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10415 Garland Grove Way Las Vegas, NV 89135

4 Beds 3 Baths 2,172 sqft Built 2006

$589,000

List Price

$1,860

$1.7K - $2K

Rent Est.

PROPERTY INFO

January 14, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2006
  • Price/Sqft : $271.18
  • 4 Days on Market
  • MLS # : 2261587
  • Updated Date : 01/16/2021 at 21:11
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,172 sqft
  • Baths : 3 full
Listing Agent

Principle Realty Advisors

Listing Agent's Description

This property is gorgeous with many upgrades throughout - including newly remodeled kitchen cabinets, countertops and outdoor custom kitchen area that Chef's will love! This is the largest lot in the Mesa's with a stunning yard including Pebbletech salt water pool, 12 person spa, waterfall, firepit, fruit trees, palms, dog run, and more. The interior features crown molding, surround sound system, and stacked stone wall in the living room, custom closet upgrades, ceiling fans, solar blinds, shutter blinds, large master bathroom with stain glass and beautiful floor to ceiling tile in all bathroom showers. 220V outlet and backyard access from the garage.

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: The Mesa

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450kPrice in $119k472k

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

Neighborhood: The Mesa

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21100120013001400150016001700180019002000210022002300Rent in $10762305

* 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
Kathy L. Batterman Elementary School Primary Regular 910 47 9
Victoria Fertitta Middle School Middle Regular 1,472 60 NA
Durango High School High Regular 2,302 95 5

Kathy L. Batterman Elementary School

  • Education Level: Primary
  • # of students: 910
  • # of teachers: 47
9
GreatSchools Rating

Victoria Fertitta Middle School

  • Education Level: Middle
  • # of students: 1,472
  • # of teachers: 60
NA
GreatSchools Rating

Durango High School

  • Education Level: High
  • # of students: 2,302
  • # of teachers: 95
5
GreatSchools Rating
 

$530,100$647,900$589,000

PURCHASE PRICE

$1,674$2,046$1,860

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,860
EXPENSES Loan Payment -$2,046
Property Tax -$368
Property Insurance -$69
Property Management Fees -$119
CASH FLOW
-$742

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.

$589,000

PROJECTED PRICE

$1,860

PROJECTED RENT

0.32%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.05%
Appreciation Year (1-5) 7.7%
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$1.8M

PROJECTED ANNUAL CASH FLOW

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

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$1.8M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$161,835

INVESTMENT

$161,835

Down Payment
$147,250
Rehab Estimate
$5,750
Closing Costs
$8,835

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 70% down payment or higher enables the proceeds from the asset to cover all costs.

$2,046

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $147,250
Loan Amount $441,750
See What Happens When You Reinvest Cash Flow

0.42

YEARS SAVED

$551

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,860

    LIST RENT
  • $0.86

    LIST RENT PER SQFT
  • $1,857

    COMP ESTIMATED VALUE
  • $0.86

    COMP AVG. RENT PER SQFT
Comps Range
$1,795
1$1,7952$1,8603$1,8954$1,9505$2,030
$2,030
RENT COMPS ANALYSIS
  • 10415 Garland Grove Way Las Vegas, NV 2
    • 4 beds 3 baths ∙ 2,172 Sqft ∙ Built 2006 4 beds 3 baths ∙ 2,172 Sqft ∙ Built 2006
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,860
    • $0.86
    •  
  • 5358 Hollymead Las Vegas, NV 1
    • 4 beds 3 baths ∙ 2,317 Sqft ∙ Built 2011 4 beds 3 baths ∙ 2,317 Sqft ∙ Built 2011
    property image
    LEASED 06/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,795
    • $0.77
    •  
  • 5426 Bristol Bend Court #x Las Vegas, NV 3
    • 4 beds 3 baths ∙ 2,174 Sqft ∙ Built 2006 4 beds 3 baths ∙ 2,174 Sqft ∙ Built 2006
    property image
    LEASED 11/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,895
    • $0.87
    •  
  • 5497 Twin Feathers Way Las Vegas, NV 4
    • 4 beds 3 baths ∙ 2,173 Sqft ∙ Built 2006 4 beds 3 baths ∙ 2,173 Sqft ∙ Built 2006
    property image
    LEASED 08/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $0.90
    •  
  • 10426 Timber Star Las Vegas, NV 5
    • 4 beds 3 baths ∙ 2,317 Sqft ∙ Built 2013 4 beds 3 baths ∙ 2,317 Sqft ∙ Built 2013
    property image
    LEASED 06/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,030
    • $0.88
    •  
PROPERTY LISTING DETAILS
Nieya Anjomi
1.702.373.4022
Principle Realty Advisors
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2261587
Last Updated: 01/16/2021
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