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8927 Marble Light Avenue Las Vegas, NV 89178

3 Beds 4 Baths 2,243 sqft Built 2013

INVESTimate

$350,000

List Price

$1,610

$1,449 - $1,771

Rent Est.

$379,540  ( +8.44%)   1 YR EST. FORECAST

PROPERTY INFO

August 21, 2020 RECENTLY ADDED
FACTS
  • Built In 2013
  • Price/Sqft : $156.04
  • 7 Days on Market
  • MLS # : 2220038
  • Updated Date : 08/21/2020 at 00:30
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,243 sqft
  • Baths : 3 full , 1 half
Listing Agent

Re/max Central

Listing Agent's Description

ROOFTOP home in the master planned community of Mountains Edge**Come check out this three bedroom beauty!**Dual masters**Freshly painted and move in ready**The corner lot makes this home have a much larger yard than the other homes in this community**Home is right next to Nathaniel Jones Park where there are multiple dog parks as well as other amenities*Come see the home today and truly enjoy the valley fireworks from the rooftop!

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: Mountain Edge

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320k340k360kPrice in $119k362k

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

Neighborhood: Mountain Edge

NeighborhoodNIR Market*CityMarket2010Year20002019 Q211001200130014001500160017001800Rent in $10391875

* 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
William V. Wright Elementary School Primary Regular 1,256 62 8
Lawrence And Heidi Canarelli Middle School Middle Regular 1,802 70 NA
Desert Oasis High School High Regular 2,417 102 5

William V. Wright Elementary School

  • Education Level: Primary
  • # of students: 1,256
  • # of teachers: 62
8
GreatSchools Rating

Lawrence And Heidi Canarelli Middle School

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

Desert Oasis High School

  • Education Level: High
  • # of students: 2,417
  • # of teachers: 102
5
GreatSchools Rating
 

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

PURCHASE PRICE

$1,449$1,771$1,610

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-$5.0k$0.0$5.0k$10k

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 $1,610
EXPENSES Loan Payment -$1,291
Property Tax -$272
Property Insurance -$71
HOA -$55
Property Management Fees -$119
CASH FLOW
-$198

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

$1,610

PROJECTED RENT

0.46%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.05%
Appreciation Year (1-5) 8.44%
Maintenance Year (1-5) 8.00%
Vacancy 7.57%
Length of Stay Years 2

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 60% 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

3.08

YEARS SAVED

$10,125

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,610

    LIST RENT
  • $0.72

    LIST RENT PER SQFT
  • $1,643

    COMP ESTIMATED VALUE
  • $0.73

    COMP AVG. RENT PER SQFT
Comps Range
$1,490
1$1,4902$1,5003$1,6104$1,6505$1,800
$1,800
RENT COMPS ANALYSIS
  • 8927 Marble Light Avenue Las Vegas, NV 3
    • 3 beds 4 baths ∙ 2,243 Sqft ∙ Built 2013 3 beds 4 baths ∙ 2,243 Sqft ∙ Built 2013
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,610
    • $0.72
    •  
  • 9094 Parkstone Avenue #0 Las Vegas, NV 1
    • 4 beds 2 baths ∙ 2,118 Sqft ∙ Built 2007 4 beds 2 baths ∙ 2,118 Sqft ∙ Built 2007
    property image
    LEASED 04/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,490
    • $0.70
    •  
  • 8940 Harmony Hall Avenue Las Vegas, NV 2
    • 4 beds 3 baths ∙ 2,159 Sqft ∙ Built 2013 4 beds 3 baths ∙ 2,159 Sqft ∙ Built 2013
    property image
    LEASED 10/01/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $0.69
    •  
  • 8928 Harmony Hall Avenue Las Vegas, NV 4
    • 4 beds 3 baths ∙ 2,160 Sqft ∙ Built 2013 4 beds 3 baths ∙ 2,160 Sqft ∙ Built 2013
    property image
    LEASED 10/04/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.76
    •  
  • 9065 Sendero Avenue Las Vegas, NV 5
    • 4 beds 3 baths ∙ 2,313 Sqft ∙ Built 2006 4 beds 3 baths ∙ 2,313 Sqft ∙ Built 2006
    property image
    LEASED 02/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $0.78
    •  
PROPERTY LISTING DETAILS
Derek Delp
1.702.499.4520
Re/max Central
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2220038
Last Updated: 08/21/2020
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