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8301 Mount Logan Court Las Vegas, NV 89131

4 Beds 4 Baths 3,854 sqft Built 2004

INVESTimate

$595,000

List Price

$2,990

$2,740 - $3,240

Rent Est.

$643,731  ( +8.19%)   1 YR EST. FORECAST

PROPERTY INFO

August 20, 2020 RECENTLY ADDED
FACTS
  • Built In 2004
  • Price/Sqft : $154.39
  • 8 Days on Market
  • MLS # : 2223305
  • Updated Date : 08/20/2020 at 02:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 3,854 sqft
  • Baths : 3 full , 1 half
Listing Agent

Re/max American Made

Listing Agent's Description

Lovely home! Northwest beauty that is perfect for entertaining or relaxing by the pool and spa. Covered patio with built in fireplace and Media room give you lots of options for your down time! This home is elegant and the perfect place to host friends and family in both the formal living and dining areas. Downstairs bedroom and bath, and kitchen with granite countertops and stainless steel appliances are just a few more reasons to fall in love with this home. The serene master bedroom with its balcony that overlooks the pool and mountain views will have you packing your bags and scheduling the moving truck. This one will move fast; and so should you!

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: Silverstone Ranch

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320k340k360k380kPrice in $119k387k

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

Neighborhood: Silverstone Ranch

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
 

$535,500$654,500$595,000

PURCHASE PRICE

$2,691$3,289$2,990

RENT

DOWN PAYMENT
FINANCING

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$500k$1.0M$1.5M$2.0M

PROJECTED ANNUAL CASH FLOW

11530-$5.0k$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$1.8M

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,990
EXPENSES Loan Payment -$2,195
Property Tax -$527
Property Insurance -$102
HOA -$75
Property Management Fees -$119
CASH FLOW
-$28

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.

$595,000

PROJECTED PRICE

$2,990

PROJECTED RENT

0.50%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.05%
Appreciation Year (1-5) 8.19%
Maintenance Year (1-5) 8.00%
Vacancy 7.57%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$163,425

INVESTMENT

$163,425

Down Payment
$148,750
Rehab Estimate
$5,750
Closing Costs
$8,925

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,195

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $148,750
Loan Amount $446,250
See What Happens When You Reinvest Cash Flow

5.5

YEARS SAVED

$41,992

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,990

    LIST RENT
  • $0.78

    LIST RENT PER SQFT
  • $3,208

    COMP ESTIMATED VALUE
  • $0.83

    COMP AVG. RENT PER SQFT
Comps Range
$2,800
1$2,8002$2,9903$3,2004$3,2505$3,500
$3,500
RENT COMPS ANALYSIS
  • 8301 Mount Logan Court Las Vegas, NV 2
    • 4 beds 4 baths ∙ 3,854 Sqft ∙ Built 2004 4 beds 4 baths ∙ 3,854 Sqft ∙ Built 2004
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,990
    • $0.78
    •  
  • 8094 Villa Cano Street Las Vegas, NV 1
    • 5 beds 4 baths ∙ 3,775 Sqft ∙ Built 2001 5 beds 4 baths ∙ 3,775 Sqft ∙ Built 2001
    property image
    LEASED 12/13/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,800
    • $0.74
    •  
  • 8318 Beldina Street Las Vegas, NV 3
    • 5 beds 4 baths ∙ 3,905 Sqft ∙ Built 2017 5 beds 4 baths ∙ 3,905 Sqft ∙ Built 2017
    property image
    LEASED 05/16/19
    • Rent
    • Rent Per SQFT
    •  
    • $3,200
    • $0.82
    •  
  • 7620 Pleasant Colony Court Las Vegas, NV 4
    • 4 beds 3 baths ∙ 3,775 Sqft ∙ Built 2006 4 beds 3 baths ∙ 3,775 Sqft ∙ Built 2006
    property image
    LEASED 06/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,250
    • $0.86
    •  
  • 8412 Myerlee Court Las Vegas, NV 5
    • 5 beds 4 baths ∙ 3,854 Sqft ∙ Built 2006 5 beds 4 baths ∙ 3,854 Sqft ∙ Built 2006
    property image
    LEASED 12/09/19
    • Rent
    • Rent Per SQFT
    •  
    • $3,500
    • $0.91
    •  
PROPERTY LISTING DETAILS
Amy L Groves
1.702.521.7119
Re/max American Made
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2223305
Last Updated: 08/20/2020
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