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8212 Spanish Meadows Avenue Las Vegas, NV 89131

2 Beds 2 Baths 1,764 sqft Built 2001

$350,000

List Price

$1,640

$1.5K - $1.8K

Rent Est.

PROPERTY INFO

January 09, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2001
  • Price/Sqft : $198.41
  • 2 Days on Market
  • MLS # : 2259912
  • Updated Date : 01/09/2021 at 18:12
CONSTRUCTION
  • Beds : 2
  • Floor Size : 1,764 sqft
  • Baths : 2 full
Listing Agent

Coldwell Banker Premier

Listing Agent's Description

LOCATION LOCATION LOCATION! In this hidden oasis lies a picturesque single story home which offers a unique and quiet backyard perfect for relaxation. Carpets were recently replaced and wall to wall paint was recently done. It is hard to find another property like this at this price. Schedule your tour now!

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: Four Winds

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320k340k360k380kPrice in $119k396k

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

Neighborhood: Four Winds

NeighborhoodNIR Market*CityMarket2010Year20002019 Q211001200130014001500160017001800Rent in $10761875

* 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
Thomas O'roarke Elementary School Primary Regular 817 42 9
Ralph Cadwallader Middle School Middle Regular 1,480 63 NA
Arbor View High School High Regular 2,878 116 9

Thomas O'roarke Elementary School

  • Education Level: Primary
  • # of students: 817
  • # of teachers: 42
9
GreatSchools Rating

Ralph Cadwallader Middle School

  • Education Level: Middle
  • # of students: 1,480
  • # of teachers: 63
NA
GreatSchools Rating

Arbor View High School

  • Education Level: High
  • # of students: 2,878
  • # of teachers: 116
9
GreatSchools Rating
 

$315,000$385,000$350,000

PURCHASE PRICE

$1,476$1,804$1,640

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,640
EXPENSES Loan Payment -$1,216
Property Tax -$245
Property Insurance -$61
Property Management Fees -$119
CASH FLOW
-$1

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.

$350,000

PROJECTED PRICE

$1,640

PROJECTED RENT

0.47%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.05%
Appreciation Year (1-5) 7.1%
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

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$98,500

INVESTMENT

$98,500

Down Payment
$87,500
Rehab Estimate
$5,750
Closing Costs
$5,250

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,216

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $87,500
Loan Amount $262,500
See What Happens When You Reinvest Cash Flow

5.75

YEARS SAVED

$22,817

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,640

    LIST RENT
  • $0.93

    LIST RENT PER SQFT
  • $1,429

    COMP ESTIMATED VALUE
  • $0.81

    COMP AVG. RENT PER SQFT
Comps Range
$1,399
1$1,3992$1,4003$1,4754$1,5505$1,640
$1,640
RENT COMPS ANALYSIS
  • 8212 Spanish Meadows Avenue Las Vegas, NV 5
    • 3 beds 2 baths ∙ 1,764 Sqft ∙ Built 2001 3 beds 2 baths ∙ 1,764 Sqft ∙ Built 2001
    • Rent
    • Rent Per SQFT
    •  
    • $1,640
    • $0.93
    •  
  • 8223 Amtrak Express Avenue Las Vegas, NV 1
    • 3 beds 3 baths ∙ 1,751 Sqft ∙ Built 2009 3 beds 3 baths ∙ 1,751 Sqft ∙ Built 2009
    LEASED 01/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,399
    • $0.80
    •  
  • 8270 Amtrak Express Avenue Las Vegas, NV 2
    • 3 beds 3 baths ∙ 1,751 Sqft ∙ Built 2009 3 beds 3 baths ∙ 1,751 Sqft ∙ Built 2009
    LEASED 01/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,400
    • $0.80
    •  
  • 8036 Eurostar Street Las Vegas, NV 3
    • 3 beds 3 baths ∙ 1,751 Sqft ∙ Built 2005 3 beds 3 baths ∙ 1,751 Sqft ∙ Built 2005
    LEASED 08/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,475
    • $0.84
    •  
  • 8420 Twinkling Topaz Avenue Las Vegas, NV 4
    • 3 beds 3 baths ∙ 1,930 Sqft ∙ Built 2000 3 beds 3 baths ∙ 1,930 Sqft ∙ Built 2000
    LEASED 01/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $0.80
    •  
PROPERTY LISTING DETAILS
Clark Andrew Kiat-ong
1.702.806.7192
Coldwell Banker Premier
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2259912
Last Updated: 01/09/2021
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