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8176 Dracopus Avenue Las Vegas, NV 89113

4 Beds 3 Baths 1,759 sqft Built 2003

$338,000

List Price

$1,650

$1.5K - $1.8K

Rent Est.

PROPERTY INFO

January 18, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2003
  • Price/Sqft : $192.15
  • 8 Days on Market
  • MLS # : 2262289
  • Updated Date : 01/20/2021 at 19:26
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,759 sqft
  • Baths : 2 full , 1 half
Listing Agent

Life Realty District

Listing Agent's Description

Great location. Open floor plan. Spacious with 4 bedroom.Tile floor downstairs, granite kitchen counter top, kitchen island, upgraded kitchen cabinets. Laminated wood floor upstairs,Covered patio .Contact us for 3D virtual tour

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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)

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
 

$304,200$371,800$338,000

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 -$1,174
Property Tax -$207
Property Insurance -$61
Property Management Fees -$119
CASH FLOW
$89

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.

$338,000

PROJECTED PRICE

$1,650

PROJECTED RENT

0.49%

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$1.4M

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$1.2M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$95,320

INVESTMENT

$95,320

Down Payment
$84,500
Rehab Estimate
$5,750
Closing Costs
$5,070

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,174

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $84,500
Loan Amount $253,500
See What Happens When You Reinvest Cash Flow

7.33

YEARS SAVED

$30,307

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
  • $0.94

    LIST RENT PER SQFT
  • $1,636

    COMP ESTIMATED VALUE
  • $0.93

    COMP AVG. RENT PER SQFT
Comps Range
$1,400
1$1,4002$1,4503$1,5704$1,6505$1,695
$1,695
RENT COMPS ANALYSIS
  • 8176 Dracopus Avenue Las Vegas, NV 4
    • 4 beds 3 baths ∙ 1,759 Sqft ∙ Built 2003 4 beds 3 baths ∙ 1,759 Sqft ∙ Built 2003
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.94
    •  
  • 5460 Morning Swim Las Vegas, NV 1
    • 3 beds 2 baths ∙ 1,594 Sqft ∙ Built 1994 3 beds 2 baths ∙ 1,594 Sqft ∙ Built 1994
    LEASED 04/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,400
    • $0.88
    •  
  • 5432 Morning Swim Lane #n/a Las Vegas, NV 2
    • 3 beds 2 baths ∙ 1,595 Sqft ∙ Built 1994 3 beds 2 baths ∙ 1,595 Sqft ∙ Built 1994
    LEASED 04/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $0.91
    •  
  • 7967 Narnia Avenue Las Vegas, NV 3
    • 4 beds 3 baths ∙ 1,619 Sqft ∙ Built 2012 4 beds 3 baths ∙ 1,619 Sqft ∙ Built 2012
    LEASED 02/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,570
    • $0.97
    •  
  • 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
    LEASED 01/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $0.96
    •  
PROPERTY LISTING DETAILS
Nancy Chen
1.702.758.3798
Life Realty District
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2262289
Last Updated: 01/20/2021
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