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8840 Hickam Avenue Las Vegas, NV 89129

5 Beds 2 Baths 3,449 sqft Built 1988

$979,900

List Price

$2,450

$2.2K - $2.7K

Rent Est.

PROPERTY INFO

December 03, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1988
  • Price/Sqft : $284.11
  • 4 Days on Market
  • MLS # : 2249866
  • Updated Date : 12/03/2020 at 14:10
CONSTRUCTION
  • Beds : 5
  • Floor Size : 3,449 sqft
  • Baths : 1 full , 1 half
Listing Agent

Realty One Group, Inc

Listing Agent's Description

*** 1 ACRE GORGEOUS NORTHWEST HORSE PROPERTY NEAR LONE MOUNTAIN EQUESTRIAN PARK *** IMMACULATE ESTATE WITH COURTYARD ENTRY TO A CUSTOM BUILT 3,449 SQ FT SINGLE STORY, FULLY FENCED WITH ELECTRIC GATE & MATURE LANDSCAPING ** HOME BOASTS 5 BEDROOMS, 3 BATH & 4 CAR GARAGE ** LARGE OPEN GREAT ROOM WITH VAULTED CEILINGS, RECESSED LIGHTING, WB BRICK FIREPLACE ** ENTERTAINERS DREAM WITH GOURMET STATE-OF-THE-ART KITCHEN, CUSTOM PENDANT LIGHTING, LARGE GRANITE ISLAND, STAINLESS STEEL APPLIANCES, LARGE FRIDGE, DOUBLE OVEN, 6 BURNER GAS COOKTOP, BUILT IN RANGE HOOD ** LARGE MASTER BEDROOM HAS RETREAT WITH FRENCH DOORS TO PRIVATE PATIO ** CEILING FANS & RECESSED LIGHTING THROUGHOUT HOME ** BACKYARD HAS PARK LIKE SETTING WITH BEAUTIFUL MOUNTAIN VIEWS, LUSH YARD, STAMPED CONCRETE WALKWAYS TO NUMEROUS OUTDOOR PATIOS, BASKETBALL COURT, FIRE PIT, BEAUTIFUL POOL AREA WITH OUTDOOR LIGHTING ** 4 STALL MARE MOTEL & ROOM FOR ARENA/ GRASS PADDOCKS / TURNOUTS ** RV PARKING W/ FULL HOOKUP ** PRIVATE WELL

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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
Justice M E Leavitt Middle School Middle Regular 1,496 64 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

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
 

$881,910$1,077,890$979,900

PURCHASE PRICE

$2,205$2,695$2,450

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,450
EXPENSES Loan Payment -$3,615
Property Tax -$417
Property Insurance -$94
Property Management Fees -$119
CASH FLOW
-$1,796

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.

$979,900

PROJECTED PRICE

$2,450

PROJECTED RENT

0.25%

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$500k$1.0M$1.5M$2.0M$2.5M$3.0M$3.5M

PROJECTED ANNUAL CASH FLOW

11530-$30k-$25k-$20k-$15k-$10k-$5.0k$0.0$5.0k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$500k$1.0M$1.5M$2.0M$2.5M$3.0M$3.5M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$265,424

INVESTMENT

$265,424

Down Payment
$244,975
Rehab Estimate
$5,750
Closing Costs
$14,699

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 75% down payment or higher enables the proceeds from the asset to cover all costs.

$3,615

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $244,975
Loan Amount $734,925
See What Happens When You Reinvest Cash Flow

0.08

YEARS SAVED

$98

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,450

    LIST RENT
  • $0.71

    LIST RENT PER SQFT
  • $2,432

    COMP ESTIMATED VALUE
  • $0.71

    COMP AVG. RENT PER SQFT
Comps Range
$1,999
1$1,9992$2,2953$2,4004$2,4505$2,700
$2,700
RENT COMPS ANALYSIS
  • 8840 Hickam Avenue Las Vegas, NV 4
    • 5 beds 2 baths ∙ 3,449 Sqft ∙ Built 1988 5 beds 2 baths ∙ 3,449 Sqft ∙ Built 1988
    • Rent
    • Rent Per SQFT
    •  
    • $2,450
    • $0.71
    •  
  • 3825 White Castle Street Las Vegas, NV 1
    • 5 beds 2 baths ∙ 3,417 Sqft ∙ Built 1999 5 beds 2 baths ∙ 3,417 Sqft ∙ Built 1999
    LEASED 02/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,999
    • $0.59
    •  
  • 3696 Ferndale Cove Drive Las Vegas, NV 2
    • 4 beds 2 baths ∙ 3,387 Sqft ∙ Built 1995 4 beds 2 baths ∙ 3,387 Sqft ∙ Built 1995
    LEASED 03/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,295
    • $0.68
    •  
  • 3925 Larkcrest Street Las Vegas, NV 3
    • 4 beds 2 baths ∙ 3,215 Sqft ∙ Built 1999 4 beds 2 baths ∙ 3,215 Sqft ∙ Built 1999
    LEASED 09/26/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,400
    • $0.75
    •  
  • 3657 Carol Lark Court Las Vegas, NV 5
    • 4 beds 2 baths ∙ 3,387 Sqft ∙ Built 1995 4 beds 2 baths ∙ 3,387 Sqft ∙ Built 1995
    LEASED 01/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,700
    • $0.80
    •  
PROPERTY LISTING DETAILS
Terri G Gamboa
1.702.528.5473
Realty One Group, Inc
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2249866
Last Updated: 12/03/2020
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