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8586 Monument Lake Court Las Vegas, NV 89113

4 Beds 3 Baths 2,800 sqft Built 2013

$625,000

List Price

$2,590

$2.3K - $2.8K

Rent Est.

PROPERTY INFO

FACTS
  • Single Family
  • Built In 2013
  • Price/Sqft : $223.21
  • 9 Days on Market
  • MLS # : 2268208
  • Updated Date : 02/10/2021 at 17:06
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,800 sqft
  • Baths : 3 full
Listing Agent

First Full Service Realty

Listing Agent's Description

STUNNING, IMMACULATE 4 bed 3 bath single story nestled gated the community of the much sought after Durango Trails in the Southwest. This Cul De Sac home boasts many upgrades! Beautiful hardwood floors, Central Vac, surround sound system, oasis backyard with Brazilian pavers and tiled covered patio, 2 built in BBQs, Fire pit table top, sink, granite counter tops, multiple fruit trees. Chef's kitchen with granite counter tops, custom cabinets, stainless steel appliances, island, convection oven & cook top, built in oven and microwave. Separate den/office. Large master bedroom with walk in custom closet, huge master bath with custom shower and extra large tub. Over-sized bedrooms. LOVE THIS laundry room with granite counters tops and plenty of cabinets. Can you say security?!! Elaborate home security system with several cameras! Rolladan shutters throughout! These owners have taken meticulous care of this home inside and out. Absolutely clean and flawless. Better hurry! Won't last!

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MARKET HIGHLIGHTS

  • 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)
  • As the largest share, Las Vegas metro contributes to 75.1% of Nevada state's economy i.e. Gross State Product (USMayors.org, 2018)

PRICE & RENT TRENDS

Neighborhood: Enterprise

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320k340k360kPrice in $119k362k

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

Neighborhood: Enterprise

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2100011001200130014001500160017001800Rent in $9981875

* 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
Judi D. Steele Elementary School Primary Regular 858 43 8
Lawrence And Heidi Canarelli Middle School Middle Regular 1,802 70 NA
Sierra Vista High School High Regular 2,396 88 4

Judi D. Steele Elementary School

  • Education Level: Primary
  • # of students: 858
  • # of teachers: 43
8
GreatSchools Rating

Lawrence And Heidi Canarelli Middle School

  • Education Level: Middle
  • # of students: 1,802
  • # of teachers: 70
NA
GreatSchools Rating

Sierra Vista High School

  • Education Level: High
  • # of students: 2,396
  • # of teachers: 88
4
GreatSchools Rating
 

$562,500$687,500$625,000

PURCHASE PRICE

$2,331$2,849$2,590

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,590
EXPENSES Loan Payment -$2,171
Property Tax -$392
Property Insurance -$81
Property Management Fees -$119
CASH FLOW
-$173

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.

$625,000

PROJECTED PRICE

$2,590

PROJECTED RENT

0.41%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.05%
Appreciation Year (1-5) 9.8%
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$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$500k$1.0M$1.5M$2.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$171,375

INVESTMENT

$171,375

Down Payment
$156,250
Rehab Estimate
$5,750
Closing Costs
$9,375

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,171

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $156,250
Loan Amount $468,750
See What Happens When You Reinvest Cash Flow

4.42

YEARS SAVED

$26,852

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,590

    LIST RENT
  • $0.93

    LIST RENT PER SQFT
  • $2,037

    COMP ESTIMATED VALUE
  • $0.73

    COMP AVG. RENT PER SQFT
Comps Range
$1,750
1$1,7502$1,8623$2,0504$2,1005$2,590
$2,590
RENT COMPS ANALYSIS
  • 8586 Monument Lake Court Las Vegas, NV 5
    • 4 beds 3 baths ∙ 2,800 Sqft ∙ Built 2013 4 beds 3 baths ∙ 2,800 Sqft ∙ Built 2013
    • Rent
    • Rent Per SQFT
    •  
    • $2,590
    • $0.93
    •  
  • 8685 Sparrow Desert Las Vegas, NV 1
    • 4 beds 3 baths ∙ 2,727 Sqft ∙ Built 2015 4 beds 3 baths ∙ 2,727 Sqft ∙ Built 2015
    LEASED 04/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.64
    •  
  • 752 Oak Hills Course Drive Las Vegas, NV 2
    • 4 beds 3 baths ∙ 2,668 Sqft ∙ Built 2010 4 beds 3 baths ∙ 2,668 Sqft ∙ Built 2010
    LEASED 03/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,862
    • $0.70
    •  
  • 933 Kimbark Avenue Las Vegas, NV 3
    • 4 beds 3 baths ∙ 2,612 Sqft ∙ Built 2016 4 beds 3 baths ∙ 2,612 Sqft ∙ Built 2016
    LEASED 02/01/21
    • Rent
    • Rent Per SQFT
    •  
    • $2,050
    • $0.78
    •  
  • 36 Augusta Course Avenue Las Vegas, NV 4
    • 4 beds 3 baths ∙ 2,668 Sqft ∙ Built 2010 4 beds 3 baths ∙ 2,668 Sqft ∙ Built 2010
    LEASED 12/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $0.79
    •  
PROPERTY LISTING DETAILS
Ruchelle R Stuart
1.702.373.9939
First Full Service Realty
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2268208
Last Updated: 02/10/2021
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