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10238 Jade Gardens Drive Las Vegas, NV 89135

4 Beds 4 Baths 3,880 sqft Built 2018

$1,199,000

List Price

$4,310

$4.1K - $4.6K

Rent Est.

PROPERTY INFO

January 15, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2018
  • Price/Sqft : $309.02
  • 7 Days on Market
  • MLS # : 2260907
  • Updated Date : 01/16/2021 at 18:41
CONSTRUCTION
  • Beds : 4
  • Floor Size : 3,880 sqft
  • Baths : 3 full , 1 half
Listing Agent

Vegas Dream Homes Inc

Listing Agent's Description

Beautiful Summerlin home in gated community with pool and spa! This home is a must see, it has a contemporary design with 4 bedroomsm and a loft with a door that can easily be a 5th bedroom. Courtyard with a fountain, the backyard has a pool and jacuzzi and a large deck. There is a TV and fireplace outdoors,as well as a firepit, and a balcony with city views upstairs.Close to shopping, dining, and schools.

SEE MORE

MARKET HIGHLIGHTS

  • 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: Summerlin South

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400kPrice in $119k441k

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

Neighborhood: Summerlin South

ZipNIR Market*CityMarket2010Year20002019 Q21100120013001400150016001700180019002000210022002300Rent in $10762311

* 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
 

$1,079,100$1,318,900$1,199,000

PURCHASE PRICE

$3,879$4,741$4,310

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $4,310
EXPENSES Loan Payment -$4,165
Property Tax -$639
Property Insurance -$102
Property Management Fees -$119
CASH FLOW
-$715

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.

$1,199,000

PROJECTED PRICE

$4,310

PROJECTED RENT

0.36%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.05%
Appreciation Year (1-5) 8.2%
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$2.5M$3.0M$3.5M$4.0M

PROJECTED ANNUAL CASH FLOW

11530-$10k$0.0$10k$20k$30k$40k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$500k$1.0M$1.5M$2.0M$2.5M$3.0M$3.5M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$323,485

INVESTMENT

$323,485

Down Payment
$299,750
Rehab Estimate
$5,750
Closing Costs
$17,985

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$4,165

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $299,750
Loan Amount $899,250
See What Happens When You Reinvest Cash Flow

2.67

YEARS SAVED

$25,623

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $4,310

    LIST RENT
  • $1.11

    LIST RENT PER SQFT
  • $5,018

    COMP ESTIMATED VALUE
  • $1.29

    COMP AVG. RENT PER SQFT
Comps Range
$3,200
1$3,2002$4,3103$4,7504$7,500
$7,500
RENT COMPS ANALYSIS
  • 10238 Jade Gardens Drive Las Vegas, NV 2
    • 4 beds 4 baths ∙ 3,880 Sqft ∙ Built 2018 4 beds 4 baths ∙ 3,880 Sqft ∙ Built 2018
    • Rent
    • Rent Per SQFT
    •  
    • $4,310
    • $1.11
    •  
  • 10076 Golden Bluff Avenue Las Vegas, NV 1
    • 5 beds 5 baths ∙ 4,192 Sqft ∙ Built 2005 5 beds 5 baths ∙ 4,192 Sqft ∙ Built 2005
    LEASED 11/05/19
    • Rent
    • Rent Per SQFT
    •  
    • $3,200
    • $0.76
    •  
  • 5547 Kyle Peak Court Las Vegas, NV 3
    • 4 beds 3 baths ∙ 3,997 Sqft ∙ Built 2015 4 beds 3 baths ∙ 3,997 Sqft ∙ Built 2015
    LEASED 11/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $4,750
    • $1.19
    •  
  • 10277 Green Ember Drive Las Vegas, NV 4
    • 4 beds 4 baths ∙ 3,880 Sqft ∙ Built 2018 4 beds 4 baths ∙ 3,880 Sqft ∙ Built 2018
    LEASED 02/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $7,500
    • $1.93
    •  
PROPERTY LISTING DETAILS
John J Faulis
1.702.265.1067
Vegas Dream Homes Inc
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2260907
Last Updated: 01/16/2021
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