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8932 Fargo Fair Court Las Vegas, NV 89149

3 Beds 3 Baths 1,782 sqft Built 2005

INVESTimate

$289,500

List Price

$1,390

$1,251 - $1,529

Rent Est.

$319,376  ( +10.32%)   1 YR EST. FORECAST

PROPERTY INFO

August 21, 2020 RECENTLY ADDED
FACTS
  • Built In 2005
  • Price/Sqft : $162.46
  • 6 Days on Market
  • MLS # : 2223241
  • Updated Date : 08/21/2020 at 09:30
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,782 sqft
  • Baths : 2 full , 1 half
Listing Agent

Synergy Sothebys Int'l Realty

Listing Agent's Description

Fabulous 3 bedroom + loft, 2.5 bath home in Centenninal Hills! This gated community includes it’s own park and is very close to fabulous shopping, dining, and the Centennial Hills Transit Center and Park & Ride. Newer paint, carpet, and stainless steel appliances are less than 1 year old. Truly move in ready and in fantastic condition. Nice neutral palate of colors, all tile floors on first floor and a 2 car garage. Welcome 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: Centennial Hills

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320k340k360kPrice in $119k362k

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

Neighborhood: Centennial Hills

NeighborhoodNIR Market*CityMarket2010Year20002019 Q211001200130014001500160017001800Rent in $10761875

* 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
Sandra L. Thompson Elementary School Primary Regular 798 39 8
Edmundo Eddie Escobedo Sr Middle School Middle Regular 1,171 47 NA
Arbor View High School High Regular 2,878 116 9

Sandra L. Thompson Elementary School

  • Education Level: Primary
  • # of students: 798
  • # of teachers: 39
8
GreatSchools Rating

Edmundo Eddie Escobedo Sr Middle School

  • Education Level: Middle
  • # of students: 1,171
  • # of teachers: 47
NA
GreatSchools Rating

Arbor View High School

  • Education Level: High
  • # of students: 2,878
  • # of teachers: 116
9
GreatSchools Rating
 

$260,550$318,450$289,500

PURCHASE PRICE

$1,251$1,529$1,390

RENT

DOWN PAYMENT
FINANCING

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$200k$400k$600k$800k$1.0M

PROJECTED ANNUAL CASH FLOW

11530-$4.0k-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k

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 $1,390
EXPENSES Loan Payment -$1,068
Property Tax -$222
Property Insurance -$62
HOA -$65
Property Management Fees -$119
CASH FLOW
-$146

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.

$289,500

PROJECTED PRICE

$1,390

PROJECTED RENT

0.48%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.05%
Appreciation Year (1-5) 10.32%
Maintenance Year (1-5) 8.00%
Vacancy 7.57%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$82,468

INVESTMENT

$82,468

Down Payment
$72,375
Rehab Estimate
$5,750
Closing Costs
$4,343

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$1,068

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $72,375
Loan Amount $217,125
See What Happens When You Reinvest Cash Flow

3.42

YEARS SAVED

$9,759

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,390

    LIST RENT
  • $0.78

    LIST RENT PER SQFT
  • $1,421

    COMP ESTIMATED VALUE
  • $0.8

    COMP AVG. RENT PER SQFT
Comps Range
$1,390
1$1,3902$1,3953$1,4954$1,4955$1,495
$1,495
RENT COMPS ANALYSIS
  • 8932 Fargo Fair Court Las Vegas, NV 1
    • 3 beds 3 baths ∙ 1,782 Sqft ∙ Built 2005 3 beds 3 baths ∙ 1,782 Sqft ∙ Built 2005
    • Rent
    • Rent Per SQFT
    •  
    • $1,390
    • $0.78
    •  
  • 8940 Fargo Fair Court #0 Las Vegas, NV 2
    • 3 beds 3 baths ∙ 1,783 Sqft ∙ Built 2005 3 beds 3 baths ∙ 1,783 Sqft ∙ Built 2005
    LEASED 05/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,395
    • $0.78
    •  
  • 8949 Miller Point Court Las Vegas, NV 3
    • 4 beds 3 baths ∙ 1,871 Sqft ∙ Built 2006 4 beds 3 baths ∙ 1,871 Sqft ∙ Built 2006
    LEASED 03/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,495
    • $0.80
    •  
  • 8957 Sunrise Mesa Court #house Las Vegas, NV 4
    • 4 beds 3 baths ∙ 1,872 Sqft ∙ Built 2006 4 beds 3 baths ∙ 1,872 Sqft ∙ Built 2006
    LEASED 06/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,495
    • $0.80
    •  
  • 8953 Tamar Sage Court Las Vegas, NV 5
    • 4 beds 3 baths ∙ 1,837 Sqft ∙ Built 2005 4 beds 3 baths ∙ 1,837 Sqft ∙ Built 2005
    LEASED 06/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,495
    • $0.81
    •  
PROPERTY LISTING DETAILS
Robin M Compagno
1.702.241.8243
Synergy Sothebys Int'l Realty
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2223241
Last Updated: 08/21/2020
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