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3744 Garnet Heights Avenue Las Vegas, NV 89081

2 Beds 1 Baths 1,460 sqft Built 2010

$309,000

List Price

$1,560

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

November 21, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2010
  • Price/Sqft : $211.64
  • 3 Days on Market
  • MLS # : 2249879
  • Updated Date : 11/21/2020 at 10:14
CONSTRUCTION
  • Beds : 2
  • Floor Size : 1,460 sqft
  • Baths : 1 full
Listing Agent

Keller Williams Market Place

Listing Agent's Description

*BEAUTIFUL SINGLE STORY HOME LOCATED IN WELL DESIRED AREA*GUARD GATED COMMUNITY*2 CAR GARAGE WITH TONS OF ROOM FOR PARKING AND STORAGE*UPGRADED EPOXY FLOORING & FINISHED INTERIOR*OPEN FLOOR PLAN*UPGRADED TILE FLOORING THROUGHOUT*SPACIOUS FAMILY ROOM UPON ENTRY*DINING ROOM WITH TONS OF NATURAL LIGHTING & SPACE*BREAKFAST BAR/EATING AREA, STAINLESS STEEL APPLIANCES, PANTRY, GRANITE COUNTER TOPS, VAULTED CEILINGS & RECESSED LIGHTING*AMAZING MASTER BEDROOM WITH TILE FLOORING THROUGHOUT & CEILING FANS*SPACIOUS MASTER BATH WITH DOUBLE SINKS, LARGE WALK IN CLOSET & WALK IN SHOWER*SEPARATE LAUNDRY ROOM*GORGEOUS OPEN BACKYARD WITH ROCK & GRAVEL LANDSCAPING*TONS OF COMMUNITY FACILITIES SUCH AS POOL, SPA & FITNESS CENTER*LOCATED NEAR SHOPPING & DINING*

SEE MORE

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: North Las Vegas

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260k280kPrice in $84k296k

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

Neighborhood: North Las Vegas

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
D.l. Dusty Dickens Elementary School Primary Regular 753 43 6
Clifford O. Findlay Middle School Middle Regular 1,372 59 NA
Mojave High School High Regular 2,311 103 2

D.l. Dusty Dickens Elementary School

  • Education Level: Primary
  • # of students: 753
  • # of teachers: 43
6
GreatSchools Rating

Clifford O. Findlay Middle School

  • Education Level: Middle
  • # of students: 1,372
  • # of teachers: 59
NA
GreatSchools Rating

Mojave High School

  • Education Level: High
  • # of students: 2,311
  • # of teachers: 103
2
GreatSchools Rating
 

$278,100$339,900$309,000

PURCHASE PRICE

$1,404$1,716$1,560

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,560
EXPENSES Loan Payment -$1,140
Property Tax -$258
Property Insurance -$55
Property Management Fees -$119
CASH FLOW
-$13

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.

$309,000

PROJECTED PRICE

$1,560

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$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$87,635

INVESTMENT

$87,635

Down Payment
$77,250
Rehab Estimate
$5,750
Closing Costs
$4,635

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,140

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $77,250
Loan Amount $231,750
See What Happens When You Reinvest Cash Flow

5.25

YEARS SAVED

$19,723

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,560

    LIST RENT
  • $1.07

    LIST RENT PER SQFT
  • COMP ESTIMATED VALUE
  • COMP AVG. RENT PER SQFT
Comps Range
$1,560
1$1,560
$1,560
RENT COMPS ANALYSIS
  • 3744 Garnet Heights Avenue Las Vegas, NV
    • 2 beds 1 baths ∙ 1,460 Sqft ∙ Built 2010 2 beds 1 baths ∙ 1,460 Sqft ∙ Built 2010
    • Rent
    • Rent Per SQFT
    •  
    • $1,560
    • $1.07
    •  
PROPERTY LISTING DETAILS
Richard J Brenkus
1.702.456.5959
Keller Williams Market Place
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2249879
Last Updated: 11/21/2020
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