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8478 Cerritos Court Las Vegas, NV 89178

3 Beds 2 Baths 2,699 sqft Built 2006

$449,000

List Price

$1,960

$1.8K - $2.2K

Rent Est.

PROPERTY INFO

December 05, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2006
  • Price/Sqft : $166.36
  • 3 Days on Market
  • MLS # : 2253697
  • Updated Date : 12/04/2020 at 21:26
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,699 sqft
  • Baths : 2 full
Listing Agent

Enational Realty Group

Listing Agent's Description

Spacious single family house in Mountains Edge community with unique carport attached. Convenient location to parks, Charter schools, freeway and shopping. The house features inviting living room, breakfast bar, den downstairs for office/study room. The large loft upstairs is the potential for the 4th BD. Balcony attached to the primary room. Brand new floor, fresh fully painting. Patio in the backyard, long driveway. Ready to move in!

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: 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
 

$404,100$493,900$449,000

PURCHASE PRICE

$1,764$2,156$1,960

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,960
EXPENSES Loan Payment -$1,657
Property Tax -$288
Property Insurance -$79
Property Management Fees -$119
CASH FLOW
-$183

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.

$449,000

PROJECTED PRICE

$1,960

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$200k$400k$600k$800k$1.0M$1.2M$1.4M$1.6M

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$124,735

INVESTMENT

$124,735

Down Payment
$112,250
Rehab Estimate
$5,750
Closing Costs
$6,735

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,657

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $112,250
Loan Amount $336,750
See What Happens When You Reinvest Cash Flow

4

YEARS SAVED

$19,481

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,960

    LIST RENT
  • $0.73

    LIST RENT PER SQFT
  • $2,024

    COMP ESTIMATED VALUE
  • $0.75

    COMP AVG. RENT PER SQFT
Comps Range
$1,895
1$1,8952$1,9003$1,9604$1,9955$2,100
$2,100
RENT COMPS ANALYSIS
  • 8478 Cerritos Court Las Vegas, NV 3
    • 3 beds 2 baths ∙ 2,699 Sqft ∙ Built 2006 3 beds 2 baths ∙ 2,699 Sqft ∙ Built 2006
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,960
    • $0.73
    •  
  • 9727 Ventura Mountain Street #- Las Vegas, NV 1
    • 4 beds 3 baths ∙ 2,680 Sqft ∙ Built 2006 4 beds 3 baths ∙ 2,680 Sqft ∙ Built 2006
    property image
    LEASED 06/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,895
    • $0.71
    •  
  • 8243 Yukon Hills Court Las Vegas, NV 2
    • 4 beds 2 baths ∙ 2,596 Sqft ∙ Built 2006 4 beds 2 baths ∙ 2,596 Sqft ∙ Built 2006
    property image
    LEASED 12/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,900
    • $0.73
    •  
  • 9720 Mount Cupertino Street Las Vegas, NV 4
    • 4 beds 2 baths ∙ 2,572 Sqft ∙ Built 2006 4 beds 2 baths ∙ 2,572 Sqft ∙ Built 2006
    property image
    LEASED 01/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,995
    • $0.78
    •  
  • 9751 Maspalomas Street Las Vegas, NV 5
    • 4 beds 4 baths ∙ 2,680 Sqft ∙ Built 2009 4 beds 4 baths ∙ 2,680 Sqft ∙ Built 2009
    property image
    LEASED 05/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $0.78
    •  
PROPERTY LISTING DETAILS
Yang Zou
1.702.241.9636
Enational Realty Group
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2253697
Last Updated: 12/04/2020
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