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8813 Smokey Drive Las Vegas, NV 89134

2 Beds 2 Baths 1,105 sqft Built 1990

$319,000

List Price

$1,400

$1.3K - $1.5K

Rent Est.

PROPERTY INFO

January 13, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1990
  • Price/Sqft : $288.69
  • 5 Days on Market
  • MLS # : 2260920
  • Updated Date : 01/14/2021 at 18:48
CONSTRUCTION
  • Beds : 2
  • Floor Size : 1,105 sqft
  • Baths : 2 full
Listing Agent

Era Brokers Consolidated

Listing Agent's Description

Move-in ready single-story home in the highly sought after 55+ community of Sun City Summerlin! Vaulted ceilings and custom shutters greet you as you open the door to this 2 bed 2 bath single family home. The kitchen features stainless appliances with a brand new Refrigerator and Stove, custom refinished cabinets and handsome hardware. The spacious primary bedroom offers a remodeled bath and new carpet. The home has newer interior and exterior paint, newer AC unit, water softener, updated lighting and fans throughout. Large backyard has a generous patio and custom patio cover that extends the length of the home. Low maintenance landscaping tops off this great home! Sun City Summerlin is the perfect place for the active adult with four community centers, three 18-hole golf courses, tennis courts, softball fields, bocce ball, fitness centers, social clubs, performing arts theater, roving security, restaurants/lounges, shopping, salons, & more in a golf cart approved community!!

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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: Sun City Summerlin

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320kPrice in $119k328k

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

Neighborhood: Sun City Summerlin

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21100115012001250130013501400145015001550160016501700Rent in $10671706

* 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 Lummis Elementary School Primary Regular 555 27 7
Ernest Becker Middle School Middle Regular 1,392 56 NA
Palo Verde High School High Regular 3,024 114 9

William Lummis Elementary School

  • Education Level: Primary
  • # of students: 555
  • # of teachers: 27
7
GreatSchools Rating

Ernest Becker Middle School

  • Education Level: Middle
  • # of students: 1,392
  • # of teachers: 56
NA
GreatSchools Rating

Palo Verde High School

  • Education Level: High
  • # of students: 3,024
  • # of teachers: 114
9
GreatSchools Rating
 

$287,100$350,900$319,000

PURCHASE PRICE

$1,260$1,540$1,400

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,400
EXPENSES Loan Payment -$1,108
Property Tax -$171
Property Insurance -$49
Property Management Fees -$119
CASH FLOW
-$47

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.

$319,000

PROJECTED PRICE

$1,400

PROJECTED RENT

0.44%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.96%
Appreciation Year (1-5) 9.1%
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-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k$16k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$90,285

INVESTMENT

$90,285

Down Payment
$79,750
Rehab Estimate
$5,750
Closing Costs
$4,785

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,108

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $79,750
Loan Amount $239,250
See What Happens When You Reinvest Cash Flow

5.25

YEARS SAVED

$17,264

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,400

    LIST RENT
  • $1.27

    LIST RENT PER SQFT
  • $1,083

    COMP ESTIMATED VALUE
  • $0.98

    COMP AVG. RENT PER SQFT
Comps Range
$1,000
1$1,0002$1,3503$1,3754$1,400
$1,400
RENT COMPS ANALYSIS
  • 8813 Smokey Drive Las Vegas, NV 4
    • 2 beds 2 baths ∙ 1,105 Sqft ∙ Built 1990 2 beds 2 baths ∙ 1,105 Sqft ∙ Built 1990
    • Rent
    • Rent Per SQFT
    •  
    • $1,400
    • $1.27
    •  
  • 8408 White Eagle #102 Las Vegas, NV 1
    • 2 beds 1 baths ∙ 1,108 Sqft ∙ Built 1994 2 beds 1 baths ∙ 1,108 Sqft ∙ Built 1994
    LEASED 06/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,000
    • $0.90
    •  
  • 1600 Hills Of Red Drive #201 Las Vegas, NV 2
    • 2 beds 2 baths ∙ 1,305 Sqft ∙ Built 1997 2 beds 2 baths ∙ 1,305 Sqft ∙ Built 1997
    LEASED 02/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,350
    • $1.03
    •  
  • 2420 Desert Butte Drive Las Vegas, NV 3
    • 2 beds 2 baths ∙ 1,359 Sqft ∙ Built 1991 2 beds 2 baths ∙ 1,359 Sqft ∙ Built 1991
    LEASED 05/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,375
    • $1.01
    •  
PROPERTY LISTING DETAILS
Joseph Gulino
1.702.518.1003
Era Brokers Consolidated
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2260920
Last Updated: 01/14/2021
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