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8958 Candice Creek Court Las Vegas, NV 89149

3 Beds 3 Baths 1,988 sqft Built 2006

$318,990

List Price

$1,630

$1.5K - $1.8K

Rent Est.

PROPERTY INFO

December 02, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2006
  • Price/Sqft : $160.46
  • 5 Days on Market
  • MLS # : 2251802
  • Updated Date : 12/03/2020 at 08:28
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,988 sqft
  • Baths : 2 full , 1 half
Listing Agent

Williams & Associates Real Est

Listing Agent's Description

AMAZING MOVE-IN READY HOME WITH UPGRADED FLOORING, NEW CARPET, & PAINT! INSIDE YOU WILL FIND 3 SPACIOUS BEDROOMS, 2.5 BATHROOMS WITH UPGRADED FAUCETS, AN UPSTAIRS LOFT, AND A DOWNSTAIRS DEN/OFFICE THAT CAN BE CONVERTED INTO AN ADDITIONAL BEDROOM. THE HOME BOASTS A SEPARATE FORMAL DINING ROOM, AND A KITCHEN WITH GRANITE COUNTERTOPS, STAINLESS STEEL APPLIANCES, AND LOTS OF CABINET SPACE. THE BACKYARD HAS AN UPGRADED BRICK PATIO, WITH AN EXTRA CONCRETE AREA THAT CAN BE USED FOR A SPA, OR WHATEVER YOUR HEART DESIRES. COME AND SEE THIS HOME SOON AS IT WILL LIKELY BE SOLD ONCE BUYERS SEE THE ABUNDANCE OF UPGRADES IT HAS TO OFFER!

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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: 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
Marshall C. Darnell Elementary School Primary Regular 793 40 6
Edmundo Eddie Escobedo Sr Middle School Middle Regular 1,171 47 NA
Centennial High School High Regular 3,055 124 6

Marshall C. Darnell Elementary School

  • Education Level: Primary
  • # of students: 793
  • # of teachers: 40
6
GreatSchools Rating

Edmundo Eddie Escobedo Sr Middle School

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

Centennial High School

  • Education Level: High
  • # of students: 3,055
  • # of teachers: 124
6
GreatSchools Rating
 

$287,091$350,889$318,990

PURCHASE PRICE

$1,467$1,793$1,630

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,630
EXPENSES Loan Payment -$1,177
Property Tax -$207
Property Insurance -$66
Property Management Fees -$119
CASH FLOW
$61

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.

$318,990

PROJECTED PRICE

$1,630

PROJECTED RENT

0.51%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.05%
Appreciation Year (1-5) 10.3%
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

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$90,282

INVESTMENT

$90,282

Down Payment
$79,748
Rehab Estimate
$5,750
Closing Costs
$4,785

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,177

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $79,748
Loan Amount $239,243
See What Happens When You Reinvest Cash Flow

7.17

YEARS SAVED

$32,305

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,630

    LIST RENT
  • $0.82

    LIST RENT PER SQFT
  • $1,635

    COMP ESTIMATED VALUE
  • $0.82

    COMP AVG. RENT PER SQFT
Comps Range
$1,450
1$1,4502$1,5253$1,6304$1,6505$1,700
$1,700
RENT COMPS ANALYSIS
  • 8958 Candice Creek Court Las Vegas, NV 3
    • 3 beds 3 baths ∙ 1,988 Sqft ∙ Built 2006 3 beds 3 baths ∙ 1,988 Sqft ∙ Built 2006
    • Rent
    • Rent Per SQFT
    •  
    • $1,630
    • $0.82
    •  
  • 9075 Amanda Creek Court #0 Las Vegas, NV 1
    • 3 beds 3 baths ∙ 1,830 Sqft ∙ Built 2007 3 beds 3 baths ∙ 1,830 Sqft ∙ Built 2007
    LEASED 01/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $0.79
    •  
  • 6435 Sean Creek Street Las Vegas, NV 2
    • 3 beds 2 baths ∙ 1,830 Sqft ∙ Built 2007 3 beds 2 baths ∙ 1,830 Sqft ∙ Built 2007
    LEASED 03/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,525
    • $0.83
    •  
  • 9004 Patrick Henry Avenue Las Vegas, NV 4
    • 4 beds 3 baths ∙ 2,045 Sqft ∙ Built 2004 4 beds 3 baths ∙ 2,045 Sqft ∙ Built 2004
    LEASED 10/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.81
    •  
  • 9028 Victor Creek Avenue Las Vegas, NV 5
    • 4 beds 2 baths ∙ 1,988 Sqft ∙ Built 2007 4 beds 2 baths ∙ 1,988 Sqft ∙ Built 2007
    LEASED 10/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $0.86
    •  
PROPERTY LISTING DETAILS
Douglas Williams Jr
1.702.612.4432
Williams & Associates Real Est
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2251802
Last Updated: 12/03/2020
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