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8829 Cortile Drive Las Vegas, NV 89134

5 Beds 5 Baths 4,060 sqft Built 1995

$949,999

List Price

$4,560

$4.3K - $4.8K

Rent Est.

PROPERTY INFO

November 12, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1995
  • Price/Sqft : $233.99
  • 5 Days on Market
  • MLS # : 2247141
  • Updated Date : 11/11/2020 at 18:41
CONSTRUCTION
  • Beds : 5
  • Floor Size : 4,060 sqft
  • Baths : 4 full , 1 half
Listing Agent

Bhhs Nevada Properties

Listing Agent's Description

Absolutely Gorgeous! Modern, Renovated Home in the Corta Bella Guard Gated Neighborhood*So Upgraded*All Stainless Steel Appliances*Waterfall Edge Quartz Kitchen Island*Entertainer's Dream Home*Double Oven*Custom Modern Fireplace Wall*Upgraded Wood Tile Flooring Throughout 1'st Floor*Bedroom with Full Bath Downstairs*New Modern Staircase Rail*Beautiful Primary Bedroom with Completely Modern Bathroom*So Breathtaking!*Amazingly Stunning!*Sparkling Pool/Spa*Brand New Built-In BBQ w/ Refrig and Firepit*Home Sweet Home!****

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: Corta Bella

NeighborhoodNIR Market*CityMarket2010Year20002019200k300k400k500k600k700k800k900k1000k1100k1200k1300kPrice in $119k1310k

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

Neighborhood: Corta Bella

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21500200025003000350040004500Rent in $10764887

* 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
 

$854,999$1,044,999$949,999

PURCHASE PRICE

$4,104$5,016$4,560

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $4,560
EXPENSES Loan Payment -$3,505
Property Tax -$576
Property Insurance -$106
Property Management Fees -$119
CASH FLOW
$254

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.

$949,999

PROJECTED PRICE

$4,560

PROJECTED RENT

0.48%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.75%
Appreciation Year (1-5) 4.2%
Maintenance Year (1-5) 8.00%
Vacancy 7.56%
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$3.0M

PROJECTED ANNUAL CASH FLOW

11530$0.0$10k$20k$30k$40k$50k$60k

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$257,500

INVESTMENT

$257,500

Down Payment
$237,500
Rehab Estimate
$5,750
Closing Costs
$14,250

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 40% down payment or higher enables the proceeds from the asset to cover all costs.

$3,505

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $237,500
Loan Amount $712,499
See What Happens When You Reinvest Cash Flow

8.17

YEARS SAVED

$120,411

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $4,560

    LIST RENT
  • $1.12

    LIST RENT PER SQFT
  • $4,202

    COMP ESTIMATED VALUE
  • $1.04

    COMP AVG. RENT PER SQFT
Comps Range
$4,200
1$4,2002$4,2503$4,560
$4,560
RENT COMPS ANALYSIS
  • 8829 Cortile Drive Las Vegas, NV 3
    • 5 beds 3 baths ∙ 4,060 Sqft ∙ Built 1995 5 beds 3 baths ∙ 4,060 Sqft ∙ Built 1995
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $4,560
    • $1.12
    •  
  • 9829 Ridge Rock Court Las Vegas, NV 1
    • 5 beds 4 baths ∙ 4,107 Sqft ∙ Built 1999 5 beds 4 baths ∙ 4,107 Sqft ∙ Built 1999
    property image
    LEASED 11/21/19
    • Rent
    • Rent Per SQFT
    •  
    • $4,200
    • $1.02
    •  
  • 8805 Lusso Court Las Vegas, NV 2
    • 4 beds 4 baths ∙ 4,060 Sqft ∙ Built 1996 4 beds 4 baths ∙ 4,060 Sqft ∙ Built 1996
    property image
    LEASED 05/23/19
    • Rent
    • Rent Per SQFT
    •  
    • $4,250
    • $1.05
    •  
PROPERTY LISTING DETAILS
John Mcmahon
1.702.372.9333
Bhhs Nevada Properties
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2247141
Last Updated: 11/11/2020
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