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8412 Myerlee Court Las Vegas, NV 89131

5 Beds 4 Baths 3,854 sqft Built 2006

$699,999

List Price

$2,990

$2.7K - $3.2K

Rent Est.

PROPERTY INFO

February 06, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2006
  • Price/Sqft : $181.63
  • 3 Days on Market
  • MLS # : 2267980
  • Updated Date : 02/06/2021 at 15:44
CONSTRUCTION
  • Beds : 5
  • Floor Size : 3,854 sqft
  • Baths : 3 full , 1 half
Listing Agent

Huntington & Ellis, A Real Est

Listing Agent's Description

Exquisite 4-bedroom + casita home on a prime Silverstone Ranch corner parcel with incredible mountain views! Enjoy a backyard retreat with an entertainer’s pool and spa. Plenty of outdoor space with 2 covered patios, outdoor fireplace, and a balcony off the master with serene views. Kitchen hosts monogram appliances, granite counters, island with bar, and a butler’s pantry. Dramatic iron & wood grand staircase. Huge game room and loft. Bedroom with full bath downstairs. Plantation shutters throughout. Custom tile floors along with carpet. Casita with ¾ bathroom and walk-in closet.

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • As the largest share, Las Vegas metro contributes to 75.1% of Nevada state's economy i.e. Gross State Product (USMayors.org, 2018)

PRICE & RENT TRENDS

Neighborhood: Silverstone Ranch

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320k340k360k380kPrice in $119k387k

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

Neighborhood: Silverstone Ranch

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
Thomas O'roarke Elementary School Primary Regular 817 42 9
Ralph Cadwallader Middle School Middle Regular 1,480 63 NA
Arbor View High School High Regular 2,878 116 9

Thomas O'roarke Elementary School

  • Education Level: Primary
  • # of students: 817
  • # of teachers: 42
9
GreatSchools Rating

Ralph Cadwallader Middle School

  • Education Level: Middle
  • # of students: 1,480
  • # of teachers: 63
NA
GreatSchools Rating

Arbor View High School

  • Education Level: High
  • # of students: 2,878
  • # of teachers: 116
9
GreatSchools Rating
 

$629,999$769,999$699,999

PURCHASE PRICE

$2,691$3,289$2,990

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,990
EXPENSES Loan Payment -$2,431
Property Tax -$558
Property Insurance -$102
Property Management Fees -$119
CASH FLOW
-$220

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.

$699,999

PROJECTED PRICE

$2,990

PROJECTED RENT

0.43%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.05%
Appreciation Year (1-5) 8.2%
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

PROJECTED ANNUAL CASH FLOW

11530-$5.0k$0.0$5.0k$10k$15k$20k$25k$30k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$191,250

INVESTMENT

$191,250

Down Payment
$175,000
Rehab Estimate
$5,750
Closing Costs
$10,500

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$2,431

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $175,000
Loan Amount $524,999
See What Happens When You Reinvest Cash Flow

4.08

YEARS SAVED

$26,786

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,990

    LIST RENT
  • $0.78

    LIST RENT PER SQFT
  • $3,173

    COMP ESTIMATED VALUE
  • $0.82

    COMP AVG. RENT PER SQFT
Comps Range
$2,990
1$2,9902$3,0003$3,0004$3,250
$3,250
RENT COMPS ANALYSIS
  • 8412 Myerlee Court Las Vegas, NV 1
    • 5 beds 4 baths ∙ 3,854 Sqft ∙ Built 2006 5 beds 4 baths ∙ 3,854 Sqft ∙ Built 2006
    • Rent
    • Rent Per SQFT
    •  
    • $2,990
    • $0.78
    •  
  • 8301 Mount Logan Court Las Vegas, NV 2
    • 4 beds 4 baths ∙ 3,854 Sqft ∙ Built 2004 4 beds 4 baths ∙ 3,854 Sqft ∙ Built 2004
    LEASED 08/23/19
    • Rent
    • Rent Per SQFT
    •  
    • $3,000
    • $0.78
    •  
  • 5810 Majestic Tide Avenue Las Vegas, NV 3
    • 5 beds 3 baths ∙ 3,596 Sqft ∙ Built 2001 5 beds 3 baths ∙ 3,596 Sqft ∙ Built 2001
    LEASED 11/25/19
    • Rent
    • Rent Per SQFT
    •  
    • $3,000
    • $0.83
    •  
  • 7620 Pleasant Colony Court Las Vegas, NV 4
    • 4 beds 3 baths ∙ 3,775 Sqft ∙ Built 2006 4 beds 3 baths ∙ 3,775 Sqft ∙ Built 2006
    LEASED 06/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,250
    • $0.86
    •  
PROPERTY LISTING DETAILS
Craig Tann
1.702.956.3036
Huntington & Ellis, A Real Est
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2267980
Last Updated: 02/06/2021
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