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340 Grassy Pines Court Las Vegas, NV 89148

4 Beds 4 Baths 2,725 sqft Built 2017

$688,000

List Price

$2,720

$2.5K - $3K

Rent Est.

PROPERTY INFO

November 05, 2020 RECENTLY ADDED
FACTS
  • Built In 2017
  • Price/Sqft : $252.48
  • 4 Days on Market
  • MLS # : 2244923
  • Updated Date : 11/05/2020 at 11:30
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,725 sqft
  • Baths : 3 full , 1 half
Listing Agent

Dolly Realty

Listing Agent's Description

Another Rhodes Ranch beauty in The Gated Estate. This one story home has many upgrades. It is a pleasure to view. Everywhere you go has upgrades. Extra deep patio, 10' main level ceilings, 8' interior doors, extra long island. Architectural designed backyard with automatic shades. This is better than new, this is the owner's second home, they put various upgrades, but are too busy to stay there. Whoever buys this gem will be a lucky family!

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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: Rhodes Ranch

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320kPrice in $119k339k

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

Neighborhood: Rhodes Ranch

NeighborhoodNIR Market*CityMarket2010Year20002019 Q211001200130014001500160017001800Rent in $10551829

* 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 And Dee Snyder Elementary School Primary Unknown NA
Wilbur And Theresa Faiss Middle School Middle Regular 1,409 61 NA
Sierra Vista High School High Regular 2,396 88 4

Don And Dee Snyder Elementary School

  • Education Level: Primary
  • # of students:
  • # of teachers:
NA
GreatSchools Rating

Wilbur And Theresa Faiss Middle School

  • Education Level: Middle
  • # of students: 1,409
  • # of teachers: 61
NA
GreatSchools Rating

Sierra Vista High School

  • Education Level: High
  • # of students: 2,396
  • # of teachers: 88
4
GreatSchools Rating
 

$619,200$756,800$688,000

PURCHASE PRICE

$2,448$2,992$2,720

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,720
EXPENSES Loan Payment -$2,538
Property Tax -$458
Property Insurance -$80
Property Management Fees -$119
CASH FLOW
-$475

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.

$688,000

PROJECTED PRICE

$2,720

PROJECTED RENT

0.40%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.96%
Appreciation Year (1-5) 8.8%
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$500k$1.0M$1.5M$2.0M

PROJECTED ANNUAL CASH FLOW

11530-$10k-$5.0k$0.0$5.0k$10k$15k$20k$25k

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$188,070

INVESTMENT

$188,070

Down Payment
$172,000
Rehab Estimate
$5,750
Closing Costs
$10,320

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 60% down payment or higher enables the proceeds from the asset to cover all costs.

$2,538

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $172,000
Loan Amount $516,000
See What Happens When You Reinvest Cash Flow

2.42

YEARS SAVED

$14,526

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,720

    LIST RENT
  • $1

    LIST RENT PER SQFT
  • $2,112

    COMP ESTIMATED VALUE
  • $0.78

    COMP AVG. RENT PER SQFT
Comps Range
$1,950
1$1,9502$2,1503$2,2004$2,2005$2,720
$2,720
RENT COMPS ANALYSIS
  • 340 Grassy Pines Court Las Vegas, NV 5
    • 4 beds 4 baths ∙ 2,725 Sqft ∙ Built 2017 4 beds 4 baths ∙ 2,725 Sqft ∙ Built 2017
    • Rent
    • Rent Per SQFT
    •  
    • $2,720
    • $1.00
    •  
  • 344 Windmill Croft Drive Las Vegas, NV 1
    • 5 beds 3 baths ∙ 2,839 Sqft ∙ Built 2013 5 beds 3 baths ∙ 2,839 Sqft ∙ Built 2013
    LEASED 02/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $0.69
    •  
  • 158 Augusta Course Avenue Las Vegas, NV 2
    • 4 beds 3 baths ∙ 2,668 Sqft ∙ Built 2010 4 beds 3 baths ∙ 2,668 Sqft ∙ Built 2010
    LEASED 08/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,150
    • $0.81
    •  
  • 850 Iron Hazard Way Las Vegas, NV 3
    • 4 beds 3 baths ∙ 2,612 Sqft ∙ Built 2018 4 beds 3 baths ∙ 2,612 Sqft ∙ Built 2018
    LEASED 06/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $0.84
    •  
  • 152 Castle Course Avenue Las Vegas, NV 4
    • 4 beds 3 baths ∙ 2,886 Sqft ∙ Built 2008 4 beds 3 baths ∙ 2,886 Sqft ∙ Built 2008
    LEASED 08/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $0.76
    •  
PROPERTY LISTING DETAILS
Dolly Yau
1.866.217.5999
Dolly Realty
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2244923
Last Updated: 11/05/2020
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