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10530 Hope Mills Drive Las Vegas, NV 89135

4 Beds 3 Baths 3,710 sqft Built 2002

$690,000

List Price

$2,850

$2.6K - $3.1K

Rent Est.

PROPERTY INFO

January 22, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2002
  • Price/Sqft : $185.98
  • 3 Days on Market
  • MLS # : 2263316
  • Updated Date : 01/23/2021 at 03:25
CONSTRUCTION
  • Beds : 4
  • Floor Size : 3,710 sqft
  • Baths : 3 full
Listing Agent

Coldwell Banker Premier

Listing Agent's Description

Wow! Open deck door to enjoy the park view every day! Large home with 4 over-sized bedrooms upstairs - large home offices downstairs or formal living room - two-way staircase - family room and loft providing your family very cozy and comfortable living space - master bedroom connected to 2nd bedroom with direct access - brand new laminated floor - new tile on the 2nd office - shutters throughout the house - too many to list. Space for your own creation. Must check it out in person and this house is ready for you!

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 Gardens

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450kPrice in $119k497k

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

Neighborhood: The Gardens

NeighborhoodNIR Market*CityMarket2010Year20002019 Q212001400160018002000220024002600Rent in $10762685

* 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
Judy And John Goolsby Elementary School Primary Regular 807 42 10
Victoria Fertitta Middle School Middle Regular 1,472 60 NA
Spring Valley High School High Regular 1,925 79 4

Judy And John Goolsby Elementary School

  • Education Level: Primary
  • # of students: 807
  • # of teachers: 42
10
GreatSchools Rating

Victoria Fertitta Middle School

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

Spring Valley High School

  • Education Level: High
  • # of students: 1,925
  • # of teachers: 79
4
GreatSchools Rating
 

$621,000$759,000$690,000

PURCHASE PRICE

$2,565$3,135$2,850

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,850
EXPENSES Loan Payment -$2,397
Property Tax -$390
Property Insurance -$99
Property Management Fees -$119
CASH FLOW
-$154

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.

$690,000

PROJECTED PRICE

$2,850

PROJECTED RENT

0.41%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.05%
Appreciation Year (1-5) 8.3%
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

PROJECTED ANNUAL CASH FLOW

11530-$5.0k$0.0$5.0k$10k$15k$20k$25k$30k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$188,600

INVESTMENT

$188,600

Down Payment
$172,500
Rehab Estimate
$5,750
Closing Costs
$10,350

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,397

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $172,500
Loan Amount $517,500
See What Happens When You Reinvest Cash Flow

4.58

YEARS SAVED

$32,823

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,850

    LIST RENT
  • $0.77

    LIST RENT PER SQFT
  • $3,107

    COMP ESTIMATED VALUE
  • $0.84

    COMP AVG. RENT PER SQFT
Comps Range
$2,700
1$2,7002$2,8003$2,8504$3,4755$3,495
$3,495
RENT COMPS ANALYSIS
  • 10530 Hope Mills Drive Las Vegas, NV 3
    • 4 beds 3 baths ∙ 3,710 Sqft ∙ Built 2002 4 beds 3 baths ∙ 3,710 Sqft ∙ Built 2002
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,850
    • $0.77
    •  
  • 3622 Red Fir Las Vegas, NV 1
    • 5 beds 2 baths ∙ 3,723 Sqft ∙ Built 2002 5 beds 2 baths ∙ 3,723 Sqft ∙ Built 2002
    property image
    LEASED 07/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,700
    • $0.73
    •  
  • 11007 Turlington Lane Las Vegas, NV 2
    • 5 beds 2 baths ∙ 3,723 Sqft ∙ Built 2002 5 beds 2 baths ∙ 3,723 Sqft ∙ Built 2002
    property image
    LEASED 10/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,800
    • $0.75
    •  
  • 3586 Fair Bluff Street Las Vegas, NV 4
    • 5 beds 2 baths ∙ 3,723 Sqft ∙ Built 2001 5 beds 2 baths ∙ 3,723 Sqft ∙ Built 2001
    property image
    LEASED 09/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,475
    • $0.93
    •  
  • 3066 Lenoir Street Las Vegas, NV 5
    • 5 beds 3 baths ∙ 3,723 Sqft ∙ Built 2001 5 beds 3 baths ∙ 3,723 Sqft ∙ Built 2001
    property image
    LEASED 09/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,495
    • $0.94
    •  
PROPERTY LISTING DETAILS
Christine Y Fisk
1.702.606.0999
Coldwell Banker Premier
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2263316
Last Updated: 01/23/2021
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