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8422 Elche Court Las Vegas, NV 89178

5 Beds 3 Baths 3,496 sqft Built 2006

$549,000

List Price

$2,430

$2.2K - $2.7K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 13, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2006
  • Price/Sqft : $157.04
  • 3 Days on Market
  • MLS # : 2278106
  • Updated Date : 03/13/2021 at 09:00
CONSTRUCTION
  • Beds : 5
  • Floor Size : 3,496 sqft
  • Baths : 3 full
Listing Agent

Keller Williams Realty Las Vegas

Listing Agent's Description

Desirable 2-Story home on a corner lot in a Mountain's Edge gated community. Travertine flooring, iron railings, vaulted ceilings, gourmet kitchen and a balcony are just a few highlights of this great property! Close proximity to restaurants, dining, parks and freeways make this a convenient home to live in. 5 bedrooms, loft, formal dining room, living room and 3-car garage make for spacious living throughout.

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: Mountain Edge

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320k340k360kPrice in $119k362k

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

Neighborhood: Mountain Edge

NeighborhoodNIR Market*CityMarket2010Year20002019 Q211001200130014001500160017001800Rent in $10391875

* 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
William V. Wright Elementary School Primary Regular 1,256 62 8
Lawrence And Heidi Canarelli Middle School Middle Regular 1,802 70 NA
Desert Oasis High School High Regular 2,417 102 5

William V. Wright Elementary School

  • Education Level: Primary
  • # of students: 1,256
  • # of teachers: 62
8
GreatSchools Rating

Lawrence And Heidi Canarelli Middle School

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

Desert Oasis High School

  • Education Level: High
  • # of students: 2,417
  • # of teachers: 102
5
GreatSchools Rating
 

$494,100$603,900$549,000

PURCHASE PRICE

$2,187$2,673$2,430

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,430
EXPENSES Loan Payment -$1,907
Property Tax -$407
Property Insurance -$95
Property Management Fees -$119
CASH FLOW
-$98

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.

$549,000

PROJECTED PRICE

$2,430

PROJECTED RENT

0.44%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.05%
Appreciation Year (1-5) 8.4%
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

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$1.8M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$151,235

INVESTMENT

$151,235

Down Payment
$137,250
Rehab Estimate
$5,750
Closing Costs
$8,235

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,907

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $137,250
Loan Amount $411,750
See What Happens When You Reinvest Cash Flow

4.83

YEARS SAVED

$27,065

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,430

    LIST RENT
  • $0.7

    LIST RENT PER SQFT
  • $2,246

    COMP ESTIMATED VALUE
  • $0.64

    COMP AVG. RENT PER SQFT
Comps Range
$2,150
1$2,1502$2,2253$2,3954$2,4305$2,450
$2,450
RENT COMPS ANALYSIS
  • 8422 Elche Court Las Vegas, NV 4
    • 5 beds 3 baths ∙ 3,496 Sqft ∙ Built 2006 5 beds 3 baths ∙ 3,496 Sqft ∙ Built 2006
    • Rent
    • Rent Per SQFT
    •  
    • $2,430
    • $0.70
    •  
  • 8483 Elche Court Las Vegas, NV 1
    • 4 beds 3 baths ∙ 3,496 Sqft ∙ Built 2006 4 beds 3 baths ∙ 3,496 Sqft ∙ Built 2006
    LEASED 07/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,150
    • $0.61
    •  
  • 8454 Benidorm Las Vegas, NV 2
    • 4 beds 2 baths ∙ 3,496 Sqft ∙ Built 2006 4 beds 2 baths ∙ 3,496 Sqft ∙ Built 2006
    LEASED 05/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,225
    • $0.64
    •  
  • 9516 Dawn Heights Court Las Vegas, NV 3
    • 5 beds 4 baths ∙ 3,628 Sqft ∙ Built 2007 5 beds 4 baths ∙ 3,628 Sqft ∙ Built 2007
    LEASED 08/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,395
    • $0.66
    •  
  • 8754 Moon Crater Avenue Las Vegas, NV 5
    • 4 beds 3 baths ∙ 3,690 Sqft ∙ Built 2013 4 beds 3 baths ∙ 3,690 Sqft ∙ Built 2013
    LEASED 10/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,450
    • $0.66
    •  
PROPERTY LISTING DETAILS
Jeff R Helvin
1.702.497.4434
Keller Williams Realty Las Vegas
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2278106
Last Updated: 03/13/2021
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