Work with a dedicated Real Estate Advisor who will take your financial preferences and help you select and acquire properties that fit your criteria. Learn more

8169 Dracopus Avenue Las Vegas, NV 89113

4 Beds 3 Baths 1,759 sqft Built 2003

$325,000

List Price

$1,630

$1.5K - $1.8K

Rent Est.

PROPERTY INFO

December 17, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2003
  • Price/Sqft : $184.76
  • 5 Days on Market
  • MLS # : 2254944
  • Updated Date : 12/18/2020 at 14:30
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,759 sqft
  • Baths : 2 full , 1 half
Listing Agent

Elite Realty

Listing Agent's Description

Spring Valley location - Hacienda to the Strip good curb appeal Great Condition throughout. Garage floor epoxied pro. Floors downstairs tiled upstairs wood. Four bedroom home priced right. Back patio 940 sq ft terra-cota tile in perfect shape with a full cover to match the house. Corner lot and original owner. This one is listed right! Look for notice of Open House. Compliant with COVID -19 regulations.

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: Spring Valley

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280kPrice in $119k296k

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

Neighborhood: Spring Valley

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2105011001150120012501300135014001450150015501600Rent in $10381606

* 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
Lucille Rogers Elementary School Primary Regular 775 43 9
Grant Sawyer Middle School Middle Regular 1,308 52 NA
Durango High School High Regular 2,302 95 5

Lucille Rogers Elementary School

  • Education Level: Primary
  • # of students: 775
  • # of teachers: 43
9
GreatSchools Rating

Grant Sawyer Middle School

  • Education Level: Middle
  • # of students: 1,308
  • # of teachers: 52
NA
GreatSchools Rating

Durango High School

  • Education Level: High
  • # of students: 2,302
  • # of teachers: 95
5
GreatSchools Rating
 

$292,500$357,500$325,000

PURCHASE PRICE

$1,467$1,793$1,630

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,630
EXPENSES Loan Payment -$1,199
Property Tax -$204
Property Insurance -$61
Property Management Fees -$119
CASH FLOW
$47

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.

$325,000

PROJECTED PRICE

$1,630

PROJECTED RENT

0.50%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.96%
Appreciation Year (1-5) 9.9%
Maintenance Year (1-5) 8.00%
Vacancy 7.63%
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$91,875

INVESTMENT

$91,875

Down Payment
$81,250
Rehab Estimate
$5,750
Closing Costs
$4,875

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,199

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $81,250
Loan Amount $243,750
See What Happens When You Reinvest Cash Flow

6.67

YEARS SAVED

$30,613

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,630

    LIST RENT
  • $0.93

    LIST RENT PER SQFT
  • $1,623

    COMP ESTIMATED VALUE
  • $0.92

    COMP AVG. RENT PER SQFT
Comps Range
$1,400
1$1,4002$1,4003$1,4504$1,6255$1,630
$1,630
RENT COMPS ANALYSIS
  • 8169 Dracopus Avenue Las Vegas, NV 5
    • 4 beds 3 baths ∙ 1,759 Sqft ∙ Built 2003 4 beds 3 baths ∙ 1,759 Sqft ∙ Built 2003
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,630
    • $0.93
    •  
  • 5495 Night Swim Lane Las Vegas, NV 1
    • 3 beds 2 baths ∙ 1,595 Sqft ∙ Built 1994 3 beds 2 baths ∙ 1,595 Sqft ∙ Built 1994
    property image
    LEASED 02/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,400
    • $0.88
    •  
  • 5460 Morning Swim Las Vegas, NV 2
    • 3 beds 2 baths ∙ 1,594 Sqft ∙ Built 1994 3 beds 2 baths ∙ 1,594 Sqft ∙ Built 1994
    property image
    LEASED 04/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,400
    • $0.88
    •  
  • 5432 Morning Swim Lane #n/a Las Vegas, NV 3
    • 3 beds 2 baths ∙ 1,595 Sqft ∙ Built 1994 3 beds 2 baths ∙ 1,595 Sqft ∙ Built 1994
    property image
    LEASED 04/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $0.91
    •  
  • 5438 Olympic Spirit Lane Las Vegas, NV 4
    • 3 beds 2 baths ∙ 1,594 Sqft ∙ Built 1994 3 beds 2 baths ∙ 1,594 Sqft ∙ Built 1994
    property image
    LEASED 11/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,625
    • $1.02
    •  
PROPERTY LISTING DETAILS
Paul D Sweeney
1.702.768.7361
Elite Realty
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2254944
Last Updated: 12/18/2020
BESbswy