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8705 Western Saddle Avenue Las Vegas, NV 89129

3 Beds 3 Baths 1,944 sqft Built 1996

$355,000

List Price

$1,590

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

December 04, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1996
  • Price/Sqft : $182.61
  • 3 Days on Market
  • MLS # : 2252086
  • Updated Date : 12/04/2020 at 08:30
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,944 sqft
  • Baths : 2 full , 1 half
Listing Agent

Cambridge Realty

Listing Agent's Description

NORTHWEST STUNNER W/SPARKLING POOL - WATERFALL - SOLAR HEATING BLANKET INCLUDED - INCREDIBLE HAND PAINTED BACKYARD WALL - SYNTHETIC GRASS IN REAR YARD - PATIO RETRACTABLE AWNING - REAR NEIGHBOR SET BACK SEVERAL YARDS ON OTHER SIDE OF DRAINAGE CHANNEL FOR ADDED PRIVACY - SHED INCLUDED - BEAUTIFUL DARK WOOD LAMINATE FLOORING - GAS FIREPLACE IN FAMILY ROOM - VAULTED CEILINGS - KITCHEN W/ISLAND - BREAKFAST BAR AND NOOK, CUSTOM FINISHED CABINETS - OUTDOOR PATIO FURNITURE IS INCLUDED - WINDOW TREATMENTS & BLINDS - ALARM - REFRIGERATOR, WASHER & DRYER INCLUDED - BEAUTIFUL DESERT LOW MAINTENANCE LANDSCAPING - AND SO MUCH MORE! SCHEDULE YOUR SHOWING TODAY. WON'T LAST LONG.

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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)

PRICE & RENT TRENDS

Neighborhood: Lone Mountain

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320kPrice in $119k326k

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

Neighborhood: Lone Mountain

NeighborhoodNIR Market*CityMarket2010Year20002019 Q211001150120012501300135014001450150015501600Rent in $10701616

* 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
Edith Garehime Elementary School Primary Regular 631 32 7
Irwin And Susan Molasky Junior High School Middle Regular 1,131 50 NA
Centennial High School High Regular 3,055 124 6

Edith Garehime Elementary School

  • Education Level: Primary
  • # of students: 631
  • # of teachers: 32
7
GreatSchools Rating

Irwin And Susan Molasky Junior High School

  • Education Level: Middle
  • # of students: 1,131
  • # of teachers: 50
NA
GreatSchools Rating

Centennial High School

  • Education Level: High
  • # of students: 3,055
  • # of teachers: 124
6
GreatSchools Rating
 

$319,500$390,500$355,000

PURCHASE PRICE

$1,431$1,749$1,590

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,590
EXPENSES Loan Payment -$1,310
Property Tax -$220
Property Insurance -$65
Property Management Fees -$119
CASH FLOW
-$123

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.

$355,000

PROJECTED PRICE

$1,590

PROJECTED RENT

0.45%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.96%
Appreciation Year (1-5) 10.3%
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-$5.0k$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$99,825

INVESTMENT

$99,825

Down Payment
$88,750
Rehab Estimate
$5,750
Closing Costs
$5,325

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,310

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $88,750
Loan Amount $266,250
See What Happens When You Reinvest Cash Flow

4.25

YEARS SAVED

$16,889

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,590

    LIST RENT
  • $0.82

    LIST RENT PER SQFT
  • $1,604

    COMP ESTIMATED VALUE
  • $0.83

    COMP AVG. RENT PER SQFT
Comps Range
$1,395
1$1,3952$1,5903$1,6004$1,6505$1,695
$1,695
RENT COMPS ANALYSIS
  • 8705 Western Saddle Avenue Las Vegas, NV 2
    • 3 beds 3 baths ∙ 1,944 Sqft ∙ Built 1996 3 beds 3 baths ∙ 1,944 Sqft ∙ Built 1996
    • Rent
    • Rent Per SQFT
    •  
    • $1,590
    • $0.82
    •  
  • 3441 Bedfordshire Las Vegas, NV 1
    • 3 beds 2 baths ∙ 1,746 Sqft ∙ Built 1996 3 beds 2 baths ∙ 1,746 Sqft ∙ Built 1996
    LEASED 04/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,395
    • $0.80
    •  
  • 8669 Raindrop Canyon Avenue Las Vegas, NV 3
    • 4 beds 3 baths ∙ 1,909 Sqft ∙ Built 1997 4 beds 3 baths ∙ 1,909 Sqft ∙ Built 1997
    LEASED 05/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $0.84
    •  
  • 3629 Twinbreeze Street Las Vegas, NV 4
    • 3 beds 3 baths ∙ 1,928 Sqft ∙ Built 1997 3 beds 3 baths ∙ 1,928 Sqft ∙ Built 1997
    LEASED 11/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.86
    •  
  • 3320 Campbell Road Las Vegas, NV 5
    • 3 beds 3 baths ∙ 2,129 Sqft ∙ Built 1996 3 beds 3 baths ∙ 2,129 Sqft ∙ Built 1996
    LEASED 12/30/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $0.80
    •  
PROPERTY LISTING DETAILS
Stephanie Phillips
1.702.339.6436
Cambridge Realty
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2252086
Last Updated: 12/04/2020
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