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10251 Garden State Drive Las Vegas, NV 89135

3 Beds 3 Baths 1,878 sqft Built 2003

$369,000

List Price

$1,790

$1.6K - $2K

Rent Est.

PROPERTY INFO

December 24, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2003
  • Price/Sqft : $196.49
  • 4 Days on Market
  • MLS # : 2257453
  • Updated Date : 12/24/2020 at 11:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,878 sqft
  • Baths : 2 full , 1 half
Listing Agent

Bhhs Nevada Properties

Listing Agent's Description

Great 3 BR in ASBURY PARK community of SUMMERLIN! Beautiful curb appeal showcases front of home w attached garage to the rear. Cozy covered front porch invites you directly into Formal Living/Dining Room combo and spacious Kitchen beyond featuring lots of cabinets/counter space, center island breakfast bar, gas cooktop w built in oven, pantry, eat-in nook & new flooring. Slider from the Kitchen leads to the long driveway/courtyard area and garage. Adjacent to the Kitchen is the Family Room w fireplace and another slider taking you to the backyard, as well as the Laundry Room and inside entrance to the garage. Upstairs you will find the light & bright Master Bedroom w Master Bath featuring separate sinks/vanities, separate jetted tub w tile surround and custom tile shower, as well as walk-in closet, in addition to the two secondary bedrooms and hall slider to balcony overlooking the driveway with a view of the mountains. Backyard has patio and untouched space awaiting your creativity.

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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: Summerlin Centre

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320k340k360kPrice in $119k380k

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

Neighborhood: Summerlin Centre

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21100120013001400150016001700180019002000Rent in $10762040

* 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
Sig Rogich Middle School Middle Regular 1,845 70 NA
Palo Verde High School High Regular 3,024 114 9

D'voree And Hall Ober Elementary School

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

Sig Rogich Middle School

  • Education Level: Middle
  • # of students: 1,845
  • # of teachers: 70
NA
GreatSchools Rating

Palo Verde High School

  • Education Level: High
  • # of students: 3,024
  • # of teachers: 114
9
GreatSchools Rating
 

$332,100$405,900$369,000

PURCHASE PRICE

$1,611$1,969$1,790

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,790
EXPENSES Loan Payment -$1,361
Property Tax -$231
Property Insurance -$64
Property Management Fees -$119
CASH FLOW
$15

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.

$369,000

PROJECTED PRICE

$1,790

PROJECTED RENT

0.49%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.05%
Appreciation Year (1-5) 8.0%
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

PROJECTED ANNUAL CASH FLOW

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

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$103,535

INVESTMENT

$103,535

Down Payment
$92,250
Rehab Estimate
$5,750
Closing Costs
$5,535

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 45% down payment or higher enables the proceeds from the asset to cover all costs.

$1,361

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $92,250
Loan Amount $276,750
See What Happens When You Reinvest Cash Flow

6.33

YEARS SAVED

$31,623

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,790

    LIST RENT
  • $0.95

    LIST RENT PER SQFT
  • $1,784

    COMP ESTIMATED VALUE
  • $0.95

    COMP AVG. RENT PER SQFT
Comps Range
$1,595
1$1,5952$1,7003$1,7504$1,7875$1,790
$1,790
RENT COMPS ANALYSIS
  • 10251 Garden State Drive Las Vegas, NV 5
    • 3 beds 3 baths ∙ 1,878 Sqft ∙ Built 2003 3 beds 3 baths ∙ 1,878 Sqft ∙ Built 2003
    • Rent
    • Rent Per SQFT
    •  
    • $1,790
    • $0.95
    •  
  • 2328 Summer Home Street Las Vegas, NV 1
    • 3 beds 3 baths ∙ 1,717 Sqft ∙ Built 2004 3 beds 3 baths ∙ 1,717 Sqft ∙ Built 2004
    LEASED 06/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $0.93
    •  
  • 10250 Garden State Drive Las Vegas, NV 2
    • 3 beds 3 baths ∙ 1,717 Sqft ∙ Built 2003 3 beds 3 baths ∙ 1,717 Sqft ∙ Built 2003
    LEASED 11/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $0.99
    •  
  • 10292 Jersey Shore Avenue Las Vegas, NV 3
    • 3 beds 3 baths ∙ 1,878 Sqft ∙ Built 2004 3 beds 3 baths ∙ 1,878 Sqft ∙ Built 2004
    LEASED 10/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.93
    •  
  • 10244 Jersey Shore Avenue Las Vegas, NV 4
    • 3 beds 3 baths ∙ 1,878 Sqft ∙ Built 2004 3 beds 3 baths ∙ 1,878 Sqft ∙ Built 2004
    LEASED 08/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,787
    • $0.95
    •  
PROPERTY LISTING DETAILS
Avichai Dan Goor
1.702.497.3815
Bhhs Nevada Properties
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2257453
Last Updated: 12/24/2020
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