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2872 Glass Vine Court Las Vegas, NV 89117

4 Beds 3 Baths 1,933 sqft Built 2014

$369,000

List Price

$1,760

$1.6K - $1.9K

Rent Est.

PROPERTY INFO

January 06, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2014
  • Price/Sqft : $190.89
  • 6 Days on Market
  • MLS # : 2259446
  • Updated Date : 01/06/2021 at 18:41
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,933 sqft
  • Baths : 2 full , 1 half
Listing Agent

O'harmony Realty Llc

Listing Agent's Description

Beautiful 4 bed, 3 bath home located near Summerlin. Stainless steel appliances, custom cabinets, all bedrooms upstairs, window coverings, and 2 car garage with remotes.

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 Lakes-Country Club

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320k340k360kPrice in $119k368k

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

Neighborhood: The Lakes-Country Club

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21200140016001800200022002400260028003000Rent in $10763020

* 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
Herbert A. Derfelt Elementary School Primary Regular 699 34 6
Lawrence Junior High School Middle Regular 1,421 61 NA
Spring Valley High School High Regular 1,925 79 4

Herbert A. Derfelt Elementary School

  • Education Level: Primary
  • # of students: 699
  • # of teachers: 34
6
GreatSchools Rating

Lawrence Junior High School

  • Education Level: Middle
  • # of students: 1,421
  • # of teachers: 61
NA
GreatSchools Rating

Spring Valley High School

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

$332,100$405,900$369,000

PURCHASE PRICE

$1,584$1,936$1,760

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,760
EXPENSES Loan Payment -$1,282
Property Tax -$261
Property Insurance -$65
Property Management Fees -$119
CASH FLOW
$34

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.

$369,000

PROJECTED PRICE

$1,760

PROJECTED RENT

0.48%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.96%
Appreciation Year (1-5) 9.5%
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$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$103,535

INVESTMENT

$103,535

Down Payment
$92,250
Rehab Estimate
$5,750
Closing Costs
$5,535

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 45% down payment or higher enables the proceeds from the asset to cover all costs.

$1,282

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $92,250
Loan Amount $276,750
See What Happens When You Reinvest Cash Flow

6.25

YEARS SAVED

$26,581

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,760

    LIST RENT
  • $0.91

    LIST RENT PER SQFT
  • $1,778

    COMP ESTIMATED VALUE
  • $0.92

    COMP AVG. RENT PER SQFT
Comps Range
$1,650
1$1,6502$1,6503$1,6994$1,7605$1,850
$1,850
RENT COMPS ANALYSIS
  • 2872 Glass Vine Court Las Vegas, NV 4
    • 4 beds 3 baths ∙ 1,933 Sqft ∙ Built 2014 4 beds 3 baths ∙ 1,933 Sqft ∙ Built 2014
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,760
    • $0.91
    •  
  • 8443 Blacktip Avenue Las Vegas, NV 1
    • 3 beds 3 baths ∙ 1,841 Sqft ∙ Built 2014 3 beds 3 baths ∙ 1,841 Sqft ∙ Built 2014
    property image
    LEASED 04/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.90
    •  
  • 8453 Spirit Vale Avenue Las Vegas, NV 2
    • 3 beds 3 baths ∙ 1,748 Sqft ∙ Built 2014 3 beds 3 baths ∙ 1,748 Sqft ∙ Built 2014
    property image
    LEASED 09/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.94
    •  
  • 8437 Blacktip Avenue Las Vegas, NV 3
    • 4 beds 3 baths ∙ 1,933 Sqft ∙ Built 2014 4 beds 3 baths ∙ 1,933 Sqft ∙ Built 2014
    property image
    LEASED 05/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,699
    • $0.88
    •  
  • 2853 Glass Vine Court Las Vegas, NV 5
    • 4 beds 2 baths ∙ 1,933 Sqft ∙ Built 2014 4 beds 2 baths ∙ 1,933 Sqft ∙ Built 2014
    property image
    LEASED 09/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $0.96
    •  
PROPERTY LISTING DETAILS
Karen C Xiao
1.702.588.2216
O'harmony Realty Llc
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2259446
Last Updated: 01/06/2021
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