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8216 Aqua Spray Avenue Las Vegas, NV 89128

5 Beds 3 Baths 3,490 sqft Built 1990

$499,000

List Price

$2,410

$2.2K - $2.7K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
February 27, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1990
  • Price/Sqft : $142.98
  • 3 Days on Market
  • MLS # : 2272501
  • Updated Date : 02/28/2021 at 03:45
CONSTRUCTION
  • Beds : 5
  • Floor Size : 3,490 sqft
  • Baths : 3 full
Listing Agent

Simply Vegas

Listing Agent's Description

Coming Soon. Beautiful and spacious Tri-Level Entertainers Home in Tranquil Capri Estates. 3,490 sq. ft of space to enjoy, play and live. 5 beds w/3 full baths perfect for large family or multi-gem living. 3 car garage w/built in cabinetry* freshly painted interior* Large Master Suite w/sitting room area*oversized Master Bath w/large spa tub* dual sinks* dual walk-in closets* 3 large guest rooms w/full bath upstairs and one full bed/bath down* ceiling fans throughout* water conditioner* granite countertops* stainless appliances* stately fireplace* formal dining room* overlooking gorgeous formal living* Desert landscaping w/palm trees and paved patio to relax and entertain. Ready to move in! Don't miss out on this amazing gem located in Resort like Desert Shores Community with restaurants, private lagoon, shops, and plenty of trails throughout! This one will go fast Don't Miss Out!

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: South Shores

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320k340k360k380kPrice in $119k384k

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

Neighborhood: South Shores

NeighborhoodNIR Market*CityMarket2010Year20002019 Q211001200130014001500160017001800190020002100Rent in $10762136

* 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
 

$449,100$548,900$499,000

PURCHASE PRICE

$2,169$2,651$2,410

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,410
EXPENSES Loan Payment -$1,733
Property Tax -$291
Property Insurance -$95
Property Management Fees -$119
CASH FLOW
$172

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.

$499,000

PROJECTED PRICE

$2,410

PROJECTED RENT

0.48%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.05%
Appreciation Year (1-5) 8.0%
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$1.8M

PROJECTED ANNUAL CASH FLOW

11530$0.0$5.0k$10k$15k$20k$25k$30k

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$137,985

INVESTMENT

$137,985

Down Payment
$124,750
Rehab Estimate
$5,750
Closing Costs
$7,485

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 40% down payment or higher enables the proceeds from the asset to cover all costs.

$1,733

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $124,750
Loan Amount $374,250
See What Happens When You Reinvest Cash Flow

7.67

YEARS SAVED

$49,598

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,410

    LIST RENT
  • $0.69

    LIST RENT PER SQFT
  • $2,522

    COMP ESTIMATED VALUE
  • $0.72

    COMP AVG. RENT PER SQFT
Comps Range
$2,220
1$2,2202$2,4003$2,4104$2,5955$2,650
$2,650
RENT COMPS ANALYSIS
  • 8216 Aqua Spray Avenue Las Vegas, NV 3
    • 5 beds 3 baths ∙ 3,490 Sqft ∙ Built 1990 5 beds 3 baths ∙ 3,490 Sqft ∙ Built 1990
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,410
    • $0.69
    •  
  • 7920 Magnolia Glen Avenue #na Las Vegas, NV 1
    • 4 beds 3 baths ∙ 3,330 Sqft ∙ Built 1992 4 beds 3 baths ∙ 3,330 Sqft ∙ Built 1992
    property image
    LEASED 11/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,220
    • $0.67
    •  
  • 8433 Bay Point Drive Las Vegas, NV 2
    • 4 beds 3 baths ∙ 3,152 Sqft ∙ Built 1994 4 beds 3 baths ∙ 3,152 Sqft ∙ Built 1994
    property image
    LEASED 10/01/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,400
    • $0.76
    •  
  • 8300 Tivoli Cove Drive Las Vegas, NV 4
    • 5 beds 3 baths ∙ 3,490 Sqft ∙ Built 1990 5 beds 3 baths ∙ 3,490 Sqft ∙ Built 1990
    property image
    LEASED 02/23/21
    • Rent
    • Rent Per SQFT
    •  
    • $2,595
    • $0.74
    •  
  • 8329 Swan Lake Avenue Las Vegas, NV 5
    • 5 beds 2 baths ∙ 3,698 Sqft ∙ Built 1990 5 beds 2 baths ∙ 3,698 Sqft ∙ Built 1990
    property image
    LEASED 05/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,650
    • $0.72
    •  
PROPERTY LISTING DETAILS
Michelle Rohl-justice
1.702.609.5251
Simply Vegas
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2272501
Last Updated: 02/28/2021
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