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10408 Grassyrock Court Las Vegas, NV 89129

4 Beds 2 Baths 2,675 sqft Built 2003

$534,900

List Price

$2,120

$1.9K - $2.3K

Rent Est.

PROPERTY INFO

December 04, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2003
  • Price/Sqft : $199.96
  • 3 Days on Market
  • MLS # : 2253587
  • Updated Date : 12/04/2020 at 16:30
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,675 sqft
  • Baths : 1 full , 1 half
Listing Agent

Las Vegas Realty Center

Listing Agent's Description

Beautiful single story home in gated Lone Mountain Heights. View of Lone Mtn from front and back yard-Solar panels are owned=Low electric bills-Huge island kitchen open to family room . Granite counter tops, SS graphite color appliances, and two pantries. New sink, faucet and disposal. Plank style floor tile throughout- 2 tone paint w/ 4-1/2" baseboards-Many upgraded featured including Keyless door lock,Central vac,alarm,intercom,skylight,nest thermostats, attic storage w/pull down stairs. Speakers in all rooms incl garage and baths-Large yard with covered patio. BBQ gas stub.

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: Lone Mountain Heights

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450kPrice in $119k472k

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

Neighborhood: Lone Mountain Heights

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2110012001300140015001600170018001900200021002200Rent in $10762204

* 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
Eileen Conners Elementary School Primary Regular 797 43 8
Justice M E Leavitt Middle School Middle Regular 1,496 64 NA
Centennial High School High Regular 3,055 124 6

Eileen Conners Elementary School

  • Education Level: Primary
  • # of students: 797
  • # of teachers: 43
8
GreatSchools Rating

Justice M E Leavitt Middle School

  • Education Level: Middle
  • # of students: 1,496
  • # of teachers: 64
NA
GreatSchools Rating

Centennial High School

  • Education Level: High
  • # of students: 3,055
  • # of teachers: 124
6
GreatSchools Rating
 

$481,410$588,390$534,900

PURCHASE PRICE

$1,908$2,332$2,120

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,120
EXPENSES Loan Payment -$1,974
Property Tax -$351
Property Insurance -$79
Property Management Fees -$119
CASH FLOW
-$402

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.

$534,900

PROJECTED PRICE

$2,120

PROJECTED RENT

0.40%

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$1.4M$1.6M

PROJECTED ANNUAL CASH FLOW

11530-$10k-$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$1.4M$1.6M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$147,499

INVESTMENT

$147,499

Down Payment
$133,725
Rehab Estimate
$5,750
Closing Costs
$8,024

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,974

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $133,725
Loan Amount $401,175
See What Happens When You Reinvest Cash Flow

2.33

YEARS SAVED

$10,198

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,120

    LIST RENT
  • $0.79

    LIST RENT PER SQFT
  • $2,194

    COMP ESTIMATED VALUE
  • $0.82

    COMP AVG. RENT PER SQFT
Comps Range
$1,995
1$1,9952$1,9993$2,1204$2,2955$2,395
$2,395
RENT COMPS ANALYSIS
  • 10408 Grassyrock Court Las Vegas, NV 3
    • 4 beds 2 baths ∙ 2,675 Sqft ∙ Built 2003 4 beds 2 baths ∙ 2,675 Sqft ∙ Built 2003
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,120
    • $0.79
    •  
  • 4648 Yellow Harbor Street #0 Las Vegas, NV 1
    • 4 beds 3 baths ∙ 2,480 Sqft ∙ Built 2003 4 beds 3 baths ∙ 2,480 Sqft ∙ Built 2003
    property image
    LEASED 04/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,995
    • $0.80
    •  
  • 10417 Britton Hill Avenue Las Vegas, NV 2
    • 4 beds 3 baths ∙ 2,492 Sqft ∙ Built 2004 4 beds 3 baths ∙ 2,492 Sqft ∙ Built 2004
    property image
    LEASED 03/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,999
    • $0.80
    •  
  • 10737 Hunter Mountain Avenue Las Vegas, NV 4
    • 3 beds 3 baths ∙ 2,884 Sqft ∙ Built 2003 3 beds 3 baths ∙ 2,884 Sqft ∙ Built 2003
    property image
    LEASED 02/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,295
    • $0.80
    •  
  • 4425 Rockaway Beach Street Las Vegas, NV 5
    • 3 beds 3 baths ∙ 2,715 Sqft ∙ Built 2003 3 beds 3 baths ∙ 2,715 Sqft ∙ Built 2003
    property image
    LEASED 08/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,395
    • $0.88
    •  
PROPERTY LISTING DETAILS
Christine Coulter
1.702.480.8334
Las Vegas Realty Center
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2253587
Last Updated: 12/04/2020
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