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1209 Granite Falls Place North Las Vegas, NV 89084

3 Beds 3 Baths 2,582 sqft Built 2018

$605,496

List Price

$1,950

$1.8K - $2.1K

Rent Est.

PROPERTY INFO

January 18, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2018
  • Price/Sqft : $234.51
  • 7 Days on Market
  • MLS # : 2262113
  • Updated Date : 01/19/2021 at 23:46
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,582 sqft
  • Baths : 2 full , 1 half
Listing Agent

New Door Residential

Listing Agent's Description

Brand new former model 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, double gas ovens, all stainless steel appliances. Dining area is large with overhead lighting and overlooking backyard. Home has additional den that has beautiful cut outs and mountain views. Master bedroom is unique with wood grain beams and beautiful master bath with custom wall, separate bath and shower. Backyard is spacious with covered patio, 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
 

$544,946$666,046$605,496

PURCHASE PRICE

$1,755$2,145$1,950

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,950
EXPENSES Loan Payment -$2,103
Property Tax -$391
Property Insurance -$77
Property Management Fees -$119
CASH FLOW
-$740

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.

$605,496

PROJECTED PRICE

$1,950

PROJECTED RENT

0.32%

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$10k

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$166,206

INVESTMENT

$166,206

Down Payment
$151,374
Rehab Estimate
$5,750
Closing Costs
$9,082

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,103

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $151,374
Loan Amount $454,122
See What Happens When You Reinvest Cash Flow

0.42

YEARS SAVED

$401

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,950

    LIST RENT
  • $0.76

    LIST RENT PER SQFT
  • $2,195

    COMP ESTIMATED VALUE
  • $0.85

    COMP AVG. RENT PER SQFT
Comps Range
$1,949
1$1,9492$1,9503$2,0004$2,1005$2,195
$2,195
RENT COMPS ANALYSIS
  • 1209 Granite Falls Place North Las Vegas, NV 2
    • 3 beds 3 baths ∙ 2,582 Sqft ∙ Built 2018 3 beds 3 baths ∙ 2,582 Sqft ∙ Built 2018
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $0.76
    •  
  • 1904 La Calera Avenue North Las Vegas, NV 1
    • 3 beds 3 baths ∙ 2,320 Sqft ∙ Built 2008 3 beds 3 baths ∙ 2,320 Sqft ∙ Built 2008
    property image
    LEASED 10/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,949
    • $0.84
    •  
  • 7144 Charter Crest Street #0 North Las Vegas, NV 3
    • 4 beds 3 baths ∙ 2,512 Sqft ∙ Built 2006 4 beds 3 baths ∙ 2,512 Sqft ∙ Built 2006
    property image
    LEASED 05/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $0.80
    •  
  • 6740 Fireball Court North Las Vegas, NV 4
    • 4 beds 2 baths ∙ 2,436 Sqft ∙ Built 2018 4 beds 2 baths ∙ 2,436 Sqft ∙ Built 2018
    property image
    LEASED 08/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $0.86
    •  
  • 6629 Dome Rock Street North Las Vegas, NV 5
    • 4 beds 3 baths ∙ 2,436 Sqft ∙ Built 2016 4 beds 3 baths ∙ 2,436 Sqft ∙ Built 2016
    property image
    LEASED 02/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,195
    • $0.90
    •  
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 #: 2262113
Last Updated: 01/19/2021
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