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3116 Gnatcatcher Avenue North Las Vegas, NV 89084

3 Beds 3 Baths 2,711 sqft Built 2004

$450,000

List Price

$2,020

$1.8K - $2.2K

Rent Est.

PROPERTY INFO

December 04, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2004
  • Price/Sqft : $165.99
  • 3 Days on Market
  • MLS # : 2253467
  • Updated Date : 12/04/2020 at 15:30
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,711 sqft
  • Baths : 3 full
Listing Agent

Platinum R.e. Professionals

Listing Agent's Description

Gorgeous single story home in a gated community, 3 car garage, pool & spa, backs up to walking path! Covered entrance, open concept with formal dining area, bonus family room and office space. Large kitchen island, tile flooring, granite countertops, and tons of cabinet space. Large master, walk in closet, dual vanities, separate tub and shower. Covered patio in rear, pebble tech pool and spa with water features. Separate laundry room. Easy access to the 215 freeway, Aliante casino, dining and shopping.

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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)

PRICE & RENT TRENDS

Neighborhood: Aliante

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320k340k360kPrice in $110k362k

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

Neighborhood: Aliante

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21000110012001300140015001600170018001900Rent in $9671963

* 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
Theron And Naomi Goynes Elementary School Primary Regular 896 41 7
Brian And Teri Cram Middle School Middle Regular 1,568 65 NA
Legacy High School High Regular 2,819 119 3

Theron And Naomi Goynes Elementary School

  • Education Level: Primary
  • # of students: 896
  • # of teachers: 41
7
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
 

$405,000$495,000$450,000

PURCHASE PRICE

$1,818$2,222$2,020

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,020
EXPENSES Loan Payment -$1,660
Property Tax -$379
Property Insurance -$80
Property Management Fees -$119
CASH FLOW
-$218

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.

$450,000

PROJECTED PRICE

$2,020

PROJECTED RENT

0.45%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.05%
Appreciation Year (1-5) 9.2%
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$1.6M

PROJECTED ANNUAL CASH FLOW

11530-$5.0k$0.0$5.0k$10k$15k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$125,000

INVESTMENT

$125,000

Down Payment
$112,500
Rehab Estimate
$5,750
Closing Costs
$6,750

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$1,660

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $112,500
Loan Amount $337,500
See What Happens When You Reinvest Cash Flow

3.5

YEARS SAVED

$15,946

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,020

    LIST RENT
  • $0.75

    LIST RENT PER SQFT
  • $2,176

    COMP ESTIMATED VALUE
  • $0.8

    COMP AVG. RENT PER SQFT
Comps Range
$1,895
1$1,8952$2,0003$2,0204$2,1505$2,300
$2,300
RENT COMPS ANALYSIS
  • 3116 Gnatcatcher Avenue North Las Vegas, NV 3
    • 3 beds 3 baths ∙ 2,711 Sqft ∙ Built 2004 3 beds 3 baths ∙ 2,711 Sqft ∙ Built 2004
    • Rent
    • Rent Per SQFT
    •  
    • $2,020
    • $0.75
    •  
  • 6704 Tumbler North Las Vegas, NV 1
    • 4 beds 3 baths ∙ 2,576 Sqft ∙ Built 2003 4 beds 3 baths ∙ 2,576 Sqft ∙ Built 2003
    LEASED 06/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,895
    • $0.74
    •  
  • 2816 Tanagrine Drive North Las Vegas, NV 2
    • 4 beds 3 baths ∙ 2,562 Sqft ∙ Built 2005 4 beds 3 baths ∙ 2,562 Sqft ∙ Built 2005
    LEASED 08/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $0.78
    •  
  • 6528 Button Quail Street North Las Vegas, NV 4
    • 4 beds 3 baths ∙ 2,560 Sqft ∙ Built 2005 4 beds 3 baths ∙ 2,560 Sqft ∙ Built 2005
    LEASED 08/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,150
    • $0.84
    •  
  • 2812 Tropicbird Drive North Las Vegas, NV 5
    • 3 beds 2 baths ∙ 2,714 Sqft ∙ Built 2004 3 beds 2 baths ∙ 2,714 Sqft ∙ Built 2004
    LEASED 10/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $0.85
    •  
PROPERTY LISTING DETAILS
Sasha Terry
1.702.306.0776
Platinum R.e. Professionals
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2253467
Last Updated: 12/04/2020
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