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8208 Misty Island Circle Las Vegas, NV 89145

3 Beds 3 Baths 1,567 sqft Built 1992

$319,000

List Price

$1,460

$1.3K - $1.6K

Rent Est.

PROPERTY INFO

FACTS
  • Built In 1992
  • Price/Sqft : $203.57
  • 19 Days on Market
  • MLS # : 2239815
  • Updated Date : 11/02/2020 at 11:17
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,567 sqft
  • Baths : 2 full , 1 half
Listing Agent

Realty One Group, Inc

Listing Agent's Description

What a delight to Walk into! Fully renovated Cul-de-Sac Home with NO ASSOCIATION FEE! Tons of natural light, Brand New Flooring, Carpeting Upstairs Only, Brand New White Cabinets, Quartz Counters, Espresso Hardware in Kitchen and All Baths! Kohler Sink and Faucet, New Paint Inside and Out, White Stone Fireplace with Espresso Mantle, Two-Story Great Room, Kitchen with Huge Pantry open to Dining Area, Primary Bed Seperate from Sec Rooms, Master Bath has Dual Undermount Sinks, Seperate Laundry Room, Step out into the Nice Size Private Yard, Well kept with Real Grass!

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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)

PRICE & RENT TRENDS

Neighborhood: Angel Park Lindell

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260k280kPrice in $91k296k

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

Neighborhood: Angel Park Lindell

NeighborhoodNIR Market*CityMarket2010Year20002019 Q29501000105011001150120012501300135014001450150015501600Rent in $9111606

* 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
Walter Jacobson Elementary School Primary Regular 592 32 7
Walter Johnson Junior High School Middle Regular 1,102 50 NA
Bonanza High School High Regular 2,003 83 3

Walter Jacobson Elementary School

  • Education Level: Primary
  • # of students: 592
  • # of teachers: 32
7
GreatSchools Rating

Walter Johnson Junior High School

  • Education Level: Middle
  • # of students: 1,102
  • # of teachers: 50
NA
GreatSchools Rating

Bonanza High School

  • Education Level: High
  • # of students: 2,003
  • # of teachers: 83
3
GreatSchools Rating
 

$287,100$350,900$319,000

PURCHASE PRICE

$1,314$1,606$1,460

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,460
EXPENSES Loan Payment -$1,177
Property Tax -$178
Property Insurance -$58
Property Management Fees -$119
CASH FLOW
-$72

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.

$319,000

PROJECTED PRICE

$1,460

PROJECTED RENT

0.46%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.96%
Appreciation Year (1-5) 11.1%
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

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$90,285

INVESTMENT

$90,285

Down Payment
$79,750
Rehab Estimate
$5,750
Closing Costs
$4,785

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 50% down payment or higher enables the proceeds from the asset to cover all costs.

$1,177

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $79,750
Loan Amount $239,250
See What Happens When You Reinvest Cash Flow

5

YEARS SAVED

$18,886

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,460

    LIST RENT
  • $0.93

    LIST RENT PER SQFT
  • $1,591

    COMP ESTIMATED VALUE
  • $1.02

    COMP AVG. RENT PER SQFT
Comps Range
$1,375
1$1,3752$1,3953$1,4604$1,5005$1,650
$1,650
RENT COMPS ANALYSIS
  • 8208 Misty Island Circle Las Vegas, NV 3
    • 3 beds 3 baths ∙ 1,567 Sqft ∙ Built 1992 3 beds 3 baths ∙ 1,567 Sqft ∙ Built 1992
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,460
    • $0.93
    •  
  • 8108 Mt Royal Court #0 Las Vegas, NV 1
    • 3 beds 2 baths ∙ 1,402 Sqft ∙ Built 1990 3 beds 2 baths ∙ 1,402 Sqft ∙ Built 1990
    property image
    LEASED 04/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,375
    • $0.98
    •  
  • 8113 Mt Harris Court Las Vegas, NV 2
    • 3 beds 2 baths ∙ 1,402 Sqft ∙ Built 1990 3 beds 2 baths ∙ 1,402 Sqft ∙ Built 1990
    property image
    LEASED 07/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,395
    • $1.00
    •  
  • 8120 Mt Harris Court Las Vegas, NV 4
    • 3 beds 3 baths ∙ 1,457 Sqft ∙ Built 1990 3 beds 3 baths ∙ 1,457 Sqft ∙ Built 1990
    property image
    LEASED 01/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $1.03
    •  
  • 8257 Illusion Court Las Vegas, NV 5
    • 3 beds 3 baths ∙ 1,567 Sqft ∙ Built 1994 3 beds 3 baths ∙ 1,567 Sqft ∙ Built 1994
    property image
    LEASED 01/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $1.05
    •  
PROPERTY LISTING DETAILS
Bridgette M Dupont-sarti
1.702.768.8821
Realty One Group, Inc
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2239815
Last Updated: 11/02/2020
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