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8994 Leaping Pad Court Las Vegas, NV 89148

3 Beds 3 Baths 1,732 sqft Built 2003

$300,000

List Price

$1,540

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

December 05, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2003
  • Price/Sqft : $173.21
  • 2 Days on Market
  • MLS # : 2253684
  • Updated Date : 12/05/2020 at 09:39
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,732 sqft
  • Baths : 2 full , 1 half
Listing Agent

Keller Williams Realty Las Vegas

Listing Agent's Description

Still looking for a home before the holidays? Check out this newly refreshed SW Las Vegas home with a highly desirable end-corner, oversized lot. The home on this pool-sized lot features laminate wood flooring throughout the first floor, brand-new carpet on the second floor, ceiling fans throughout, separate upstairs loft/living area and den/office downstairs, extended curved driveway for additional parking, water softening system, window blinds/coverings, and all appliances included.

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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: Rhodes Ranch

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320kPrice in $119k339k

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

Neighborhood: Rhodes Ranch

NeighborhoodNIR Market*CityMarket2010Year20002019 Q211001200130014001500160017001800Rent in $10551829

* 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
Wayne N. Tanaka Elementary School Primary Regular 1,029 52 5
Wilbur And Theresa Faiss Middle School Middle Regular 1,409 61 NA
Sierra Vista High School High Regular 2,396 88 4

Wayne N. Tanaka Elementary School

  • Education Level: Primary
  • # of students: 1,029
  • # of teachers: 52
5
GreatSchools Rating

Wilbur And Theresa Faiss Middle School

  • Education Level: Middle
  • # of students: 1,409
  • # of teachers: 61
NA
GreatSchools Rating

Sierra Vista High School

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

$270,000$330,000$300,000

PURCHASE PRICE

$1,386$1,694$1,540

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,540
EXPENSES Loan Payment -$1,107
Property Tax -$188
Property Insurance -$61
Property Management Fees -$119
CASH FLOW
$65

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.

$300,000

PROJECTED PRICE

$1,540

PROJECTED RENT

0.51%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.96%
Appreciation Year (1-5) 8.8%
Maintenance Year (1-5) 8.00%
Vacancy 7.63%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$200k$400k$600k$800k$1.0M

PROJECTED ANNUAL CASH FLOW

11530$0.0$5.0k$10k$15k

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$85,250

INVESTMENT

$85,250

Down Payment
$75,000
Rehab Estimate
$5,750
Closing Costs
$4,500

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,107

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $75,000
Loan Amount $225,000
See What Happens When You Reinvest Cash Flow

7.25

YEARS SAVED

$30,653

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,540

    LIST RENT
  • $0.89

    LIST RENT PER SQFT
  • $1,533

    COMP ESTIMATED VALUE
  • $0.89

    COMP AVG. RENT PER SQFT
Comps Range
$1,430
1$1,4302$1,4953$1,4954$1,5005$1,540
$1,540
RENT COMPS ANALYSIS
  • 8994 Leaping Pad Court Las Vegas, NV 5
    • 3 beds 3 baths ∙ 1,732 Sqft ∙ Built 2003 3 beds 3 baths ∙ 1,732 Sqft ∙ Built 2003
    • Rent
    • Rent Per SQFT
    •  
    • $1,540
    • $0.89
    •  
  • 8977 Flying Frog Avenue Las Vegas, NV 1
    • 3 beds 2 baths ∙ 1,546 Sqft ∙ Built 2003 3 beds 2 baths ∙ 1,546 Sqft ∙ Built 2003
    LEASED 08/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,430
    • $0.92
    •  
  • 7198 Pine Barrens Street Las Vegas, NV 2
    • 3 beds 3 baths ∙ 1,732 Sqft ∙ Built 2004 3 beds 3 baths ∙ 1,732 Sqft ∙ Built 2004
    LEASED 02/25/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,495
    • $0.86
    •  
  • 8939 Spring Peeper Avenue #0 Las Vegas, NV 3
    • 4 beds 3 baths ∙ 1,732 Sqft ∙ Built 2003 4 beds 3 baths ∙ 1,732 Sqft ∙ Built 2003
    LEASED 03/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,495
    • $0.86
    •  
  • 8982 Leaping Pad Court Las Vegas, NV 4
    • 3 beds 3 baths ∙ 1,671 Sqft ∙ Built 2003 3 beds 3 baths ∙ 1,671 Sqft ∙ Built 2003
    LEASED 08/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $0.90
    •  
PROPERTY LISTING DETAILS
Jason J Schielke
1.702.858.7598
Keller Williams Realty Las Vegas
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2253684
Last Updated: 12/05/2020
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