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8953 Diamond Falls Drive Las Vegas, NV 89117

3 Beds 3 Baths 2,180 sqft Built 1989

$729,000

List Price

$2,320

$2.1K - $2.6K

Rent Est.

PROPERTY INFO

December 12, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1989
  • Price/Sqft : $334.40
  • 4 Days on Market
  • MLS # : 2255090
  • Updated Date : 12/12/2020 at 09:31
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,180 sqft
  • Baths : 2 full , 1 half
Listing Agent

Re/max Central

Listing Agent's Description

Welcome to the “Canyon Gate Country Club” This mediterranean modern style home is perfectly located on the 4th hole & has spectacular views of the golf course, water lagoon, and red rock mountains. As you enter this completely renovated home you will find new carrara marble & white quartzite flooring througout the home. The kitchen counter top is made of a beautiful quartzite stone. The location of this home is one of the best locations on the golf course. Special features include 2 main bedrooms with perfect views. 1 bedroom is conveniently located on the first floor with its own bathroom. The 2nd main bedroom is located upstairs with spectacular views and a balcony to enjoy coffee or wine. With the cross section of all 3 views at once, green fairways of the golf course, water lagoon & Red Rock Mountains. This is the home you will be calling your “forever home”. Other amenities include: Tennis courts, Gym, community pool, Prestigious area for wedding ceremonies.

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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)

PRICE & RENT TRENDS

Neighborhood: Canyon Gate Master

NeighborhoodNIR Market*CityMarket2010Year2000201980k100k120k140k160k180k200k220k240k260k280k300k320k340k360kPrice in $69k362k

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

Neighborhood: Canyon Gate Master

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21200140016001800200022002400260028003000320034003600Rent in $10763795

* 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
 

$656,100$801,900$729,000

PURCHASE PRICE

$2,088$2,552$2,320

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,320
EXPENSES Loan Payment -$2,690
Property Tax -$334
Property Insurance -$69
Property Management Fees -$119
CASH FLOW
-$892

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.

$729,000

PROJECTED PRICE

$2,320

PROJECTED RENT

0.32%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.05%
Appreciation Year (1-5) 3.7%
Maintenance Year (1-5) 8.00%
Vacancy 7.57%
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$1.8M

PROJECTED ANNUAL CASH FLOW

11530-$15k-$10k-$5.0k$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$1.4M$1.6M$1.8M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$198,935

INVESTMENT

$198,935

Down Payment
$182,250
Rehab Estimate
$5,750
Closing Costs
$10,935

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 65% down payment or higher enables the proceeds from the asset to cover all costs.

$2,690

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $182,250
Loan Amount $546,750
See What Happens When You Reinvest Cash Flow

0.67

YEARS SAVED

$2,097

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,320

    LIST RENT
  • $1.06

    LIST RENT PER SQFT
  • $2,049

    COMP ESTIMATED VALUE
  • $0.94

    COMP AVG. RENT PER SQFT
Comps Range
$1,885
1$1,8852$1,9483$2,1954$2,3205$2,400
$2,400
RENT COMPS ANALYSIS
  • 8953 Diamond Falls Drive Las Vegas, NV 4
    • 3 beds 3 baths ∙ 2,180 Sqft ∙ Built 1989 3 beds 3 baths ∙ 2,180 Sqft ∙ Built 1989
    • Rent
    • Rent Per SQFT
    •  
    • $2,320
    • $1.06
    •  
  • 1512 Oderzo Lane #0 Las Vegas, NV 1
    • 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 2
    • 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 3
    • 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
    •  
  • 2817 Quail Lakes Court Las Vegas, NV 5
    • 4 beds 3 baths ∙ 2,358 Sqft ∙ Built 1987 4 beds 3 baths ∙ 2,358 Sqft ∙ Built 1987
    LEASED 09/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,400
    • $1.02
    •  
PROPERTY LISTING DETAILS
Nicholas Nolte
1.702.767.1179
Re/max Central
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2255090
Last Updated: 12/12/2020
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