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1125 Granite Falls Place North Las Vegas, NV 89084

4 Beds 4 Baths 3,481 sqft Built 2018

$653,885

List Price

$1,850

$1.7K - $2K

Rent Est.

PROPERTY INFO

January 21, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2018
  • Price/Sqft : $187.84
  • 4 Days on Market
  • MLS # : 2263342
  • Updated Date : 01/22/2021 at 00:30
CONSTRUCTION
  • Beds : 4
  • Floor Size : 3,481 sqft
  • Baths : 3 full , 1 half
Listing Agent

New Door Residential

Listing Agent's Description

Beautiful new former model 4 bedroom home in North Las Vegas. Enter into an amazing bright open floor plan with many upgrades. Living area has great indoor outdoor living with sliding patio doors to spacious backyard. Kitchen has unique pendant lighting, oversized island with breakfast seating, gas cooktop, and double gas ovens. Dining area is large with overhead lighting and overlooking backyard. Home has additional den that has wine refrigerator, perfect for lounging. Master bedroom is unique with pendant lighting and beautiful master bath with double sinks, separate bath and shower. Backyard is spacious with covered patio, built in backyard, and easy to maintain landscape!

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: North Las Vegas

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260k280kPrice in $84k296k

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

Neighborhood: North Las Vegas

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21000105011001150120012501300135014001450150015501600Rent in $9651603

* 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
Don E. Hayden Elementary School Primary Regular 702 38 6
Brian And Teri Cram Middle School Middle Regular 1,568 65 NA
Legacy High School High Regular 2,819 119 3

Don E. Hayden Elementary School

  • Education Level: Primary
  • # of students: 702
  • # of teachers: 38
6
GreatSchools Rating

Brian And Teri Cram Middle School

  • Education Level: Middle
  • # of students: 1,568
  • # of teachers: 65
NA
GreatSchools Rating

Legacy High School

  • Education Level: High
  • # of students: 2,819
  • # of teachers: 119
3
GreatSchools Rating
 

$588,497$719,274$653,885

PURCHASE PRICE

$1,665$2,035$1,850

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,850
EXPENSES Loan Payment -$2,271
Property Tax -$436
Property Insurance -$95
Property Management Fees -$119
CASH FLOW
-$1,071

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 17% of earned rent to cover both maintenance and periods of vacancy.

$653,885

PROJECTED PRICE

$1,850

PROJECTED RENT

0.28%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.75%
Appreciation Year (1-5) 11.1%
Maintenance Year (1-5) 8.00%
Vacancy 8.50%
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-$15k-$10k-$5.0k$0.0$5.0k

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$179,030

INVESTMENT

$179,030

Down Payment
$163,471
Rehab Estimate
$5,750
Closing Costs
$9,808

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 75% down payment or higher enables the proceeds from the asset to cover all costs.

$2,271

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $163,471
Loan Amount $490,414
See What Happens When You Reinvest Cash Flow

0.17

YEARS SAVED

$78

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,850

    LIST RENT
  • $0.53

    LIST RENT PER SQFT
  • $2,367

    COMP ESTIMATED VALUE
  • $0.68

    COMP AVG. RENT PER SQFT
Comps Range
$1,850
1$1,8502$2,1753$2,2954$2,2955$2,495
$2,495
RENT COMPS ANALYSIS
  • 1125 Granite Falls Place North Las Vegas, NV 1
    • 4 beds 4 baths ∙ 3,481 Sqft ∙ Built 2018 4 beds 4 baths ∙ 3,481 Sqft ∙ Built 2018
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $0.53
    •  
  • 6548 Candleglade Court North Las Vegas, NV 2
    • 5 beds 2 baths ∙ 3,173 Sqft ∙ Built 2005 5 beds 2 baths ∙ 3,173 Sqft ∙ Built 2005
    LEASED 03/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,175
    • $0.69
    •  
  • 916 Bear Gulch Court #0 North Las Vegas, NV 3
    • 5 beds 3 baths ∙ 3,177 Sqft ∙ Built 2002 5 beds 3 baths ∙ 3,177 Sqft ∙ Built 2002
    LEASED 08/09/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,295
    • $0.72
    •  
  • 2104 Merganser Court North Las Vegas, NV 4
    • 4 beds 3 baths ∙ 3,508 Sqft ∙ Built 2004 4 beds 3 baths ∙ 3,508 Sqft ∙ Built 2004
    LEASED 11/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,295
    • $0.65
    •  
  • 2316 Mistle Thrush North Las Vegas, NV 5
    • 5 beds 3 baths ∙ 3,752 Sqft ∙ Built 2003 5 beds 3 baths ∙ 3,752 Sqft ∙ Built 2003
    LEASED 04/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,495
    • $0.66
    •  
PROPERTY LISTING DETAILS
Jeffrey A Galindo
1.702.290.6458
New Door Residential
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2263342
Last Updated: 01/22/2021
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