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8621 Catalonia Drive Las Vegas, NV 89117

2 Beds 1 Baths 1,250 sqft Built 1985

$330,000

List Price

$1,400

$1.3K - $1.5K

Rent Est.

PROPERTY INFO

November 28, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1985
  • Price/Sqft : $264.00
  • 3 Days on Market
  • MLS # : 2250798
  • Updated Date : 11/27/2020 at 23:00
CONSTRUCTION
  • Beds : 2
  • Floor Size : 1,250 sqft
  • Baths : 1 full
Listing Agent

Keller Williams Southern Nevada

Listing Agent's Description

This House Passes the Vibe Check. Totally Rehabbed, Mid-Century Modern Bohemian Style. Entry Leads into Great Room with Massive New 8x8 Slider Opening to Inviting Outdoor Living Space. Nothing Left Undone in This One Story in The Lakes. Fantastic Location Near Shopping and Amenities. Brand NEW Milgard Windows, High Ceilings, Tons of Natural Light! This House Runs Fully on the OWNED Solar Panels-NO Solar Lease! Brand New A/C and Ductwork with a LIFETIME WARRANTY. Better Than a New Home! Kitchen Remodeled - New Soft-Close Cabinets, New Appliances, Gorgeous Sealed Butcher Block Counters - Opens Into Dining Area. Beautiful Gas Fireplace Focal Point. Wood-Look Tile Throughout, Easy to Clean and NO Carpet! Modern Teak Vanities & New Showers with Rain Showerheads in the Bathrooms. Full Home Gym Set Up in Insulated Garage! Get Your Groceries Delivered and You Never Have To Leave!

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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: 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
 

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

PURCHASE PRICE

$1,260$1,540$1,400

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,400
EXPENSES Loan Payment -$1,218
Property Tax -$166
Property Insurance -$51
Property Management Fees -$119
CASH FLOW
-$154

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

$1,400

PROJECTED RENT

0.42%

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-$5.0k$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$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 55% 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

3.67

YEARS SAVED

$13,181

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,400

    LIST RENT
  • $1.12

    LIST RENT PER SQFT
  • $1,275

    COMP ESTIMATED VALUE
  • $1.02

    COMP AVG. RENT PER SQFT
Comps Range
$1,050
1$1,0502$1,3253$1,3954$1,4005$1,500
$1,500
RENT COMPS ANALYSIS
  • 8621 Catalonia Drive Las Vegas, NV 4
    • 2 beds 1 baths ∙ 1,250 Sqft ∙ Built 1985 2 beds 1 baths ∙ 1,250 Sqft ∙ Built 1985
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,400
    • $1.12
    •  
  • 9070 Spring Mountain Road #201 Las Vegas, NV 1
    • 2 beds 2 baths ∙ 1,072 Sqft ∙ Built 1993 2 beds 2 baths ∙ 1,072 Sqft ∙ Built 1993
    property image
    LEASED 07/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,050
    • $0.98
    •  
  • 8672 Toscana Lane Las Vegas, NV 2
    • 2 beds 2 baths ∙ 1,250 Sqft ∙ Built 1987 2 beds 2 baths ∙ 1,250 Sqft ∙ Built 1987
    property image
    LEASED 04/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,325
    • $1.06
    •  
  • 8849 Clear Blue Drive Las Vegas, NV 3
    • 2 beds 3 baths ∙ 1,389 Sqft ∙ Built 1987 2 beds 3 baths ∙ 1,389 Sqft ∙ Built 1987
    property image
    LEASED 12/17/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,395
    • $1.00
    •  
  • 2858 Anteres Street Las Vegas, NV 5
    • 2 beds 2 baths ∙ 1,448 Sqft ∙ Built 1998 2 beds 2 baths ∙ 1,448 Sqft ∙ Built 1998
    property image
    LEASED 01/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $1.04
    •  
PROPERTY LISTING DETAILS
Genevieve M Harakidas
1.702.325.6655
Keller Williams Southern Nevada
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2250798
Last Updated: 11/27/2020
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