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8617 Splendid Leaf Court Las Vegas, NV 89178

3 Beds 3 Baths 1,979 sqft Built 2007

$330,000

List Price

$1,600

$1.4K - $1.8K

Rent Est.

PROPERTY INFO

December 26, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2007
  • Price/Sqft : $166.75
  • 2 Days on Market
  • MLS # : 2257598
  • Updated Date : 12/26/2020 at 08:41
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,979 sqft
  • Baths : 2 full , 1 half
Listing Agent

Keller Williams Realty Las Vegas

Listing Agent's Description

Immaculately-kept two-story home on a corner lot in Maravilla at Mountain’s Edge. This 3 bedroom + loft, 2.5 bath and 2-bay garage home features wood flooring, plantation shutters throughout, granite countertops in the kitchen, water-softening system, separate family and living room, wood stair banisters, large enclosed side-yard, covered patio, covered front and side porch areas, balcony off second bedroom, and ceiling fans throughout. The home is located down the street from both the Nathaniel Jones Park and Mountain’s Edge Regional Park, with easy access to the central Mountain’s Edge walking/jogging trail that leads to Exploration Peak Park. Convenient access to both the 215 Beltway, Blue Diamond Road and Red Rock National Conservation area.

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: Mountain Edge

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320k340k360kPrice in $119k362k

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

Neighborhood: Mountain Edge

NeighborhoodNIR Market*CityMarket2010Year20002019 Q211001200130014001500160017001800Rent in $10391875

* 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
William V. Wright Elementary School Primary Regular 1,256 62 8
Lawrence And Heidi Canarelli Middle School Middle Regular 1,802 70 NA
Desert Oasis High School High Regular 2,417 102 5

William V. Wright Elementary School

  • Education Level: Primary
  • # of students: 1,256
  • # of teachers: 62
8
GreatSchools Rating

Lawrence And Heidi Canarelli Middle School

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

Desert Oasis High School

  • Education Level: High
  • # of students: 2,417
  • # of teachers: 102
5
GreatSchools Rating
 

$297,000$363,000$330,000

PURCHASE PRICE

$1,440$1,760$1,600

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,600
EXPENSES Loan Payment -$1,218
Property Tax -$237
Property Insurance -$66
Property Management Fees -$119
CASH FLOW
-$39

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.

$330,000

PROJECTED PRICE

$1,600

PROJECTED RENT

0.48%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.05%
Appreciation Year (1-5) 8.4%
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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$93,200

INVESTMENT

$93,200

Down Payment
$82,500
Rehab Estimate
$5,750
Closing Costs
$4,950

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,218

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $82,500
Loan Amount $247,500
See What Happens When You Reinvest Cash Flow

5.42

YEARS SAVED

$22,603

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,600

    LIST RENT
  • $0.81

    LIST RENT PER SQFT
  • $1,633

    COMP ESTIMATED VALUE
  • $0.83

    COMP AVG. RENT PER SQFT
Comps Range
$1,499
1$1,4992$1,5503$1,5504$1,6005$1,600
$1,600
RENT COMPS ANALYSIS
  • 8617 Splendid Leaf Court Las Vegas, NV 5
    • 3 beds 3 baths ∙ 1,979 Sqft ∙ Built 2007 3 beds 3 baths ∙ 1,979 Sqft ∙ Built 2007
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $0.81
    •  
  • 9858 Santa Ponsa Court Las Vegas, NV 1
    • 4 beds 3 baths ∙ 1,884 Sqft ∙ Built 2006 4 beds 3 baths ∙ 1,884 Sqft ∙ Built 2006
    LEASED 03/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,499
    • $0.80
    •  
  • 10072 Riley Street Las Vegas, NV 2
    • 4 beds 3 baths ∙ 1,898 Sqft ∙ Built 2007 4 beds 3 baths ∙ 1,898 Sqft ∙ Built 2007
    LEASED 02/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $0.82
    •  
  • 8643 Rowland Bluff Avenue Las Vegas, NV 3
    • 3 beds 3 baths ∙ 1,885 Sqft ∙ Built 2014 3 beds 3 baths ∙ 1,885 Sqft ∙ Built 2014
    LEASED 10/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $0.82
    •  
  • 8751 Autumn Teal Avenue Las Vegas, NV 4
    • 3 beds 3 baths ∙ 1,852 Sqft ∙ Built 2011 3 beds 3 baths ∙ 1,852 Sqft ∙ Built 2011
    LEASED 10/26/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $0.86
    •  
PROPERTY LISTING DETAILS
Jason J Schielke
1.702.858.7598
Keller Williams Realty Las Vegas
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2257598
Last Updated: 12/26/2020
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