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8125 Otter Falls Court North Las Vegas, NV 89085

4 Beds 3 Baths 2,353 sqft Built 2006

$370,990

List Price

$1,610

$1.4K - $1.8K

Rent Est.

PROPERTY INFO

October 31, 2020 RECENTLY ADDED
FACTS
  • Built In 2006
  • Price/Sqft : $157.67
  • 5 Days on Market
  • MLS # : 2238773
  • Updated Date : 11/02/2020 at 15:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,353 sqft
  • Baths : 3 full
Listing Agent

Xpand Realty & Property Manage

Listing Agent's Description

** Rare Single Story Home in Northwest ** This Home Has IT!! 2,353 sq. ft Open Floor plan, 4 bedrooms, 3 Full baths, + Large Den / Office, 2 car garage, situated on a pool size lot. Located in Waterfall, a gated community. You will love the layout of this wonderful home - All bedrooms are located in separate areas of the home. A Jack n' Jill full bath, fire place, media niche, ceiling fans, carpet & tile throughout. Granite countertops in kitchen, large pantry. Main bath features a double vanity, walk in closet, separate tub / shower. Natural lighting throughout. Home is tucked away in a cul de sac, just nearby, is the lush park, equipped with a picnic & BBQ area, playground, surrounded by beautiful trees and bold views of the mountains! Community center features a clubhouse, pool, spa & fitness center. In close proximity of the new freeway, stores, restaurants and more!! This home won't last long in the ever growing community - Aliante! Virtual Tour avail!

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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)

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
 

$333,891$408,089$370,990

PURCHASE PRICE

$1,449$1,771$1,610

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,610
EXPENSES Loan Payment -$1,369
Property Tax -$329
Property Insurance -$73
Property Management Fees -$119
CASH FLOW
-$279

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.

$370,990

PROJECTED PRICE

$1,610

PROJECTED RENT

0.43%

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

PROJECTED ANNUAL CASH FLOW

11530-$5.0k$0.0$5.0k$10k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$104,062

INVESTMENT

$104,062

Down Payment
$92,748
Rehab Estimate
$5,750
Closing Costs
$5,565

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 60% down payment or higher enables the proceeds from the asset to cover all costs.

$1,369

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $92,748
Loan Amount $278,243
See What Happens When You Reinvest Cash Flow

2.25

YEARS SAVED

$6,734

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,610

    LIST RENT
  • $0.68

    LIST RENT PER SQFT
  • $1,724

    COMP ESTIMATED VALUE
  • $0.73

    COMP AVG. RENT PER SQFT
Comps Range
$1,595
1$1,5952$1,6103$1,7504$1,7955$1,825
$1,825
RENT COMPS ANALYSIS
  • 8125 Otter Falls Court North Las Vegas, NV 2
    • 4 beds 3 baths ∙ 2,353 Sqft ∙ Built 2006 4 beds 3 baths ∙ 2,353 Sqft ∙ Built 2006
    • Rent
    • Rent Per SQFT
    •  
    • $1,610
    • $0.68
    •  
  • 3829 Bowers Hollow Avenue North Las Vegas, NV 1
    • 3 beds 3 baths ∙ 2,186 Sqft ∙ Built 2007 3 beds 3 baths ∙ 2,186 Sqft ∙ Built 2007
    LEASED 10/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $0.73
    •  
  • 8223 Oasis Bloom North Las Vegas, NV 3
    • 4 beds 3 baths ∙ 2,495 Sqft ∙ Built 2007 4 beds 3 baths ∙ 2,495 Sqft ∙ Built 2007
    LEASED 06/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.70
    •  
  • 4120 Narada Falls Avenue North Las Vegas, NV 4
    • 4 beds 3 baths ∙ 2,353 Sqft ∙ Built 2007 4 beds 3 baths ∙ 2,353 Sqft ∙ Built 2007
    LEASED 09/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,795
    • $0.76
    •  
  • 8012 San Mateo Street North Las Vegas, NV 5
    • 4 beds 2 baths ∙ 2,474 Sqft ∙ Built 2008 4 beds 2 baths ∙ 2,474 Sqft ∙ Built 2008
    LEASED 03/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,825
    • $0.74
    •  
PROPERTY LISTING DETAILS
Terry Nacion
1.702.235.7214
Xpand Realty & Property Manage
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2238773
Last Updated: 11/02/2020
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