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

8621 Sparrow Desert Avenue Las Vegas, NV 89148

4 Beds 3 Baths 2,868 sqft Built 2017

$472,800

List Price

$2,050

$1.8K - $2.3K

Rent Est.

PROPERTY INFO

January 16, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2017
  • Price/Sqft : $164.85
  • 3 Days on Market
  • MLS # : 2262099
  • Updated Date : 01/16/2021 at 21:45
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,868 sqft
  • Baths : 2 full , 1 half
Listing Agent

North American Realty Of Nv

Listing Agent's Description

Beautiful Newer Up-to-Date home (built 2017) in the SouthWest area! 2868 sqft, 4 bed/2.5 baths. Large bedrooms, Expresso Cabinetry, Granite Countertops throughout. The Kitchen has Upgraded SS Appliances with a Double Oven, Viking Stovetop & Walk-in Pantry. Ceramic Tile Floors in the main areas downstairs, Huge Loft that could be another Bedroom! Ceiling fans throughout, Covered Patio with an easy to care Landscaped Backyard with an automatic drip system. It will be hard not to love this home! Buyer/Buyer Agent to verify all info.

SEE MORE

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
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
 

$425,520$520,080$472,800

PURCHASE PRICE

$1,845$2,255$2,050

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,050
EXPENSES Loan Payment -$1,642
Property Tax -$355
Property Insurance -$83
Property Management Fees -$119
CASH FLOW
-$148

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.

$472,800

PROJECTED PRICE

$2,050

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$131,042

INVESTMENT

$131,042

Down Payment
$118,200
Rehab Estimate
$5,750
Closing Costs
$7,092

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,642

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $118,200
Loan Amount $354,600
See What Happens When You Reinvest Cash Flow

4.17

YEARS SAVED

$18,479

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,050

    LIST RENT
  • $0.71

    LIST RENT PER SQFT
  • $2,051

    COMP ESTIMATED VALUE
  • $0.72

    COMP AVG. RENT PER SQFT
Comps Range
$1,750
1$1,7502$1,8623$2,0504$2,1005$2,195
$2,195
RENT COMPS ANALYSIS
  • 8621 Sparrow Desert Avenue Las Vegas, NV 3
    • 4 beds 3 baths ∙ 2,868 Sqft ∙ Built 2017 4 beds 3 baths ∙ 2,868 Sqft ∙ Built 2017
    • Rent
    • Rent Per SQFT
    •  
    • $2,050
    • $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
    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
    •  
  • 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
    •  
  • 65 Crooked Putter Drive Las Vegas, NV 5
    • 4 beds 2 baths ∙ 3,015 Sqft ∙ Built 2011 4 beds 2 baths ∙ 3,015 Sqft ∙ Built 2011
    LEASED 05/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,195
    • $0.73
    •  
PROPERTY LISTING DETAILS
Tammi Bryant
1.702.538.5758
North American Realty Of Nv
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2262099
Last Updated: 01/16/2021
BESbswy