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8159 Misty Horizon Court Las Vegas, NV 89113

3 Beds 3 Baths 1,744 sqft Built 2009

$320,000

List Price

$1,650

$1.5K - $1.8K

Rent Est.

PROPERTY INFO

FACTS
  • Single Family
  • Built In 2009
  • Price/Sqft : $183.49
  • 16 Days on Market
  • MLS # : 2264211
  • Updated Date : 02/03/2021 at 22:52
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,744 sqft
  • Baths : 2 full , 1 half
Listing Agent

Keller Williams Market Place

Listing Agent's Description

*AMAZING 2 STORY HOME LOCATED IN WELL DESIRED AREA*LOW HOA FEES IS A PLUS*2 CAR GARAGE*LOW MAINTENANCE DESERT LANDSCAPING IN FRONT*LARGE OPEN FLOORPLAN WITH TONS OF NATURAL LIGHTING*HOME HAS 3 BEDROOMS WITH 3 BATHROOMS*KITCHEN WITH BREAKFAST BAR/COUNTER, EATING AREA, GRANITE COUNTERTOPS, ISLAND, RECESSED LIGHTING, PANTRY & TILE FLOORING*WASHER AND DRYER LOCATED ON SECOND FLOOR IN SEPARATE LAUNDRY ROOM*LARGE MASTER BEDROOM LOCATED UPSTAIRS WITH WALK IN CLOSET*HOME DOES HAVE LOFT THAT COULD BE USED AS FAMILY ROOM*OPEN BACKYARD WITH ROOM FOR ENTERTAINMENT*SOLAR PANELS*GARAGE DOOR HAS BEEN REPLACED WITH A LIFETIME WARRANTY*

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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
 

$288,000$352,000$320,000

PURCHASE PRICE

$1,485$1,815$1,650

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,650
EXPENSES Loan Payment -$1,111
Property Tax -$224
Property Insurance -$61
Property Management Fees -$119
CASH FLOW
$134

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.

$320,000

PROJECTED PRICE

$1,650

PROJECTED RENT

0.52%

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$200k$400k$600k$800k$1.0M$1.2M

PROJECTED ANNUAL CASH FLOW

11530$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$90,550

INVESTMENT

$90,550

Down Payment
$80,000
Rehab Estimate
$5,750
Closing Costs
$4,800

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 40% down payment or higher enables the proceeds from the asset to cover all costs.

$1,111

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $80,000
Loan Amount $240,000
See What Happens When You Reinvest Cash Flow

8.08

YEARS SAVED

$33,764

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,650

    LIST RENT
  • $0.95

    LIST RENT PER SQFT
  • $1,670

    COMP ESTIMATED VALUE
  • $0.96

    COMP AVG. RENT PER SQFT
Comps Range
$1,550
1$1,5502$1,5953$1,5954$1,6505$1,700
$1,700
RENT COMPS ANALYSIS
  • 8159 Misty Horizon Court Las Vegas, NV 4
    • 3 beds 3 baths ∙ 1,744 Sqft ∙ Built 2009 3 beds 3 baths ∙ 1,744 Sqft ∙ Built 2009
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.95
    •  
  • 8133 Moonlight Meadows Street #n/a Las Vegas, NV 1
    • 4 beds 3 baths ∙ 1,664 Sqft ∙ Built 2007 4 beds 3 baths ∙ 1,664 Sqft ∙ Built 2007
    LEASED 01/06/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $0.93
    •  
  • 8066 Chocolate Hills Court Las Vegas, NV 2
    • 3 beds 3 baths ∙ 1,760 Sqft ∙ Built 2015 3 beds 3 baths ∙ 1,760 Sqft ∙ Built 2015
    LEASED 06/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $0.91
    •  
  • 7609 Pallon Avenue #0 Las Vegas, NV 3
    • 3 beds 2 baths ∙ 1,650 Sqft ∙ Built 2007 3 beds 2 baths ∙ 1,650 Sqft ∙ Built 2007
    LEASED 09/25/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $0.97
    •  
  • 8171 Misty Horizon Court Las Vegas, NV 5
    • 4 beds 3 baths ∙ 1,663 Sqft ∙ Built 2009 4 beds 3 baths ∙ 1,663 Sqft ∙ Built 2009
    LEASED 01/01/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $1.02
    •  
PROPERTY LISTING DETAILS
Richard J Brenkus
1.702.456.5959
Keller Williams Market Place
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2264211
Last Updated: 02/03/2021
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