Work with a dedicated Real Estate Advisor who will take your financial preferences and help you select and acquire properties that fit your criteria. Learn more

8785 La Madre Way Las Vegas, NV 89149

5 Beds 5 Baths 3,998 sqft Built 2004

$799,900

List Price

$2,760

$2.5K - $3K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 06, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2004
  • Price/Sqft : $200.08
  • 7 Days on Market
  • MLS # : 2275855
  • Updated Date : 03/06/2021 at 20:00
CONSTRUCTION
  • Beds : 5
  • Floor Size : 3,998 sqft
  • Baths : 4 full , 1 half
Listing Agent

Elite Realty

Listing Agent's Description

SPECTACULAR CUSTOM ESTATE NESTLED ON .46 ACRE CORNER LOT 3 CAR GARAGE 5 TOTAL BEDROOMS 4.5 BATHS WHICH INCLUDES A GORGEOUS SEPARATE 2 BEDROOM GUEST HOUSE WITH FULL KITCHEN ONE BEDROOM DOWNSTAIRS*BEAUTIFUL WATER FALL POOL WITH BUILT IN SEATS FOR RESORT STYLE LIVING*RV PARKING*SOLAR SYSTEM IS OWNED!!!! BOTH HOUSES HAVE SOLAR AND NO LEASE PAYMENTS!!!!! FRESHLY REMODELED YOU MUST SEE THIS HOME TO APPRECIATE IT THERE IS SO MUCH TO OFFER! SOARING CEILINGS PLANTATION SHUTTERS LOTS OF NATURAL LIGHT CROWN MOLDING 6IN BASEBOARDSCHEFS RAISED PANEL DOORS MODERN TWO TONE CUSTOM PAINT*CHEFS KITCHEN WITH COMMERCIAL STOVE LOVELY STAINLESS APPLIANCES CUSTOM CABINETS AND GLASS FRONT CABINETS GRANITE COUNTERS AND ARTISTIC BACKSPLASH*FORMAL DINING ROOM*DOWNSTAIRS PRIMARY BEDROOM*PRIMARY BATH WITH JETTED TUB AND SEPARATE SHOWER CUSTOM TILE SURROUNDS*BEAUTIFULLY LANDSCAPED LOW MAINTENANCE ROCKSCAPE & PLANTS*PLEASE COME SEE THIS HOME TOO MUCH TO LIST!!!!

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: Centennial Hills

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320k340k360kPrice in $119k362k

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

Neighborhood: Centennial Hills

NeighborhoodNIR Market*CityMarket2010Year20002019 Q211001200130014001500160017001800Rent in $10761875

* 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
Dean Lamar Allen Elementary School Primary Regular 660 32 6
Justice M E Leavitt Middle School Middle Regular 1,496 64 NA
Centennial High School High Regular 3,055 124 6

Dean Lamar Allen Elementary School

  • Education Level: Primary
  • # of students: 660
  • # of teachers: 32
6
GreatSchools Rating

Justice M E Leavitt Middle School

  • Education Level: Middle
  • # of students: 1,496
  • # of teachers: 64
NA
GreatSchools Rating

Centennial High School

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

$719,910$879,890$799,900

PURCHASE PRICE

$2,484$3,036$2,760

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,760
EXPENSES Loan Payment -$2,778
Property Tax -$444
Property Insurance -$105
Property Management Fees -$119
CASH FLOW
-$686

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.

$799,900

PROJECTED PRICE

$2,760

PROJECTED RENT

0.35%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.05%
Appreciation Year (1-5) 10.3%
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$2.5M

PROJECTED ANNUAL CASH FLOW

11530-$15k-$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$2.5M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$217,724

INVESTMENT

$217,724

Down Payment
$199,975
Rehab Estimate
$5,750
Closing Costs
$11,999

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,778

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $199,975
Loan Amount $599,925
See What Happens When You Reinvest Cash Flow

1.58

YEARS SAVED

$7,443

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,760

    LIST RENT
  • $0.69

    LIST RENT PER SQFT
  • $2,939

    COMP ESTIMATED VALUE
  • $0.74

    COMP AVG. RENT PER SQFT
Comps Range
$2,500
1$2,5002$2,7603$2,8954$3,2005$3,300
$3,300
RENT COMPS ANALYSIS
  • 8785 La Madre Way Las Vegas, NV 2
    • 5 beds 5 baths ∙ 3,998 Sqft ∙ Built 2004 5 beds 5 baths ∙ 3,998 Sqft ∙ Built 2004
    • Rent
    • Rent Per SQFT
    •  
    • $2,760
    • $0.69
    •  
  • 8901 Tierra Santa Las Vegas, NV 1
    • 4 beds 3 baths ∙ 4,120 Sqft ∙ Built 2003 4 beds 3 baths ∙ 4,120 Sqft ∙ Built 2003
    LEASED 07/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $0.61
    •  
  • 7512 Cathedral Canyon Court #n/a Las Vegas, NV 3
    • 6 beds 3 baths ∙ 3,828 Sqft ∙ Built 1993 6 beds 3 baths ∙ 3,828 Sqft ∙ Built 1993
    LEASED 12/23/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,895
    • $0.76
    •  
  • 5645 North Chieftain Street Las Vegas, NV 4
    • 4 beds 6 baths ∙ 3,940 Sqft ∙ Built 2007 4 beds 6 baths ∙ 3,940 Sqft ∙ Built 2007
    LEASED 06/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,200
    • $0.81
    •  
  • 4610 Creeping Fig Court Las Vegas, NV 5
    • 6 beds 3 baths ∙ 4,320 Sqft ∙ Built 2004 6 beds 3 baths ∙ 4,320 Sqft ∙ Built 2004
    LEASED 01/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,300
    • $0.76
    •  
PROPERTY LISTING DETAILS
Toni K Smith
1.702.335.0807
Elite Realty
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2275855
Last Updated: 03/06/2021
BESbswy