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8137 Sweetwater Creek Way Las Vegas, NV 89113

4 Beds 4 Baths 4,190 sqft Built 2015

INVESTimate

$1,399,900

List Price

$4,460

$4,210 - $4,710

Rent Est.

$1,536,950  ( +9.79%)   1 YR EST. FORECAST

PROPERTY INFO

August 22, 2020 RECENTLY ADDED
FACTS
  • Built In 2015
  • Price/Sqft : $334.11
  • 6 Days on Market
  • MLS # : 2223672
  • Updated Date : 08/22/2020 at 14:52
CONSTRUCTION
  • Beds : 4
  • Floor Size : 4,190 sqft
  • Baths : 3 full , 1 half
Listing Agent

Petra Realty Group

Listing Agent's Description

Very rare, sprawling single story pool home, within a gated community. Set upon nearly a ½ acre, this formal model beauty is abounding in upgrades. The custom varied flooring and majestic wood beamed ceiling are only the beginning. Kitchen boasts of wood paneled recessed lighting, crown molded cabinetry, commercial grade venting, stunning backsplash, Thermador stainless appliances, separate full size dining/presentation counter, butler’s pantry with full size wine fridge. Endless options await with the 3 panel collapsible doors to the backyard and the internal center courtyard, with upgraded fireplace and concrete/river rock flooring. Multi-generational suite with microwave and fridge. Upgraded master bath with luxury tub, rainfall showers, dual body massaging shower heads. 3 car Garage with epoxy flooring and a TESLA charger. Refreshing contoured pool adorns your landscaped backyard with covered patio and flush mounted heat lamps. ACCESS 3D IMMERSIBLE TOUR FOR VIRTUAL WALK THROUGH.

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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
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
 

$1,259,910$1,539,890$1,399,900

PURCHASE PRICE

$4,014$4,906$4,460

RENT

DOWN PAYMENT
FINANCING

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$1.0M$2.0M$3.0M$4.0M

PROJECTED ANNUAL CASH FLOW

11530-$30k-$20k-$10k$0.0$10k$20k$30k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$1.0M$2.0M$3.0M$4.0M

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $4,460
EXPENSES Loan Payment -$5,165
Property Tax -$720
Property Insurance -$108
HOA -$98
Property Management Fees -$119
CASH FLOW
-$1,751

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.

$1,399,900

PROJECTED PRICE

$4,460

PROJECTED RENT

0.32%

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$376,724

INVESTMENT

$376,724

Down Payment
$349,975
Rehab Estimate
$5,750
Closing Costs
$20,999

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 65% down payment or higher enables the proceeds from the asset to cover all costs.

$5,165

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $349,975
Loan Amount $1,049,925
See What Happens When You Reinvest Cash Flow

0.5

YEARS SAVED

$2,523

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $4,460

    LIST RENT
  • $1.06

    LIST RENT PER SQFT
  • $3,080

    COMP ESTIMATED VALUE
  • $0.74

    COMP AVG. RENT PER SQFT
Comps Range
$2,745
1$2,7452$2,8503$2,9954$3,5005$4,460
$4,460
RENT COMPS ANALYSIS
  • 8137 Sweetwater Creek Way Las Vegas, NV 5
    • 4 beds 4 baths ∙ 4,190 Sqft ∙ Built 2015 4 beds 4 baths ∙ 4,190 Sqft ∙ Built 2015
    • Rent
    • Rent Per SQFT
    •  
    • $4,460
    • $1.06
    •  
  • 301 Arbour Garden Avenue Las Vegas, NV 1
    • 5 beds 3 baths ∙ 4,108 Sqft ∙ Built 2001 5 beds 3 baths ∙ 4,108 Sqft ∙ Built 2001
    LEASED 07/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,745
    • $0.67
    •  
  • 93 Chateau Whistler Court Las Vegas, NV 2
    • 5 beds 3 baths ∙ 4,108 Sqft ∙ Built 2001 5 beds 3 baths ∙ 4,108 Sqft ∙ Built 2001
    LEASED 01/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,850
    • $0.69
    •  
  • 133 Crooked Putter Drive Las Vegas, NV 3
    • 5 beds 5 baths ∙ 4,117 Sqft ∙ Built 2007 5 beds 5 baths ∙ 4,117 Sqft ∙ Built 2007
    LEASED 10/09/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,995
    • $0.73
    •  
  • 121 Hazelmere Las Vegas, NV 4
    • 5 beds 4 baths ∙ 4,108 Sqft ∙ Built 2001 5 beds 4 baths ∙ 4,108 Sqft ∙ Built 2001
    LEASED 04/25/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,500
    • $0.85
    •  
PROPERTY LISTING DETAILS
Kris E Kaye
1.702.574.9212
Petra Realty Group
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2223672
Last Updated: 08/22/2020
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