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8117 Briggs Gully Street North Las Vegas, NV 89085

4 Beds 3 Baths 2,751 sqft Built 2005

$400,000

List Price

$1,950

$1.8K - $2.1K

Rent Est.

PROPERTY INFO

November 21, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2005
  • Price/Sqft : $145.40
  • 3 Days on Market
  • MLS # : 2249816
  • Updated Date : 11/20/2020 at 22:34
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,751 sqft
  • Baths : 3 full
Listing Agent

Keller Williams Market Place

Listing Agent's Description

Well maintained property in a gated community, surrounded by shopping and parks. This 2-story home has 4 beds, 3 baths, and a 3-car garage for those that enjoy lots of space. You walk into a spacious living room with vaulted ceilings and then enter the large and open kitchen with granite countertops, stainless steel appliances, and an island that overlooks the family room with surround sound and access to the backyard, which is great for entertaining. The backyard has a full length covered patio for the hot summer months, mature landscaping and an upgraded hot tub for the cold winter months. All of the bedrooms are extremely roomy, with the Master being on the first floor and in proximity to the sizable laundry room. There is also a huge loft, which is another great area for entertaining. Many other features that you will see during your viewing of this fabulous property. This one won't last long!

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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: Nelson Ranch

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320k340k360k380k400k420kPrice in $110k422k

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

Neighborhood: Nelson Ranch

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2100011001200130014001500160017001800Rent in $9671875

* 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
Vincent L. Triggs Elementary School Primary Regular 761 40 7
Anthony Saville Middle School Middle Regular 1,494 58 NA
Shadow Ridge High School High Regular 2,697 105 6

Vincent L. Triggs Elementary School

  • Education Level: Primary
  • # of students: 761
  • # of teachers: 40
7
GreatSchools Rating

Anthony Saville Middle School

  • Education Level: Middle
  • # of students: 1,494
  • # of teachers: 58
NA
GreatSchools Rating

Shadow Ridge High School

  • Education Level: High
  • # of students: 2,697
  • # of teachers: 105
6
GreatSchools Rating
 

$360,000$440,000$400,000

PURCHASE PRICE

$1,755$2,145$1,950

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,950
EXPENSES Loan Payment -$1,476
Property Tax -$345
Property Insurance -$80
Property Management Fees -$119
CASH FLOW
-$71

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.

$400,000

PROJECTED PRICE

$1,950

PROJECTED RENT

0.49%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.05%
Appreciation Year (1-5) 6.2%
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$200k$400k$600k$800k$1.0M$1.2M

PROJECTED ANNUAL CASH FLOW

11530-$5.0k$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$111,750

INVESTMENT

$111,750

Down Payment
$100,000
Rehab Estimate
$5,750
Closing Costs
$6,000

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,476

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $100,000
Loan Amount $300,000
See What Happens When You Reinvest Cash Flow

5.08

YEARS SAVED

$24,268

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,950

    LIST RENT
  • $0.71

    LIST RENT PER SQFT
  • $1,939

    COMP ESTIMATED VALUE
  • $0.71

    COMP AVG. RENT PER SQFT
Comps Range
$1,895
1$1,8952$1,9003$1,9504$2,0155$2,100
$2,100
RENT COMPS ANALYSIS
  • 8117 Briggs Gully Street North Las Vegas, NV 3
    • 4 beds 3 baths ∙ 2,751 Sqft ∙ Built 2005 4 beds 3 baths ∙ 2,751 Sqft ∙ Built 2005
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $0.71
    •  
  • 5048 Indigo Gorge Las Vegas, NV 1
    • 4 beds 3 baths ∙ 2,791 Sqft ∙ Built 2002 4 beds 3 baths ∙ 2,791 Sqft ∙ Built 2002
    property image
    LEASED 04/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,895
    • $0.68
    •  
  • 3924 Piedra Falls Court North Las Vegas, NV 2
    • 3 beds 3 baths ∙ 2,821 Sqft ∙ Built 2006 3 beds 3 baths ∙ 2,821 Sqft ∙ Built 2006
    property image
    LEASED 07/24/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,900
    • $0.67
    •  
  • 4714 Prairie Coach Avenue #0 North Las Vegas, NV 4
    • 5 beds 3 baths ∙ 2,757 Sqft ∙ Built 2012 5 beds 3 baths ∙ 2,757 Sqft ∙ Built 2012
    property image
    LEASED 05/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,015
    • $0.73
    •  
  • 3720 Kettle Falls Avenue North Las Vegas, NV 5
    • 4 beds 3 baths ∙ 2,821 Sqft ∙ Built 2006 4 beds 3 baths ∙ 2,821 Sqft ∙ Built 2006
    property image
    LEASED 09/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $0.74
    •  
PROPERTY LISTING DETAILS
Christine E Krasn
1.702.461.5170
Keller Williams Market Place
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2249816
Last Updated: 11/20/2020
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