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10024 Garamound Avenue Las Vegas, NV 89117

5 Beds 3 Baths 2,041 sqft Built 1998

$399,997

List Price

$1,740

$1.6K - $1.9K

Rent Est.

PROPERTY INFO

December 12, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1998
  • Price/Sqft : $195.98
  • 2 Days on Market
  • MLS # : 2255341
  • Updated Date : 12/12/2020 at 15:30
CONSTRUCTION
  • Beds : 5
  • Floor Size : 2,041 sqft
  • Baths : 2 full , 1 half
Listing Agent

United Realty Group

Listing Agent's Description

4 MINUTES FROM RED ROCK CASINO IN SUMMERLIN: Spacious 5 BEDROOM, 2- FULL BATHS, (1-Bedroom and 1/2 bath on 1st floor). LOCATION, LOCATION, LOCATION!!! Steps from Summerlin Master Plan Community -offers budget friendly homes within a family atmosphere. This popular area, combined with a wide variety of amenities and affordable properties. The community is filled with parks, schools, and plenty of green space. VIDEO AVAILABLE ANYTIME:https://www.facebook.com/100008838679041/videos/2564541880517076/

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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)

PRICE & RENT TRENDS

Neighborhood: Peccole Ranch

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320k340k360kPrice in $119k362k

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

Neighborhood: Peccole Ranch

NeighborhoodNIR Market*CityMarket2010Year20002019 Q211001200130014001500160017001800Rent in $10761875

* 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
D'voree And Hall Ober Elementary School Primary Regular 669 39 8
Walter Johnson Junior High School Middle Regular 1,102 50 NA
Bonanza High School High Regular 2,003 83 3

D'voree And Hall Ober Elementary School

  • Education Level: Primary
  • # of students: 669
  • # of teachers: 39
8
GreatSchools Rating

Walter Johnson Junior High School

  • Education Level: Middle
  • # of students: 1,102
  • # of teachers: 50
NA
GreatSchools Rating

Bonanza High School

  • Education Level: High
  • # of students: 2,003
  • # of teachers: 83
3
GreatSchools Rating
 

$359,997$439,997$399,997

PURCHASE PRICE

$1,566$1,914$1,740

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,740
EXPENSES Loan Payment -$1,476
Property Tax -$236
Property Insurance -$67
Property Management Fees -$119
CASH FLOW
-$157

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.

$399,997

PROJECTED PRICE

$1,740

PROJECTED RENT

0.44%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.05%
Appreciation Year (1-5) 7.9%
Maintenance Year (1-5) 8.00%
Vacancy 7.57%
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$1.4M

PROJECTED ANNUAL CASH FLOW

11530-$5.0k$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$1.2M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$111,749

INVESTMENT

$111,749

Down Payment
$99,999
Rehab Estimate
$5,750
Closing Costs
$6,000

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$1,476

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $99,999
Loan Amount $299,998
See What Happens When You Reinvest Cash Flow

4.17

YEARS SAVED

$18,220

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,740

    LIST RENT
  • $0.85

    LIST RENT PER SQFT
  • $1,750

    COMP ESTIMATED VALUE
  • $0.86

    COMP AVG. RENT PER SQFT
Comps Range
$1,695
1$1,6952$1,6953$1,7404$1,7505$1,800
$1,800
RENT COMPS ANALYSIS
  • 10024 Garamound Avenue Las Vegas, NV 3
    • 5 beds 3 baths ∙ 2,041 Sqft ∙ Built 1998 5 beds 3 baths ∙ 2,041 Sqft ∙ Built 1998
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,740
    • $0.85
    •  
  • 10283 Magnolia Tree Avenue Las Vegas, NV 1
    • 4 beds 4 baths ∙ 1,923 Sqft ∙ Built 2003 4 beds 4 baths ∙ 1,923 Sqft ∙ Built 2003
    property image
    LEASED 04/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $0.88
    •  
  • 10009 Ranch Hand Avenue Las Vegas, NV 2
    • 4 beds 3 baths ∙ 2,041 Sqft ∙ Built 1999 4 beds 3 baths ∙ 2,041 Sqft ∙ Built 1999
    property image
    LEASED 11/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $0.83
    •  
  • 2282 Red Bud Las Vegas, NV 4
    • 4 beds 3 baths ∙ 2,032 Sqft ∙ Built 2003 4 beds 3 baths ∙ 2,032 Sqft ∙ Built 2003
    property image
    LEASED 06/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.86
    •  
  • 1312 Paraiso Street Las Vegas, NV 5
    • 4 beds 3 baths ∙ 2,086 Sqft ∙ Built 2000 4 beds 3 baths ∙ 2,086 Sqft ∙ Built 2000
    property image
    LEASED 02/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $0.86
    •  
PROPERTY LISTING DETAILS
Keymoar Lopez
1.702.219.0931
United Realty Group
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2255341
Last Updated: 12/12/2020
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