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2764 Gallant Hills Drive Las Vegas, NV 89135

3 Beds 2 Baths 1,723 sqft Built 2001

$395,000

List Price

$1,750

$1.6K - $1.9K

Rent Est.

PROPERTY INFO

January 30, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2001
  • Price/Sqft : $229.25
  • 3 Days on Market
  • MLS # : 2265051
  • Updated Date : 01/30/2021 at 03:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,723 sqft
  • Baths : 2 full
Listing Agent

Realty One Group, Inc

Listing Agent's Description

TURNKEY SINGLE STORY HOME IN THE HEART OF SUMMERLIN. VERY LIGHTLY LIVED IN HOME. HOUSE HAS MAINLY BEEN USED AS A VACATION HOME. PRIVATE BACKYARD. HOME IS WITHIN WALKING DISTANCE TO SUMMERLIN MALL AND BASEBALL FIELD. GREAT PARK ATTACHED TO THE NEIGHBORHOOD WITH TENNIS COURTS, BASKETBALL AND WALKING TRAILS.

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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: The Willows

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320k340k360k380kPrice in $119k395k

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

Neighborhood: The Willows

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21100120013001400150016001700180019002000Rent in $10762007

* 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
Palo Verde High School High Regular 3,024 114 9

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

Palo Verde High School

  • Education Level: High
  • # of students: 3,024
  • # of teachers: 114
9
GreatSchools Rating
 

$355,500$434,500$395,000

PURCHASE PRICE

$1,575$1,925$1,750

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,750
EXPENSES Loan Payment -$1,372
Property Tax -$237
Property Insurance -$61
Property Management Fees -$119
CASH FLOW
-$38

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.

$395,000

PROJECTED PRICE

$1,750

PROJECTED RENT

0.44%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.05%
Appreciation Year (1-5) 8.8%
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

PROJECTED ANNUAL CASH FLOW

11530$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$110,425

INVESTMENT

$110,425

Down Payment
$98,750
Rehab Estimate
$5,750
Closing Costs
$5,925

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,372

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $98,750
Loan Amount $296,250
See What Happens When You Reinvest Cash Flow

5.42

YEARS SAVED

$23,057

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,750

    LIST RENT
  • $1.02

    LIST RENT PER SQFT
  • $1,745

    COMP ESTIMATED VALUE
  • $1.01

    COMP AVG. RENT PER SQFT
Comps Range
$1,700
1$1,7002$1,7503$1,8504$1,8755$1,900
$1,900
RENT COMPS ANALYSIS
  • 2764 Gallant Hills Drive Las Vegas, NV 2
    • 3 beds 2 baths ∙ 1,723 Sqft ∙ Built 2001 3 beds 2 baths ∙ 1,723 Sqft ∙ Built 2001
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $1.02
    •  
  • 2754 Grande Valley Drive Las Vegas, NV 1
    • 3 beds 2 baths ∙ 1,723 Sqft ∙ Built 2001 3 beds 2 baths ∙ 1,723 Sqft ∙ Built 2001
    property image
    LEASED 07/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $0.99
    •  
  • 2786 Grande Valley Drive Las Vegas, NV 3
    • 3 beds 2 baths ∙ 1,723 Sqft ∙ Built 2001 3 beds 2 baths ∙ 1,723 Sqft ∙ Built 2001
    property image
    LEASED 11/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $1.07
    •  
  • 11136 River Hills Lane #0 Las Vegas, NV 4
    • 3 beds 2 baths ∙ 1,899 Sqft ∙ Built 2001 3 beds 2 baths ∙ 1,899 Sqft ∙ Built 2001
    property image
    LEASED 11/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,875
    • $0.99
    •  
  • 2765 Gallant Hills Drive Las Vegas, NV 5
    • 3 beds 2 baths ∙ 1,899 Sqft ∙ Built 2001 3 beds 2 baths ∙ 1,899 Sqft ∙ Built 2001
    property image
    LEASED 11/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,900
    • $1.00
    •  
PROPERTY LISTING DETAILS
Darren T Bryan
1.702.429.4294
Realty One Group, Inc
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2265051
Last Updated: 01/30/2021
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