maintenance Year (1-5) 8.00%
Vacancy 7.57%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$127,650

INVESTMENT

$127,650

Down Payment
$115,000
Rehab Estimate
$5,750
Closing Costs
$6,900

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 50% down payment or higher enables the proceeds from the asset to cover all costs.

$1,697

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $115,000
Loan Amount $345,000
See What Happens When You Reinvest Cash Flow

6.08

YEARS SAVED

$37,287

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,320

    LIST RENT
  • $0.77

    LIST RENT PER SQFT
  • $2,021

    COMP ESTIMATED VALUE
  • $0.67

    COMP AVG. RENT PER SQFT
Comps Range
$1,900
1$1,9002$1,9503$2,1004$2,1755$2,320
$2,320
RENT COMPS ANALYSIS
  • 8115 Russell Creek Court Las Vegas, NV 5
    • 5 beds 2 baths ∙ 3,005 Sqft ∙ Built 2017 5 beds 2 baths ∙ 3,005 Sqft ∙ Built 2017
    • Rent
    • Rent Per SQFT
    •  
    • $2,320
    • $0.77
    •  
  • 6344 Stag Hollow Court Las Vegas, NV 1
    • 4 beds 2 baths ∙ 2,971 Sqft ∙ Built 2014 4 beds 2 baths ∙ 2,971 Sqft ∙ Built 2014
    LEASED 11/14/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,900
    • $0.64
    •  
  • 6415 Screaming Eagle Las Vegas, NV 2
    • 4 beds 3 baths ∙ 3,111 Sqft ∙ Built 2011 4 beds 3 baths ∙ 3,111 Sqft ∙ Built 2011
    LEASED 04/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $0.63
    •  
  • 8039 Noble Ridge Street Las Vegas, NV 3
    • 4 beds 3 baths ∙ 3,054 Sqft ∙ Built 2019 4 beds 3 baths ∙ 3,054 Sqft ∙ Built 2019
    LEASED 12/17/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $0.69
    •  
  • 6380 Cascade Cliffs Court Las Vegas, NV 4
    • 4 beds 3 baths ∙ 2,971 Sqft ∙ Built 2015 4 beds 3 baths ∙ 2,971 Sqft ∙ Built 2015
    LEASED 08/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,175
    • $0.73
    •  
PROPERTY LISTING DETAILS
Haoran Gao
1.646.643.1088
Keller Williams Market Place I
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2223687
Last Updated: 08/25/2020
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