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8410 Eldora Avenue #2052 Las Vegas, NV 89117

2 Beds 3 Baths 1,148 sqft Built 1998

$179,990

List Price

$1,400

$1.3K - $1.5K

Rent Est.

PROPERTY INFO

November 02, 2020 RECENTLY ADDED
FACTS
  • Built In 1998
  • Price/Sqft : $156.79
  • 2 Days on Market
  • MLS # : 2244131
  • Updated Date : 11/02/2020 at 15:00
CONSTRUCTION
  • Beds : 2
  • Floor Size : 1,148 sqft
  • Baths : 2 full , 1 half
Listing Agent

1st Priority Realty, Llc

Listing Agent's Description

Beautiful Condo in SW, Corner unit with a private balcony, second floor with a separate storage downstairs. Stainless steal appliances. The gated, have a pool & Spa with a huge area for RV parking. Tenant is going to move out on 11/30/20.

SEE MORE

MARKET HIGHLIGHTS

  • 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: The Lakes-Country Club

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320k340k360kPrice in $119k368k

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

Neighborhood: The Lakes-Country Club

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21200140016001800200022002400260028003000Rent in $10763020

* 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
Herbert A. Derfelt Elementary School Primary Regular 699 34 6
Lawrence Junior High School Middle Regular 1,421 61 NA
Spring Valley High School High Regular 1,925 79 4

Herbert A. Derfelt Elementary School

  • Education Level: Primary
  • # of students: 699
  • # 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
 

$161,991$197,989$179,990

PURCHASE PRICE

$1,260$1,540$1,400

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,400
EXPENSES Loan Payment -$664
Property Tax -$113
Property Insurance -$49
Property Management Fees -$119
CASH FLOW
$455

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.

$179,990

PROJECTED PRICE

$1,400

PROJECTED RENT

0.78%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.96%
Appreciation Year (1-5) 9.5%
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

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$53,447

INVESTMENT

$53,447

Down Payment
$44,998
Rehab Estimate
$5,750
Closing Costs
$2,700

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 20% down payment or higher enables the proceeds from the asset to cover all costs.

$664

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $44,998
Loan Amount $134,993
See What Happens When You Reinvest Cash Flow

16.17

YEARS SAVED

$56,250

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,400

    LIST RENT
  • $1.22

    LIST RENT PER SQFT
  • $1,214

    COMP ESTIMATED VALUE
  • $1.06

    COMP AVG. RENT PER SQFT
Comps Range
$995
1$9952$1,1003$1,3004$1,3005$1,400
$1,400
RENT COMPS ANALYSIS
  • 8410 Eldora Avenue #2052 Las Vegas, NV 5
    • 2 beds 3 baths ∙ 1,148 Sqft ∙ Built 1998 2 beds 3 baths ∙ 1,148 Sqft ∙ Built 1998
    • Rent
    • Rent Per SQFT
    •  
    • $1,400
    • $1.22
    •  
  • 2750 Durango Drive #1049 Las Vegas, NV 1
    • 2 beds 2 baths ∙ 965 Sqft ∙ Built 1989 2 beds 2 baths ∙ 965 Sqft ∙ Built 1989
    LEASED 11/05/19
    • Rent
    • Rent Per SQFT
    •  
    • $995
    • $1.03
    •  
  • 8455 Sahara Avenue #143 Las Vegas, NV 2
    • 2 beds 2 baths ∙ 1,015 Sqft ∙ Built 1990 2 beds 2 baths ∙ 1,015 Sqft ∙ Built 1990
    LEASED 09/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,100
    • $1.08
    •  
  • 2605 Durango #203 Las Vegas, NV 3
    • 2 beds 2 baths ∙ 1,232 Sqft ∙ Built 1987 2 beds 2 baths ∙ 1,232 Sqft ∙ Built 1987
    LEASED 07/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,300
    • $1.06
    •  
  • 2603 Durango Drive #202 Las Vegas, NV 4
    • 2 beds 2 baths ∙ 1,232 Sqft ∙ Built 1987 2 beds 2 baths ∙ 1,232 Sqft ∙ Built 1987
    LEASED 08/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,300
    • $1.06
    •  
PROPERTY LISTING DETAILS
Adrineh Yeghnazary
1.702.285.6518
1st Priority Realty, Llc
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2244131
Last Updated: 11/02/2020
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