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8928 Napoli Drive Las Vegas, NV 89117

4 Beds 1 Baths 2,172 sqft Built 1985

$425,000

List Price

$1,960

$1.8K - $2.2K

Rent Est.

PROPERTY INFO

January 16, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1985
  • Price/Sqft : $195.67
  • 4 Days on Market
  • MLS # : 2261994
  • Updated Date : 01/16/2021 at 19:30
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,172 sqft
  • Baths : 1 full
Listing Agent

Re/max Central

Listing Agent's Description

This beautiful custom two story tri-level 4 bedroom home is on a large corner lot, and a must see. Upon entry, a few steps up takes you to a spectacular open living, kitchen and dining area. Go down a few steps to a the family room with wood burning fireplace, wet bar and spectacular outdoor view. Downstairs bedroom and full bath, perfect for office or guests. Go upstairs and one large master, separate from others, plus two other bedrooms with custom bathrooms that include granite countertops, modern sinks and porcelain tile. Three car garage leads to separate laundry room and oversized backyard with gated RV parking. This home has been updated from top to bottom, inside and out. New paint, flooring, custom lighting, blinds, cabinetry, closets and appliances. And, No HOA! Move in and enjoy this classic, comfortable, modern home.

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: Canyon Gate

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320k340k360k380kPrice in $119k384k

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

Neighborhood: Canyon Gate

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21100120013001400150016001700180019002000Rent in $10762045

* 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
D'voree And Hall Ober Elementary School Primary Regular 669 39 8
Walter Johnson Junior High School Middle Regular 1,102 50 NA
Bonanza High School High Regular 2,003 83 3

D'voree And Hall Ober Elementary School

  • Education Level: Primary
  • # of students: 669
  • # of teachers: 39
8
GreatSchools Rating

Walter Johnson Junior High School

  • Education Level: Middle
  • # of students: 1,102
  • # of teachers: 50
NA
GreatSchools Rating

Bonanza High School

  • Education Level: High
  • # of students: 2,003
  • # of teachers: 83
3
GreatSchools Rating
 

$382,500$467,500$425,000

PURCHASE PRICE

$1,764$2,156$1,960

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,960
EXPENSES Loan Payment -$1,476
Property Tax -$221
Property Insurance -$69
Property Management Fees -$119
CASH FLOW
$75

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.

$425,000

PROJECTED PRICE

$1,960

PROJECTED RENT

0.46%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.96%
Appreciation Year (1-5) 7.4%
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$1.4M

PROJECTED ANNUAL CASH FLOW

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

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$118,375

INVESTMENT

$118,375

Down Payment
$106,250
Rehab Estimate
$5,750
Closing Costs
$6,375

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,476

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $106,250
Loan Amount $318,750
See What Happens When You Reinvest Cash Flow

6.67

YEARS SAVED

$35,004

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,960

    LIST RENT
  • $0.9

    LIST RENT PER SQFT
  • $1,955

    COMP ESTIMATED VALUE
  • $0.9

    COMP AVG. RENT PER SQFT
Comps Range
$1,875
1$1,8752$1,8853$1,9484$1,9605$2,195
$2,195
RENT COMPS ANALYSIS
  • 8928 Napoli Drive Las Vegas, NV 4
    • 4 beds 1 baths ∙ 2,172 Sqft ∙ Built 1985 4 beds 1 baths ∙ 2,172 Sqft ∙ Built 1985
    • Rent
    • Rent Per SQFT
    •  
    • $1,960
    • $0.90
    •  
  • 1521 Padova Drive Las Vegas, NV 1
    • 4 beds 2 baths ∙ 2,172 Sqft ∙ Built 1984 4 beds 2 baths ∙ 2,172 Sqft ∙ Built 1984
    LEASED 10/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,875
    • $0.86
    •  
  • 1512 Oderzo Lane #0 Las Vegas, NV 2
    • 4 beds 2 baths ∙ 2,172 Sqft ∙ Built 1985 4 beds 2 baths ∙ 2,172 Sqft ∙ Built 1985
    LEASED 05/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,885
    • $0.87
    •  
  • 8741 Potenza Lane Las Vegas, NV 3
    • 4 beds 1 baths ∙ 2,172 Sqft ∙ Built 1984 4 beds 1 baths ∙ 2,172 Sqft ∙ Built 1984
    LEASED 04/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,948
    • $0.90
    •  
  • 8972 Echo Ridge Drive Las Vegas, NV 5
    • 3 beds 1 baths ∙ 2,267 Sqft ∙ Built 1994 3 beds 1 baths ∙ 2,267 Sqft ∙ Built 1994
    LEASED 06/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,195
    • $0.97
    •  
PROPERTY LISTING DETAILS
Jodie A Dames
1.702.912.6182
Re/max Central
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2261994
Last Updated: 01/16/2021
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