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8197 Riley Love Street Las Vegas, NV 89139

3 Beds 2 Baths 1,933 sqft Built 2017

$460,000

List Price

$1,650

$1.5K - $1.8K

Rent Est.

PROPERTY INFO

November 10, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2017
  • Price/Sqft : $237.97
  • 7 Days on Market
  • MLS # : 2247116
  • Updated Date : 11/12/2020 at 09:16
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,933 sqft
  • Baths : 2 full
Listing Agent

City Villa Realty & Management

Listing Agent's Description

A spacious & highly upgarded lovely house nestled in a very quiet all 1 story gated community, with close proximity to shopping, dining, gym, etc. A desirable location in the SW. Your buyers will fall in love with the upgrades that comes in this 2.5 year old house - h2O resistant laminate wood flooring on the entire house, 10 ft ceiling, ugraded white cabinets, quartz countertop, huge island in the kitchen, stainless steel fridge, double oven and range, backsplash, Living Room has an accent wall, all window converings in the house comes with custom double roller shades, upgraded 12 ft sliding doors leads to the relaxing backyard that is partly paved and synthetic grass & comes with a fire pit. Master's Bedroom's closet comes with custom cabinets. Garage has epoxy flooring and full cabinets. Pavered driveway. Laundry Room comes with cabintes too. Water Softener, Fridge & Security Alarm System will stay. You will not regret showing this house to your Buyers.

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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: 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
Dr. Beverly S. Mathis Elementary School Primary Unknown NA
Lawrence And Heidi Canarelli Middle School Middle Regular 1,802 70 NA
Desert Oasis High School High Regular 2,417 102 5

Dr. Beverly S. Mathis Elementary School

  • Education Level: Primary
  • # of students:
  • # of teachers:
NA
GreatSchools Rating

Lawrence And Heidi Canarelli Middle School

  • Education Level: Middle
  • # of students: 1,802
  • # of teachers: 70
NA
GreatSchools Rating

Desert Oasis High School

  • Education Level: High
  • # of students: 2,417
  • # of teachers: 102
5
GreatSchools Rating
 

$414,000$506,000$460,000

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 -$1,697
Property Tax -$306
Property Insurance -$65
Property Management Fees -$119
CASH FLOW
-$537

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.

$460,000

PROJECTED PRICE

$1,650

PROJECTED RENT

0.36%

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$1.4M$1.6M

PROJECTED ANNUAL CASH FLOW

11530-$10k-$5.0k$0.0$5.0k$10k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M$1.6M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$127,650

INVESTMENT

$127,650

Down Payment
$115,000
Rehab Estimate
$5,750
Closing Costs
$6,900

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,697

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $115,000
Loan Amount $345,000
See What Happens When You Reinvest Cash Flow

0.83

YEARS SAVED

$1,792

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
  • $0.85

    LIST RENT PER SQFT
  • $1,682

    COMP ESTIMATED VALUE
  • $0.87

    COMP AVG. RENT PER SQFT
Comps Range
$1,475
1$1,4752$1,4953$1,5754$1,6505$1,650
$1,650
RENT COMPS ANALYSIS
  • 8197 Riley Love Street Las Vegas, NV 5
    • 3 beds 2 baths ∙ 1,933 Sqft ∙ Built 2017 3 beds 2 baths ∙ 1,933 Sqft ∙ Built 2017
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.85
    •  
  • 5033 Vacaville Avenue Las Vegas, NV 1
    • 3 beds 3 baths ∙ 1,758 Sqft ∙ Built 2007 3 beds 3 baths ∙ 1,758 Sqft ∙ Built 2007
    LEASED 04/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,475
    • $0.84
    •  
  • 8132 Stonyford Las Vegas, NV 2
    • 3 beds 3 baths ∙ 1,758 Sqft ∙ Built 2007 3 beds 3 baths ∙ 1,758 Sqft ∙ Built 2007
    LEASED 06/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,495
    • $0.85
    •  
  • 5872 Sakhalin Avenue Las Vegas, NV 3
    • 4 beds 3 baths ∙ 1,746 Sqft ∙ Built 2004 4 beds 3 baths ∙ 1,746 Sqft ∙ Built 2004
    LEASED 11/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,575
    • $0.90
    •  
  • 7849 Juniper Forest Street Las Vegas, NV 4
    • 4 beds 3 baths ∙ 1,846 Sqft ∙ Built 2006 4 beds 3 baths ∙ 1,846 Sqft ∙ Built 2006
    LEASED 12/05/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.89
    •  
PROPERTY LISTING DETAILS
Socorro Sideco
1.702.505.1225
City Villa Realty & Management
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2247116
Last Updated: 11/12/2020
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