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8961 Horizon Hyatt Avenue Las Vegas, NV 89178

3 Beds 3 Baths 1,845 sqft Built 2013

INVESTimate

$309,000

List Price

$1,450

$1,305 - $1,595

Rent Est.

$335,080  ( +8.44%)   1 YR EST. FORECAST

PROPERTY INFO

August 21, 2020 RECENTLY ADDED
FACTS
  • Built In 2013
  • Price/Sqft : $167.48
  • 7 Days on Market
  • MLS # : 2223082
  • Updated Date : 08/25/2020 at 21:34
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,845 sqft
  • Baths : 2 full , 1 half
Listing Agent

Realty One Group, Inc

Listing Agent's Description

Magnificent mountains edge property. 3 bedrooms, 2 1/2 Bathrooms, Kitchen features stainless fridge & microwave, granite counter tops. First floor has new vinyl flooring through out Living room, dining room and kitchen area. 2 large walk in closets in the master bedroom, one converted to a media room. Loft area separates MBR from other 2 bedrooms. Extra large 2 car garage, about 1 1/2 cars deep with workbench & shelving. New above ground Spa w/equipment included -only 2 months old and a new gas fire pit to enjoy. Ring cameras and doorbell will convey with the home. Close proximity to mountains edge park, fire station and dog park. Well maintained and ready for its new loving occupants to move in and take care of the home.

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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: Mountain Edge

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320k340k360kPrice in $119k362k

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

Neighborhood: Mountain Edge

NeighborhoodNIR Market*CityMarket2010Year20002019 Q211001200130014001500160017001800Rent in $10391875

* 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
William V. Wright Elementary School Primary Regular 1,256 62 8
Lawrence And Heidi Canarelli Middle School Middle Regular 1,802 70 NA
Desert Oasis High School High Regular 2,417 102 5

William V. Wright Elementary School

  • Education Level: Primary
  • # of students: 1,256
  • # of teachers: 62
8
GreatSchools Rating

Lawrence And Heidi Canarelli Middle School

  • Education Level: Middle
  • # of students: 1,802
  • # of teachers: 70
NA
GreatSchools Rating

Desert Oasis High School

  • Education Level: High
  • # of students: 2,417
  • # of teachers: 102
5
GreatSchools Rating
 

$278,100$339,900$309,000

PURCHASE PRICE

$1,305$1,595$1,450

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 $1,450
EXPENSES Loan Payment -$1,140
Property Tax -$242
Property Insurance -$63
HOA -$55
Property Management Fees -$119
CASH FLOW
-$169

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.

$309,000

PROJECTED PRICE

$1,450

PROJECTED RENT

0.47%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.05%
Appreciation Year (1-5) 8.44%
Maintenance Year (1-5) 8.00%
Vacancy 7.57%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$87,635

INVESTMENT

$87,635

Down Payment
$77,250
Rehab Estimate
$5,750
Closing Costs
$4,635

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 60% down payment or higher enables the proceeds from the asset to cover all costs.

$1,140

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $77,250
Loan Amount $231,750
See What Happens When You Reinvest Cash Flow

3.25

YEARS SAVED

$9,512

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,450

    LIST RENT
  • $0.79

    LIST RENT PER SQFT
  • $1,624

    COMP ESTIMATED VALUE
  • $0.88

    COMP AVG. RENT PER SQFT
Comps Range
$1,450
1$1,4502$1,5503$1,6754$1,7005$1,700
$1,700
RENT COMPS ANALYSIS
  • 8961 Horizon Hyatt Avenue Las Vegas, NV 1
    • 3 beds 3 baths ∙ 1,845 Sqft ∙ Built 2013 3 beds 3 baths ∙ 1,845 Sqft ∙ Built 2013
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $0.79
    •  
  • 10072 Riley Street Las Vegas, NV 2
    • 4 beds 3 baths ∙ 1,898 Sqft ∙ Built 2007 4 beds 3 baths ∙ 1,898 Sqft ∙ Built 2007
    LEASED 02/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $0.82
    •  
  • 10045 Heritage Desert Street Las Vegas, NV 3
    • 3 beds 3 baths ∙ 1,885 Sqft ∙ Built 2013 3 beds 3 baths ∙ 1,885 Sqft ∙ Built 2013
    LEASED 09/25/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,675
    • $0.89
    •  
  • 8939 Marble Light Avenue Las Vegas, NV 4
    • 3 beds 3 baths ∙ 1,845 Sqft ∙ Built 2013 3 beds 3 baths ∙ 1,845 Sqft ∙ Built 2013
    LEASED 11/01/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $0.92
    •  
  • 9839 Maspalomas Street Las Vegas, NV 5
    • 4 beds 4 baths ∙ 1,905 Sqft ∙ Built 2007 4 beds 4 baths ∙ 1,905 Sqft ∙ Built 2007
    LEASED 04/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $0.89
    •  
PROPERTY LISTING DETAILS
Sylvia Kilo
1.702.423.2957
Realty One Group, Inc
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2223082
Last Updated: 08/25/2020
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