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8981 Rivers Edge Drive Las Vegas, NV 89117

3 Beds 2 Baths 2,162 sqft Built 1994

INVESTimate

$445,000

List Price

$1,900

$1,710 - $2,090

Rent Est.

$477,886  ( +7.39%)   1 YR EST. FORECAST

PROPERTY INFO

August 22, 2020 RECENTLY ADDED
FACTS
  • Built In 1994
  • Price/Sqft : $205.83
  • 5 Days on Market
  • MLS # : 2224120
  • Updated Date : 08/25/2020 at 11:14
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,162 sqft
  • Baths : 2 full
Listing Agent

Garden Realty Llc

Listing Agent's Description

Great single story home inside beautiful golf community of Canyon Gate Country Club. Guard gated. Features 2,163 Sqf W/3 bedrooms, 2 baths, 1 den & 2 car garage. Brand new remodeled with brand new paint, laminated flooring. Plantation Shutter, two-way fireplace, built-in covered patio. Next shopping, dining.........

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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: Canyon Gate

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320k340k360k380kPrice in $119k384k

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

Neighborhood: Canyon Gate

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21100120013001400150016001700180019002000Rent in $10762045

* 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
 

$400,500$489,500$445,000

PURCHASE PRICE

$1,710$2,090$1,900

RENT

DOWN PAYMENT
FINANCING

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-$10k-$5.0k$0.0$5.0k$10k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,900
EXPENSES Loan Payment -$1,642
Property Tax -$277
Property Insurance -$69
HOA -$327
Property Management Fees -$119
CASH FLOW
-$534

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.

$445,000

PROJECTED PRICE

$1,900

PROJECTED RENT

0.43%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.96%
Appreciation Year (1-5) 7.39%
Maintenance Year (1-5) 8.00%
Vacancy 7.63%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$123,675

INVESTMENT

$123,675

Down Payment
$111,250
Rehab Estimate
$5,750
Closing Costs
$6,675

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 70% down payment or higher enables the proceeds from the asset to cover all costs.

$1,642

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $111,250
Loan Amount $333,750
See What Happens When You Reinvest Cash Flow

0.42

YEARS SAVED

$693

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,900

    LIST RENT
  • $0.88

    LIST RENT PER SQFT
  • $1,919

    COMP ESTIMATED VALUE
  • $0.89

    COMP AVG. RENT PER SQFT
Comps Range
$1,600
1$1,6002$1,8853$1,9004$1,9485$2,195
$2,195
RENT COMPS ANALYSIS
  • 8981 Rivers Edge Drive Las Vegas, NV 3
    • 3 beds 2 baths ∙ 2,162 Sqft ∙ Built 1994 3 beds 2 baths ∙ 2,162 Sqft ∙ Built 1994
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,900
    • $0.88
    •  
  • 1801 Shirewick Drive Las Vegas, NV 1
    • 3 beds 3 baths ∙ 1,972 Sqft ∙ Built 1995 3 beds 3 baths ∙ 1,972 Sqft ∙ Built 1995
    property image
    LEASED 12/20/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $0.81
    •  
  • 1512 Oderzo Lane #0 Las Vegas, NV 2
    • 4 beds 2 baths ∙ 2,172 Sqft ∙ Built 1985 4 beds 2 baths ∙ 2,172 Sqft ∙ Built 1985
    property image
    LEASED 05/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,885
    • $0.87
    •  
  • 8741 Potenza Lane Las Vegas, NV 4
    • 4 beds 1 baths ∙ 2,172 Sqft ∙ Built 1984 4 beds 1 baths ∙ 2,172 Sqft ∙ Built 1984
    property image
    LEASED 04/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,948
    • $0.90
    •  
  • 8972 Echo Ridge Drive Las Vegas, NV 5
    • 3 beds 1 baths ∙ 2,267 Sqft ∙ Built 1994 3 beds 1 baths ∙ 2,267 Sqft ∙ Built 1994
    property image
    LEASED 06/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,195
    • $0.97
    •  
PROPERTY LISTING DETAILS
Michael M Cheung
1.702.480.7234
Garden Realty Llc
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2224120
Last Updated: 08/25/2020
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