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10026 Cranbrook Falls Court Las Vegas, NV 89148

5 Beds 2 Baths 2,614 sqft Built 2005

$575,000

List Price

$2,070

$1.9K - $2.3K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 14, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2005
  • Price/Sqft : $219.97
  • 2 Days on Market
  • MLS # : 2278099
  • Updated Date : 03/14/2021 at 02:25
CONSTRUCTION
  • Beds : 5
  • Floor Size : 2,614 sqft
  • Baths : 2 full
Listing Agent

Centurion Management Services

Listing Agent's Description

Must SEE. Beautiful & immaculate 2614 sq ft (5) bedrooms, (3) baths, 2-story home, with 2 car garage, RV parking, with the capacity to park 6 cars on the front driveway. Home is equipped with walnut kitchen cabinets, walk-in & Butler's pantry. Two fireplaces (family room & master bedroom). Upstairs laundry room with sink and stackable washer/dryer (included). Upstairs master bedroom is equipped with a three sided fireplace, jetted jacuzzi tub, double sink, walk-in closet and balcony off master bedroom. Home offers a Smart panel for CAT 5 surround sound for entire house and patio. Built in surround sound speakers in family room only (included). Home comes with an outside double counter BB island with outdoor grill, outdoor shed for storage, water softener, Central Vacuum system, irrigation for front and rear yard, and custom cabinets inside garage. Excellent condition, perfect for indoor and outdoor entertainment. Walking distance to highly rated Bishop Gorman High School.

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: Southern Terrace

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320kPrice in $119k329k

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

Neighborhood: Southern Terrace

NeighborhoodNIR Market*CityMarket2010Year20002019 Q210001100120013001400150016001700Rent in $9691735

* 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
Shelley Berkley Elementary School Primary Unknown NA
Wilbur And Theresa Faiss Middle School Middle Regular 1,409 61 NA
Sierra Vista High School High Regular 2,396 88 4

Shelley Berkley Elementary School

  • Education Level: Primary
  • # of students:
  • # of teachers:
NA
GreatSchools Rating

Wilbur And Theresa Faiss Middle School

  • Education Level: Middle
  • # of students: 1,409
  • # of teachers: 61
NA
GreatSchools Rating

Sierra Vista High School

  • Education Level: High
  • # of students: 2,396
  • # of teachers: 88
4
GreatSchools Rating
 

$517,500$632,500$575,000

PURCHASE PRICE

$1,863$2,277$2,070

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,070
EXPENSES Loan Payment -$1,997
Property Tax -$284
Property Insurance -$78
Property Management Fees -$119
CASH FLOW
-$408

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.

$575,000

PROJECTED PRICE

$2,070

PROJECTED RENT

0.36%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.96%
Appreciation Year (1-5) 10.4%
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$500k$1.0M$1.5M$2.0M

PROJECTED ANNUAL CASH FLOW

11530-$10k-$5.0k$0.0$5.0k$10k$15k$20k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$500k$1.0M$1.5M$2.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$158,125

INVESTMENT

$158,125

Down Payment
$143,750
Rehab Estimate
$5,750
Closing Costs
$8,625

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 60% down payment or higher enables the proceeds from the asset to cover all costs.

$1,997

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $143,750
Loan Amount $431,250
See What Happens When You Reinvest Cash Flow

2.25

YEARS SAVED

$9,040

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,070

    LIST RENT
  • $0.79

    LIST RENT PER SQFT
  • $2,019

    COMP ESTIMATED VALUE
  • $0.77

    COMP AVG. RENT PER SQFT
Comps Range
$1,750
1$1,7502$1,9503$2,0004$2,0705$2,100
$2,100
RENT COMPS ANALYSIS
  • 10026 Cranbrook Falls Court Las Vegas, NV 4
    • 5 beds 2 baths ∙ 2,614 Sqft ∙ Built 2005 5 beds 2 baths ∙ 2,614 Sqft ∙ Built 2005
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,070
    • $0.79
    •  
  • 9747 Waukegan Avenue Las Vegas, NV 1
    • 4 beds 3 baths ∙ 2,415 Sqft ∙ Built 2005 4 beds 3 baths ∙ 2,415 Sqft ∙ Built 2005
    property image
    LEASED 03/11/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.72
    •  
  • 9780 Waukegan Avenue Las Vegas, NV 2
    • 4 beds 2 baths ∙ 2,415 Sqft ∙ Built 2005 4 beds 2 baths ∙ 2,415 Sqft ∙ Built 2005
    property image
    LEASED 10/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $0.81
    •  
  • 6072 Doroca Street Las Vegas, NV 3
    • 4 beds 2 baths ∙ 2,775 Sqft ∙ Built 2007 4 beds 2 baths ∙ 2,775 Sqft ∙ Built 2007
    property image
    LEASED 01/05/21
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $0.72
    •  
  • 9676 Grouse Grove Avenue Las Vegas, NV 5
    • 4 beds 3 baths ∙ 2,494 Sqft ∙ Built 2003 4 beds 3 baths ∙ 2,494 Sqft ∙ Built 2003
    property image
    LEASED 12/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $0.84
    •  
PROPERTY LISTING DETAILS
Alfonso R Reyes
1.310.293.4467
Centurion Management Services
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2278099
Last Updated: 03/14/2021
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