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8332 Aspenbrook Avenue Las Vegas, NV 89145

3 Beds 3 Baths 1,317 sqft Built 1989

$265,000

List Price

$1,320

$1.2K - $1.5K

Rent Est.

$75,975

Investment Est.

PROPERTY INFO

December 04, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1989
  • Price/Sqft : $201.21
  • 3 Days on Market
  • MLS # : 2252017
  • Updated Date : 12/04/2020 at 13:30
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,317 sqft
  • Baths : 3 full
Listing Agent

Galindo Group Real Estate

Listing Agent's Description

LOCATED JUST OUTSIDE OF SUMMERLIN, CHECK OUT THIS NORTHWEST 3 BED 3 FULL BATH HOME WITH NO HOA! THE DOWNSTAIRS OFFERS A GAS FIREPLACE IN THE LIVING ROOM AND A DEN WITH A FULL BATHROOM ATTACHED. WALK OUT BACK TO A POOL-SIZED BACKYARD WITH A COVERED PATIO AND SIDE YARD. CONTINUE UPSTAIRS TO THE LAUNDRY ROOM, 3 BEDROOMS WITH CEILING FANS AND 2 FULL BATHS. ENTIRE HOME HAS SOLAR SCREENS AND COMES WITH REFRIGERATOR, WASHER & DRYER. IN CLOSE PROXIMITY OF SHOPPING AT TIVOLI VILLAGE/BOCA PARK AND MULTIPLE GOLF COURSES.

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MARKET HIGHLIGHTS

Las Vegas Market Report
  • 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: Angel Park Lindell

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260k280kPrice in $91k296k

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

Neighborhood: Angel Park Lindell

NeighborhoodNIR Market*CityMarket2010Year20002019 Q29501000105011001150120012501300135014001450150015501600Rent in $9111606

* 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
Walter Jacobson Elementary School Primary Regular 592 32 7
Walter Johnson Junior High School Middle Regular 1,102 50 NA
Bonanza High School High Regular 2,003 83 3

Walter Jacobson Elementary School

  • Education Level: Primary
  • # of students: 592
  • # of teachers: 32
7
GreatSchools Rating

Walter Johnson Junior High School

  • Education Level: Middle
  • # of students: 1,102
  • # of teachers: 50
NA
GreatSchools Rating

Bonanza High School

  • Education Level: High
  • # of students: 2,003
  • # of teachers: 83
3
GreatSchools Rating
 

FINANCIALS

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$238,500$291,500$265,000

PURCHASE PRICE

$1,188$1,452$1,320

RENT

DOWN PAYMENT
FINANCING
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FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,320
EXPENSES Loan Payment -$978
Property Tax -$166
Property Insurance -$53
Property Management Fees -$119
CASH FLOW
$5

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.

$265,000

PROJECTED PRICE

$1,320

PROJECTED RENT

0.50%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.96%
Appreciation Year (1-5) 11.1%
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

PROJECTED ANNUAL CASH FLOW

11530-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k

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$75,975

INVESTMENT

$75,975

Down Payment		 $66,250
Rehab Estimate		 $5,750
Closing Costs		 $3,975

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$978

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $66,250
Loan Amount $198,750
See What Happens When You Reinvest Cash Flow

6.17

YEARS SAVED

$21,563

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,320

    LIST RENT

  • $1

    LIST RENT PER SQFT

  • $1,380

    COMP ESTIMATED VALUE

  • $1.05

    COMP AVG. RENT PER SQFT
Comps Range
$1,295
1$1,2952$1,3203$1,3504$1,3505$1,395
$1,395
RENT COMPS ANALYSIS
  • 8332 Aspenbrook Avenue Las Vegas, NV 2
    • 3 beds 3 baths ∙ 1,317 Sqft ∙ Built 1989 3 beds 3 baths ∙ 1,317 Sqft ∙ Built 1989
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,320
    • $1.00
    •  
  • 216 Jon Belger Drive Las Vegas, NV 1
    • 3 beds 2 baths ∙ 1,214 Sqft ∙ Built 1983 3 beds 2 baths ∙ 1,214 Sqft ∙ Built 1983
    property image
    LEASED 05/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,295
    • $1.07
    •  
  • 249 Logansberry Lane Las Vegas, NV 3
    • 3 beds 2 baths ∙ 1,328 Sqft ∙ Built 1983 3 beds 2 baths ∙ 1,328 Sqft ∙ Built 1983
    property image
    LEASED 01/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,350
    • $1.02
    •  
  • 413 Europa Las Vegas, NV 4
    • 3 beds 2 baths ∙ 1,322 Sqft ∙ Built 1994 3 beds 2 baths ∙ 1,322 Sqft ∙ Built 1994
    property image
    LEASED 05/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,350
    • $1.02
    •  
  • 8353 San Grail Court Las Vegas, NV 5
    • 3 beds 2 baths ∙ 1,289 Sqft ∙ Built 1993 3 beds 2 baths ∙ 1,289 Sqft ∙ Built 1993
    property image
    LEASED 12/12/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,395
    • $1.08
    •  
PROPERTY LISTING DETAILS
LISTING AGENT
Karl Workman
1.702.592.7353
Galindo Group Real Estate
BUYER AGENT
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
SOURCE
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2252017
Last Updated: 12/04/2020

All returns, cash flow, and appreciation estimates are projections. Please review our Disclaimer for more information.

All values are rounded to the nearest dollar.
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