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8425 Glowing Summer Street Las Vegas, NV 89131

3 Beds 3 Baths 2,169 sqft Built 2019

$449,900

List Price

$1,640

$1.5K - $1.8K

Rent Est.

PROPERTY INFO

February 10, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2019
  • Price/Sqft : $207.42
  • 5 Days on Market
  • MLS # : 2269052
  • Updated Date : 02/13/2021 at 00:24
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,169 sqft
  • Baths : 2 full , 1 half
Listing Agent

Urban Nest Realty

Listing Agent's Description

BEAUTIFUL & PRISTINE! BETTER THAN NEW 1 STORY SINGLE HOME BUILT IN 2019*LOCATED ON A CORNER LOT W/ LARGE BACKYARD & MOUNTAIN VIEWS*NO 2 STORY HOMES NEXT TO OR BEHIND HOME*3 BEDROOMS PLUS A DEN!*OPEN KITCHEN/GREAT ROOM*STAINLESS STEEL APPLIANCES*NEW WHIRLPOOL REFRIGERATOR WITH ICE MAKER*2 BUILT-IN OVENS*QUARTZ COUNTERS*LARGE KITCHEN ISLAND*UPGRADED TILE WOOD LIKE PLANK TILES IN MAIN AREAS & BATHROOMS*MASTER BEDROOM SEPARATE FROM OTHERS*SUNBURST PLANTATION SHUTTERS THROUGHOUT*NEW LG WASHER & DRYER*4 OUTDOOR RING CAMERAS TO COVER OUTSIDE PERIMETER*SOLAR SCREENS ON SOUTH & WEST WINDOWS*OUTDOOR BBQ GAS STUB*15 SEER HVAC*HIGHEST ELECTRIC BILL THIS SUMMER WAS UNDER $155*LARGE & SEPARATE LAUNDRY ROOM PLUMBED FOR LAUNDRY SINK*PET FREE*2 CAR GARAGE BUT THE SIZE OF A 3 CAR (623 SQ FT)*WHEN YOU BUY THIS HOME ITS LIKE BUYING A NEW HOUSE BUT WITH ALL THE COSTLY UPGRADES THAT YOU WOULD NEED TO ADD ARE INSTALLED SUCH AS SHUTTERS, BACK YARD LANDSCAPING ETC .

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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: 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
Kitty Mcdonough Ward Elementary School Primary Regular 830 43 9
Anthony Saville Middle School Middle Regular 1,494 58 NA
Shadow Ridge High School High Regular 2,697 105 6

Kitty Mcdonough Ward Elementary School

  • Education Level: Primary
  • # of students: 830
  • # of teachers: 43
9
GreatSchools Rating

Anthony Saville Middle School

  • Education Level: Middle
  • # of students: 1,494
  • # of teachers: 58
NA
GreatSchools Rating

Shadow Ridge High School

  • Education Level: High
  • # of students: 2,697
  • # of teachers: 105
6
GreatSchools Rating
 

$404,910$494,890$449,900

PURCHASE PRICE

$1,476$1,804$1,640

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,640
EXPENSES Loan Payment -$1,563
Property Tax -$375
Property Insurance -$69
Property Management Fees -$119
CASH FLOW
-$486

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.

$449,900

PROJECTED PRICE

$1,640

PROJECTED RENT

0.36%

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$1.2M$1.4M$1.6M

PROJECTED ANNUAL CASH FLOW

11530-$10k-$5.0k$0.0$5.0k$10k

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$124,974

INVESTMENT

$124,974

Down Payment
$112,475
Rehab Estimate
$5,750
Closing Costs
$6,749

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,563

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $112,475
Loan Amount $337,425
See What Happens When You Reinvest Cash Flow

0.75

YEARS SAVED

$1,361

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,640

    LIST RENT
  • $0.76

    LIST RENT PER SQFT
  • $1,670

    COMP ESTIMATED VALUE
  • $0.77

    COMP AVG. RENT PER SQFT
Comps Range
$1,640
1$1,6402$1,6993$1,7504$1,7505$1,795
$1,795
RENT COMPS ANALYSIS
  • 8425 Glowing Summer Street Las Vegas, NV 1
    • 3 beds 3 baths ∙ 2,169 Sqft ∙ Built 2019 3 beds 3 baths ∙ 2,169 Sqft ∙ Built 2019
    • Rent
    • Rent Per SQFT
    •  
    • $1,640
    • $0.76
    •  
  • 5329 Jackson Valley Court Las Vegas, NV 2
    • 4 beds 3 baths ∙ 2,093 Sqft ∙ Built 2005 4 beds 3 baths ∙ 2,093 Sqft ∙ Built 2005
    LEASED 01/29/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,699
    • $0.81
    •  
  • 8617 Dodds Canyon Street Las Vegas, NV 3
    • 4 beds 3 baths ∙ 2,318 Sqft ∙ Built 2006 4 beds 3 baths ∙ 2,318 Sqft ∙ Built 2006
    LEASED 09/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.75
    •  
  • 5133 Welch Valley Avenue Las Vegas, NV 4
    • 4 beds 3 baths ∙ 2,318 Sqft ∙ Built 2005 4 beds 3 baths ∙ 2,318 Sqft ∙ Built 2005
    LEASED 11/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.75
    •  
  • 8608 Painted Horseshoe Street Las Vegas, NV 5
    • 4 beds 3 baths ∙ 2,318 Sqft ∙ Built 2005 4 beds 3 baths ∙ 2,318 Sqft ∙ Built 2005
    LEASED 02/01/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,795
    • $0.77
    •  
PROPERTY LISTING DETAILS
Jennifer M Pitterle
1.702.806.8206
Urban Nest Realty
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2269052
Last Updated: 02/13/2021
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