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8640 Polaris Avenue Las Vegas, NV 89139

4 Beds 3 Baths 2,240 sqft Built 1990

$648,000

List Price

$2,260

$2K - $2.5K

Rent Est.

PROPERTY INFO

January 02, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1990
  • Price/Sqft : $289.29
  • 2 Days on Market
  • MLS # : 2258679
  • Updated Date : 01/03/2021 at 05:03
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,240 sqft
  • Baths : 2 full , 1 half
Listing Agent

Signature Real Estate Group

Listing Agent's Description

Great Enterprise opportunity! Single story home on half an acre with a 3 car attached garage and a 6 car detached garage/workshop. No HOA, easy access to Fwy 215, I-15, and shopping. Circular driveway, 2 car carport, and plenty of space for your toys! Interior features 4 bedrooms, custom architectural details, vaulted ceilings, arched doorways, skylights, 2-way wood burning fireplace, and security features. Backyard comes with a sparkling pool, lush landscaping, covered patio, tikihut, bbq area, and entries to the garages. All appliances and 2 storage sheds included.

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: 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
Dennis Ortwein Elementary School Primary Unknown NA
Lois And Jerry Tarkanian Middle School Middle Regular 1,739 71 NA
Desert Oasis High School High Regular 2,417 102 5

Dennis Ortwein Elementary School

  • Education Level: Primary
  • # of students:
  • # of teachers:
NA
GreatSchools Rating

Lois And Jerry Tarkanian Middle School

  • Education Level: Middle
  • # of students: 1,739
  • # of teachers: 71
NA
GreatSchools Rating

Desert Oasis High School

  • Education Level: High
  • # of students: 2,417
  • # of teachers: 102
5
GreatSchools Rating
 

$583,200$712,800$648,000

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 -$2,391
Property Tax -$318
Property Insurance -$71
Property Management Fees -$119
CASH FLOW
-$638

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.

$648,000

PROJECTED PRICE

$2,260

PROJECTED RENT

0.35%

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$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$177,470

INVESTMENT

$177,470

Down Payment
$162,000
Rehab Estimate
$5,750
Closing Costs
$9,720

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 60% down payment or higher enables the proceeds from the asset to cover all costs.

$2,391

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $162,000
Loan Amount $486,000
See What Happens When You Reinvest Cash Flow

1.5

YEARS SAVED

$6,103

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
  • $1.01

    LIST RENT PER SQFT
  • $1,602

    COMP ESTIMATED VALUE
  • $0.72

    COMP AVG. RENT PER SQFT
Comps Range
$1,550
1$1,5502$1,5903$1,6004$1,8505$2,260
$2,260
RENT COMPS ANALYSIS
  • 8640 Polaris Avenue Las Vegas, NV 5
    • 4 beds 3 baths ∙ 2,240 Sqft ∙ Built 1990 4 beds 3 baths ∙ 2,240 Sqft ∙ Built 1990
    • Rent
    • Rent Per SQFT
    •  
    • $2,260
    • $1.01
    •  
  • 8336 Brilliant Ruby Court Las Vegas, NV 1
    • 3 beds 3 baths ∙ 2,291 Sqft ∙ Built 2005 3 beds 3 baths ∙ 2,291 Sqft ∙ Built 2005
    LEASED 07/22/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $0.68
    •  
  • 8295 Pearl Diver Court #0 Las Vegas, NV 2
    • 3 beds 3 baths ∙ 2,140 Sqft ∙ Built 2010 3 beds 3 baths ∙ 2,140 Sqft ∙ Built 2010
    LEASED 08/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,590
    • $0.74
    •  
  • 8336 Rose Quartz Court Las Vegas, NV 3
    • 3 beds 2 baths ∙ 2,319 Sqft ∙ Built 2004 3 beds 2 baths ∙ 2,319 Sqft ∙ Built 2004
    LEASED 03/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $0.69
    •  
  • 4649 Sequoia Park Avenue Las Vegas, NV 4
    • 3 beds 3 baths ∙ 2,460 Sqft ∙ Built 2003 3 beds 3 baths ∙ 2,460 Sqft ∙ Built 2003
    LEASED 02/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $0.75
    •  
PROPERTY LISTING DETAILS
Marja A Davis
1.702.305.7242
Signature Real Estate Group
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2258679
Last Updated: 01/03/2021
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