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8881 Skyline Peak Court Las Vegas, NV 89148

5 Beds 3 Baths 2,489 sqft Built 2006

$350,000

List Price

$1,850

$1.7K - $2K

Rent Est.

PROPERTY INFO

November 14, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2006
  • Price/Sqft : $140.62
  • 2 Days on Market
  • MLS # : 2248350
  • Updated Date : 11/14/2020 at 16:30
CONSTRUCTION
  • Beds : 5
  • Floor Size : 2,489 sqft
  • Baths : 2 full , 1 half
Listing Agent

Summit Properties

Listing Agent's Description

Check out this 5 bedroom with 3 1/2 baths tri-level home. Two toned paint throughout. Large open kitchen with granite counters and plenty of cabinet space. Primary suite downstairs which features a ceiling fan, garden tub, separate shower and walk in closet. Second level features a large loft with ceiling fan, 3 bedrooms, bathroom and laundry. 3rd level features a 5th bedroom a bonus room with ceiling fan and laminate flooring. Beautifully landscaped backyard.

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: Enterprise

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320k340k360kPrice in $119k362k

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

Neighborhood: Enterprise

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2100011001200130014001500160017001800Rent in $9981875

* 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
Don And Dee Snyder Elementary School Primary Unknown NA
Lawrence And Heidi Canarelli Middle School Middle Regular 1,802 70 NA
Sierra Vista High School High Regular 2,396 88 4

Don And Dee Snyder Elementary School

  • Education Level: Primary
  • # of students:
  • # of teachers:
NA
GreatSchools Rating

Lawrence And Heidi Canarelli Middle School

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

Sierra Vista High School

  • Education Level: High
  • # of students: 2,396
  • # of teachers: 88
4
GreatSchools Rating
 

$315,000$385,000$350,000

PURCHASE PRICE

$1,665$2,035$1,850

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,850
EXPENSES Loan Payment -$1,291
Property Tax -$264
Property Insurance -$75
Property Management Fees -$119
CASH FLOW
$100

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.

$350,000

PROJECTED PRICE

$1,850

PROJECTED RENT

0.53%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.05%
Appreciation Year (1-5) 9.8%
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$1.2M$1.4M

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$98,500

INVESTMENT

$98,500

Down Payment
$87,500
Rehab Estimate
$5,750
Closing Costs
$5,250

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 45% down payment or higher enables the proceeds from the asset to cover all costs.

$1,291

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $87,500
Loan Amount $262,500
See What Happens When You Reinvest Cash Flow

7.5

YEARS SAVED

$38,512

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,850

    LIST RENT
  • $0.74

    LIST RENT PER SQFT
  • $1,867

    COMP ESTIMATED VALUE
  • $0.75

    COMP AVG. RENT PER SQFT
Comps Range
$1,795
1$1,7952$1,8503$1,8754$1,9005$1,900
$1,900
RENT COMPS ANALYSIS
  • 8881 Skyline Peak Court Las Vegas, NV 2
    • 5 beds 3 baths ∙ 2,489 Sqft ∙ Built 2006 5 beds 3 baths ∙ 2,489 Sqft ∙ Built 2006
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $0.74
    •  
  • 8866 Quarterhorse Lane Las Vegas, NV 1
    • 4 beds 3 baths ∙ 2,331 Sqft ∙ Built 2017 4 beds 3 baths ∙ 2,331 Sqft ∙ Built 2017
    property image
    LEASED 09/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,795
    • $0.77
    •  
  • 9075 Iron Cactus Las Vegas, NV 3
    • 4 beds 2 baths ∙ 2,564 Sqft ∙ Built 2007 4 beds 2 baths ∙ 2,564 Sqft ∙ Built 2007
    property image
    LEASED 06/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,875
    • $0.73
    •  
  • 8630 Tortoise Canyon Court Las Vegas, NV 4
    • 4 beds 4 baths ∙ 2,572 Sqft ∙ Built 2017 4 beds 4 baths ∙ 2,572 Sqft ∙ Built 2017
    property image
    LEASED 01/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,900
    • $0.74
    •  
  • 8923 Skyline Peak Court Las Vegas, NV 5
    • 5 beds 4 baths ∙ 2,489 Sqft ∙ Built 2006 5 beds 4 baths ∙ 2,489 Sqft ∙ Built 2006
    property image
    LEASED 04/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,900
    • $0.76
    •  
PROPERTY LISTING DETAILS
Mindy Dominick
1.702.249.2511
Summit Properties
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2248350
Last Updated: 11/14/2020
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