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8375 Torino Avenue Las Vegas, NV 89113

3 Beds 3 Baths 2,974 sqft Built 1998

$750,000

List Price

$2,490

$2.2K - $2.7K

Rent Est.

PROPERTY INFO

FACTS
  • Single Family
  • Built In 1998
  • Price/Sqft : $252.19
  • 12 Days on Market
  • MLS # : 2263176
  • Updated Date : 01/28/2021 at 21:26
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,974 sqft
  • Baths : 2 full , 1 half
Listing Agent

Orange Realty Group Llc

Listing Agent's Description

Rare one story custom home on a huge 3/4 acre lot with NO HOA owned by ONE owner who actually built the home- the blueprints are available to view! Security Rolladen shutters throughout the entire home. Owners added a permitted Sun room-giving you way more living space than what's on the tax record-(305 Sq.ft to be exact.) The sun room overlooks an amazing backyard with a beautiful pebble tech beach entry pool and spa with a relaxing waterfall. Home has been freshly painted throughout and brand new carpets in all of the bedrooms and hallway. Extra features include:Two Brand new LENNOX AC units put in 2020, Dual fireplace between living room and family room, RV Parking, easy to care for desert landscaping, plantation shutters, a three car garage, gorgeous granite gourmet kitchen with open concept/vaulted ceilings layout. Primary bedroom has enough room for a sitting room as well as bedroom furniture. A beautiful home that is move in ready.

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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: Enterprise

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320k340k360kPrice in $119k362k

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

Neighborhood: Enterprise

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2100011001200130014001500160017001800Rent in $9981875

* 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
Judi D. Steele Elementary School Primary Regular 858 43 8
Lawrence And Heidi Canarelli Middle School Middle Regular 1,802 70 NA
Sierra Vista High School High Regular 2,396 88 4

Judi D. Steele Elementary School

  • Education Level: Primary
  • # of students: 858
  • # of teachers: 43
8
GreatSchools Rating

Lawrence And Heidi Canarelli Middle School

  • Education Level: Middle
  • # of students: 1,802
  • # of teachers: 70
NA
GreatSchools Rating

Sierra Vista High School

  • Education Level: High
  • # of students: 2,396
  • # of teachers: 88
4
GreatSchools Rating
 

$675,000$825,000$750,000

PURCHASE PRICE

$2,241$2,739$2,490

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,490
EXPENSES Loan Payment -$2,605
Property Tax -$430
Property Insurance -$85
Property Management Fees -$119
CASH FLOW
-$748

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.

$750,000

PROJECTED PRICE

$2,490

PROJECTED RENT

0.33%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.05%
Appreciation Year (1-5) 9.8%
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$500k$1.0M$1.5M$2.0M$2.5M

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$500k$1.0M$1.5M$2.0M$2.5M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$204,500

INVESTMENT

$204,500

Down Payment
$187,500
Rehab Estimate
$5,750
Closing Costs
$11,250

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 65% down payment or higher enables the proceeds from the asset to cover all costs.

$2,605

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $187,500
Loan Amount $562,500
See What Happens When You Reinvest Cash Flow

1.17

YEARS SAVED

$3,933

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,490

    LIST RENT
  • $0.84

    LIST RENT PER SQFT
  • $2,543

    COMP ESTIMATED VALUE
  • $0.86

    COMP AVG. RENT PER SQFT
Comps Range
$2,395
1$2,3952$2,4903$2,4954$2,4955$2,850
$2,850
RENT COMPS ANALYSIS
  • 8375 Torino Avenue Las Vegas, NV 2
    • 3 beds 3 baths ∙ 2,974 Sqft ∙ Built 1998 3 beds 3 baths ∙ 2,974 Sqft ∙ Built 1998
    • Rent
    • Rent Per SQFT
    •  
    • $2,490
    • $0.84
    •  
  • 79 Laying Up Court Las Vegas, NV 1
    • 4 beds 4 baths ∙ 2,781 Sqft ∙ Built 2006 4 beds 4 baths ∙ 2,781 Sqft ∙ Built 2006
    LEASED 11/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,395
    • $0.86
    •  
  • 167 White Mule Avenue Las Vegas, NV 3
    • 4 beds 3 baths ∙ 3,015 Sqft ∙ Built 2015 4 beds 3 baths ∙ 3,015 Sqft ∙ Built 2015
    LEASED 10/02/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,495
    • $0.83
    •  
  • 506 First On Drive Las Vegas, NV 4
    • 3 beds 4 baths ∙ 2,891 Sqft ∙ Built 2005 3 beds 4 baths ∙ 2,891 Sqft ∙ Built 2005
    LEASED 09/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,495
    • $0.86
    •  
  • 8442 Elche Court Las Vegas, NV 5
    • 4 beds 2 baths ∙ 3,293 Sqft ∙ Built 2006 4 beds 2 baths ∙ 3,293 Sqft ∙ Built 2006
    LEASED 09/18/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,850
    • $0.87
    •  
PROPERTY LISTING DETAILS
Elisa Dease
1.702.557.4348
Orange Realty Group Llc
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2263176
Last Updated: 01/28/2021
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