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8625 Apiary Wind Street Las Vegas, NV 89131

4 Beds 3 Baths 2,791 sqft Built 2005

INVESTimate

$424,900

List Price

$2,050

$1,845 - $2,255

Rent Est.

$468,750  ( +10.32%)   1 YR EST. FORECAST

PROPERTY INFO

August 24, 2020 RECENTLY ADDED
FACTS
  • Built In 2005
  • Price/Sqft : $152.24
  • 3 Days on Market
  • MLS # : 2224354
  • Updated Date : 08/24/2020 at 14:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,791 sqft
  • Baths : 2 full , 1 half
Listing Agent

Exp Realty

Listing Agent's Description

Located in the NW community of Iron Mountain Ranch. A beautiful park/playground area is located in this subdivision at the entry of the community. 2 story 4 bedroom 2 1/2 bath with a loft and a 3 car garage. Huge yard with a private pool. A massive living/family room at the entry of the home. The kitchen with granite counters, a kitchen island and tile floors and dining nook. Huge master bedroom upstairs. The master bath has dual sinks and a separate tub and shower as well as a large walk in closet. There is a loft/bonus area plus 3 additional bedrooms upstairs separate from the master bedroom. Backyard with desert rock landscaping and a large pool. Dog run to the side of the home.

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: Centennial Hills

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320k340k360kPrice in $119k362k

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

Neighborhood: Centennial Hills

NeighborhoodNIR Market*CityMarket2010Year20002019 Q211001200130014001500160017001800Rent in $10761875

* 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
Kitty Mcdonough Ward Elementary School Primary Regular 830 43 9
Anthony Saville Middle School Middle Regular 1,494 58 NA
Shadow Ridge High School High Regular 2,697 105 6

Kitty Mcdonough Ward Elementary School

  • Education Level: Primary
  • # of students: 830
  • # of teachers: 43
9
GreatSchools Rating

Anthony Saville Middle School

  • Education Level: Middle
  • # of students: 1,494
  • # of teachers: 58
NA
GreatSchools Rating

Shadow Ridge High School

  • Education Level: High
  • # of students: 2,697
  • # of teachers: 105
6
GreatSchools Rating
 

$382,410$467,390$424,900

PURCHASE PRICE

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

RENT

DOWN PAYMENT
FINANCING

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

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,050
EXPENSES Loan Payment -$1,568
Property Tax -$333
Property Insurance -$81
HOA -$45
Property Management Fees -$119
CASH FLOW
-$96

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.

$424,900

PROJECTED PRICE

$2,050

PROJECTED RENT

0.48%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.05%
Appreciation Year (1-5) 10.32%
Maintenance Year (1-5) 8.00%
Vacancy 7.57%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$118,349

INVESTMENT

$118,349

Down Payment
$106,225
Rehab Estimate
$5,750
Closing Costs
$6,374

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,568

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $106,225
Loan Amount $318,675
See What Happens When You Reinvest Cash Flow

4.58

YEARS SAVED

$23,687

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
  • $0.73

    LIST RENT PER SQFT
  • $2,261

    COMP ESTIMATED VALUE
  • $0.81

    COMP AVG. RENT PER SQFT
Comps Range
$1,860
1$1,8602$2,0503$2,3004$2,3505$2,500
$2,500
RENT COMPS ANALYSIS
  • 8625 Apiary Wind Street Las Vegas, NV 2
    • 4 beds 3 baths ∙ 2,791 Sqft ∙ Built 2005 4 beds 3 baths ∙ 2,791 Sqft ∙ Built 2005
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,050
    • $0.73
    •  
  • 5819 Toofer Winds Court Las Vegas, NV 1
    • 3 beds 3 baths ∙ 2,637 Sqft ∙ Built 2005 3 beds 3 baths ∙ 2,637 Sqft ∙ Built 2005
    property image
    LEASED 04/08/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,860
    • $0.71
    •  
  • 8250 Point Given Street Las Vegas, NV 3
    • 4 beds 3 baths ∙ 2,824 Sqft ∙ Built 2005 4 beds 3 baths ∙ 2,824 Sqft ∙ Built 2005
    property image
    LEASED 04/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $0.81
    •  
  • 8300 Tursi Lodge Court Las Vegas, NV 4
    • 4 beds 3 baths ∙ 2,637 Sqft ∙ Built 2004 4 beds 3 baths ∙ 2,637 Sqft ∙ Built 2004
    property image
    LEASED 09/27/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,350
    • $0.89
    •  
  • 5760 Yellow Ridge Avenue Las Vegas, NV 5
    • 3 beds 3 baths ∙ 3,010 Sqft ∙ Built 2018 3 beds 3 baths ∙ 3,010 Sqft ∙ Built 2018
    property image
    LEASED 09/22/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $0.83
    •  
PROPERTY LISTING DETAILS
Joe Paul May
1.702.491.9601
Exp Realty
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2224354
Last Updated: 08/24/2020
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