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8220 Hot Creek Drive Las Vegas, NV 89128

2 Beds 3 Baths 1,406 sqft Built 1995

$336,900

List Price

$1,520

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

February 12, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1995
  • Price/Sqft : $239.62
  • 3 Days on Market
  • MLS # : 2269829
  • Updated Date : 02/12/2021 at 20:56
CONSTRUCTION
  • Beds : 2
  • Floor Size : 1,406 sqft
  • Baths : 2 full , 1 half
Listing Agent

Gk Properties

Listing Agent's Description

Gorgeous home located in the heart of Summerlin. Single story, 2 bedroom, 2 bath stunner is available to make your own. This home has plentiful light with high ceilings. Kitchen boasts granite countertops, stainless appliances, custom sink, and custom backsplash. Elegant 18" tile throughout. Custom sinks and granite counters in both primary ensuite and secondary bath. Immaculate backyard with covered patio to cap off this turn key home!

SEE MORE

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: 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
 

$303,210$370,590$336,900

PURCHASE PRICE

$1,368$1,672$1,520

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,520
EXPENSES Loan Payment -$1,170
Property Tax -$215
Property Insurance -$54
Property Management Fees -$119
CASH FLOW
-$39

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.

$336,900

PROJECTED PRICE

$1,520

PROJECTED RENT

0.45%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.96%
Appreciation Year (1-5) 8.8%
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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$95,029

INVESTMENT

$95,029

Down Payment
$84,225
Rehab Estimate
$5,750
Closing Costs
$5,054

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,170

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $84,225
Loan Amount $252,675
See What Happens When You Reinvest Cash Flow

5.33

YEARS SAVED

$18,587

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,520

    LIST RENT
  • $1.08

    LIST RENT PER SQFT
  • $1,518

    COMP ESTIMATED VALUE
  • $1.08

    COMP AVG. RENT PER SQFT
Comps Range
$1,350
1$1,3502$1,3503$1,3504$1,3955$1,520
$1,520
RENT COMPS ANALYSIS
  • 8220 Hot Creek Drive Las Vegas, NV 5
    • 2 beds 3 baths ∙ 1,406 Sqft ∙ Built 1995 2 beds 3 baths ∙ 1,406 Sqft ∙ Built 1995
    • Rent
    • Rent Per SQFT
    •  
    • $1,520
    • $1.08
    •  
  • 8425 Sluman Court Las Vegas, NV 1
    • 2 beds 3 baths ∙ 1,260 Sqft ∙ Built 2002 2 beds 3 baths ∙ 1,260 Sqft ∙ Built 2002
    LEASED 06/26/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,350
    • $1.07
    •  
  • 1504 Faldo Street Las Vegas, NV 2
    • 2 beds 3 baths ∙ 1,259 Sqft ∙ Built 1998 2 beds 3 baths ∙ 1,259 Sqft ∙ Built 1998
    LEASED 08/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,350
    • $1.07
    •  
  • 8409 Tiger Woods Avenue Las Vegas, NV 3
    • 2 beds 3 baths ∙ 1,259 Sqft ∙ Built 2003 2 beds 3 baths ∙ 1,259 Sqft ∙ Built 2003
    LEASED 10/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,350
    • $1.07
    •  
  • 8412 Sluman Court #0 Las Vegas, NV 4
    • 2 beds 3 baths ∙ 1,260 Sqft ∙ Built 1998 2 beds 3 baths ∙ 1,260 Sqft ∙ Built 1998
    LEASED 01/31/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,395
    • $1.11
    •  
PROPERTY LISTING DETAILS
George Kypreos
1.702.815.1555
Gk Properties
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2269829
Last Updated: 02/12/2021
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