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8505 Halleys Comet Street Las Vegas, NV 89143

3 Beds 3 Baths 2,226 sqft Built 2000

$450,000

List Price

$1,710

$1.5K - $1.9K

Rent Est.

PROPERTY INFO

November 19, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2000
  • Price/Sqft : $202.16
  • 5 Days on Market
  • MLS # : 2249383
  • Updated Date : 11/19/2020 at 15:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,226 sqft
  • Baths : 2 full , 1 half
Listing Agent

Exp Realty

Listing Agent's Description

Located in a one of a kind single story gated community on a 1/3 acre lot at the back of the neighborhood. Four car garage, RV parking with 220 electrical, LARGE covered patio, brick oven, and big grassy area with mature trees. Granite counter tops in kitchen, double oven, 4 burner cooktop on an island, custom tile and laminate throughout the home. Custom paint, cabinet in hallway, ceiling fans throughout, and double doors leading into the master bedroom. Spacious living room/kitchen/dining area and a sizable family room near entry. Sellers are willing to put 5k towards a floor credit with a list price/reasonable offer.

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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)

PRICE & RENT TRENDS

Neighborhood: Tule Springs

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320k340k360k380kPrice in $119k391k

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

Neighborhood: Tule Springs

NeighborhoodNIR Market*CityMarket2010Year20002019 Q211001200130014001500160017001800Rent in $10761890

* 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
 

$405,000$495,000$450,000

PURCHASE PRICE

$1,539$1,881$1,710

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,710
EXPENSES Loan Payment -$1,660
Property Tax -$331
Property Insurance -$70
Property Management Fees -$119
CASH FLOW
-$471

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.

$450,000

PROJECTED PRICE

$1,710

PROJECTED RENT

0.38%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.05%
Appreciation Year (1-5) 8.7%
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

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$125,000

INVESTMENT

$125,000

Down Payment
$112,500
Rehab Estimate
$5,750
Closing Costs
$6,750

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,660

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $112,500
Loan Amount $337,500
See What Happens When You Reinvest Cash Flow

1.25

YEARS SAVED

$3,057

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,710

    LIST RENT
  • $0.77

    LIST RENT PER SQFT
  • $1,742

    COMP ESTIMATED VALUE
  • $0.78

    COMP AVG. RENT PER SQFT
Comps Range
$1,625
1$1,6252$1,6953$1,7104$1,7955$1,850
$1,850
RENT COMPS ANALYSIS
  • 8505 Halleys Comet Street Las Vegas, NV 3
    • 3 beds 3 baths ∙ 2,226 Sqft ∙ Built 2000 3 beds 3 baths ∙ 2,226 Sqft ∙ Built 2000
    • Rent
    • Rent Per SQFT
    •  
    • $1,710
    • $0.77
    •  
  • 8825 Tumblewood Las Vegas, NV 1
    • 3 beds 3 baths ∙ 2,091 Sqft ∙ Built 2000 3 beds 3 baths ∙ 2,091 Sqft ∙ Built 2000
    LEASED 07/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,625
    • $0.78
    •  
  • 8505 Brody Marsh Avenue #0 Las Vegas, NV 2
    • 3 beds 2 baths ∙ 2,126 Sqft ∙ Built 2001 3 beds 2 baths ∙ 2,126 Sqft ∙ Built 2001
    LEASED 06/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $0.80
    •  
  • 8617 Butterchurn Avenue #0 Las Vegas, NV 4
    • 4 beds 2 baths ∙ 2,306 Sqft ∙ Built 2000 4 beds 2 baths ∙ 2,306 Sqft ∙ Built 2000
    LEASED 05/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,795
    • $0.78
    •  
  • 8108 Bronze Treasure Court Las Vegas, NV 5
    • 4 beds 3 baths ∙ 2,405 Sqft ∙ Built 2001 4 beds 3 baths ∙ 2,405 Sqft ∙ Built 2001
    LEASED 04/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $0.77
    •  
PROPERTY LISTING DETAILS
Andrew C Lehr
1.702.762.0782
Exp Realty
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2249383
Last Updated: 11/19/2020
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