Work with a dedicated Real Estate Advisor who will take your financial preferences and help you select and acquire properties that fit your criteria. Learn more

8620 Spruce Lake Circle Las Vegas, NV 89117

3 Beds 3 Baths 1,564 sqft Built 1987

$328,888

List Price

$1,440

$1.3K - $1.6K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 04, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1987
  • Price/Sqft : $210.29
  • 4 Days on Market
  • MLS # : 2275818
  • Updated Date : 03/04/2021 at 18:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,564 sqft
  • Baths : 2 full , 1 half
Listing Agent

Triumph Property Management Co

Listing Agent's Description

SPACIOUS 3 bedroom home located in The Lakes! A secluded, master-planned community - just minutes from Downtown Summerlin, shopping, and restaurants. The primary bedroom features an ensuite bathroom, walk-in closet and a large bonus room! Two bedrooms that also includes ceiling fans and sliding door closet. Cozy living room with a fireplace leads to the backyard with landscaping. Throughout the home, there are updated light fixtures. This could be your home, or also an opportunity as an investment property! Current month to month tenant pays $1,425 month*Do not disturb tenant*Offer is subject to.

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: West Sahara

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300kPrice in $119k308k

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

Neighborhood: West Sahara

NeighborhoodNIR Market*CityMarket2010Year20002019 Q211001150120012501300135014001450150015501600Rent in $10621618

* 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
M.j. Christensen Elementary School Primary Regular 615 34 6
Lawrence Junior High School Middle Regular 1,421 61 NA
Spring Valley High School High Regular 1,925 79 4

M.j. Christensen Elementary School

  • Education Level: Primary
  • # of students: 615
  • # of teachers: 34
6
GreatSchools Rating

Lawrence Junior High School

  • Education Level: Middle
  • # of students: 1,421
  • # of teachers: 61
NA
GreatSchools Rating

Spring Valley High School

  • Education Level: High
  • # of students: 1,925
  • # of teachers: 79
4
GreatSchools Rating
 

$295,999$361,777$328,888

PURCHASE PRICE

$1,296$1,584$1,440

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,440
EXPENSES Loan Payment -$1,142
Property Tax -$153
Property Insurance -$58
Property Management Fees -$119
CASH FLOW
-$32

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.

$328,888

PROJECTED PRICE

$1,440

PROJECTED RENT

0.44%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.96%
Appreciation Year (1-5) 10.0%
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

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$92,905

INVESTMENT

$92,905

Down Payment
$82,222
Rehab Estimate
$5,750
Closing Costs
$4,933

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,142

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $82,222
Loan Amount $246,666
See What Happens When You Reinvest Cash Flow

5.5

YEARS SAVED

$19,276

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,440

    LIST RENT
  • $0.92

    LIST RENT PER SQFT
  • $1,591

    COMP ESTIMATED VALUE
  • $1.02

    COMP AVG. RENT PER SQFT
Comps Range
$1,440
1$1,4402$1,4503$1,5504$1,5505$1,595
$1,595
RENT COMPS ANALYSIS
  • 8620 Spruce Lake Circle Las Vegas, NV 1
    • 3 beds 3 baths ∙ 1,564 Sqft ∙ Built 1987 3 beds 3 baths ∙ 1,564 Sqft ∙ Built 1987
    • Rent
    • Rent Per SQFT
    •  
    • $1,440
    • $0.92
    •  
  • 8294 Sterling Harbor Court Las Vegas, NV 2
    • 3 beds 2 baths ∙ 1,423 Sqft ∙ Built 2001 3 beds 2 baths ∙ 1,423 Sqft ∙ Built 2001
    LEASED 10/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $1.02
    •  
  • 3314 Cave Primrose Street Las Vegas, NV 3
    • 3 beds 3 baths ∙ 1,544 Sqft ∙ Built 2006 3 beds 3 baths ∙ 1,544 Sqft ∙ Built 2006
    LEASED 07/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $1.00
    •  
  • 8089 Kentshire Drive Las Vegas, NV 4
    • 3 beds 3 baths ∙ 1,527 Sqft ∙ Built 1996 3 beds 3 baths ∙ 1,527 Sqft ∙ Built 1996
    LEASED 02/01/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $1.02
    •  
  • 8641 Trafalgar Drive #0 Las Vegas, NV 5
    • 3 beds 2 baths ∙ 1,542 Sqft ∙ Built 1986 3 beds 2 baths ∙ 1,542 Sqft ∙ Built 1986
    LEASED 11/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $1.03
    •  
PROPERTY LISTING DETAILS
Kamyar Zargari
1.702.367.2323
Triumph Property Management Co
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2275818
Last Updated: 03/04/2021
BESbswy