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8990 Palazzi Street Las Vegas, NV 89113

4 Beds 4 Baths 3,878 sqft Built 2013

$894,900

List Price

$2,770

$2.5K - $3K

Rent Est.

PROPERTY INFO

December 04, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2013
  • Price/Sqft : $230.76
  • 3 Days on Market
  • MLS # : 2253450
  • Updated Date : 12/04/2020 at 12:06
CONSTRUCTION
  • Beds : 4
  • Floor Size : 3,878 sqft
  • Baths : 3 full , 1 half
Listing Agent

Keller Williams Southern Nevada

Listing Agent's Description

Model-like single-story home story home sitting on .46 acre lot has a luxury pool w/ waterfall home is located in privately gated Canyon Falls. Open & flowing floor plan with high ceilings lots of windows to enjoy the sunlight, decorative stone fully landscaped yard and home with neutral colors throughout. The gorgeous gourmet kitchen has granite, counters with stainless steel appliances, and a large island with an abundance of cabinetry. The generous Primary bedroom a large retreat area with 2 full and separate walk-in closets! The primary bathroom has a relaxing spa-like tub. All additional bedrooms are ensuite. A cozy office sits near the entrance. Relax in the inviting heated pool with a waterfall and attached spa on a large .46 acre lot. Lots of room to entertain or simply to relax in. Minutes from the Las Vegas strip and new Las Vegas Raiders stadium!

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: Enterprise

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320k340k360kPrice in $119k362k

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

Neighborhood: Enterprise

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2100011001200130014001500160017001800Rent in $9981875

* 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
Judi D. Steele Elementary School Primary Regular 858 43 8
Lawrence And Heidi Canarelli Middle School Middle Regular 1,802 70 NA
Sierra Vista High School High Regular 2,396 88 4

Judi D. Steele Elementary School

  • Education Level: Primary
  • # of students: 858
  • # of teachers: 43
8
GreatSchools Rating

Lawrence And Heidi Canarelli Middle School

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

Sierra Vista High School

  • Education Level: High
  • # of students: 2,396
  • # of teachers: 88
4
GreatSchools Rating
 

$805,410$984,390$894,900

PURCHASE PRICE

$2,493$3,047$2,770

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,770
EXPENSES Loan Payment -$3,302
Property Tax -$660
Property Insurance -$102
Property Management Fees -$119
CASH FLOW
-$1,413

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.

$894,900

PROJECTED PRICE

$2,770

PROJECTED RENT

0.31%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.05%
Appreciation Year (1-5) 9.8%
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$2.5M$3.0M

PROJECTED ANNUAL CASH FLOW

11530-$25k-$20k-$15k-$10k-$5.0k$0.0$5.0k$10k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$500k$1.0M$1.5M$2.0M$2.5M$3.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$242,899

INVESTMENT

$242,899

Down Payment
$223,725
Rehab Estimate
$5,750
Closing Costs
$13,424

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$3,302

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $223,725
Loan Amount $671,175
See What Happens When You Reinvest Cash Flow

0.17

YEARS SAVED

$115

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,770

    LIST RENT
  • $0.71

    LIST RENT PER SQFT
  • $2,967

    COMP ESTIMATED VALUE
  • $0.77

    COMP AVG. RENT PER SQFT
Comps Range
$2,395
1$2,3952$2,7703$2,7954$3,2005$3,599
$3,599
RENT COMPS ANALYSIS
  • 8990 Palazzi Street Las Vegas, NV 2
    • 4 beds 4 baths ∙ 3,878 Sqft ∙ Built 2013 4 beds 4 baths ∙ 3,878 Sqft ∙ Built 2013
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,770
    • $0.71
    •  
  • 9516 Dawn Heights Court Las Vegas, NV 1
    • 5 beds 4 baths ∙ 3,628 Sqft ∙ Built 2007 5 beds 4 baths ∙ 3,628 Sqft ∙ Built 2007
    property image
    LEASED 08/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,395
    • $0.66
    •  
  • 9042 Cedar Fort Court Las Vegas, NV 3
    • 4 beds 3 baths ∙ 3,888 Sqft ∙ Built 2012 4 beds 3 baths ∙ 3,888 Sqft ∙ Built 2012
    property image
    LEASED 04/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,795
    • $0.72
    •  
  • 8564 Silver Coast Street Las Vegas, NV 4
    • 5 beds 4 baths ∙ 4,063 Sqft ∙ Built 2007 5 beds 4 baths ∙ 4,063 Sqft ∙ Built 2007
    property image
    LEASED 07/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,200
    • $0.79
    •  
  • 9040 Monte Cristo Way Las Vegas, NV 5
    • 4 beds 3 baths ∙ 4,035 Sqft ∙ Built 2005 4 beds 3 baths ∙ 4,035 Sqft ∙ Built 2005
    property image
    LEASED 12/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,599
    • $0.89
    •  
PROPERTY LISTING DETAILS
Gwendolyn Nichole
1.702.538.4264
Keller Williams Southern Nevada
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2253450
Last Updated: 12/04/2020
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