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8665 Arizona Poppy Avenue Las Vegas, NV 89117

3 Beds 3 Baths 1,956 sqft Built 2006

$349,950

List Price

$1,560

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

FACTS
  • Single Family
  • Built In 2006
  • Price/Sqft : $178.91
  • 20 Days on Market
  • MLS # : 2257327
  • Updated Date : 01/07/2021 at 18:07
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,956 sqft
  • Baths : 2 full , 1 half
Listing Agent

Realty One Group, Inc

Listing Agent's Description

AMAZING 3 BEDROOM, 2.5 BATHROOM HOME WITH LOFT AND OFFICE AREA. NEW FLOORING DOWNSTAIRS. FRESHLY PAINTED INTERIOR. NICELY LANDSCAPED BACKYARD. THIS HOME IS TURNKEY AND READY TO MOVE IN. CALL AGENT WITH QUESTIONS.

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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)

PRICE & RENT TRENDS

Neighborhood: Spring Valley

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280kPrice in $119k296k

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

Neighborhood: Spring Valley

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2105011001150120012501300135014001450150015501600Rent in $10381606

* 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
Patricia A Bendorf. Elementary School Primary Regular 707 36 9
Lawrence Junior High School Middle Regular 1,421 61 NA
Spring Valley High School High Regular 1,925 79 4

Patricia A Bendorf. Elementary School

  • Education Level: Primary
  • # of students: 707
  • # of teachers: 36
9
GreatSchools Rating

Lawrence Junior High School

  • Education Level: Middle
  • # of students: 1,421
  • # of teachers: 61
NA
GreatSchools Rating

Spring Valley High School

  • Education Level: High
  • # of students: 1,925
  • # of teachers: 79
4
GreatSchools Rating
 

$314,955$384,945$349,950

PURCHASE PRICE

$1,404$1,716$1,560

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,560
EXPENSES Loan Payment -$1,216
Property Tax -$219
Property Insurance -$65
Property Management Fees -$119
CASH FLOW
-$59

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.

$349,950

PROJECTED PRICE

$1,560

PROJECTED RENT

0.45%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.96%
Appreciation Year (1-5) 9.9%
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$200k$400k$600k$800k$1.0M$1.2M

PROJECTED ANNUAL CASH FLOW

11530$0.0$5.0k$10k$15k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$98,487

INVESTMENT

$98,487

Down Payment
$87,488
Rehab Estimate
$5,750
Closing Costs
$5,249

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,216

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $87,488
Loan Amount $262,463
See What Happens When You Reinvest Cash Flow

5

YEARS SAVED

$17,734

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,560

    LIST RENT
  • $0.8

    LIST RENT PER SQFT
  • $1,594

    COMP ESTIMATED VALUE
  • $0.82

    COMP AVG. RENT PER SQFT
Comps Range
$1,555
1$1,5552$1,5603$1,5614$1,5955$1,600
$1,600
RENT COMPS ANALYSIS
  • 8665 Arizona Poppy Avenue Las Vegas, NV 2
    • 3 beds 3 baths ∙ 1,956 Sqft ∙ Built 2006 3 beds 3 baths ∙ 1,956 Sqft ∙ Built 2006
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,560
    • $0.80
    •  
  • 3327 Popcorn Flower Street Las Vegas, NV 1
    • 4 beds 3 baths ∙ 1,829 Sqft ∙ Built 2006 4 beds 3 baths ∙ 1,829 Sqft ∙ Built 2006
    property image
    LEASED 08/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,555
    • $0.85
    •  
  • 3654 Soothing Surf Drive Las Vegas, NV 3
    • 3 beds 3 baths ∙ 1,955 Sqft ∙ Built 1993 3 beds 3 baths ∙ 1,955 Sqft ∙ Built 1993
    property image
    LEASED 10/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,561
    • $0.80
    •  
  • 3340 Century Plant Street Las Vegas, NV 4
    • 4 beds 3 baths ∙ 1,956 Sqft ∙ Built 2006 4 beds 3 baths ∙ 1,956 Sqft ∙ Built 2006
    property image
    LEASED 10/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $0.82
    •  
  • 3308 Mariner Bay Street Las Vegas, NV 5
    • 4 beds 3 baths ∙ 2,034 Sqft ∙ Built 1986 4 beds 3 baths ∙ 2,034 Sqft ∙ Built 1986
    property image
    LEASED 01/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $0.79
    •  
PROPERTY LISTING DETAILS
Darren T Bryan
1.702.429.4294
Realty One Group, Inc
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2257327
Last Updated: 01/07/2021
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