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8124 Lake Hills Drive Las Vegas, NV 89128

5 Beds 4 Baths 3,406 sqft Built 1989

$649,999

List Price

$2,810

$2.6K - $3.1K

Rent Est.

PROPERTY INFO

February 10, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1989
  • Price/Sqft : $190.84
  • 5 Days on Market
  • MLS # : 2269315
  • Updated Date : 02/11/2021 at 18:13
CONSTRUCTION
  • Beds : 5
  • Floor Size : 3,406 sqft
  • Baths : 3 full , 1 half
Listing Agent

Precision Realty

Listing Agent's Description

Located in ONE OF A KIND, Gated community in Desert Shores! Enjoy quiet, serene sunset walks by the lake, days in the sun at the sandy beach, and more! Community has lakes, beach, huge clubhouse, volleyball, tennis quarts, park, BBQ areas, and more! This is truly a unique and exceptional community! Home is filled with incredible upgrades and features! 3 car garage, vaulted ceilings with floor to ceiling tile fireplace, plenty of natural light, huge kitchen, large master suite and bath. Everything has been redone inside! Kitchen has island, gorgeous quartz counters, tile backsplash, white shaker cabinets, wine fridge and more! Spacious master bedroom with fireplace, large master bath has dual upgraded vanity, separate shower and freestanding tub! Gorgeous finishes in bathrooms include custom iled showers and flooring, upgraded mirrors, new vanities, and more! Backyard features balcony, covered patio, and private pool!

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: Desert Shores

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320k340k360kPrice in $119k362k

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

Neighborhood: Desert Shores

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2110012001300140015001600170018001900Rent in $10761945

* 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
Dorothy Eisenberg Elementary School Primary Regular 609 33 6
Ernest Becker Middle School Middle Regular 1,392 56 NA
Cimarron Memorial High School High Regular 2,541 102 3

Dorothy Eisenberg Elementary School

  • Education Level: Primary
  • # of students: 609
  • # of teachers: 33
6
GreatSchools Rating

Ernest Becker Middle School

  • Education Level: Middle
  • # of students: 1,392
  • # of teachers: 56
NA
GreatSchools Rating

Cimarron Memorial High School

  • Education Level: High
  • # of students: 2,541
  • # of teachers: 102
3
GreatSchools Rating
 

$584,999$714,999$649,999

PURCHASE PRICE

$2,529$3,091$2,810

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,810
EXPENSES Loan Payment -$2,258
Property Tax -$332
Property Insurance -$93
Property Management Fees -$119
CASH FLOW
$9

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.

$649,999

PROJECTED PRICE

$2,810

PROJECTED RENT

0.43%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.05%
Appreciation Year (1-5) 8.5%
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

PROJECTED ANNUAL CASH FLOW

11530-$5.0k$0.0$5.0k$10k$15k$20k$25k$30k$35k

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$178,000

INVESTMENT

$178,000

Down Payment
$162,500
Rehab Estimate
$5,750
Closing Costs
$9,750

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 45% down payment or higher enables the proceeds from the asset to cover all costs.

$2,258

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $162,500
Loan Amount $487,499
See What Happens When You Reinvest Cash Flow

6

YEARS SAVED

$44,809

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,810

    LIST RENT
  • $0.83

    LIST RENT PER SQFT
  • $2,776

    COMP ESTIMATED VALUE
  • $0.82

    COMP AVG. RENT PER SQFT
Comps Range
$2,250
1$2,2502$2,5953$2,8104$2,9955$3,200
$3,200
RENT COMPS ANALYSIS
  • 8124 Lake Hills Drive Las Vegas, NV 3
    • 5 beds 4 baths ∙ 3,406 Sqft ∙ Built 1989 5 beds 4 baths ∙ 3,406 Sqft ∙ Built 1989
    • Rent
    • Rent Per SQFT
    •  
    • $2,810
    • $0.83
    •  
  • 2636 Ohio Las Vegas, NV 1
    • 4 beds 2 baths ∙ 3,245 Sqft ∙ Built 1989 4 beds 2 baths ∙ 3,245 Sqft ∙ Built 1989
    LEASED 06/25/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,250
    • $0.69
    •  
  • 8300 Tivoli Cove Drive Las Vegas, NV 2
    • 5 beds 3 baths ∙ 3,490 Sqft ∙ Built 1990 5 beds 3 baths ∙ 3,490 Sqft ∙ Built 1990
    LEASED 01/19/21
    • Rent
    • Rent Per SQFT
    •  
    • $2,595
    • $0.74
    •  
  • 8213 Ocean Terrace Way Las Vegas, NV 4
    • 5 beds 2 baths ∙ 3,490 Sqft ∙ Built 1990 5 beds 2 baths ∙ 3,490 Sqft ∙ Built 1990
    LEASED 09/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,995
    • $0.86
    •  
  • 8105 Tiara Cove Circle #0 Las Vegas, NV 5
    • 5 beds 3 baths ∙ 3,310 Sqft ∙ Built 1995 5 beds 3 baths ∙ 3,310 Sqft ∙ Built 1995
    LEASED 01/20/21
    • Rent
    • Rent Per SQFT
    •  
    • $3,200
    • $0.97
    •  
PROPERTY LISTING DETAILS
Enzo Varela
1.702.280.8300
Precision Realty
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2269315
Last Updated: 02/11/2021
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