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8953 Paige Rene Court Las Vegas, NV 89117

3 Beds 3 Baths 1,816 sqft Built 1993

$395,000

List Price

$1,580

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

November 01, 2020 RECENTLY ADDED
FACTS
  • Built In 1993
  • Price/Sqft : $217.51
  • 3 Days on Market
  • MLS # : 2242803
  • Updated Date : 11/02/2020 at 21:12
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,816 sqft
  • Baths : 2 full , 1 half
Listing Agent

Life Realty District

Listing Agent's Description

Beautiful Home with Private Pool and a great waterfall! You will fall in love with this home and this Quaint Gated Community. Wonderful School District. All Stainless Appliances. Wonderful Home for Entertaining. Beautiful Pendant Lighting over Kitchen Bar area. Wonderful Corner lot with beautiful mature dessert landscaping with beautiful Palm trees. Master Bedroom has walk in closet and double sinks. Guest rooms have Jack and Jill bathroom. Washer and Dryer are located on the second floor. Nice laminate and tile flooring with carpet in Family room.

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
 

$355,500$434,500$395,000

PURCHASE PRICE

$1,422$1,738$1,580

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,580
EXPENSES Loan Payment -$1,457
Property Tax -$202
Property Insurance -$62
Property Management Fees -$119
CASH FLOW
-$261

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.

$395,000

PROJECTED PRICE

$1,580

PROJECTED RENT

0.40%

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

PROJECTED ANNUAL CASH FLOW

11530-$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$110,425

INVESTMENT

$110,425

Down Payment
$98,750
Rehab Estimate
$5,750
Closing Costs
$5,925

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,457

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $98,750
Loan Amount $296,250
See What Happens When You Reinvest Cash Flow

2.75

YEARS SAVED

$10,003

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,580

    LIST RENT
  • $0.87

    LIST RENT PER SQFT
  • $1,612

    COMP ESTIMATED VALUE
  • $0.89

    COMP AVG. RENT PER SQFT
Comps Range
$1,550
1$1,5502$1,5803$1,5954$1,6005$1,795
$1,795
RENT COMPS ANALYSIS
  • 8953 Paige Rene Court Las Vegas, NV 2
    • 3 beds 3 baths ∙ 1,816 Sqft ∙ Built 1993 3 beds 3 baths ∙ 1,816 Sqft ∙ Built 1993
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,580
    • $0.87
    •  
  • 3396 Diego Bay Circle Las Vegas, NV 1
    • 3 beds 2 baths ∙ 1,901 Sqft ∙ Built 1993 3 beds 2 baths ∙ 1,901 Sqft ∙ Built 1993
    property image
    LEASED 11/06/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $0.82
    •  
  • 3340 Century Plant Street Las Vegas, NV 3
    • 4 beds 3 baths ∙ 1,956 Sqft ∙ Built 2006 4 beds 3 baths ∙ 1,956 Sqft ∙ Built 2006
    property image
    LEASED 10/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $0.82
    •  
  • 8967 Via Vista Circle Las Vegas, NV 4
    • 3 beds 3 baths ∙ 1,650 Sqft ∙ Built 1995 3 beds 3 baths ∙ 1,650 Sqft ∙ Built 1995
    property image
    LEASED 02/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $0.97
    •  
  • 3368 Stacey Lyn Las Vegas, NV 5
    • 4 beds 3 baths ∙ 1,913 Sqft ∙ Built 1993 4 beds 3 baths ∙ 1,913 Sqft ∙ Built 1993
    property image
    LEASED 05/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,795
    • $0.94
    •  
PROPERTY LISTING DETAILS
Eric King
1.303.859.5135
Life Realty District
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2242803
Last Updated: 11/02/2020
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