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8115 Russell Creek Court 
Las Vegas, NV
89139
5 Beds 2 Baths 3,005 sqft
Built 2017
INVESTimate
$460,000
List Price
$127,650
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PROPERTY INFO
FACTS
- Built In 2017
- Price/Sqft : $153.08
- 3 Days on Market
- MLS # : 2223687
- Updated Date : 08/25/2020 at 11:29
CONSTRUCTION
- Beds : 5
- Floor Size : 3,005 sqft
- Baths : 1 full , 1 half
Listing Agent
Keller Williams Market Place I
Listing Agent's Description
Wonderful tri-level opportunity in the desirable and booming southwest area! This 5BR 3.5BA 3005 sqft home is an absolute stunner. Kitchen features, Upgraded Cabinets, Granite Counter-tops, Stainless Steel Appliances, and an Island Breakfast Counter. The ground floor features a Large Family Room and a Separate In-Law Suite with a Full Bathroom. The Mid-level floor features front-facing and back-facing Balconies, additional Family Room, separate Living Room, and Dining Room. The top-floor the main living space, featuring the Master BR, and 3 nice sized rooms, each room has a Walk-In Closet. This house is perfect for large families, very Spacious, and Move-in Ready. Come take a look today!
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: Enterprise
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: Enterprise
* 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 | $2,320 |
| EXPENSES | Loan Payment | -$1,697 |
| Property Tax | -$362 | |
| Property Insurance | -$85 | |
| HOA | -$40 | |
| Property Management Fees | -$119 | |
|
CASH FLOW
$16
|
||
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.
$460,000
PROJECTED PRICE
$2,320
PROJECTED RENT
0.50%
PROJECTED RENT / PRICE RATIO
| Expense Inflation | 2.50% |
| Rental Growth Year (1-5) | 4.05% |
| Appreciation Year (1-5) | 9.79% |
| Maintenance Year (1-5) | 8.00% |
| Vacancy | 7.57% |
| Length of Stay Years | 2 |
TOTAL CASH OUT OF POCKET
INVESTMENT
$127,650
LOAN DETAILS
$1,697
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 4.25% |
| Down Payment | $115,000 |
| Loan Amount | $345,000 |
6.08
YEARS SAVED
$37,287
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$2,320
LIST RENT -
$0.77
LIST RENT PER SQFT
-
$2,021
COMP ESTIMATED VALUE -
$0.67
COMP AVG. RENT PER SQFT
Comps Range
-
8115 Russell Creek Court Las Vegas, NV 5
- 5 beds 2 baths ∙ 3,005 Sqft ∙ Built 2017 5 beds 2 baths ∙ 3,005 Sqft ∙ Built 2017
- Rent
- Rent Per SQFT
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- $0.77
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LEASED 08/15/20- Rent
- Rent Per SQFT
- $2,175
- $0.73
PROPERTY LISTING DETAILS
1.646.643.1088
Keller Williams Market Place I
1.866.250.5610
Mynd Property Management
1453579
MLS #: 2223687
Last Updated: 08/25/2020
