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3108 Gundy Court Las Vegas, NV 89134

2 Beds 1 Baths 1,188 sqft Built 1992

$314,000

List Price

$1,430

$1.3K - $1.6K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
February 15, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1992
  • Price/Sqft : $264.31
  • 7 Days on Market
  • MLS # : 2270181
  • Updated Date : 02/15/2021 at 22:30
CONSTRUCTION
  • Beds : 2
  • Floor Size : 1,188 sqft
  • Baths : 1 full
Listing Agent

Signature Real Estate Group

Listing Agent's Description

CLEAN WESTON FLOORPLAN ON A HUGE CUL-DE-SAC LOT - OVER 1/3 ACRE BIG ENOUGH TO EXPAND THE HOME WITH FAMILY ROOM OR ANOTHER BEDROOM, ADD A BIG POOL AND EVEN PLANT AN ORCHARD - AT A PRICE THAT ALLOWS YOU TO INVEST IN THOSE THINGS. SUCH A LOT IS RARE IN SUMMERLIN. LOWEST PRICE FOR A FREE-STANDING HOME IN SUN CITY SUMMERLIN AS OF 2/15/2021! LIVING AREAS FACE NORTHEAST. LIVING & DINING ROOMS OPEN TO KITCHEN, WITH SLIDING GLASS DOOR TO COVERED REAR PATIO. PLUS A CIRCULAR PATIO FOR STAR OR MOUNTAIN GAZING. GRANITE KITCHEN COUNTERS. FRESHLY PAINTED, ALL TILE THROUGHOUT. PLANTATION SHUTTERS IN BOTH BEDROOMS. LARGE WALK-IN CLOSET IN PRIMARY BEDRM, BIG CLOSET IN SECOND & IN HALLWAY. HOME OFFICE OR HOBBY AREA OFF KITCHEN. STORAGE CABINETS IN GARAGE. NEW GARAGE DOOR IN 2020 & NEW MOTOR IN 2016.HOT & COLD LINES REPIPED IN 2019. 14-seer HVAC SYSTEM installed 2019. IN A 55 or older, PREMIER DEL WEBB RETIREMENT COMMUNITY WITH ALL THE AMENITIES OF A CRUISE SHIP (without the water).

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: Sun City Summerlin

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320kPrice in $119k328k

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

Neighborhood: Sun City Summerlin

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21100115012001250130013501400145015001550160016501700Rent in $10671706

* 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
William Lummis Elementary School Primary Regular 555 27 7
Ernest Becker Middle School Middle Regular 1,392 56 NA
Palo Verde High School High Regular 3,024 114 9

William Lummis Elementary School

  • Education Level: Primary
  • # of students: 555
  • # of teachers: 27
7
GreatSchools Rating

Ernest Becker Middle School

  • Education Level: Middle
  • # of students: 1,392
  • # of teachers: 56
NA
GreatSchools Rating

Palo Verde High School

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

$282,600$345,400$314,000

PURCHASE PRICE

$1,287$1,573$1,430

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,430
EXPENSES Loan Payment -$1,091
Property Tax -$193
Property Insurance -$50
Property Management Fees -$119
CASH FLOW
-$23

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.

$314,000

PROJECTED PRICE

$1,430

PROJECTED RENT

0.46%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.96%
Appreciation Year (1-5) 9.1%
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

PROJECTED ANNUAL CASH FLOW

11530-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k$16k

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$88,960

INVESTMENT

$88,960

Down Payment
$78,500
Rehab Estimate
$5,750
Closing Costs
$4,710

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,091

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $78,500
Loan Amount $235,500
See What Happens When You Reinvest Cash Flow

5.5

YEARS SAVED

$18,529

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,430

    LIST RENT
  • $1.2

    LIST RENT PER SQFT
  • $1,262

    COMP ESTIMATED VALUE
  • $1.06

    COMP AVG. RENT PER SQFT
Comps Range
$1,200
1$1,2002$1,3003$1,4304$1,4455$1,500
$1,500
RENT COMPS ANALYSIS
  • 3108 Gundy Court Las Vegas, NV 3
    • 2 beds 1 baths ∙ 1,188 Sqft ∙ Built 1992 2 beds 1 baths ∙ 1,188 Sqft ∙ Built 1992
    • Rent
    • Rent Per SQFT
    •  
    • $1,430
    • $1.20
    •  
  • 3204 Mystic Ridge Court #0 Las Vegas, NV 1
    • 2 beds 1 baths ∙ 1,153 Sqft ∙ Built 1998 2 beds 1 baths ∙ 1,153 Sqft ∙ Built 1998
    LEASED 04/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,200
    • $1.04
    •  
  • 2852 Bluff Point Drive Las Vegas, NV 2
    • 2 beds 1 baths ∙ 1,188 Sqft ∙ Built 1991 2 beds 1 baths ∙ 1,188 Sqft ∙ Built 1991
    LEASED 05/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,300
    • $1.09
    •  
  • 9517 Ruby Hills Drive Las Vegas, NV 4
    • 2 beds 2 baths ∙ 1,384 Sqft ∙ Built 1990 2 beds 2 baths ∙ 1,384 Sqft ∙ Built 1990
    LEASED 09/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,445
    • $1.04
    •  
  • 2717 Lotus Hill Drive Las Vegas, NV 5
    • 2 beds 2 baths ∙ 1,384 Sqft ∙ Built 1992 2 beds 2 baths ∙ 1,384 Sqft ∙ Built 1992
    LEASED 08/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $1.08
    •  
PROPERTY LISTING DETAILS
Arlene A Gawne
1.702.277.1313
Signature Real Estate Group
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2270181
Last Updated: 02/15/2021
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