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8615 Tortoise Canyon Court Las Vegas, NV 89148

4 Beds 3 Baths 2,868 sqft Built 2015

$475,000

List Price

$2,030

$1.8K - $2.2K

Rent Est.

PROPERTY INFO

November 12, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2015
  • Price/Sqft : $165.62
  • 4 Days on Market
  • MLS # : 2247711
  • Updated Date : 11/12/2020 at 21:35
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,868 sqft
  • Baths : 2 full , 1 half
Listing Agent

Nevada Real Estate Corp

Listing Agent's Description

IMMACULATE 2 STORY GATED- HOUSE IN SOUTHWEST AREA BY RHODES RANCH, HIGHLY UPGRADED CABINET WITH GRANITE COUNTERTOP, HUGE ISLAND AND STAINLESS APPLIANCES, NICE SIZE PANTRY FOR ALL YOUR STORAGE NEED, GORGEOUS 18X18 NEUTRAL TILES, WITH TWO-TONE PAINT, HIGHLY UPGRADED SHOWER IN THE MASTER BATHROOM, HUGE LOFT AREA TO ENTERTAIN YOUR FAMILY, POOL SIZE YARD

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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)

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
Don And Dee Snyder Elementary School Primary Unknown NA
Lawrence And Heidi Canarelli Middle School Middle Regular 1,802 70 NA
Sierra Vista High School High Regular 2,396 88 4

Don And Dee Snyder Elementary School

  • Education Level: Primary
  • # of students:
  • # of teachers:
NA
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
 

$427,500$522,500$475,000

PURCHASE PRICE

$1,827$2,233$2,030

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,030
EXPENSES Loan Payment -$1,753
Property Tax -$345
Property Insurance -$83
Property Management Fees -$119
CASH FLOW
-$270

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.

$475,000

PROJECTED PRICE

$2,030

PROJECTED RENT

0.43%

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$200k$400k$600k$800k$1.0M$1.2M$1.4M$1.6M

PROJECTED ANNUAL CASH FLOW

11530-$5.0k$0.0$5.0k$10k$15k$20k

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$131,625

INVESTMENT

$131,625

Down Payment
$118,750
Rehab Estimate
$5,750
Closing Costs
$7,125

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,753

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $118,750
Loan Amount $356,250
See What Happens When You Reinvest Cash Flow

3.17

YEARS SAVED

$14,389

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,030

    LIST RENT
  • $0.71

    LIST RENT PER SQFT
  • $2,022

    COMP ESTIMATED VALUE
  • $0.71

    COMP AVG. RENT PER SQFT
Comps Range
$1,750
1$1,7502$1,8623$2,0304$2,1955$2,300
$2,300
RENT COMPS ANALYSIS
  • 8615 Tortoise Canyon Court Las Vegas, NV 3
    • 4 beds 3 baths ∙ 2,868 Sqft ∙ Built 2015 4 beds 3 baths ∙ 2,868 Sqft ∙ Built 2015
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,030
    • $0.71
    •  
  • 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
    property image
    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
    property image
    LEASED 03/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,862
    • $0.70
    •  
  • 65 Crooked Putter Drive Las Vegas, NV 4
    • 4 beds 2 baths ∙ 3,015 Sqft ∙ Built 2011 4 beds 2 baths ∙ 3,015 Sqft ∙ Built 2011
    property image
    LEASED 05/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,195
    • $0.73
    •  
  • 92 Honors Course Drive Las Vegas, NV 5
    • 3 beds 3 baths ∙ 3,064 Sqft ∙ Built 2009 3 beds 3 baths ∙ 3,064 Sqft ∙ Built 2009
    property image
    LEASED 06/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $0.75
    •  
PROPERTY LISTING DETAILS
Amy Yu
1.702.338.3818
Nevada Real Estate Corp
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2247711
Last Updated: 11/12/2020
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