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8217 Dolphin Bay Court Las Vegas, NV 89128

3 Beds 2 Baths 1,607 sqft Built 1989

$357,000

List Price

$1,670

$1.5K - $1.8K

Rent Est.

PROPERTY INFO

February 10, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1989
  • Price/Sqft : $222.15
  • 5 Days on Market
  • MLS # : 2265898
  • Updated Date : 02/12/2021 at 23:44
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,607 sqft
  • Baths : 2 full
Listing Agent

Nexthome Community Real Estate

Listing Agent's Description

ONE OF A KIND Desert Shores STUNNER!!!!! Fully remodeled single story that's certain to knock your socks off all while being steps away from the lakes that make Desert Shores Special!!!! Extensive renovations include: No more "pop-corn" ceilings, Fully remodeled/Brand New Kitchen, Fully remodeled BRAND NEW Master Bath... The sellers really didn't spare any expense on this home. Walls were opened to expose the stunning Kitchen w/ New cabinets, New island, New counters & Undermount granite sink to the dining area that boasts nothing but natural light! These two spaces are so inviting yet so functional. Now take a stroll to the backyard where you'll find a stunning landscaped backyard w/ 3/4 length shade structure, REAL GRASS, mature landscaping & wait for it..... an elevated seating area that gives you UNOBSTRUCTED VIEWS of the LAKE!!!! You'll have to see the incredible SPA LIKE Master Bath in person since there's truly not enough character left to explain this home in words!! =)

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MARKET HIGHLIGHTS

  • 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)
  • 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)

PRICE & RENT TRENDS

Neighborhood: Desert Shores

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320k340k360kPrice in $119k362k

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

Neighborhood: Desert Shores

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2110012001300140015001600170018001900Rent in $10761945

* 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
Dorothy Eisenberg Elementary School Primary Regular 609 33 6
Ernest Becker Middle School Middle Regular 1,392 56 NA
Cimarron Memorial High School High Regular 2,541 102 3

Dorothy Eisenberg Elementary School

  • Education Level: Primary
  • # of students: 609
  • # of teachers: 33
6
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
 

$321,300$392,700$357,000

PURCHASE PRICE

$1,503$1,837$1,670

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,670
EXPENSES Loan Payment -$1,240
Property Tax -$197
Property Insurance -$58
Property Management Fees -$119
CASH FLOW
$55

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.

$357,000

PROJECTED PRICE

$1,670

PROJECTED RENT

0.47%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.05%
Appreciation Year (1-5) 8.5%
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$20k

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$100,355

INVESTMENT

$100,355

Down Payment
$89,250
Rehab Estimate
$5,750
Closing Costs
$5,355

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 45% down payment or higher enables the proceeds from the asset to cover all costs.

$1,240

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $89,250
Loan Amount $267,750
See What Happens When You Reinvest Cash Flow

6.67

YEARS SAVED

$29,239

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,670

    LIST RENT
  • $1.04

    LIST RENT PER SQFT
  • $1,667

    COMP ESTIMATED VALUE
  • $1.04

    COMP AVG. RENT PER SQFT
Comps Range
$1,600
1$1,6002$1,6703$1,7894$1,7955$1,800
$1,800
RENT COMPS ANALYSIS
  • 8217 Dolphin Bay Court Las Vegas, NV 2
    • 3 beds 2 baths ∙ 1,607 Sqft ∙ Built 1989 3 beds 2 baths ∙ 1,607 Sqft ∙ Built 1989
    • Rent
    • Rent Per SQFT
    •  
    • $1,670
    • $1.04
    •  
  • 8332 Shore Breeze Drive Las Vegas, NV 1
    • 3 beds 3 baths ∙ 1,597 Sqft ∙ Built 1989 3 beds 3 baths ∙ 1,597 Sqft ∙ Built 1989
    LEASED 12/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $1.00
    •  
  • 8436 Sea Glen Drive Las Vegas, NV 3
    • 3 beds 2 baths ∙ 1,720 Sqft ∙ Built 1993 3 beds 2 baths ∙ 1,720 Sqft ∙ Built 1993
    LEASED 01/07/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,789
    • $1.04
    •  
  • 2408 Elliot Key Drive Las Vegas, NV 4
    • 3 beds 2 baths ∙ 1,735 Sqft ∙ Built 1993 3 beds 2 baths ∙ 1,735 Sqft ∙ Built 1993
    LEASED 01/03/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,795
    • $1.03
    •  
  • 8316 Dorado Bay Court #0 Las Vegas, NV 5
    • 3 beds 2 baths ∙ 1,663 Sqft ∙ Built 1990 3 beds 2 baths ∙ 1,663 Sqft ∙ Built 1990
    LEASED 01/26/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $1.08
    •  
PROPERTY LISTING DETAILS
Falisha Rexford
1.702.236.4249
Nexthome Community Real Estate
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2265898
Last Updated: 02/12/2021
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