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8939 Sanibel Shore Avenue Las Vegas, NV 89147

6 Beds 3 Baths 2,860 sqft Built 2001

$420,000

List Price

$2,020

$1.8K - $2.2K

Rent Est.

PROPERTY INFO

November 02, 2020 RECENTLY ADDED
FACTS
  • Built In 2001
  • Price/Sqft : $146.85
  • 2 Days on Market
  • MLS # : 2244141
  • Updated Date : 11/02/2020 at 15:00
CONSTRUCTION
  • Beds : 6
  • Floor Size : 2,860 sqft
  • Baths : 3 full
Listing Agent

Richwell Realty

Listing Agent's Description

One of the few 6Bed/3Bath in Clearwater Cove, Beautiful Gated Community. Full 1 Bed 1 Bath on 1st Floor with Granite Countertop & Island & Tile through out Kitchen & Baths. Private Backyard and Covered Patio with Fruit Trees.

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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)

PRICE & RENT TRENDS

Neighborhood: Spring Valley

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280kPrice in $119k296k

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

Neighborhood: Spring Valley

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2105011001150120012501300135014001450150015501600Rent in $10381606

* 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
Patricia A Bendorf. Elementary School Primary Regular 707 36 9
Lawrence Junior High School Middle Regular 1,421 61 NA
Spring Valley High School High Regular 1,925 79 4

Patricia A Bendorf. Elementary School

  • Education Level: Primary
  • # of students: 707
  • # of teachers: 36
9
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
 

$378,000$462,000$420,000

PURCHASE PRICE

$1,818$2,222$2,020

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,020
EXPENSES Loan Payment -$1,550
Property Tax -$284
Property Insurance -$83
Property Management Fees -$119
CASH FLOW
-$15

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.

$420,000

PROJECTED PRICE

$2,020

PROJECTED RENT

0.48%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.96%
Appreciation Year (1-5) 9.9%
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$1.6M

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$117,050

INVESTMENT

$117,050

Down Payment
$105,000
Rehab Estimate
$5,750
Closing Costs
$6,300

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,550

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $105,000
Loan Amount $315,000
See What Happens When You Reinvest Cash Flow

5.67

YEARS SAVED

$31,251

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,020

    LIST RENT
  • $0.71

    LIST RENT PER SQFT
  • $2,088

    COMP ESTIMATED VALUE
  • $0.73

    COMP AVG. RENT PER SQFT
Comps Range
$2,000
1$2,0002$2,0153$2,0204$2,2505$2,350
$2,350
RENT COMPS ANALYSIS
  • 8939 Sanibel Shore Avenue Las Vegas, NV 3
    • 6 beds 3 baths ∙ 2,860 Sqft ∙ Built 2001 6 beds 3 baths ∙ 2,860 Sqft ∙ Built 2001
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,020
    • $0.71
    •  
  • 8790 Fountain Island Drive Las Vegas, NV 1
    • 5 beds 2 baths ∙ 2,661 Sqft ∙ Built 1996 5 beds 2 baths ∙ 2,661 Sqft ∙ Built 1996
    property image
    LEASED 04/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $0.75
    •  
  • 3826 Palm Island Court #- Las Vegas, NV 2
    • 6 beds 3 baths ∙ 3,036 Sqft ∙ Built 2002 6 beds 3 baths ∙ 3,036 Sqft ∙ Built 2002
    property image
    LEASED 06/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,015
    • $0.66
    •  
  • 8900 Waltzing Waters Court Las Vegas, NV 4
    • 5 beds 4 baths ∙ 3,036 Sqft ∙ Built 2001 5 beds 4 baths ∙ 3,036 Sqft ∙ Built 2001
    property image
    LEASED 10/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,250
    • $0.74
    •  
  • 3840 Cape Royal Street Las Vegas, NV 5
    • 5 beds 3 baths ∙ 3,036 Sqft ∙ Built 2002 5 beds 3 baths ∙ 3,036 Sqft ∙ Built 2002
    property image
    LEASED 07/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,350
    • $0.77
    •  
PROPERTY LISTING DETAILS
Yi T Chao
1.702.982.9565
Richwell Realty
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2244141
Last Updated: 11/02/2020
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