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8507 Oquendo Road Las Vegas, NV 89113

4 Beds 4 Baths 3,428 sqft Built 2016

INVESTimate

$550,000

List Price

$2,550

$2,300 - $2,800

Rent Est.

$602,855  ( +9.61%)   1 YR EST. FORECAST

PROPERTY INFO

FACTS
  • Built In 2016
  • Price/Sqft : $160.44
  • 9 Days on Market
  • MLS # : 2218560
  • Updated Date : 08/25/2020 at 10:11
CONSTRUCTION
  • Beds : 4
  • Floor Size : 3,428 sqft
  • Baths : 3 full , 1 half
Listing Agent

Bhhs Nevada Properties

Listing Agent's Description

Turnkey former model home filled with designer-selected upgrades and appointments! Charming courtyard along with professionally designed landscape welcomes you. Two master suites, one up and one down, plus a loft and a den offer convenience. Highlights include hardwood flooring, shutters, two-tone interior paint scheme, upgraded open stair rail, granite kitchen countertops with tile backsplash, stainless steel kitchen appliances, apron sink, extended kitchen island, custom built-in cabinets in loft, closet organizer in master bedroom, freestanding tub in spa inspired master bath, upgraded vanity and tile shower surround in master bath, thermostat with remote access, soft water loop, tankless water heater, surround sound pre-wire, alarm system pre-wire, paver driveway and walkway, rear covered patio, covered deck at master bedroom. It is spacious and family-friendly with four bedrooms plus a loft and a den. Ideally located in Southwest Las Vegas near Technology Park, and IKEA.

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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: Sovana

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320kPrice in $119k321k

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

Neighborhood: Sovana

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21100115012001250130013501400145015001550160016501700Rent in $10701722

* 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
Lucille Rogers Elementary School Primary Regular 775 43 9
Grant Sawyer Middle School Middle Regular 1,308 52 NA
Durango High School High Regular 2,302 95 5

Lucille Rogers Elementary School

  • Education Level: Primary
  • # of students: 775
  • # of teachers: 43
9
GreatSchools Rating

Grant Sawyer Middle School

  • Education Level: Middle
  • # of students: 1,308
  • # of teachers: 52
NA
GreatSchools Rating

Durango High School

  • Education Level: High
  • # of students: 2,302
  • # of teachers: 95
5
GreatSchools Rating
 

$495,000$605,000$550,000

PURCHASE PRICE

$2,295$2,805$2,550

RENT

DOWN PAYMENT
FINANCING

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

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,550
EXPENSES Loan Payment -$2,029
Property Tax -$388
Property Insurance -$94
HOA -$61
Property Management Fees -$119
CASH FLOW
-$141

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.

$550,000

PROJECTED PRICE

$2,550

PROJECTED RENT

0.46%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.96%
Appreciation Year (1-5) 9.61%
Maintenance Year (1-5) 8.00%
Vacancy 7.63%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$151,500

INVESTMENT

$151,500

Down Payment
$137,500
Rehab Estimate
$5,750
Closing Costs
$8,250

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,029

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $137,500
Loan Amount $412,500
See What Happens When You Reinvest Cash Flow

4.42

YEARS SAVED

$28,487

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,550

    LIST RENT
  • $0.74

    LIST RENT PER SQFT
  • $2,177

    COMP ESTIMATED VALUE
  • $0.63

    COMP AVG. RENT PER SQFT
Comps Range
$1,900
1$1,9002$2,0003$2,4004$2,4005$2,550
$2,550
RENT COMPS ANALYSIS
  • 8507 Oquendo Road Las Vegas, NV 5
    • 4 beds 4 baths ∙ 3,428 Sqft ∙ Built 2016 4 beds 4 baths ∙ 3,428 Sqft ∙ Built 2016
    • Rent
    • Rent Per SQFT
    •  
    • $2,550
    • $0.74
    •  
  • 7936 Lisa Marie Court Las Vegas, NV 1
    • 5 beds 2 baths ∙ 3,105 Sqft ∙ Built 2001 5 beds 2 baths ∙ 3,105 Sqft ∙ Built 2001
    LEASED 03/01/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,900
    • $0.61
    •  
  • 6119 Andover Wood Road Las Vegas, NV 2
    • 5 beds 5 baths ∙ 3,466 Sqft ∙ Built 2018 5 beds 5 baths ∙ 3,466 Sqft ∙ Built 2018
    LEASED 05/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $0.58
    •  
  • 4882 Stavanger Lane Las Vegas, NV 3
    • 4 beds 4 baths ∙ 3,668 Sqft ∙ Built 1997 4 beds 4 baths ∙ 3,668 Sqft ∙ Built 1997
    LEASED 10/21/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,400
    • $0.65
    •  
  • 8371 Baden Westwood Lane Las Vegas, NV 4
    • 5 beds 2 baths ∙ 3,429 Sqft ∙ Built 2018 5 beds 2 baths ∙ 3,429 Sqft ∙ Built 2018
    LEASED 01/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,400
    • $0.70
    •  
PROPERTY LISTING DETAILS
Leslie S Carver
1.702.436.3615
Bhhs Nevada Properties
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2218560
Last Updated: 08/25/2020
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