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8841 Square Knot Avenue Las Vegas, NV 89143

3 Beds 1 Baths 1,305 sqft Built 2000

$276,000

List Price

$1,200

$1.1K - $1.3K

Rent Est.

PROPERTY INFO

November 14, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2000
  • Price/Sqft : $211.49
  • 4 Days on Market
  • MLS # : 2247186
  • Updated Date : 11/14/2020 at 11:53
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,305 sqft
  • Baths : 1 full
Listing Agent

Vegas Dream Homes Inc

Listing Agent's Description

Single story home with open concept. Kitchen/dining area overlooking the living area. Large master bedroom, master bath has with dual sinks and separate walk in shower. Lovely backyard with covered patio and low HOA!

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: Spring Mountain Ranch

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320k340k360kPrice in $119k362k

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

Neighborhood: Spring Mountain Ranch

NeighborhoodNIR Market*CityMarket2010Year20002019 Q211001200130014001500160017001800Rent in $10661875

* 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
James Bilbray Elementary School Primary Regular 763 39 9
Ralph Cadwallader Middle School Middle Regular 1,480 63 NA
Arbor View High School High Regular 2,878 116 9

James Bilbray Elementary School

  • Education Level: Primary
  • # of students: 763
  • # of teachers: 39
9
GreatSchools Rating

Ralph Cadwallader Middle School

  • Education Level: Middle
  • # of students: 1,480
  • # of teachers: 63
NA
GreatSchools Rating

Arbor View High School

  • Education Level: High
  • # of students: 2,878
  • # of teachers: 116
9
GreatSchools Rating
 

$248,400$303,600$276,000

PURCHASE PRICE

$1,080$1,320$1,200

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,200
EXPENSES Loan Payment -$1,018
Property Tax -$193
Property Insurance -$52
Property Management Fees -$119
CASH FLOW
-$183

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.

$276,000

PROJECTED PRICE

$1,200

PROJECTED RENT

0.43%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.05%
Appreciation Year (1-5) 9.7%
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$200k$400k$600k$800k$1.0M

PROJECTED ANNUAL CASH FLOW

11530-$4.0k-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$78,890

INVESTMENT

$78,890

Down Payment
$69,000
Rehab Estimate
$5,750
Closing Costs
$4,140

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,018

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $69,000
Loan Amount $207,000
See What Happens When You Reinvest Cash Flow

2.83

YEARS SAVED

$7,137

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,200

    LIST RENT
  • $0.92

    LIST RENT PER SQFT
  • $1,233

    COMP ESTIMATED VALUE
  • $0.95

    COMP AVG. RENT PER SQFT
Comps Range
$1,200
1$1,2002$1,2753$1,2954$1,3005$1,350
$1,350
RENT COMPS ANALYSIS
  • 8841 Square Knot Avenue Las Vegas, NV 1
    • 3 beds 1 baths ∙ 1,305 Sqft ∙ Built 2000 3 beds 1 baths ∙ 1,305 Sqft ∙ Built 2000
    • Rent
    • Rent Per SQFT
    •  
    • $1,200
    • $0.92
    •  
  • 8212 Strawberry Spring Street Las Vegas, NV 2
    • 3 beds 3 baths ∙ 1,376 Sqft ∙ Built 2004 3 beds 3 baths ∙ 1,376 Sqft ∙ Built 2004
    LEASED 02/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,275
    • $0.93
    •  
  • 8325 Harvest Spring Place Las Vegas, NV 3
    • 3 beds 3 baths ∙ 1,375 Sqft ∙ Built 2004 3 beds 3 baths ∙ 1,375 Sqft ∙ Built 2004
    LEASED 04/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,295
    • $0.94
    •  
  • 8213 Strawberry Spring Street Las Vegas, NV 4
    • 3 beds 3 baths ∙ 1,375 Sqft ∙ Built 2004 3 beds 3 baths ∙ 1,375 Sqft ∙ Built 2004
    LEASED 02/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,300
    • $0.95
    •  
  • 8748 Water Bucket Avenue Las Vegas, NV 5
    • 3 beds 3 baths ∙ 1,406 Sqft ∙ Built 2004 3 beds 3 baths ∙ 1,406 Sqft ∙ Built 2004
    LEASED 03/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,350
    • $0.96
    •  
PROPERTY LISTING DETAILS
John J Faulis
1.702.265.1067
Vegas Dream Homes Inc
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2247186
Last Updated: 11/14/2020
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