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988 Sandy Shale Street Las Vegas, NV 89123

3 Beds 2 Baths 1,477 sqft Built 1998

$320,000

List Price

$1,540

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

November 14, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1998
  • Price/Sqft : $216.66
  • 3 Days on Market
  • MLS # : 2247997
  • Updated Date : 11/14/2020 at 14:30
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,477 sqft
  • Baths : 2 full
Listing Agent

Elite Realty

Listing Agent's Description

WOW...MOVE-IN READY SINGLE STORY HOME!!! THIS HOME HAS AN OPEN FLOORPLAN GREAT FOR ENTERTAINING AND RELAXING!!! ISLAND KITCHEN WITH BAR!!! FRESHLY PAINTED AND BRAND NEW CARPET IN THE BEDROOMS!! UPGRADED THROUGHOUT HAVING GRANITE COUNTER TOPS, TILE FLOORING, BUILT IN WINE COOLER AND STORAGE, BUILT IN BBQ, COVERED PATIO, MATURE LANDSCAPING, FULLY FINISHED GARAGE W/ EPOXY FLOORING!!! THIS HOME WILL NOT LAST!!!

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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)

PRICE & RENT TRENDS

Neighborhood: Silverado Ranch

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300kPrice in $119k305k

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

Neighborhood: Silverado Ranch

NeighborhoodNIR Market*CityMarket2010Year20002019 Q211001150120012501300135014001450150015501600Rent in $10761606

* 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
Roger Gehring Elementary School Primary Regular 676 39 9
Charles Silvestri Junior High School Middle Regular 1,748 68 NA
Silverado High School High Regular 2,263 94 5

Roger Gehring Elementary School

  • Education Level: Primary
  • # of students: 676
  • # of teachers: 39
9
GreatSchools Rating

Charles Silvestri Junior High School

  • Education Level: Middle
  • # of students: 1,748
  • # of teachers: 68
NA
GreatSchools Rating

Silverado High School

  • Education Level: High
  • # of students: 2,263
  • # of teachers: 94
5
GreatSchools Rating
 

$288,000$352,000$320,000

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 -$1,181
Property Tax -$179
Property Insurance -$56
Property Management Fees -$119
CASH FLOW
$5

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.

$320,000

PROJECTED PRICE

$1,540

PROJECTED RENT

0.48%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.96%
Appreciation Year (1-5) 10.2%
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$1.2M

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$90,550

INVESTMENT

$90,550

Down Payment
$80,000
Rehab Estimate
$5,750
Closing Costs
$4,800

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,181

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $80,000
Loan Amount $240,000
See What Happens When You Reinvest Cash Flow

6.17

YEARS SAVED

$26,365

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
  • $1.04

    LIST RENT PER SQFT
  • $1,536

    COMP ESTIMATED VALUE
  • $1.04

    COMP AVG. RENT PER SQFT
Comps Range
$1,450
1$1,4502$1,4953$1,5404$1,5505$1,600
$1,600
RENT COMPS ANALYSIS
  • 988 Sandy Shale Street Las Vegas, NV 3
    • 3 beds 2 baths ∙ 1,477 Sqft ∙ Built 1998 3 beds 2 baths ∙ 1,477 Sqft ∙ Built 1998
    • Rent
    • Rent Per SQFT
    •  
    • $1,540
    • $1.04
    •  
  • 956 Sandy Shale Street Las Vegas, NV 1
    • 3 beds 2 baths ∙ 1,557 Sqft ∙ Built 1998 3 beds 2 baths ∙ 1,557 Sqft ∙ Built 1998
    LEASED 08/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $0.93
    •  
  • 836 Wallach Avenue Las Vegas, NV 2
    • 3 beds 2 baths ∙ 1,427 Sqft ∙ Built 1997 3 beds 2 baths ∙ 1,427 Sqft ∙ Built 1997
    LEASED 07/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,495
    • $1.05
    •  
  • 9107 Tapani Street Las Vegas, NV 4
    • 3 beds 2 baths ∙ 1,468 Sqft ∙ Built 2000 3 beds 2 baths ∙ 1,468 Sqft ∙ Built 2000
    LEASED 01/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $1.06
    •  
  • 9080 Quarrystone Way Las Vegas, NV 5
    • 3 beds 2 baths ∙ 1,427 Sqft ∙ Built 1997 3 beds 2 baths ∙ 1,427 Sqft ∙ Built 1997
    LEASED 08/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $1.12
    •  
PROPERTY LISTING DETAILS
Aaron Norris
1.702.335.2796
Elite Realty
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2247997
Last Updated: 11/14/2020
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