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10233 Madison Grove Avenue Las Vegas, NV 89166

4 Beds 3 Baths 3,145 sqft Built 2009

$699,000

List Price

$2,370

$2.1K - $2.6K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
February 27, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2009
  • Price/Sqft : $222.26
  • 3 Days on Market
  • MLS # : 2272857
  • Updated Date : 02/27/2021 at 10:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 3,145 sqft
  • Baths : 2 full , 1 half
Listing Agent

New Castle Realty & Property M

Listing Agent's Description

Toll Brothers Masterpiece on beautiful oversized lot! Incredible backyard featuring solar heated pool with waterfall, gas firepit, in ground trampoline, and lush landscaping! Chef's kitchen with granite island, and breakfast bar, stainless appliances, dual ovens, cooktop, and cocoa brown cabinetry. Beautiful entertainment built-in, fireplace, wood floors, and crown molding in great room! Spacious primary suite upstairs with retreat, balcony overlooking pool, and primary bath with soaking tub, separate vanities, and huge walk-in closet. Huge rec room with built-ins upstairs and secondary bedrooms with jack and jill bath. Downstairs bedroom has large walk-in closet. Gated community with private park in master planned Providence, located right across from great community park with tennis, pickleball, basketball, and more! Great shopping, schools and more close by. Don't miss this perfect 10!

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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)

PRICE & RENT TRENDS

Neighborhood: Cliffs Edge

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320k340k360kPrice in $119k362k

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

Neighborhood: Cliffs Edge

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
Henry And Evelyn Bozarth Elementary School Primary Regular 905 40 8
Edmundo Eddie Escobedo Sr Middle School Middle Regular 1,171 47 NA
Arbor View High School High Regular 2,878 116 9

Henry And Evelyn Bozarth Elementary School

  • Education Level: Primary
  • # of students: 905
  • # of teachers: 40
8
GreatSchools Rating

Edmundo Eddie Escobedo Sr Middle School

  • Education Level: Middle
  • # of students: 1,171
  • # of teachers: 47
NA
GreatSchools Rating

Arbor View High School

  • Education Level: High
  • # of students: 2,878
  • # of teachers: 116
9
GreatSchools Rating
 

$629,100$768,900$699,000

PURCHASE PRICE

$2,133$2,607$2,370

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,370
EXPENSES Loan Payment -$2,428
Property Tax -$456
Property Insurance -$88
Property Management Fees -$119
CASH FLOW
-$721

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.

$699,000

PROJECTED PRICE

$2,370

PROJECTED RENT

0.34%

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$500k$1.0M$1.5M$2.0M

PROJECTED ANNUAL CASH FLOW

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

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$190,985

INVESTMENT

$190,985

Down Payment
$174,750
Rehab Estimate
$5,750
Closing Costs
$10,485

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 65% down payment or higher enables the proceeds from the asset to cover all costs.

$2,428

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $174,750
Loan Amount $524,250
See What Happens When You Reinvest Cash Flow

1.08

YEARS SAVED

$2,942

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,370

    LIST RENT
  • $0.75

    LIST RENT PER SQFT
  • $2,492

    COMP ESTIMATED VALUE
  • $0.79

    COMP AVG. RENT PER SQFT
Comps Range
$2,300
1$2,3002$2,3703$2,4004$2,4995$2,595
$2,595
RENT COMPS ANALYSIS
  • 10233 Madison Grove Avenue Las Vegas, NV 2
    • 4 beds 3 baths ∙ 3,145 Sqft ∙ Built 2009 4 beds 3 baths ∙ 3,145 Sqft ∙ Built 2009
    • Rent
    • Rent Per SQFT
    •  
    • $2,370
    • $0.75
    •  
  • 9408 Silent Oak Court #0 Las Vegas, NV 1
    • 4 beds 3 baths ∙ 2,948 Sqft ∙ Built 2005 4 beds 3 baths ∙ 2,948 Sqft ∙ Built 2005
    LEASED 11/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $0.78
    •  
  • 7721 Native Winds Court Las Vegas, NV 3
    • 5 beds 3 baths ∙ 3,087 Sqft ∙ Built 2005 5 beds 3 baths ∙ 3,087 Sqft ∙ Built 2005
    LEASED 03/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,400
    • $0.78
    •  
  • 10145 Rockridge Peak Avenue #0 Las Vegas, NV 4
    • 5 beds 3 baths ∙ 3,126 Sqft ∙ Built 2009 5 beds 3 baths ∙ 3,126 Sqft ∙ Built 2009
    LEASED 11/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,499
    • $0.80
    •  
  • 8139 Pinetop Crest Street Las Vegas, NV 5
    • 4 beds 4 baths ∙ 3,195 Sqft ∙ Built 2019 4 beds 4 baths ∙ 3,195 Sqft ∙ Built 2019
    LEASED 03/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,595
    • $0.81
    •  
PROPERTY LISTING DETAILS
Melanie J Ewell
1.702.806.1983
New Castle Realty & Property M
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2272857
Last Updated: 02/27/2021
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