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8998 Spring Peeper Avenue 
Las Vegas, NV
89148
3 Beds 3 Baths 1,671 sqft
Built 2003
INVESTimate
$285,000
List Price
$81,275
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PROPERTY INFO
FACTS
- Built In 2003
- Price/Sqft : $170.56
- 2 Days on Market
- MLS # : 2224848
- Updated Date : 08/25/2020 at 18:00
CONSTRUCTION
- Beds : 3
- Floor Size : 1,671 sqft
- Baths : 2 full , 1 half
Listing Agent
Award Realty
Listing Agent's Description
Nice 1671 sq ft 3 bed 2.5 bath cul-de-sac home in Rhodes Ranch community! Features include: Freshly painted two tone interior, Security door entry, Island kitchen with breakfast bar, custom cabinets, microwave, and ceramic tile flooring! Surround sound pre-wire in living room, upgraded carpet. Under stairs storage, Drapes, 2nd floor laundry. Low maintenance landscape with rear patio and pavers. 1 car attached garage. All appliances included! Investors only as is tenant occupied.
SEE MORE
- 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: Rhodes Ranch
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: Rhodes Ranch
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
PROJECTED ACCUMULATED WEALTH
30 YEAR PROJECTION
- Cash Flow
- Appreciation
- Principal
PROJECTED ANNUAL CASH FLOW
PROJECTED PROPERTY VALUE
30 YEAR PROJECTION
- Appreciation
- Principal
- Loan Balance
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $1,350 |
| EXPENSES | Loan Payment | -$1,052 |
| Property Tax | -$179 | |
| Property Insurance | -$60 | |
| HOA | -$38 | |
| Property Management Fees | -$119 | |
|
CASH FLOW
-$97
|
||
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.
$285,000
PROJECTED PRICE
$1,350
PROJECTED RENT
0.47%
PROJECTED RENT / PRICE RATIO
| Expense Inflation | 2.50% |
| Rental Growth Year (1-5) | 3.96% |
| Appreciation Year (1-5) | 8.79% |
| Maintenance Year (1-5) | 8.00% |
| Vacancy | 7.63% |
| Length of Stay Years | 2 |
TOTAL CASH OUT OF POCKET
INVESTMENT
$81,275
LOAN DETAILS
$1,052
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 4.25% |
| Down Payment | $71,250 |
| Loan Amount | $213,750 |
4.25
YEARS SAVED
$13,432
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$1,350
LIST RENT -
$0.81
LIST RENT PER SQFT
-
$1,470
COMP ESTIMATED VALUE -
$0.88
COMP AVG. RENT PER SQFT
Comps Range
-
8998 Spring Peeper Avenue Las Vegas, NV 1
- 3 beds 3 baths ∙ 1,671 Sqft ∙ Built 2003 3 beds 3 baths ∙ 1,671 Sqft ∙ Built 2003
- Rent
- Rent Per SQFT
- $1,350
- $0.81
-
8998 Spring Peeper Avenue #na Las Vegas, NV 2
- 3 beds 3 baths ∙ 1,671 Sqft ∙ Built 2003 3 beds 3 baths ∙ 1,671 Sqft ∙ Built 2003
LEASED 09/10/19- Rent
- Rent Per SQFT
- $1,400
- $0.84
-
8977 Flying Frog Avenue Las Vegas, NV 3
- 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 4
- 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
-
8982 Leaping Pad Court Las Vegas, NV 5
- 3 beds 3 baths ∙ 1,671 Sqft ∙ Built 2003 3 beds 3 baths ∙ 1,671 Sqft ∙ Built 2003
LEASED 08/19/20- Rent
- Rent Per SQFT
- $1,500
- $0.90
PROPERTY LISTING DETAILS
1.702.882.3995
Award Realty
1.866.250.5610
Mynd Property Management
1453579
MLS #: 2224848
Last Updated: 08/25/2020
