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8867 Oquendo Road Las Vegas, NV 89148

3 Beds 3 Baths 2,065 sqft Built 2002

INVESTimate

$329,000

List Price

$1,520

$1,368 - $1,672

Rent Est.

$357,919  ( +8.79%)   1 YR EST. FORECAST

PROPERTY INFO

August 23, 2020 RECENTLY ADDED
FACTS
  • Built In 2002
  • Price/Sqft : $159.32
  • 4 Days on Market
  • MLS # : 2224278
  • Updated Date : 08/23/2020 at 13:30
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,065 sqft
  • Baths : 2 full , 1 half
Listing Agent

Ctr Property Management Llc

Listing Agent's Description

Great southwest location. Great 3 bedroom, 3 bath, large bonus room upstairs and easy to maintain backyard all on a one sided cul-de-sac. Newer HVAC system. Close proximity to the 215. Also makes a great investment property. Tenant currently paying $1,540 and interested in staying another year.

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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)

PRICE & RENT TRENDS

Neighborhood: Rhodes Ranch

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320kPrice in $119k339k

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

Neighborhood: Rhodes Ranch

NeighborhoodNIR Market*CityMarket2010Year20002019 Q211001200130014001500160017001800Rent in $10551829

* 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
Lucille Rogers Elementary School Primary Regular 775 43 9
Grant Sawyer Middle School Middle Regular 1,308 52 NA
Durango High School High Regular 2,302 95 5

Lucille Rogers Elementary School

  • Education Level: Primary
  • # of students: 775
  • # of teachers: 43
9
GreatSchools Rating

Grant Sawyer Middle School

  • Education Level: Middle
  • # of students: 1,308
  • # of teachers: 52
NA
GreatSchools Rating

Durango High School

  • Education Level: High
  • # of students: 2,302
  • # of teachers: 95
5
GreatSchools Rating
 

$296,100$361,900$329,000

PURCHASE PRICE

$1,368$1,672$1,520

RENT

DOWN PAYMENT
FINANCING

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$0.0$5.0k$10k$15k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,520
EXPENSES Loan Payment -$1,214
Property Tax -$207
Property Insurance -$67
HOA -$20
Property Management Fees -$119
CASH FLOW
-$107

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.

$329,000

PROJECTED PRICE

$1,520

PROJECTED RENT

0.46%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.96%
Appreciation Year (1-5) 8.79%
Maintenance Year (1-5) 8.00%
Vacancy 7.63%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$92,935

INVESTMENT

$92,935

Down Payment
$82,250
Rehab Estimate
$5,750
Closing Costs
$4,935

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$1,214

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $82,250
Loan Amount $246,750
See What Happens When You Reinvest Cash Flow

4.33

YEARS SAVED

$16,027

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,520

    LIST RENT
  • $0.74

    LIST RENT PER SQFT
  • $1,621

    COMP ESTIMATED VALUE
  • $0.79

    COMP AVG. RENT PER SQFT
Comps Range
$1,520
1$1,5202$1,5953$1,6004$1,7505$1,795
$1,795
RENT COMPS ANALYSIS
  • 8867 Oquendo Road Las Vegas, NV 1
    • 3 beds 3 baths ∙ 2,065 Sqft ∙ Built 2002 3 beds 3 baths ∙ 2,065 Sqft ∙ Built 2002
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,520
    • $0.74
    •  
  • 8816 Winter Sky Avenue Las Vegas, NV 2
    • 3 beds 3 baths ∙ 2,065 Sqft ∙ Built 2002 3 beds 3 baths ∙ 2,065 Sqft ∙ Built 2002
    property image
    LEASED 08/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $0.77
    •  
  • 5969 Smith Valley Road Las Vegas, NV 3
    • 3 beds 3 baths ∙ 2,086 Sqft ∙ Built 2017 3 beds 3 baths ∙ 2,086 Sqft ∙ Built 2017
    property image
    LEASED 05/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $0.77
    •  
  • 6153 Scarlet Leaf Street Las Vegas, NV 4
    • 3 beds 3 baths ∙ 2,224 Sqft ∙ Built 2018 3 beds 3 baths ∙ 2,224 Sqft ∙ Built 2018
    property image
    LEASED 12/20/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.79
    •  
  • 8942 Sienna Leaf Avenue Las Vegas, NV 5
    • 3 beds 3 baths ∙ 2,224 Sqft ∙ Built 2018 3 beds 3 baths ∙ 2,224 Sqft ∙ Built 2018
    property image
    LEASED 02/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,795
    • $0.81
    •  
PROPERTY LISTING DETAILS
Mark Yandric
1.702.460.8026
Ctr Property Management Llc
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2224278
Last Updated: 08/23/2020
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