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8646 Weed Willows Avenue Las Vegas, NV 89178

5 Beds 5 Baths 3,948 sqft Built 2012

$530,000

List Price

$2,570

$2.3K - $2.8K

Rent Est.

PROPERTY INFO

January 29, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2012
  • Price/Sqft : $134.25
  • 6 Days on Market
  • MLS # : 2264201
  • Updated Date : 01/30/2021 at 16:41
CONSTRUCTION
  • Beds : 5
  • Floor Size : 3,948 sqft
  • Baths : 4 full , 1 half
Listing Agent

Urban Nest Realty

Listing Agent's Description

This large luxury model with dual master suites including DOWNSTAIRS MASTER SUITE in the exclusive gated Mountain's Edge Community of Yellowstone is a rare find. Both master ensuite bathrooms feature separate tub and shower and dual sinks. All five of the open and inviting bedrooms have walk-in closets. Swanky upgraded custom kitchen features an executive island, granite counters, black stainless steel appliances and a spacious walk-in pantry. Open upstairs loft creates a space that is full of natural light and can be used for multiple purposes. Two of the upstairs bedrooms connect with a true Jack and Jill bathroom. This meticulously maintained and perfectly appointed home finds itself in the neighborhood across the street from Mountains Edge Regional/Four Diamonds Baseball Park. Yellowstone community offers 3 pools, fitness center, conference center, basketball courts, playground, BBQ and fire pit. This move-in ready home is perfectly priced and a must see.

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: Mountain Edge

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320k340k360kPrice in $119k362k

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

Neighborhood: Mountain Edge

NeighborhoodNIR Market*CityMarket2010Year20002019 Q211001200130014001500160017001800Rent in $10391875

* 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
William V. Wright Elementary School Primary Regular 1,256 62 8
Lawrence And Heidi Canarelli Middle School Middle Regular 1,802 70 NA
Desert Oasis High School High Regular 2,417 102 5

William V. Wright Elementary School

  • Education Level: Primary
  • # of students: 1,256
  • # of teachers: 62
8
GreatSchools Rating

Lawrence And Heidi Canarelli Middle School

  • Education Level: Middle
  • # of students: 1,802
  • # of teachers: 70
NA
GreatSchools Rating

Desert Oasis High School

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

$477,000$583,000$530,000

PURCHASE PRICE

$2,313$2,827$2,570

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,570
EXPENSES Loan Payment -$1,841
Property Tax -$384
Property Insurance -$104
Property Management Fees -$119
CASH FLOW
$122

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.

$530,000

PROJECTED PRICE

$2,570

PROJECTED RENT

0.48%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.05%
Appreciation Year (1-5) 8.4%
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$0.0$5.0k$10k$15k$20k$25k$30k

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$146,200

INVESTMENT

$146,200

Down Payment
$132,500
Rehab Estimate
$5,750
Closing Costs
$7,950

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 45% down payment or higher enables the proceeds from the asset to cover all costs.

$1,841

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $132,500
Loan Amount $397,500
See What Happens When You Reinvest Cash Flow

7.17

YEARS SAVED

$45,898

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,570

    LIST RENT
  • $0.65

    LIST RENT PER SQFT
  • $2,556

    COMP ESTIMATED VALUE
  • $0.65

    COMP AVG. RENT PER SQFT
Comps Range
$2,450
1$2,4502$2,5003$2,5704$2,6005$2,650
$2,650
RENT COMPS ANALYSIS
  • 8646 Weed Willows Avenue Las Vegas, NV 3
    • 5 beds 5 baths ∙ 3,948 Sqft ∙ Built 2012 5 beds 5 baths ∙ 3,948 Sqft ∙ Built 2012
    • Rent
    • Rent Per SQFT
    •  
    • $2,570
    • $0.65
    •  
  • 8754 Moon Crater Avenue Las Vegas, NV 1
    • 4 beds 3 baths ∙ 3,690 Sqft ∙ Built 2013 4 beds 3 baths ∙ 3,690 Sqft ∙ Built 2013
    LEASED 10/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,450
    • $0.66
    •  
  • 9654 Desert Daisy Las Vegas, NV 2
    • 6 beds 5 baths ∙ 4,269 Sqft ∙ Built 2006 6 beds 5 baths ∙ 4,269 Sqft ∙ Built 2006
    LEASED 05/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $0.59
    •  
  • 9545 Stonily Lane Las Vegas, NV 4
    • 5 beds 4 baths ∙ 3,628 Sqft ∙ Built 2007 5 beds 4 baths ∙ 3,628 Sqft ∙ Built 2007
    LEASED 02/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,600
    • $0.72
    •  
  • 9027 Greek Palace Avenue Las Vegas, NV 5
    • 5 beds 5 baths ∙ 4,264 Sqft ∙ Built 2007 5 beds 5 baths ∙ 4,264 Sqft ∙ Built 2007
    LEASED 03/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,650
    • $0.62
    •  
PROPERTY LISTING DETAILS
Andrew Enk
1.702.461.5119
Urban Nest Realty
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2264201
Last Updated: 01/30/2021
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