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8840 Majestic Prince Court Las Vegas, NV 89178

4 Beds 4 Baths 3,045 sqft Built 2013

$560,000

List Price

$2,540

$2.3K - $2.8K

Rent Est.

PROPERTY INFO

January 08, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2013
  • Price/Sqft : $183.91
  • 4 Days on Market
  • MLS # : 2259985
  • Updated Date : 01/08/2021 at 11:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 3,045 sqft
  • Baths : 3 full , 1 half
Listing Agent

Galindo Group Real Estate

Listing Agent's Description

**ABSOLUTELY STUNNING** This 1 story GEM in The AWARD WINNING Mountains Edge Community is truly a masterpiece! 12 FOOT CEILINGS throughout the home invite you in as though you are in a palace. 2 spare bedrooms in the front of the house lead you to the GREAT ROOM, which is an understatement! Plenty of space for a sitting area, family room, and dining room! The kitchen comes complete with SS appliances, granite countertops, a walk in pantry, and endless cabinetry for storage! At the back of the home is the OVERSIZED PRIMARY BEDROOM, complete with a spa-like on-suite bathroom and a GIGANTIC WALK-IN CLOSET! Bigger than most spare bedrooms!! This home boasts 4 bedrooms, 4 bathrooms, and a spacious 3 car garage! The fully finished and landscaped backyard is MASSIVE! Almost a quarter acre to entertain, relax, and get away! Complete with pavers and artificial grass, this backyard is perfect for whatever you desire! Close to parks, schools, shopping, and trails! THIS WON’T LAST LONG!

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: Mountain Edge

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320k340k360kPrice in $119k362k

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

Neighborhood: Mountain Edge

NeighborhoodNIR Market*CityMarket2010Year20002019 Q211001200130014001500160017001800Rent in $10391875

* 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 V. Wright Elementary School Primary Regular 1,256 62 8
Lawrence And Heidi Canarelli Middle School Middle Regular 1,802 70 NA
Desert Oasis High School High Regular 2,417 102 5

William V. Wright Elementary School

  • Education Level: Primary
  • # of students: 1,256
  • # of teachers: 62
8
GreatSchools Rating

Lawrence And Heidi Canarelli Middle School

  • Education Level: Middle
  • # of students: 1,802
  • # of teachers: 70
NA
GreatSchools Rating

Desert Oasis High School

  • Education Level: High
  • # of students: 2,417
  • # of teachers: 102
5
GreatSchools Rating
 

$504,000$616,000$560,000

PURCHASE PRICE

$2,286$2,794$2,540

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,540
EXPENSES Loan Payment -$1,945
Property Tax -$405
Property Insurance -$86
Property Management Fees -$119
CASH FLOW
-$15

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.

$560,000

PROJECTED PRICE

$2,540

PROJECTED RENT

0.45%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.05%
Appreciation Year (1-5) 8.4%
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

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M$1.6M$1.8M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$154,150

INVESTMENT

$154,150

Down Payment
$140,000
Rehab Estimate
$5,750
Closing Costs
$8,400

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,945

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $140,000
Loan Amount $420,000
See What Happens When You Reinvest Cash Flow

5.58

YEARS SAVED

$35,037

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,540

    LIST RENT
  • $0.83

    LIST RENT PER SQFT
  • $2,269

    COMP ESTIMATED VALUE
  • $0.75

    COMP AVG. RENT PER SQFT
Comps Range
$2,075
1$2,0752$2,1253$2,1954$2,4005$2,540
$2,540
RENT COMPS ANALYSIS
  • 8840 Majestic Prince Court Las Vegas, NV 5
    • 4 beds 4 baths ∙ 3,045 Sqft ∙ Built 2013 4 beds 4 baths ∙ 3,045 Sqft ∙ Built 2013
    • Rent
    • Rent Per SQFT
    •  
    • $2,540
    • $0.83
    •  
  • 10333 Hawk Ravine Street #n/a Las Vegas, NV 1
    • 4 beds 3 baths ∙ 2,853 Sqft ∙ Built 2006 4 beds 3 baths ∙ 2,853 Sqft ∙ Built 2006
    LEASED 07/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,075
    • $0.73
    •  
  • 8747 Moon Crater Las Vegas, NV 2
    • 4 beds 3 baths ∙ 2,913 Sqft ∙ Built 2014 4 beds 3 baths ∙ 2,913 Sqft ∙ Built 2014
    LEASED 05/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,125
    • $0.73
    •  
  • 9037 Sweet Tree Court Las Vegas, NV 3
    • 4 beds 5 baths ∙ 3,018 Sqft ∙ Built 2006 4 beds 5 baths ∙ 3,018 Sqft ∙ Built 2006
    LEASED 06/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,195
    • $0.73
    •  
  • 8704 Wildcat Canyon Avenue Las Vegas, NV 4
    • 4 beds 3 baths ∙ 3,035 Sqft ∙ Built 2004 4 beds 3 baths ∙ 3,035 Sqft ∙ Built 2004
    LEASED 09/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,400
    • $0.79
    •  
PROPERTY LISTING DETAILS
Matthew L Langguth
1.702.755.1215
Galindo Group Real Estate
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2259985
Last Updated: 01/08/2021
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