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8349 Sugar Bowl Court Las Vegas, NV 89128

5 Beds 2 Baths 2,991 sqft Built 1990

$539,000

List Price

$2,340

$2.1K - $2.6K

Rent Est.

PROPERTY INFO

November 06, 2020 RECENTLY ADDED
FACTS
  • Built In 1990
  • Price/Sqft : $180.21
  • 3 Days on Market
  • MLS # : 2246279
  • Updated Date : 11/07/2020 at 11:24
CONSTRUCTION
  • Beds : 5
  • Floor Size : 2,991 sqft
  • Baths : 2 full
Listing Agent

Urban Nest Realty

Listing Agent's Description

Location+++ Beautiful home nestled on a corner cul-de-sac street in desirable South Shores. Backyard paradise, lot over 10k sf! Gorgeous pool (re-plastered in 2019) in outdoor paradise setting. 5 bedrooms, 3 bathrooms, dramatic entry with vaulted ceilings. Formal living and dining room. Kitchen granite counters breakfast bar, eat in nook area, over looking amazing backyard. All stainless steel upgraded appliances included. Huge primary bedroom upstairs separate from other bedrooms, primary bath room has double sinks, sperate shower and tub, w/i closet --three additional bedrooms and full bath upstairs. One bedroom downstairs and 3/4 bath. Window coverings throughout, 8 ceiling fans, over $25k spend on Guardian galvanized metal security screens and decorative steel entry door. New Roof 2020, Exterior paint 2018. Three car garage with direct access to home. Custom built storage shed in back yard stays. Whole house water filtration system included.

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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)

PRICE & RENT TRENDS

Neighborhood: South Shores

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320k340k360k380kPrice in $119k384k

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

Neighborhood: South Shores

NeighborhoodNIR Market*CityMarket2010Year20002019 Q211001200130014001500160017001800190020002100Rent in $10762136

* 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
 

$485,100$592,900$539,000

PURCHASE PRICE

$2,106$2,574$2,340

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,340
EXPENSES Loan Payment -$1,989
Property Tax -$312
Property Insurance -$85
Property Management Fees -$119
CASH FLOW
-$165

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.

$539,000

PROJECTED PRICE

$2,340

PROJECTED RENT

0.43%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.05%
Appreciation Year (1-5) 8.0%
Maintenance Year (1-5) 8.00%
Vacancy 7.57%
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$1.6M$1.8M

PROJECTED ANNUAL CASH FLOW

11530-$5.0k$0.0$5.0k$10k$15k$20k$25k

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$148,585

INVESTMENT

$148,585

Down Payment
$134,750
Rehab Estimate
$5,750
Closing Costs
$8,085

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,989

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $134,750
Loan Amount $404,250
See What Happens When You Reinvest Cash Flow

4.5

YEARS SAVED

$28,138

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,340

    LIST RENT
  • $0.78

    LIST RENT PER SQFT
  • $2,340

    COMP ESTIMATED VALUE
  • $0.78

    COMP AVG. RENT PER SQFT
Comps Range
$2,000
1$2,0002$2,3403$2,3504$2,6005$2,652
$2,652
RENT COMPS ANALYSIS
  • 8349 Sugar Bowl Court Las Vegas, NV 2
    • 5 beds 2 baths ∙ 2,991 Sqft ∙ Built 1990 5 beds 2 baths ∙ 2,991 Sqft ∙ Built 1990
    • Rent
    • Rent Per SQFT
    •  
    • $2,340
    • $0.78
    •  
  • 8248 Aqua Spray Las Vegas, NV 1
    • 5 beds 2 baths ∙ 3,099 Sqft ∙ Built 1991 5 beds 2 baths ∙ 3,099 Sqft ∙ Built 1991
    LEASED 04/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $0.65
    •  
  • 8224 Ocean Terrace Way Las Vegas, NV 3
    • 4 beds 2 baths ∙ 3,099 Sqft ∙ Built 1990 4 beds 2 baths ∙ 3,099 Sqft ∙ Built 1990
    LEASED 05/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,350
    • $0.76
    •  
  • 2016 Waterbury Lane Las Vegas, NV 4
    • 5 beds 2 baths ∙ 3,027 Sqft ∙ Built 1994 5 beds 2 baths ∙ 3,027 Sqft ∙ Built 1994
    LEASED 03/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,600
    • $0.86
    •  
  • 8221 Swan Lake Avenue Las Vegas, NV 5
    • 5 beds 3 baths ∙ 3,099 Sqft ∙ Built 1989 5 beds 3 baths ∙ 3,099 Sqft ∙ Built 1989
    LEASED 07/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,652
    • $0.86
    •  
PROPERTY LISTING DETAILS
Carrie Spargur-desanctis
1.702.499.6608
Urban Nest Realty
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2246279
Last Updated: 11/07/2020
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