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3574 Gloucester Gate Street Las Vegas, NV 89122

4 Beds 2 Baths 2,122 sqft Built 2005

$302,000

List Price

$1,510

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
February 24, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2005
  • Price/Sqft : $142.32
  • 6 Days on Market
  • MLS # : 2272283
  • Updated Date : 02/24/2021 at 02:30
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,122 sqft
  • Baths : 2 full
Listing Agent

Desert Vision Realty

Listing Agent's Description

Two Story home nice location and ready to Sell and move in Features 4bdrms /3bath/2car garage, open floor plan spacious kitchen, ceramic tile and carpet nice-size bedrooms, Master with walking closets.

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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

Zip Code: 89122

ZipNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260k280kPrice in $84k296k

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

Zip Code: 89122

ZipNIR 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
Cynthia Cunningham Elementary School Primary Regular 801 38 4
Kathleen And Tim Harney Middle School Middle Regular 1,845 71 NA
Chaparral High School High Regular 2,270 87 3

Cynthia Cunningham Elementary School

  • Education Level: Primary
  • # of students: 801
  • # of teachers: 38
4
GreatSchools Rating

Kathleen And Tim Harney Middle School

  • Education Level: Middle
  • # of students: 1,845
  • # of teachers: 71
NA
GreatSchools Rating

Chaparral High School

  • Education Level: High
  • # of students: 2,270
  • # of teachers: 87
3
GreatSchools Rating
 

$271,800$332,200$302,000

PURCHASE PRICE

$1,359$1,661$1,510

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,510
EXPENSES Loan Payment -$1,049
Property Tax -$216
Property Insurance -$68
Property Management Fees -$119
CASH FLOW
$58

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.

$302,000

PROJECTED PRICE

$1,510

PROJECTED RENT

0.50%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.75%
Appreciation Year (1-5) 11.1%
Maintenance Year (1-5) 8.00%
Vacancy 8.50%
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$85,780

INVESTMENT

$85,780

Down Payment
$75,500
Rehab Estimate
$5,750
Closing Costs
$4,530

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,049

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $75,500
Loan Amount $226,500
See What Happens When You Reinvest Cash Flow

6.42

YEARS SAVED

$21,781

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,510

    LIST RENT
  • $0.71

    LIST RENT PER SQFT
  • $1,570

    COMP ESTIMATED VALUE
  • $0.74

    COMP AVG. RENT PER SQFT
Comps Range
$1,495
1$1,4952$1,5103$1,5254$1,5955$1,695
$1,695
RENT COMPS ANALYSIS
  • 3574 Gloucester Gate Street Las Vegas, NV 2
    • 4 beds 2 baths ∙ 2,122 Sqft ∙ Built 2005 4 beds 2 baths ∙ 2,122 Sqft ∙ Built 2005
    • Rent
    • Rent Per SQFT
    •  
    • $1,510
    • $0.71
    •  
  • 3912 Stormy Weather Lane Las Vegas, NV 1
    • 3 beds 3 baths ∙ 1,954 Sqft ∙ Built 2005 3 beds 3 baths ∙ 1,954 Sqft ∙ Built 2005
    LEASED 09/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,495
    • $0.77
    •  
  • 6387 Hamilton Grove Avenue Las Vegas, NV 3
    • 4 beds 2 baths ∙ 2,122 Sqft ∙ Built 2005 4 beds 2 baths ∙ 2,122 Sqft ∙ Built 2005
    LEASED 05/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,525
    • $0.72
    •  
  • 3661 Winter Wren Las Vegas, NV 4
    • 3 beds 2 baths ∙ 2,240 Sqft ∙ Built 2005 3 beds 2 baths ∙ 2,240 Sqft ∙ Built 2005
    LEASED 06/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $0.71
    •  
  • 3602 Winter Wren Street Las Vegas, NV 5
    • 3 beds 2 baths ∙ 2,240 Sqft ∙ Built 2005 3 beds 2 baths ∙ 2,240 Sqft ∙ Built 2005
    LEASED 11/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $0.76
    •  
PROPERTY LISTING DETAILS
Juan Leon
1.702.524.9853
Desert Vision Realty
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2272283
Last Updated: 02/24/2021
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