Work with a dedicated Real Estate Advisor who will take your financial preferences and help you select and acquire properties that fit your criteria. Learn more

8465 Palmada Drive Las Vegas, NV 89123

3 Beds 2 Baths 1,163 sqft Built 1988

$279,900

List Price

$1,400

$1.3K - $1.5K

Rent Est.

PROPERTY INFO

December 06, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1988
  • Price/Sqft : $240.67
  • 2 Days on Market
  • MLS # : 2253741
  • Updated Date : 12/05/2020 at 15:29
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,163 sqft
  • Baths : 2 full
Listing Agent

Gk Properties

Listing Agent's Description

Convenient and Spacious! This home welcomes you with a brick gas fireplace and vintage chandelier. Custom tile throughout. Cherry wood cabinets in kitchen. All brand new stainless appliances and upgraded sink. Covered patio in rear yard extends the entire length of the home. Make this charmer yours!

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: Silverado Ranch

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300kPrice in $119k305k

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

Neighborhood: Silverado Ranch

NeighborhoodNIR Market*CityMarket2010Year20002019 Q211001150120012501300135014001450150015501600Rent in $10761606

* 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
John R. Beatty Elementary School Primary Regular 601 29 8
Jack L. Schofield Middle School Middle Regular 1,332 51 NA
Silverado High School High Regular 2,263 94 5

John R. Beatty Elementary School

  • Education Level: Primary
  • # of students: 601
  • # of teachers: 29
8
GreatSchools Rating

Jack L. Schofield Middle School

  • Education Level: Middle
  • # of students: 1,332
  • # of teachers: 51
NA
GreatSchools Rating

Silverado High School

  • Education Level: High
  • # of students: 2,263
  • # of teachers: 94
5
GreatSchools Rating
 

$251,910$307,890$279,900

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 -$1,033
Property Tax -$140
Property Insurance -$50
Property Management Fees -$119
CASH FLOW
$59

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.

$279,900

PROJECTED PRICE

$1,400

PROJECTED RENT

0.50%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.96%
Appreciation Year (1-5) 10.2%
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$1.0M

PROJECTED ANNUAL CASH FLOW

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

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$79,924

INVESTMENT

$79,924

Down Payment
$69,975
Rehab Estimate
$5,750
Closing Costs
$4,199

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 45% down payment or higher enables the proceeds from the asset to cover all costs.

$1,033

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $69,975
Loan Amount $209,925
See What Happens When You Reinvest Cash Flow

7.33

YEARS SAVED

$29,083

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
  • $1.2

    LIST RENT PER SQFT
  • $1,381

    COMP ESTIMATED VALUE
  • $1.19

    COMP AVG. RENT PER SQFT
Comps Range
$1,400
1$1,4002$1,4503$1,4504$1,5005$1,500
$1,500
RENT COMPS ANALYSIS
  • 8465 Palmada Drive Las Vegas, NV 1
    • 3 beds 2 baths ∙ 1,163 Sqft ∙ Built 1988 3 beds 2 baths ∙ 1,163 Sqft ∙ Built 1988
    • Rent
    • Rent Per SQFT
    •  
    • $1,400
    • $1.20
    •  
  • 502 Macbrey Las Vegas, NV 2
    • 3 beds 2 baths ∙ 1,266 Sqft ∙ Built 1987 3 beds 2 baths ∙ 1,266 Sqft ∙ Built 1987
    LEASED 06/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $1.15
    •  
  • 8170 Sandy Creek Drive Las Vegas, NV 3
    • 3 beds 1 baths ∙ 1,250 Sqft ∙ Built 1993 3 beds 1 baths ∙ 1,250 Sqft ∙ Built 1993
    LEASED 09/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $1.16
    •  
  • 8296 Daventry Las Vegas, NV 4
    • 3 beds 2 baths ∙ 1,163 Sqft ∙ Built 1986 3 beds 2 baths ∙ 1,163 Sqft ∙ Built 1986
    LEASED 05/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $1.29
    •  
  • 570 Kelsford Drive Las Vegas, NV 5
    • 3 beds 1 baths ∙ 1,304 Sqft ∙ Built 1990 3 beds 1 baths ∙ 1,304 Sqft ∙ Built 1990
    LEASED 07/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $1.15
    •  
PROPERTY LISTING DETAILS
George Kypreos
1.702.815.1555
Gk Properties
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2253741
Last Updated: 12/05/2020
BESbswy