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10545 Gilmore Avenue Las Vegas, NV 89129

3 Beds 1 Baths 1,276 sqft Built 2011

$289,900

List Price

$1,260

$1.1K - $1.4K

Rent Est.

PROPERTY INFO

January 29, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2011
  • Price/Sqft : $227.19
  • 3 Days on Market
  • MLS # : 2264896
  • Updated Date : 01/29/2021 at 23:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,276 sqft
  • Baths : 1 full
Listing Agent

Offerpad

Listing Agent's Description

This home is MOVE-IN READY with functional, open floorplan and two separate levels of living space. NEW interior paint, carpet & vinyl plank flooring. New baseboards. The upstairs features the MBR, bathroom, kitchen & living room plus balcony! The kitchen has an island w/breakfast bar, granite counters & SS appliances. The downstairs features two additional bedrooms & bathroom, plus storage under the stairs and more! Backyard w/patio area. Plumbing & roof repairs. Leased solar panels. Just minutes from the 215 as well as access to I-95 via Cheyenne.

SEE MORE

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: Lone Mountain

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320kPrice in $119k326k

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

Neighborhood: Lone Mountain

NeighborhoodNIR Market*CityMarket2010Year20002019 Q211001150120012501300135014001450150015501600Rent in $10701616

* 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
 

$260,910$318,890$289,900

PURCHASE PRICE

$1,134$1,386$1,260

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,260
EXPENSES Loan Payment -$1,007
Property Tax -$213
Property Insurance -$52
Property Management Fees -$119
CASH FLOW
-$131

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.

$289,900

PROJECTED PRICE

$1,260

PROJECTED RENT

0.43%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.96%
Appreciation Year (1-5) 10.3%
Maintenance Year (1-5) 8.00%
Vacancy 7.63%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$200k$400k$600k$800k$1.0M

PROJECTED ANNUAL CASH FLOW

11530-$4.0k-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$82,574

INVESTMENT

$82,574

Down Payment
$72,475
Rehab Estimate
$5,750
Closing Costs
$4,349

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$1,007

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $72,475
Loan Amount $217,425
See What Happens When You Reinvest Cash Flow

3.5

YEARS SAVED

$8,790

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,260

    LIST RENT
  • $0.99

    LIST RENT PER SQFT
  • $1,215

    COMP ESTIMATED VALUE
  • $0.95

    COMP AVG. RENT PER SQFT
Comps Range
$1,260
1$1,2602$1,3003$1,3954$1,4005$1,400
$1,400
RENT COMPS ANALYSIS
  • 10545 Gilmore Avenue Las Vegas, NV 1
    • 3 beds 1 baths ∙ 1,276 Sqft ∙ Built 2011 3 beds 1 baths ∙ 1,276 Sqft ∙ Built 2011
    • Rent
    • Rent Per SQFT
    •  
    • $1,260
    • $0.99
    •  
  • 10464 Mihela Avenue Las Vegas, NV 2
    • 3 beds 3 baths ∙ 1,358 Sqft ∙ Built 2004 3 beds 3 baths ∙ 1,358 Sqft ∙ Built 2004
    LEASED 08/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,300
    • $0.96
    •  
  • 3813 Bayamon Street #0 Las Vegas, NV 3
    • 3 beds 3 baths ∙ 1,476 Sqft ∙ Built 2004 3 beds 3 baths ∙ 1,476 Sqft ∙ Built 2004
    LEASED 07/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,395
    • $0.95
    •  
  • 10615 Seasonable Drive #0 Las Vegas, NV 4
    • 3 beds 3 baths ∙ 1,474 Sqft ∙ Built 2012 3 beds 3 baths ∙ 1,474 Sqft ∙ Built 2012
    LEASED 02/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,400
    • $0.95
    •  
  • 10436 Chandra Avenue Las Vegas, NV 5
    • 3 beds 3 baths ∙ 1,476 Sqft ∙ Built 2004 3 beds 3 baths ∙ 1,476 Sqft ∙ Built 2004
    LEASED 03/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,400
    • $0.95
    •  
PROPERTY LISTING DETAILS
Robert E Jones
1.480.636.9175
Offerpad
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2264896
Last Updated: 01/29/2021
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