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8563 Burning Bridge Court Las Vegas, NV 89131

3 Beds 2 Baths 2,173 sqft Built 2009

$353,000

List Price

$1,610

$1.4K - $1.8K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
February 26, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2009
  • Price/Sqft : $162.45
  • 4 Days on Market
  • MLS # : 2272447
  • Updated Date : 02/26/2021 at 05:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,173 sqft
  • Baths : 2 full
Listing Agent

Love Local Real Estate

Listing Agent's Description

Hurry up to see this one! Absolutely gorgeous cottage style interior. Wonderful Northwest two story home on a cul-de-sac in the Brentwood Cove community. Amazing, upgraded kitchen, glass front cabinets and spacious wrap around dining area. Master suite is a getaway of its own with a built in wall unit and dual walk-in closets. Featured in the home are the craftsman style window casements! The den contains a full built in entertainment center, while the upstairs loft boasts an incredible space for a second living room or home office. You may never leave the house again-EXCEPT to enjoy your beautiful backyard with flower garden and spacious cement patio area.

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: Centennial Hills

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320k340k360kPrice in $119k362k

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

Neighborhood: Centennial Hills

NeighborhoodNIR Market*CityMarket2010Year20002019 Q211001200130014001500160017001800Rent in $10761875

* 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
Kitty Mcdonough Ward Elementary School Primary Regular 830 43 9
Anthony Saville Middle School Middle Regular 1,494 58 NA
Shadow Ridge High School High Regular 2,697 105 6

Kitty Mcdonough Ward Elementary School

  • Education Level: Primary
  • # of students: 830
  • # of teachers: 43
9
GreatSchools Rating

Anthony Saville Middle School

  • Education Level: Middle
  • # of students: 1,494
  • # of teachers: 58
NA
GreatSchools Rating

Shadow Ridge High School

  • Education Level: High
  • # of students: 2,697
  • # of teachers: 105
6
GreatSchools Rating
 

$317,700$388,300$353,000

PURCHASE PRICE

$1,449$1,771$1,610

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,610
EXPENSES Loan Payment -$1,226
Property Tax -$279
Property Insurance -$69
Property Management Fees -$119
CASH FLOW
-$83

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.

$353,000

PROJECTED PRICE

$1,610

PROJECTED RENT

0.46%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.05%
Appreciation Year (1-5) 10.3%
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

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$1.2M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$99,295

INVESTMENT

$99,295

Down Payment
$88,250
Rehab Estimate
$5,750
Closing Costs
$5,295

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,226

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $88,250
Loan Amount $264,750
See What Happens When You Reinvest Cash Flow

4.5

YEARS SAVED

$15,828

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,610

    LIST RENT
  • $0.74

    LIST RENT PER SQFT
  • $1,695

    COMP ESTIMATED VALUE
  • $0.78

    COMP AVG. RENT PER SQFT
Comps Range
$1,610
1$1,6102$1,6993$1,7504$1,7955$1,840
$1,840
RENT COMPS ANALYSIS
  • 8563 Burning Bridge Court Las Vegas, NV 1
    • 3 beds 2 baths ∙ 2,173 Sqft ∙ Built 2009 3 beds 2 baths ∙ 2,173 Sqft ∙ Built 2009
    • Rent
    • Rent Per SQFT
    •  
    • $1,610
    • $0.74
    •  
  • 5329 Jackson Valley Court Las Vegas, NV 2
    • 4 beds 3 baths ∙ 2,093 Sqft ∙ Built 2005 4 beds 3 baths ∙ 2,093 Sqft ∙ Built 2005
    LEASED 01/29/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,699
    • $0.81
    •  
  • 5133 Welch Valley Avenue Las Vegas, NV 3
    • 4 beds 3 baths ∙ 2,318 Sqft ∙ Built 2005 4 beds 3 baths ∙ 2,318 Sqft ∙ Built 2005
    LEASED 11/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.75
    •  
  • 8608 Painted Horseshoe Street Las Vegas, NV 4
    • 4 beds 3 baths ∙ 2,318 Sqft ∙ Built 2005 4 beds 3 baths ∙ 2,318 Sqft ∙ Built 2005
    LEASED 02/01/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,795
    • $0.77
    •  
  • 8637 Dodds Canyon Street Las Vegas, NV 5
    • 4 beds 3 baths ∙ 2,318 Sqft ∙ Built 2006 4 beds 3 baths ∙ 2,318 Sqft ∙ Built 2006
    LEASED 02/11/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,840
    • $0.79
    •  
PROPERTY LISTING DETAILS
Gregory S Martin
1.702.334.9552
Love Local Real Estate
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2272447
Last Updated: 02/26/2021
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