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8408 Lucero Avenue Las Vegas, NV 89149

3 Beds 3 Baths 1,846 sqft Built 2007

$283,750

List Price

$1,440

$1.3K - $1.6K

Rent Est.

PROPERTY INFO

November 13, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2007
  • Price/Sqft : $153.71
  • 4 Days on Market
  • MLS # : 2248084
  • Updated Date : 11/14/2020 at 21:29
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,846 sqft
  • Baths : 2 full , 1 half
Listing Agent

Bhhs Nevada Properties

Listing Agent's Description

Just refreshed with new carpet, fresh paint inside, new blinds. Great open plan with living spaces both up and down. All bedrooms have ceiling fans and upgraded, custom closet packages. Cozy rear yard is ready for a new owner's ideas. Nice corner lot provides lots of light and air for this home. Property is located near access to both I215 and US95, so easy access to entire LV Valley. Check this one out!

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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)

PRICE & RENT TRENDS

Neighborhood: Centennial Hills

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320k340k360kPrice in $119k362k

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

Neighborhood: Centennial Hills

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
Dean Lamar Allen Elementary School Primary Regular 660 32 6
Edmundo Eddie Escobedo Sr Middle School Middle Regular 1,171 47 NA
Centennial High School High Regular 3,055 124 6

Dean Lamar Allen Elementary School

  • Education Level: Primary
  • # of students: 660
  • # of teachers: 32
6
GreatSchools Rating

Edmundo Eddie Escobedo Sr Middle School

  • Education Level: Middle
  • # of students: 1,171
  • # of teachers: 47
NA
GreatSchools Rating

Centennial High School

  • Education Level: High
  • # of students: 3,055
  • # of teachers: 124
6
GreatSchools Rating
 

$255,375$312,125$283,750

PURCHASE PRICE

$1,296$1,584$1,440

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,440
EXPENSES Loan Payment -$1,047
Property Tax -$236
Property Insurance -$63
Property Management Fees -$119
CASH FLOW
-$24

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.

$283,750

PROJECTED PRICE

$1,440

PROJECTED RENT

0.51%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.05%
Appreciation Year (1-5) 10.3%
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

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$80,944

INVESTMENT

$80,944

Down Payment
$70,938
Rehab Estimate
$5,750
Closing Costs
$4,256

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,047

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $70,938
Loan Amount $212,813
See What Happens When You Reinvest Cash Flow

5.5

YEARS SAVED

$19,874

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,440

    LIST RENT
  • $0.78

    LIST RENT PER SQFT
  • $1,564

    COMP ESTIMATED VALUE
  • $0.85

    COMP AVG. RENT PER SQFT
Comps Range
$1,440
1$1,4402$1,4503$1,4954$1,5005$1,600
$1,600
RENT COMPS ANALYSIS
  • 8408 Lucero Avenue Las Vegas, NV 1
    • 3 beds 3 baths ∙ 1,846 Sqft ∙ Built 2007 3 beds 3 baths ∙ 1,846 Sqft ∙ Built 2007
    • Rent
    • Rent Per SQFT
    •  
    • $1,440
    • $0.78
    •  
  • 8444 Viansa Loma Avenue Las Vegas, NV 2
    • 4 beds 3 baths ∙ 1,723 Sqft ∙ Built 2006 4 beds 3 baths ∙ 1,723 Sqft ∙ Built 2006
    LEASED 03/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $0.84
    •  
  • 8420 Lucero Avenue Las Vegas, NV 3
    • 3 beds 3 baths ∙ 1,846 Sqft ∙ Built 2007 3 beds 3 baths ∙ 1,846 Sqft ∙ Built 2007
    LEASED 08/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,495
    • $0.81
    •  
  • 8412 Lucero Avenue Las Vegas, NV 4
    • 4 beds 3 baths ∙ 1,723 Sqft ∙ Built 2007 4 beds 3 baths ∙ 1,723 Sqft ∙ Built 2007
    LEASED 08/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $0.87
    •  
  • 8427 Sequoia Grove Avenue Las Vegas, NV 5
    • 3 beds 3 baths ∙ 1,846 Sqft ∙ Built 2007 3 beds 3 baths ∙ 1,846 Sqft ∙ Built 2007
    LEASED 11/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $0.87
    •  
PROPERTY LISTING DETAILS
David P Boyer
1.702.379.6786
Bhhs Nevada Properties
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2248084
Last Updated: 11/14/2020
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