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8901 Tierra Santa Avenue Las Vegas, NV 89129

4 Beds 3 Baths 4,120 sqft Built 2003

$610,000

List Price

$2,870

$2.6K - $3.1K

Rent Est.

PROPERTY INFO

November 05, 2020 RECENTLY ADDED
FACTS
  • Built In 2003
  • Price/Sqft : $148.06
  • 5 Days on Market
  • MLS # : 2239270
  • Updated Date : 11/04/2020 at 18:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 4,120 sqft
  • Baths : 3 full
Listing Agent

Coldwell Banker Premier

Listing Agent's Description

SPECTACULAR HOME IN LUXURY GATED COMMUNITY OF SPANISH SPRINGS. FEATURING 4 BEDROOMS, 3 FULLS BATH. ONE BEDROOM AND BATH DOWN, FIREPLACES IN FAMILY ROOM AND OWNER SUITE, FORMAL LIVING, FORMAL DINING, HUGE FAMILY ROOM, OVERSIZED LOFT, OWNERS SUITE WITH SITTING RETREAT, JETTED TUB, DOUBLE WALK IN CLOSETS IN PRIMARY,SEPARATE FLEX/OFFICE SPACE OFF OF OWNERS SUITE, AND BALCONY OFF PRMIARY SUITE WITH SPECTAULAR UNOBSTRUCTED VIEWS OF THE MOUNTAINS, STRIP AND THE CITY. WONDERFUL 13,000 SQ.FT. POOL SIZE LOT.

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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)

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
Dean Lamar Allen Elementary School Primary Regular 660 32 6
Justice M E Leavitt Middle School Middle Regular 1,496 64 NA
Centennial High School High Regular 3,055 124 6

Dean Lamar Allen Elementary School

  • Education Level: Primary
  • # of students: 660
  • # of teachers: 32
6
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
 

$549,000$671,000$610,000

PURCHASE PRICE

$2,583$3,157$2,870

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,870
EXPENSES Loan Payment -$2,251
Property Tax -$398
Property Insurance -$107
Property Management Fees -$119
CASH FLOW
-$4

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.

$610,000

PROJECTED PRICE

$2,870

PROJECTED RENT

0.47%

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

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$167,400

INVESTMENT

$167,400

Down Payment
$152,500
Rehab Estimate
$5,750
Closing Costs
$9,150

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,251

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $152,500
Loan Amount $457,500
See What Happens When You Reinvest Cash Flow

5.75

YEARS SAVED

$47,286

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,870

    LIST RENT
  • $0.7

    LIST RENT PER SQFT
  • $2,874

    COMP ESTIMATED VALUE
  • $0.7

    COMP AVG. RENT PER SQFT
Comps Range
$2,500
1$2,5002$2,7003$2,8504$2,8705$3,200
$3,200
RENT COMPS ANALYSIS
  • 8901 Tierra Santa Avenue Las Vegas, NV 4
    • 4 beds 3 baths ∙ 4,120 Sqft ∙ Built 2003 4 beds 3 baths ∙ 4,120 Sqft ∙ Built 2003
    • Rent
    • Rent Per SQFT
    •  
    • $2,870
    • $0.70
    •  
  • 8901 Tierra Santa Las Vegas, NV 1
    • 4 beds 3 baths ∙ 4,120 Sqft ∙ Built 2003 4 beds 3 baths ∙ 4,120 Sqft ∙ Built 2003
    LEASED 07/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $0.61
    •  
  • 10385 Pilot Mountain Court Las Vegas, NV 2
    • 4 beds 3 baths ∙ 4,036 Sqft ∙ Built 2003 4 beds 3 baths ∙ 4,036 Sqft ∙ Built 2003
    LEASED 09/25/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,700
    • $0.67
    •  
  • 4741 Sand Hawk Court Las Vegas, NV 3
    • 4 beds 2 baths ∙ 3,891 Sqft ∙ Built 1996 4 beds 2 baths ∙ 3,891 Sqft ∙ Built 1996
    LEASED 08/06/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,850
    • $0.73
    •  
  • 6210 Calm Brook Court Las Vegas, NV 5
    • 4 beds 5 baths ∙ 4,104 Sqft ∙ Built 2001 4 beds 5 baths ∙ 4,104 Sqft ∙ Built 2001
    LEASED 07/16/19
    • Rent
    • Rent Per SQFT
    •  
    • $3,200
    • $0.78
    •  
PROPERTY LISTING DETAILS
Virginia Campbell
1.702.349.0598
Coldwell Banker Premier
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2239270
Last Updated: 11/04/2020
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