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8225 Burnt Sienna Street Las Vegas, NV 89123

3 Beds 2 Baths 1,895 sqft Built 1990

$369,000

List Price

$1,700

$1.5K - $1.9K

Rent Est.

PROPERTY INFO

December 18, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1990
  • Price/Sqft : $194.72
  • 3 Days on Market
  • MLS # : 2256254
  • Updated Date : 12/18/2020 at 13:30
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,895 sqft
  • Baths : 1 full , 1 half
Listing Agent

Keller Williams Market Place I

Listing Agent's Description

BEAUTIFUL ORIGINAL-OWNER HOME, METICULOUSLY CARED FOR INSIDE & OUT FROM DAY 1 WITH PRIDE OF OWNERSHIP RARELY FOUND. **GEM OF THE NEIGHBORHOOD** TIME IS OF THE ESSENCE! MINUTES FROM THE FREEWAY, AIRPORT, STRIP, AND SHOPPING WITH A LOCATION THAT'S HARD TO BEAT. UPGRADES GALORE, BEAUTIFUL KITCHEN REMODEL W/ NEW CABINETRY, SLIDE-OUTS & RECONFIGURED ISLAND. ALL INTERIOR DOORS REPLACED. SHUTTERS THROUGHOUT DOWNSTAIRS. WINDOWS REPLACED THROUGHOUT HOME. ALL BATHROOMS REMODELED. HOUSE PAINTED INSIDE & OUT AND ROOF REPLACED. A/C UNIT REPLACED 2019!!! THE PHOTOS ARE AMAZING, THE HOME IS EVEN BETTER. SO MUCH TO DISCUSS, LET'S NOT GET BOGGED DOWN IN THE DETAILS HERE THOUGH, CALL FOR A VIEWING BEFORE IT IS GONE!

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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: Paradise

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280kPrice in $112k296k

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

Neighborhood: Paradise

NeighborhoodNIR Market*CityMarket2010Year20002019 Q211001150120012501300135014001450150015501600Rent in $10761606

* 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
Louis Wiener Jr Elementary School Primary Regular 701 39 7
Jack L. Schofield Middle School Middle Regular 1,332 51 NA
Silverado High School High Regular 2,263 94 5

Louis Wiener Jr Elementary School

  • Education Level: Primary
  • # of students: 701
  • # of teachers: 39
7
GreatSchools Rating

Jack L. Schofield Middle School

  • Education Level: Middle
  • # of students: 1,332
  • # of teachers: 51
NA
GreatSchools Rating

Silverado High School

  • Education Level: High
  • # of students: 2,263
  • # of teachers: 94
5
GreatSchools Rating
 

$332,100$405,900$369,000

PURCHASE PRICE

$1,530$1,870$1,700

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,700
EXPENSES Loan Payment -$1,361
Property Tax -$173
Property Insurance -$64
Property Management Fees -$119
CASH FLOW
-$17

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.

$369,000

PROJECTED PRICE

$1,700

PROJECTED RENT

0.46%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.96%
Appreciation Year (1-5) 9.4%
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$1.4M

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$103,535

INVESTMENT

$103,535

Down Payment
$92,250
Rehab Estimate
$5,750
Closing Costs
$5,535

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,361

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $92,250
Loan Amount $276,750
See What Happens When You Reinvest Cash Flow

5.75

YEARS SAVED

$28,375

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,700

    LIST RENT
  • $0.9

    LIST RENT PER SQFT
  • $1,800

    COMP ESTIMATED VALUE
  • $0.95

    COMP AVG. RENT PER SQFT
Comps Range
$1,600
1$1,6002$1,6003$1,7004$1,7005$1,745
$1,745
RENT COMPS ANALYSIS
  • 8225 Burnt Sienna Street Las Vegas, NV 4
    • 3 beds 2 baths ∙ 1,895 Sqft ∙ Built 1990 3 beds 2 baths ∙ 1,895 Sqft ∙ Built 1990
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $0.90
    •  
  • 671 Hermosa Palms Las Vegas, NV 1
    • 4 beds 3 baths ∙ 1,777 Sqft ∙ Built 1988 4 beds 3 baths ∙ 1,777 Sqft ∙ Built 1988
    property image
    LEASED 04/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $0.90
    •  
  • 664 Palmwood Lane Las Vegas, NV 2
    • 4 beds 3 baths ∙ 1,718 Sqft ∙ Built 1993 4 beds 3 baths ∙ 1,718 Sqft ∙ Built 1993
    property image
    LEASED 11/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $0.93
    •  
  • 635 Palmwood Lane Las Vegas, NV 3
    • 4 beds 3 baths ∙ 1,718 Sqft ∙ Built 1990 4 beds 3 baths ∙ 1,718 Sqft ∙ Built 1990
    property image
    LEASED 09/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $0.99
    •  
  • 443 Old Palms Las Vegas, NV 5
    • 4 beds 3 baths ∙ 1,777 Sqft ∙ Built 1989 4 beds 3 baths ∙ 1,777 Sqft ∙ Built 1989
    property image
    LEASED 06/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,745
    • $0.98
    •  
PROPERTY LISTING DETAILS
Zachary Rainey
1.702.817.2358
Keller Williams Market Place I
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2256254
Last Updated: 12/18/2020
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