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3409 Gilmore Avenue North Las Vegas, NV 89032

4 Beds 3 Baths 2,222 sqft Built 2001

INVESTimate

$322,200

List Price

$1,650

$1,485 - $1,815

Rent Est.

$359,414  ( +11.55%)   1 YR EST. FORECAST

PROPERTY INFO

FACTS
  • Built In 2001
  • Price/Sqft : $145.00
  • 10 Days on Market
  • MLS # : 2223070
  • Updated Date : 08/25/2020 at 11:17
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,222 sqft
  • Baths : 3 full
Listing Agent

Exp Realty

Listing Agent's Description

2 Story, 4 Bedroom Home For Sale. Large Bedrooms With A Loft, One Bedroom And Full bath down stairs. Huge Master With Walk In Closet. 3 Car Garage With Lots Of Room. Minutes From The Interstate. Great Home. Come Take A Look.

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MARKET HIGHLIGHTS

  • 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)
  • As the largest share, Las Vegas metro contributes to 75.1% of Nevada state's economy i.e. Gross State Product (USMayors.org, 2018)

PRICE & RENT TRENDS

Neighborhood: Seneca Falls

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260k280kPrice in $84k296k

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

Neighborhood: Seneca Falls

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21000105011001150120012501300135014001450150015501600Rent in $9651603

* 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
Lucile Bruner Elementary School Primary Regular 712 38 2
Theron L. Swainston Middle School Middle Regular 1,146 52 NA
Cheyenne High School High Regular 2,212 91 2

Lucile Bruner Elementary School

  • Education Level: Primary
  • # of students: 712
  • # of teachers: 38
2
GreatSchools Rating

Theron L. Swainston Middle School

  • Education Level: Middle
  • # of students: 1,146
  • # of teachers: 52
NA
GreatSchools Rating

Cheyenne High School

  • Education Level: High
  • # of students: 2,212
  • # of teachers: 91
2
GreatSchools Rating
 

$289,980$354,420$322,200

PURCHASE PRICE

$1,485$1,815$1,650

RENT

DOWN PAYMENT
FINANCING

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$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

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,650
EXPENSES Loan Payment -$1,189
Property Tax -$252
Property Insurance -$70
HOA -$22
Property Management Fees -$119
CASH FLOW
-$2

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 17% of earned rent to cover both maintenance and periods of vacancy.

$322,200

PROJECTED PRICE

$1,650

PROJECTED RENT

0.51%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.75%
Appreciation Year (1-5) 11.55%
Maintenance Year (1-5) 8.00%
Vacancy 8.50%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$91,133

INVESTMENT

$91,133

Down Payment
$80,550
Rehab Estimate
$5,750
Closing Costs
$4,833

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,189

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $80,550
Loan Amount $241,650
See What Happens When You Reinvest Cash Flow

5.33

YEARS SAVED

$21,320

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,650

    LIST RENT
  • $0.74

    LIST RENT PER SQFT
  • $1,644

    COMP ESTIMATED VALUE
  • $0.74

    COMP AVG. RENT PER SQFT
Comps Range
$1,550
1$1,5502$1,6503$1,6504$1,7505$1,750
$1,750
RENT COMPS ANALYSIS
  • 3409 Gilmore Avenue North Las Vegas, NV 3
    • 4 beds 3 baths ∙ 2,222 Sqft ∙ Built 2001 4 beds 3 baths ∙ 2,222 Sqft ∙ Built 2001
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.74
    •  
  • 3697 Blake Canyon Drive North Las Vegas, NV 1
    • 3 beds 3 baths ∙ 2,251 Sqft ∙ Built 2008 3 beds 3 baths ∙ 2,251 Sqft ∙ Built 2008
    property image
    LEASED 08/26/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $0.69
    •  
  • 2025 Keller Court North Las Vegas, NV 2
    • 4 beds 3 baths ∙ 2,130 Sqft ∙ Built 1994 4 beds 3 baths ∙ 2,130 Sqft ∙ Built 1994
    property image
    LEASED 07/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.77
    •  
  • 4016 Juanita May Avenue North Las Vegas, NV 4
    • 5 beds 2 baths ∙ 2,337 Sqft ∙ Built 2018 5 beds 2 baths ∙ 2,337 Sqft ∙ Built 2018
    property image
    LEASED 09/15/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.75
    •  
  • 4145 Juanita May Avenue North Las Vegas, NV 5
    • 5 beds 2 baths ∙ 2,337 Sqft ∙ Built 2018 5 beds 2 baths ∙ 2,337 Sqft ∙ Built 2018
    property image
    LEASED 12/27/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.75
    •  
PROPERTY LISTING DETAILS
Yvonne J Rojas
1.702.610.2609
Exp Realty
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2223070
Last Updated: 08/25/2020
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