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8212 Paseo Vista Drive Las Vegas, NV 89128

3 Beds 3 Baths 2,863 sqft Built 1995

INVESTimate

$540,000

List Price

$2,300

$2,070 - $2,530

Rent Est.

$587,574  ( +8.81%)   1 YR EST. FORECAST

PROPERTY INFO

FACTS
  • Built In 1995
  • Price/Sqft : $188.61
  • 11 Days on Market
  • MLS # : 2222493
  • Updated Date : 08/18/2020 at 16:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,863 sqft
  • Baths : 3 full
Listing Agent

1st Priority Realty, Llc

Listing Agent's Description

Beautifully upgraded Summerlin home in gated community! Features private pool, ceramic tile in entry, vaulted ceiling, spacious den and full bath downstairs, courtyard, island in kitchen, spacious laundry room with counter, tons of storage and sink. Spare bedrooms upstairs with jack and jill bath. Large walk in closet in master.

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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: The Pueblo

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300kPrice in $119k316k

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

Neighborhood: The Pueblo

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2110012001300140015001600170018001900Rent in $10761921

* 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
Richard H Bryan Elementary School Primary Regular 617 32 8
Ernest Becker Middle School Middle Regular 1,392 56 NA
Cimarron Memorial High School High Regular 2,541 102 3

Richard H Bryan Elementary School

  • Education Level: Primary
  • # of students: 617
  • # of teachers: 32
8
GreatSchools Rating

Ernest Becker Middle School

  • Education Level: Middle
  • # of students: 1,392
  • # of teachers: 56
NA
GreatSchools Rating

Cimarron Memorial High School

  • Education Level: High
  • # of students: 2,541
  • # of teachers: 102
3
GreatSchools Rating
 

$486,000$594,000$540,000

PURCHASE PRICE

$2,070$2,530$2,300

RENT

DOWN PAYMENT
FINANCING

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$1.8M

PROJECTED ANNUAL CASH FLOW

11530-$10k-$5.0k$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$1.4M$1.6M$1.8M

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,300
EXPENSES Loan Payment -$1,992
Property Tax -$397
Property Insurance -$83
HOA -$92
Property Management Fees -$119
CASH FLOW
-$383

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.

$540,000

PROJECTED PRICE

$2,300

PROJECTED RENT

0.43%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.96%
Appreciation Year (1-5) 8.81%
Maintenance Year (1-5) 8.00%
Vacancy 7.63%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$148,850

INVESTMENT

$148,850

Down Payment
$135,000
Rehab Estimate
$5,750
Closing Costs
$8,100

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 60% down payment or higher enables the proceeds from the asset to cover all costs.

$1,992

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $135,000
Loan Amount $405,000
See What Happens When You Reinvest Cash Flow

2.25

YEARS SAVED

$10,003

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,300

    LIST RENT
  • $0.8

    LIST RENT PER SQFT
  • $2,305

    COMP ESTIMATED VALUE
  • $0.81

    COMP AVG. RENT PER SQFT
Comps Range
$2,100
1$2,1002$2,1003$2,2754$2,3005$2,500
$2,500
RENT COMPS ANALYSIS
  • 8212 Paseo Vista Drive Las Vegas, NV 4
    • 3 beds 3 baths ∙ 2,863 Sqft ∙ Built 1995 3 beds 3 baths ∙ 2,863 Sqft ∙ Built 1995
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $0.80
    •  
  • 1909 Sedona Paseo Lane Las Vegas, NV 1
    • 4 beds 3 baths ∙ 2,720 Sqft ∙ Built 1996 4 beds 3 baths ∙ 2,720 Sqft ∙ Built 1996
    property image
    LEASED 03/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $0.77
    •  
  • 1656 Royal Canyon Drive Las Vegas, NV 2
    • 4 beds 3 baths ∙ 2,722 Sqft ∙ Built 1994 4 beds 3 baths ∙ 2,722 Sqft ∙ Built 1994
    property image
    LEASED 07/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $0.77
    •  
  • 8248 Paseo Vista Drive Las Vegas, NV 3
    • 3 beds 3 baths ∙ 2,863 Sqft ∙ Built 1995 3 beds 3 baths ∙ 2,863 Sqft ∙ Built 1995
    property image
    LEASED 04/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,275
    • $0.79
    •  
  • 1808 Madera Canyon Place Las Vegas, NV 5
    • 3 beds 2 baths ∙ 2,806 Sqft ∙ Built 1994 3 beds 2 baths ∙ 2,806 Sqft ∙ Built 1994
    property image
    LEASED 03/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $0.89
    •  
PROPERTY LISTING DETAILS
Nancy I Chow
1.702.582.8215
1st Priority Realty, Llc
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2222493
Last Updated: 08/18/2020
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