Detailed Investment Comparison
Price & Affordability
Winner: Skye Canyon - The $150,000 average price difference is substantial. For investors, this means $37,500 less down payment required (at 25%), making Skye Canyon more accessible. This capital efficiency allows investors to potentially acquire multiple Skye Canyon properties for the cost of one Summerlin property, improving diversification.
Rental Income
Winner: Summerlin - Summerlin's established reputation and proximity to premium employment centers support $150/month higher rents on average. However, this $1,800 annual advantage is partially offset by the $504 annual HOA savings in Skye Canyon, narrowing the actual income gap to $1,296/year.
Returns & Yields
Winner: Skye Canyon - The combination of lower purchase prices and competitive rents creates superior yield metrics. Skye Canyon's 5.8% gross yield and 4.3% cap rate significantly outperform Summerlin's 4.7% and 3.5% respectively. For cash-focused investors, this difference is meaningful.
Appreciation Potential
Winner: Summerlin - Summerlin's longer track record and established reputation have delivered slightly stronger appreciation historically (18-22% over 5 years vs 15-18% for Skye Canyon). However, Skye Canyon's newer inventory and ongoing development may support catch-up growth as the community matures.
The Verdict: Which Should You Choose?
Investment Strategy Recommendations
Choose Skye Canyon If:
- • You have limited capital and need lower entry cost
- • You prioritize cash flow and cap rate metrics
- • You want multiple properties vs single high-value asset
- • You prefer newer construction with lower maintenance
- • You value low HOA fees and operational efficiency
Choose Summerlin If:
- • You have significant capital ($150K+ down payment)
- • You prioritize pure appreciation over cash flow
- • You want the most established/prestigious Las Vegas address
- • You're targeting higher-end tenants ($150K+ income)
- • You value proven long-term appreciation history
Can You Invest in Both?
Sophisticated investors often diversify between communities. Consider a portfolio approach: Skye Canyon for cash flow and efficiency, Summerlin for prestige and appreciation. This balances risk while capturing different market segments.