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8116 Sweetwater Creek Way Las Vegas, NV 89113

4 Beds 3 Baths 3,815 sqft Built 2015

$1,025,000

List Price

$2,780

$2.5K - $3K

Rent Est.

PROPERTY INFO

FACTS
  • Single Family
  • Built In 2015
  • Price/Sqft : $268.68
  • 24 Days on Market
  • MLS # : 2253643
  • Updated Date : 12/25/2020 at 02:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 3,815 sqft
  • Baths : 2 full , 1 half
Listing Agent

Norman R. Ross

Listing Agent's Description

This extraordinary 4 bedrooms 4 bath Lyons home with over $140,000 in upgrades by the current owner, including solar electric, instant hot water, tile floors, entertainment center with a 75 inch TV and surround sound, two custom bedroom closets in the master bedroom, security gates and doors, privacy drop shades, 6 hard-wired security cameras with 4 monitoring stations, hard & soft landscaping, custom pull out drawers in the kitchen, cabinets & storage racks in the 4 car garage, and more. The great room has floor to ceiling sliding doors that open to both the center courtyard & the covered back patio area providing plenty of room for the perfect party setting, or restrict your gathering to the center courtyard by bringing guest through the rear gate into the courtyard. Oh, almost forgot, you will love the feeling you get every month when the electric bill arrives.

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: 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
Judi D. Steele Elementary School Primary Regular 858 43 8
Lawrence And Heidi Canarelli Middle School Middle Regular 1,802 70 NA
Sierra Vista High School High Regular 2,396 88 4

Judi D. Steele Elementary School

  • Education Level: Primary
  • # of students: 858
  • # of teachers: 43
8
GreatSchools Rating

Lawrence And Heidi Canarelli Middle School

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

Sierra Vista High School

  • Education Level: High
  • # of students: 2,396
  • # of teachers: 88
4
GreatSchools Rating
 

$922,500$1,127,500$1,025,000

PURCHASE PRICE

$2,502$3,058$2,780

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,780
EXPENSES Loan Payment -$3,782
Property Tax -$642
Property Insurance -$101
Property Management Fees -$119
CASH FLOW
-$1,864

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.

$1,025,000

PROJECTED PRICE

$2,780

PROJECTED RENT

0.27%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.05%
Appreciation Year (1-5) 9.8%
Maintenance Year (1-5) 8.00%
Vacancy 7.57%
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$2.5M$3.0M$3.5M

PROJECTED ANNUAL CASH FLOW

11530-$30k-$25k-$20k-$15k-$10k-$5.0k$0.0$5.0k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$500k$1.0M$1.5M$2.0M$2.5M$3.0M$3.5M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$277,375

INVESTMENT

$277,375

Down Payment
$256,250
Rehab Estimate
$5,750
Closing Costs
$15,375

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 75% down payment or higher enables the proceeds from the asset to cover all costs.

$3,782

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $256,250
Loan Amount $768,750
See What Happens When You Reinvest Cash Flow

0.08

YEARS SAVED

$103

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,780

    LIST RENT
  • $0.73

    LIST RENT PER SQFT
  • $2,814

    COMP ESTIMATED VALUE
  • $0.74

    COMP AVG. RENT PER SQFT
Comps Range
$2,695
1$2,6952$2,7803$2,7954$2,8995$3,000
$3,000
RENT COMPS ANALYSIS
  • 8116 Sweetwater Creek Way Las Vegas, NV 2
    • 4 beds 3 baths ∙ 3,815 Sqft ∙ Built 2015 4 beds 3 baths ∙ 3,815 Sqft ∙ Built 2015
    • Rent
    • Rent Per SQFT
    •  
    • $2,780
    • $0.73
    •  
  • 61 Rancho Maria Street Las Vegas, NV 1
    • 5 beds 2 baths ∙ 3,715 Sqft ∙ Built 2002 5 beds 2 baths ∙ 3,715 Sqft ∙ Built 2002
    LEASED 03/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,695
    • $0.73
    •  
  • 111 Rancho Maria Street Las Vegas, NV 3
    • 5 beds 2 baths ∙ 3,716 Sqft ∙ Built 2002 5 beds 2 baths ∙ 3,716 Sqft ∙ Built 2002
    LEASED 03/26/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,795
    • $0.75
    •  
  • 524 First On Drive Las Vegas, NV 4
    • 3 beds 4 baths ∙ 3,962 Sqft ∙ Built 2006 3 beds 4 baths ∙ 3,962 Sqft ∙ Built 2006
    LEASED 02/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,899
    • $0.73
    •  
  • 24 Chateau Whistler Court Las Vegas, NV 5
    • 5 beds 3 baths ∙ 4,066 Sqft ∙ Built 1998 5 beds 3 baths ∙ 4,066 Sqft ∙ Built 1998
    LEASED 09/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,000
    • $0.74
    •  
PROPERTY LISTING DETAILS
Norman R Ross
1.702.712.8400
Norman R. Ross
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2253643
Last Updated: 12/25/2020
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