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10420 Garland Grove Way Las Vegas, NV 89135

5 Beds 5 Baths 2,428 sqft Built 2006

$515,000

List Price

$2,180

$2K - $2.4K

Rent Est.

PROPERTY INFO

January 18, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2006
  • Price/Sqft : $212.11
  • 7 Days on Market
  • MLS # : 2262407
  • Updated Date : 01/21/2021 at 16:29
CONSTRUCTION
  • Beds : 5
  • Floor Size : 2,428 sqft
  • Baths : 5 full
Listing Agent

Usrealty.com, Llp

Listing Agent's Description

Is a 5 Bedroom 5 bath including a Casita or Mother in Law suite attached. Located in Ladera Park-Summerlin South. This home features so many upgrades inside & out. 3 Bedrooms and 3 baths are upstairs, also upstairs a big loft, one bedroom and 1 bath downstairs plus the 1 bedroom 1 bath Casita attached with separate entry, separate dining room. Front courtyard gated with nice settings furnished, backyard garden with flowers, roses, perennial and fruits tree all with drip irrigation system and up lighting trees. All appliances, granite countertops, TVs, home theater speaker system, water softener, BBQ natural gas grill, 2 electric fireplaces, 2 car garage. Options * can be sold full furnished if desired

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
 

$463,500$566,500$515,000

PURCHASE PRICE

$1,962$2,398$2,180

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,180
EXPENSES Loan Payment -$1,789
Property Tax -$337
Property Insurance -$74
Property Management Fees -$119
CASH FLOW
-$139

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.

$515,000

PROJECTED PRICE

$2,180

PROJECTED RENT

0.42%

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-$5.0k$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$1.4M$1.6M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$142,225

INVESTMENT

$142,225

Down Payment
$128,750
Rehab Estimate
$5,750
Closing Costs
$7,725

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 50% down payment or higher enables the proceeds from the asset to cover all costs.

$1,789

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $128,750
Loan Amount $386,250
See What Happens When You Reinvest Cash Flow

4.42

YEARS SAVED

$22,323

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,180

    LIST RENT
  • $0.9

    LIST RENT PER SQFT
  • $2,167

    COMP ESTIMATED VALUE
  • $0.89

    COMP AVG. RENT PER SQFT
Comps Range
$2,100
1$2,1002$2,1803$2,2504$2,3005$2,500
$2,500
RENT COMPS ANALYSIS
  • 10420 Garland Grove Way Las Vegas, NV 2
    • 5 beds 5 baths ∙ 2,428 Sqft ∙ Built 2006 5 beds 5 baths ∙ 2,428 Sqft ∙ Built 2006
    • Rent
    • Rent Per SQFT
    •  
    • $2,180
    • $0.90
    •  
  • 10055 White Mulberry Drive Las Vegas, NV 1
    • 5 beds 4 baths ∙ 2,541 Sqft ∙ Built 2013 5 beds 4 baths ∙ 2,541 Sqft ∙ Built 2013
    LEASED 05/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $0.83
    •  
  • 5667 Oak Bend Drive Las Vegas, NV 3
    • 4 beds 4 baths ∙ 2,573 Sqft ∙ Built 2013 4 beds 4 baths ∙ 2,573 Sqft ∙ Built 2013
    LEASED 10/29/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,250
    • $0.87
    •  
  • 10147 Bonham Court Las Vegas, NV 4
    • 4 beds 4 baths ∙ 2,522 Sqft ∙ Built 2004 4 beds 4 baths ∙ 2,522 Sqft ∙ Built 2004
    LEASED 09/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $0.91
    •  
  • 5352 Bocopa Street Las Vegas, NV 5
    • 4 beds 4 baths ∙ 2,614 Sqft ∙ Built 2015 4 beds 4 baths ∙ 2,614 Sqft ∙ Built 2015
    LEASED 07/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $0.96
    •  
PROPERTY LISTING DETAILS
Mathew Berg
1.866.807.9087
Usrealty.com, Llp
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2262407
Last Updated: 01/21/2021
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