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8314 Minots Ledge Avenue Las Vegas, NV 89147

5 Beds 3 Baths 2,993 sqft Built 2014

INVESTimate

$478,880

List Price

$2,210

$1,989 - $2,431

Rent Est.

$528,684  ( +10.40%)   1 YR EST. FORECAST

PROPERTY INFO

August 24, 2020 RECENTLY ADDED
FACTS
  • Built In 2014
  • Price/Sqft : $160.00
  • 4 Days on Market
  • MLS # : 2223373
  • Updated Date : 08/25/2020 at 17:59
CONSTRUCTION
  • Beds : 5
  • Floor Size : 2,993 sqft
  • Baths : 3 full
Listing Agent

Apex Realty Llc

Listing Agent's Description

Fully upgraded, including granite counter tops, tile flooring, and cabinets. Open, spacious floor-plan, elegant design, 5 bedroom, 3 full bath, huge master bedroom. Downstairs has one bedroom and full bath.

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: Rancho Viejo

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280kPrice in $119k296k

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

Neighborhood: Rancho Viejo

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21050110011501200125013001350140014501500155016001650Rent in $10361658

* 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
Roger M. Bryan Elementary School Primary Regular 651 34 6
Lawrence Junior High School Middle Regular 1,421 61 NA
Spring Valley High School High Regular 1,925 79 4

Roger M. Bryan Elementary School

  • Education Level: Primary
  • # of students: 651
  • # of teachers: 34
6
GreatSchools Rating

Lawrence Junior High School

  • Education Level: Middle
  • # of students: 1,421
  • # of teachers: 61
NA
GreatSchools Rating

Spring Valley High School

  • Education Level: High
  • # of students: 1,925
  • # of teachers: 79
4
GreatSchools Rating
 

$430,992$526,768$478,880

PURCHASE PRICE

$1,989$2,431$2,210

RENT

DOWN PAYMENT
FINANCING

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-$5.0k$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$1.4M$1.6M

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,210
EXPENSES Loan Payment -$1,767
Property Tax -$334
Property Insurance -$85
HOA -$62
Property Management Fees -$119
CASH FLOW
-$157

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.

$478,880

PROJECTED PRICE

$2,210

PROJECTED RENT

0.46%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.96%
Appreciation Year (1-5) 10.40%
Maintenance Year (1-5) 8.00%
Vacancy 7.63%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$132,653

INVESTMENT

$132,653

Down Payment
$119,720
Rehab Estimate
$5,750
Closing Costs
$7,183

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$1,767

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $119,720
Loan Amount $359,160
See What Happens When You Reinvest Cash Flow

4.17

YEARS SAVED

$22,107

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,210

    LIST RENT
  • $0.74

    LIST RENT PER SQFT
  • $2,222

    COMP ESTIMATED VALUE
  • $0.74

    COMP AVG. RENT PER SQFT
Comps Range
$1,975
1$1,9752$2,2003$2,2104$2,3005$2,400
$2,400
RENT COMPS ANALYSIS
  • 8314 Minots Ledge Avenue Las Vegas, NV 3
    • 5 beds 3 baths ∙ 2,993 Sqft ∙ Built 2014 5 beds 3 baths ∙ 2,993 Sqft ∙ Built 2014
    • Rent
    • Rent Per SQFT
    •  
    • $2,210
    • $0.74
    •  
  • 4722 Amber Glen Court Las Vegas, NV 1
    • 4 beds 2 baths ∙ 2,889 Sqft ∙ Built 1996 4 beds 2 baths ∙ 2,889 Sqft ∙ Built 1996
    LEASED 11/07/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,975
    • $0.68
    •  
  • 8594 Lambert Drive Las Vegas, NV 2
    • 4 beds 2 baths ∙ 3,079 Sqft ∙ Built 1998 4 beds 2 baths ∙ 3,079 Sqft ∙ Built 1998
    LEASED 07/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $0.71
    •  
  • 8308 Saddleback Ledge Avenue Las Vegas, NV 4
    • 4 beds 4 baths ∙ 2,967 Sqft ∙ Built 2014 4 beds 4 baths ∙ 2,967 Sqft ∙ Built 2014
    LEASED 11/27/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $0.78
    •  
  • 7874 Barntucket Avenue Las Vegas, NV 5
    • 4 beds 2 baths ∙ 2,993 Sqft ∙ Built 2011 4 beds 2 baths ∙ 2,993 Sqft ∙ Built 2011
    LEASED 07/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,400
    • $0.80
    •  
PROPERTY LISTING DETAILS
Lesley M Chan
1.702.785.4488
Apex Realty Llc
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2223373
Last Updated: 08/25/2020
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