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818 Lacy Lane Las Vegas, NV 89107

5 Beds 3 Baths 3,474 sqft Built 1973

$625,000

List Price

$3,470

$3.2K - $3.7K

Rent Est.

PROPERTY INFO

December 19, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1973
  • Price/Sqft : $179.91
  • 3 Days on Market
  • MLS # : 2256533
  • Updated Date : 12/19/2020 at 02:30
CONSTRUCTION
  • Beds : 5
  • Floor Size : 3,474 sqft
  • Baths : 3 full
Listing Agent

Luxe Estates & Lifestyles Llc

Listing Agent's Description

Ready to become your dream home. This house has been prepped to be molded as you'd like or redone in the Vintage Vegas style it once was. Double sided fireplace on the main floor extends up to the master. Main level has an area for a wet bar and area for a kitchen island. Upstairs is a spacious walk in closet. Master has en suite bathroom. Backyard features 12' deep pool, spa, built in BBQ, basketball court and tennis court. Double garage with pull through to 3rd garage and workshop. RV gate.

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: Palomino Area

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450k500kPrice in $119k529k

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

Neighborhood: Palomino Area

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21100120013001400150016001700180019002000Rent in $10762031

* 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
Howard Wasden Elementary School Primary Regular 632 36 3
Hyde Park Middle School Middle Magnet 1,699 69 NA
Ed W. Clark High School High Magnet 3,066 129 7

Howard Wasden Elementary School

  • Education Level: Primary
  • # of students: 632
  • # of teachers: 36
3
GreatSchools Rating

Hyde Park Middle School

  • Education Level: Middle
  • # of students: 1,699
  • # of teachers: 69
NA
GreatSchools Rating

Ed W. Clark High School

  • Education Level: High
  • # of students: 3,066
  • # of teachers: 129
7
GreatSchools Rating
 

$562,500$687,500$625,000

PURCHASE PRICE

$3,123$3,817$3,470

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,470
EXPENSES Loan Payment -$2,306
Property Tax -$289
Property Insurance -$94
Property Management Fees -$119
CASH FLOW
$661

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.

$625,000

PROJECTED PRICE

$3,470

PROJECTED RENT

0.56%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.05%
Appreciation Year (1-5) 7.4%
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$500k$1.0M$1.5M$2.0M$2.5M

PROJECTED ANNUAL CASH FLOW

11530$0.0$10k$20k$30k$40k$50k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$500k$1.0M$1.5M$2.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$171,375

INVESTMENT

$171,375

Down Payment
$156,250
Rehab Estimate
$5,750
Closing Costs
$9,375

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 30% down payment or higher enables the proceeds from the asset to cover all costs.

$2,306

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $156,250
Loan Amount $468,750
See What Happens When You Reinvest Cash Flow

11.58

YEARS SAVED

$130,057

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,470

    LIST RENT
  • $1

    LIST RENT PER SQFT
  • $3,416

    COMP ESTIMATED VALUE
  • $0.98

    COMP AVG. RENT PER SQFT
Comps Range
$3,000
1$3,0002$3,2883$3,4704$3,500
$3,500
RENT COMPS ANALYSIS
  • 818 Lacy Lane Las Vegas, NV 3
    • 5 beds 3 baths ∙ 3,474 Sqft ∙ Built 1973 5 beds 3 baths ∙ 3,474 Sqft ∙ Built 1973
    • Rent
    • Rent Per SQFT
    •  
    • $3,470
    • $1.00
    •  
  • 2310 South Llewellyn Drive Las Vegas, NV 1
    • 4 beds 3 baths ∙ 3,154 Sqft ∙ Built 1961 4 beds 3 baths ∙ 3,154 Sqft ∙ Built 1961
    LEASED 02/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,000
    • $0.95
    •  
  • 2000 Plaza De Cielo Las Vegas, NV 2
    • 4 beds 3 baths ∙ 3,363 Sqft ∙ Built 1977 4 beds 3 baths ∙ 3,363 Sqft ∙ Built 1977
    LEASED 01/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,288
    • $0.98
    •  
  • 1555 Duneville Street Las Vegas, NV 4
    • 4 beds 3 baths ∙ 3,448 Sqft ∙ Built 1980 4 beds 3 baths ∙ 3,448 Sqft ∙ Built 1980
    LEASED 09/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,500
    • $1.02
    •  
PROPERTY LISTING DETAILS
Nicole Knoke
1.702.501.5300
Luxe Estates & Lifestyles Llc
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2256533
Last Updated: 12/19/2020
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