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8917 Beach Front Drive Las Vegas, NV 89117

4 Beds 3 Baths 1,680 sqft Built 1985

$345,000

List Price

$1,570

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

January 24, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1985
  • Price/Sqft : $205.36
  • 2 Days on Market
  • MLS # : 2263783
  • Updated Date : 01/24/2021 at 03:30
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,680 sqft
  • Baths : 2 full , 1 half
Listing Agent

Keller Williams Realty Las Vegas

Listing Agent's Description

Upgraded, rare 4 bedroom single story home in The Lakes. Walk in to this lovely open living room with contemporary design fireplace and hard floors throughout. Modern wood-like ceramic tile flooring in dining room and kitchen. Kitchen has quartz countertops with backsplash, upgraded sink & lighting, stainless refrigerator. Both bathrooms have been fully upgraded with laminate plank floors, quartz counters & sleek, step in shower enclosures. Spacious primary bedroom with high ceiling & upgraded en suite. 4th bedroom at rear of home with own door to backyard. Home has recess lighting, ceiling fans, separate laundry area, 2 car garage with water softener and storage shelves. Backyard patio lined with fruit trees. Low maintenance desert landscaping in front yard. Home is on a culdesac in a well established neighborhood with low HOA and quick access to Downtown Summerlin, shopping, entertainment and freeways.

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: West Sahara

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300kPrice in $119k308k

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

Neighborhood: West Sahara

NeighborhoodNIR Market*CityMarket2010Year20002019 Q211001150120012501300135014001450150015501600Rent in $10621618

* 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
M.j. Christensen Elementary School Primary Regular 615 34 6
Lawrence Junior High School Middle Regular 1,421 61 NA
Spring Valley High School High Regular 1,925 79 4

M.j. Christensen Elementary School

  • Education Level: Primary
  • # of students: 615
  • # of teachers: 34
6
GreatSchools Rating

Lawrence Junior High School

  • Education Level: Middle
  • # of students: 1,421
  • # of teachers: 61
NA
GreatSchools Rating

Spring Valley High School

  • Education Level: High
  • # of students: 1,925
  • # of teachers: 79
4
GreatSchools Rating
 

$310,500$379,500$345,000

PURCHASE PRICE

$1,413$1,727$1,570

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,570
EXPENSES Loan Payment -$1,198
Property Tax -$206
Property Insurance -$60
Property Management Fees -$119
CASH FLOW
-$13

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.

$345,000

PROJECTED PRICE

$1,570

PROJECTED RENT

0.46%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.96%
Appreciation Year (1-5) 10.0%
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$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$1.2M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$97,175

INVESTMENT

$97,175

Down Payment
$86,250
Rehab Estimate
$5,750
Closing Costs
$5,175

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,198

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $86,250
Loan Amount $258,750
See What Happens When You Reinvest Cash Flow

5.58

YEARS SAVED

$21,376

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,570

    LIST RENT
  • $0.93

    LIST RENT PER SQFT
  • $1,621

    COMP ESTIMATED VALUE
  • $0.97

    COMP AVG. RENT PER SQFT
Comps Range
$1,545
1$1,5452$1,5703$1,6004$1,7505$1,795
$1,795
RENT COMPS ANALYSIS
  • 8917 Beach Front Drive Las Vegas, NV 2
    • 4 beds 3 baths ∙ 1,680 Sqft ∙ Built 1985 4 beds 3 baths ∙ 1,680 Sqft ∙ Built 1985
    • Rent
    • Rent Per SQFT
    •  
    • $1,570
    • $0.93
    •  
  • 3005 Ocean View Drive Las Vegas, NV 1
    • 3 beds 3 baths ∙ 1,574 Sqft ∙ Built 1989 3 beds 3 baths ∙ 1,574 Sqft ∙ Built 1989
    LEASED 12/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,545
    • $0.98
    •  
  • 3029 Harborside Drive #0 Las Vegas, NV 3
    • 3 beds 4 baths ∙ 1,738 Sqft ∙ Built 1985 3 beds 4 baths ∙ 1,738 Sqft ∙ Built 1985
    LEASED 08/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $0.92
    •  
  • 3229 Canyon Lake Drive #0 Las Vegas, NV 4
    • 3 beds 3 baths ∙ 1,804 Sqft ∙ Built 1988 3 beds 3 baths ∙ 1,804 Sqft ∙ Built 1988
    LEASED 11/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.97
    •  
  • 3009 Harborside Drive Las Vegas, NV 5
    • 3 beds 3 baths ∙ 1,808 Sqft ∙ Built 1986 3 beds 3 baths ∙ 1,808 Sqft ∙ Built 1986
    LEASED 07/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,795
    • $0.99
    •  
PROPERTY LISTING DETAILS
Paul Gilroy
1.702.239.7509
Keller Williams Realty Las Vegas
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2263783
Last Updated: 01/24/2021
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