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8528 Sierra Cima Lane Las Vegas, NV 89128

3 Beds 3 Baths 2,210 sqft Built 1994

$439,995

List Price

$1,810

$1.6K - $2K

Rent Est.

PROPERTY INFO

November 06, 2020 RECENTLY ADDED
FACTS
  • Built In 1994
  • Price/Sqft : $199.09
  • 4 Days on Market
  • MLS # : 2246275
  • Updated Date : 11/05/2020 at 21:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,210 sqft
  • Baths : 2 full , 1 half
Listing Agent

Simply Vegas

Listing Agent's Description

OWC with only $40K Down. Over 2200 SF of well maintained and upgraded living in Summerlin North! 3 BR and 2.5 BA featuring massive master BR with walk-in closet. Great amount of space downstairs to accommodate any type of furniture setup with easy to covered patio in the backyard for indoor/outdoor entertaining. Granite countertops in the kitchen and bathrooms and plantation shutters throughout the house! Home is available and ready for move in! OWC ($40K Down, 6.99% for 5-8 years. Cannot refi for first 3 years or there is a 3% penalty)

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: The Pueblo

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300kPrice in $119k316k

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

Neighborhood: The Pueblo

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2110012001300140015001600170018001900Rent in $10761921

* 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
Richard H Bryan Elementary School Primary Regular 617 32 8
Ernest Becker Middle School Middle Regular 1,392 56 NA
Cimarron Memorial High School High Regular 2,541 102 3

Richard H Bryan Elementary School

  • Education Level: Primary
  • # of students: 617
  • # of teachers: 32
8
GreatSchools Rating

Ernest Becker Middle School

  • Education Level: Middle
  • # of students: 1,392
  • # of teachers: 56
NA
GreatSchools Rating

Cimarron Memorial High School

  • Education Level: High
  • # of students: 2,541
  • # of teachers: 102
3
GreatSchools Rating
 

$395,996$483,995$439,995

PURCHASE PRICE

$1,629$1,991$1,810

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,810
EXPENSES Loan Payment -$1,623
Property Tax -$234
Property Insurance -$70
Property Management Fees -$119
CASH FLOW
-$236

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.

$439,995

PROJECTED PRICE

$1,810

PROJECTED RENT

0.41%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.96%
Appreciation Year (1-5) 8.8%
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$1.2M$1.4M

PROJECTED ANNUAL CASH FLOW

11530-$5.0k$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$1.2M$1.4M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$122,349

INVESTMENT

$122,349

Down Payment
$109,999
Rehab Estimate
$5,750
Closing Costs
$6,600

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,623

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $109,999
Loan Amount $329,996
See What Happens When You Reinvest Cash Flow

3.42

YEARS SAVED

$14,859

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,810

    LIST RENT
  • $0.82

    LIST RENT PER SQFT
  • $2,022

    COMP ESTIMATED VALUE
  • $0.92

    COMP AVG. RENT PER SQFT
Comps Range
$1,800
1$1,8002$1,8103$1,9004$2,0005$2,135
$2,135
RENT COMPS ANALYSIS
  • 8528 Sierra Cima Lane Las Vegas, NV 2
    • 3 beds 3 baths ∙ 2,210 Sqft ∙ Built 1994 3 beds 3 baths ∙ 2,210 Sqft ∙ Built 1994
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,810
    • $0.82
    •  
  • 8600 Sierra Cima Lane Las Vegas, NV 1
    • 3 beds 3 baths ∙ 2,040 Sqft ∙ Built 1995 3 beds 3 baths ∙ 2,040 Sqft ∙ Built 1995
    property image
    LEASED 10/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $0.88
    •  
  • 1705 Plata Pico Drive Las Vegas, NV 3
    • 3 beds 3 baths ∙ 2,040 Sqft ∙ Built 1994 3 beds 3 baths ∙ 2,040 Sqft ∙ Built 1994
    property image
    LEASED 03/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,900
    • $0.93
    •  
  • 1620 Plata Pico Las Vegas, NV 4
    • 3 beds 3 baths ∙ 2,210 Sqft ∙ Built 1994 3 beds 3 baths ∙ 2,210 Sqft ∙ Built 1994
    property image
    LEASED 03/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $0.90
    •  
  • 8412 Willow Point Court Las Vegas, NV 5
    • 4 beds 2 baths ∙ 2,244 Sqft ∙ Built 1995 4 beds 2 baths ∙ 2,244 Sqft ∙ Built 1995
    property image
    LEASED 08/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,135
    • $0.95
    •  
PROPERTY LISTING DETAILS
Sandra Lambert
1.702.324.1029
Simply Vegas
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2246275
Last Updated: 11/05/2020
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