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8628 Inwood Drive Las Vegas, NV 89145

5 Beds 3 Baths 2,808 sqft Built 1989

$579,000

List Price

$2,260

$2K - $2.5K

Rent Est.

PROPERTY INFO

November 05, 2020 RECENTLY ADDED
FACTS
  • Built In 1989
  • Price/Sqft : $206.20
  • 4 Days on Market
  • MLS # : 2244697
  • Updated Date : 11/05/2020 at 11:46
CONSTRUCTION
  • Beds : 5
  • Floor Size : 2,808 sqft
  • Baths : 3 full
Listing Agent

Keller Williams Realty Las Vegas

Listing Agent's Description

LARGE lot with almost a quarter acre of space and it is super private! Large lush ever greens surround the back yard that is complete with RV parking and an pool/spa combo! Did I mention NO HOA!? The home itself is 2800+ square feet of luxury without the price! Lots of window space, vaulted ceilings, stone work throughout, gorgeous tile and hard wood with ample living space! All of this 5 min away from Red Rock Casino and downtown Summerlin!

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: Angel Park Lindell

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260k280kPrice in $91k296k

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

Neighborhood: Angel Park Lindell

NeighborhoodNIR Market*CityMarket2010Year20002019 Q29501000105011001150120012501300135014001450150015501600Rent in $9111606

* 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
Walter Jacobson Elementary School Primary Regular 592 32 7
Walter Johnson Junior High School Middle Regular 1,102 50 NA
Palo Verde High School High Regular 3,024 114 9

Walter Jacobson Elementary School

  • Education Level: Primary
  • # of students: 592
  • # of teachers: 32
7
GreatSchools Rating

Walter Johnson Junior High School

  • Education Level: Middle
  • # of students: 1,102
  • # of teachers: 50
NA
GreatSchools Rating

Palo Verde High School

  • Education Level: High
  • # of students: 3,024
  • # of teachers: 114
9
GreatSchools Rating
 

$521,100$636,900$579,000

PURCHASE PRICE

$2,034$2,486$2,260

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,260
EXPENSES Loan Payment -$2,136
Property Tax -$303
Property Insurance -$82
Property Management Fees -$119
CASH FLOW
-$380

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.

$579,000

PROJECTED PRICE

$2,260

PROJECTED RENT

0.39%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.96%
Appreciation Year (1-5) 11.1%
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$500k$1.0M$1.5M$2.0M

PROJECTED ANNUAL CASH FLOW

11530-$10k-$5.0k$0.0$5.0k$10k$15k$20k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$500k$1.0M$1.5M$2.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$159,185

INVESTMENT

$159,185

Down Payment
$144,750
Rehab Estimate
$5,750
Closing Costs
$8,685

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,136

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $144,750
Loan Amount $434,250
See What Happens When You Reinvest Cash Flow

2.58

YEARS SAVED

$14,280

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,260

    LIST RENT
  • $0.8

    LIST RENT PER SQFT
  • $2,204

    COMP ESTIMATED VALUE
  • $0.79

    COMP AVG. RENT PER SQFT
Comps Range
$1,950
1$1,9502$2,0993$2,2604$2,3755$2,750
$2,750
RENT COMPS ANALYSIS
  • 8628 Inwood Drive Las Vegas, NV 3
    • 5 beds 3 baths ∙ 2,808 Sqft ∙ Built 1989 5 beds 3 baths ∙ 2,808 Sqft ∙ Built 1989
    • Rent
    • Rent Per SQFT
    •  
    • $2,260
    • $0.80
    •  
  • 901 Vantage Lane Las Vegas, NV 1
    • 4 beds 3 baths ∙ 2,925 Sqft ∙ Built 1988 4 beds 3 baths ∙ 2,925 Sqft ∙ Built 1988
    LEASED 06/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $0.67
    •  
  • 1445 Castle Crest Drive Las Vegas, NV 2
    • 4 beds 3 baths ∙ 2,893 Sqft ∙ Built 1993 4 beds 3 baths ∙ 2,893 Sqft ∙ Built 1993
    LEASED 02/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,099
    • $0.73
    •  
  • 1400 Sun Copper Drive Las Vegas, NV 4
    • 4 beds 2 baths ∙ 2,994 Sqft ∙ Built 1992 4 beds 2 baths ∙ 2,994 Sqft ∙ Built 1992
    LEASED 04/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,375
    • $0.79
    •  
  • 313 Vista Glen Street Las Vegas, NV 5
    • 4 beds 3 baths ∙ 2,893 Sqft ∙ Built 1994 4 beds 3 baths ∙ 2,893 Sqft ∙ Built 1994
    LEASED 03/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,750
    • $0.95
    •  
PROPERTY LISTING DETAILS
Nathan Elser
1.775.303.6614
Keller Williams Realty Las Vegas
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2244697
Last Updated: 11/05/2020
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