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8968 Monte Oro Drive Las Vegas, NV 89131

5 Beds 3 Baths 3,010 sqft Built 2006

$540,000

List Price

$2,360

$2.1K - $2.6K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
February 26, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2006
  • Price/Sqft : $179.40
  • 6 Days on Market
  • MLS # : 2272852
  • Updated Date : 02/27/2021 at 23:44
CONSTRUCTION
  • Beds : 5
  • Floor Size : 3,010 sqft
  • Baths : 3 full
Listing Agent

Bhhs Nevada Properties

Listing Agent's Description

This home checks all the boxes! This 2 story home has 5 bedrooms plus a large den that could be a loft space. 1 guest bedroom downstairs with a full bathroom. The Kitchen features stainless steel appliances, an island, granite countertops and an open concept with the living area. Built in speakers inside and out! Upstairs you will find 4 bedrooms, including the primary bedroom and a large den. Primary bedroom features a walk in closet with custom built ins, a glass shower and separate tub, and a balcony(100k) with amazing mountain views! Step outside to the backyard to enjoy the heated pool/ spa, custom pool gate (10k), mature trees, landscaped and lighted, real grass area. Gas hookup is ready to install an outdoor kitchen. Not only does this home have a 3 car garage and RV parking, the garage comes with storage, workspace, smart opener and epoxy floors. The home also includes 2 nest thermostats, upgraded faucets and shower heads throughout. All new windows and AC units in 2016!

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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: Carmel Canyon

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450k500kPrice in $119k508k

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

Neighborhood: Carmel Canyon

NeighborhoodNIR Market*CityMarket2010Year20002019 Q211001200130014001500160017001800190020002100Rent in $10762124

* 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
Kitty Mcdonough Ward Elementary School Primary Regular 830 43 9
Anthony Saville Middle School Middle Regular 1,494 58 NA
Shadow Ridge High School High Regular 2,697 105 6

Kitty Mcdonough Ward Elementary School

  • Education Level: Primary
  • # of students: 830
  • # of teachers: 43
9
GreatSchools Rating

Anthony Saville Middle School

  • Education Level: Middle
  • # of students: 1,494
  • # of teachers: 58
NA
GreatSchools Rating

Shadow Ridge High School

  • Education Level: High
  • # of students: 2,697
  • # of teachers: 105
6
GreatSchools Rating
 

$486,000$594,000$540,000

PURCHASE PRICE

$2,124$2,596$2,360

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,360
EXPENSES Loan Payment -$1,876
Property Tax -$447
Property Insurance -$85
Property Management Fees -$119
CASH FLOW
-$167

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.

$540,000

PROJECTED PRICE

$2,360

PROJECTED RENT

0.44%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.05%
Appreciation Year (1-5) 10.6%
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$500k$1.0M$1.5M$2.0M

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$500k$1.0M$1.5M$2.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$148,850

INVESTMENT

$148,850

Down Payment
$135,000
Rehab Estimate
$5,750
Closing Costs
$8,100

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,876

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $135,000
Loan Amount $405,000
See What Happens When You Reinvest Cash Flow

4.08

YEARS SAVED

$20,866

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,360

    LIST RENT
  • $0.78

    LIST RENT PER SQFT
  • $2,318

    COMP ESTIMATED VALUE
  • $0.77

    COMP AVG. RENT PER SQFT
Comps Range
$1,995
1$1,9952$2,1503$2,2454$2,3005$2,360
$2,360
RENT COMPS ANALYSIS
  • 8968 Monte Oro Drive Las Vegas, NV 5
    • 5 beds 3 baths ∙ 3,010 Sqft ∙ Built 2006 5 beds 3 baths ∙ 3,010 Sqft ∙ Built 2006
    • Rent
    • Rent Per SQFT
    •  
    • $2,360
    • $0.78
    •  
  • 6804 Shalimar Pointe Court Las Vegas, NV 1
    • 4 beds 4 baths ∙ 2,897 Sqft ∙ Built 2005 4 beds 4 baths ∙ 2,897 Sqft ∙ Built 2005
    LEASED 12/06/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,995
    • $0.69
    •  
  • 8101 Calico Wind Street Las Vegas, NV 2
    • 4 beds 3 baths ∙ 2,791 Sqft ∙ Built 2003 4 beds 3 baths ∙ 2,791 Sqft ∙ Built 2003
    LEASED 01/02/21
    • Rent
    • Rent Per SQFT
    •  
    • $2,150
    • $0.77
    •  
  • 8039 Maple Park Street Las Vegas, NV 3
    • 5 beds 4 baths ∙ 2,763 Sqft ∙ Built 2009 5 beds 4 baths ∙ 2,763 Sqft ∙ Built 2009
    LEASED 02/11/21
    • Rent
    • Rent Per SQFT
    •  
    • $2,245
    • $0.81
    •  
  • 8250 Point Given Street Las Vegas, NV 4
    • 4 beds 3 baths ∙ 2,824 Sqft ∙ Built 2005 4 beds 3 baths ∙ 2,824 Sqft ∙ Built 2005
    LEASED 04/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $0.81
    •  
PROPERTY LISTING DETAILS
Julianne Wright
1.702.941.7100
Bhhs Nevada Properties
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2272852
Last Updated: 02/27/2021
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