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3918 Blue Gull Street North Las Vegas, NV 89032

5 Beds 5 Baths 3,224 sqft Built 2001

$420,000

List Price

$1,720

$1.5K - $1.9K

Rent Est.

PROPERTY INFO

November 20, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2001
  • Price/Sqft : $130.27
  • 3 Days on Market
  • MLS # : 2249760
  • Updated Date : 11/21/2020 at 11:24
CONSTRUCTION
  • Beds : 5
  • Floor Size : 3,224 sqft
  • Baths : 4 full , 1 half
Listing Agent

Congress Realty

Listing Agent's Description

Immaculate, completely renovated, 5 BR/4.5 BA home with over 3,224 SqFt. with a 3 car garage and oversized master bedroom. This move-in ready home has many new upgrades from a custom built wet bar to newly installed luxury vinyl wood plank floors & carpet, stone fireplace, all new bathrooms with quartz, and much more! This new HGTV kitchen features beautiful white quartz countertops, new SS appliances, new fixtures, etc. This won't last long!

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: Gleneagles

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260k280kPrice in $84k296k

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

Neighborhood: Gleneagles

NeighborhoodNIR Market*CityMarket2010Year20002019 Q29501000105011001150120012501300135014001450150015501600Rent in $9221603

* 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
Dr Claude Perkins Elementary School Primary Regular 682 40 4
Marvin M Sedway Middle School Middle Regular 1,514 52 NA
Canyon Springs High School High Magnet 2,791 114 2

Dr Claude Perkins Elementary School

  • Education Level: Primary
  • # of students: 682
  • # of teachers: 40
4
GreatSchools Rating

Marvin M Sedway Middle School

  • Education Level: Middle
  • # of students: 1,514
  • # of teachers: 52
NA
GreatSchools Rating

Canyon Springs High School

  • Education Level: High
  • # of students: 2,791
  • # of teachers: 114
2
GreatSchools Rating
 

$378,000$462,000$420,000

PURCHASE PRICE

$1,548$1,892$1,720

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,720
EXPENSES Loan Payment -$1,550
Property Tax -$301
Property Insurance -$90
Property Management Fees -$119
CASH FLOW
-$339

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.

$420,000

PROJECTED PRICE

$1,720

PROJECTED RENT

0.41%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.75%
Appreciation Year (1-5) 8.6%
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$1.4M

PROJECTED ANNUAL CASH FLOW

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

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$117,050

INVESTMENT

$117,050

Down Payment
$105,000
Rehab Estimate
$5,750
Closing Costs
$6,300

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,550

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $105,000
Loan Amount $315,000
See What Happens When You Reinvest Cash Flow

1.67

YEARS SAVED

$5,075

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,720

    LIST RENT
  • $0.53

    LIST RENT PER SQFT
  • $1,951

    COMP ESTIMATED VALUE
  • $0.61

    COMP AVG. RENT PER SQFT
Comps Range
$1,695
1$1,6952$1,7203$1,9004$1,9505$1,995
$1,995
RENT COMPS ANALYSIS
  • 3918 Blue Gull Street North Las Vegas, NV 2
    • 5 beds 5 baths ∙ 3,224 Sqft ∙ Built 2001 5 beds 5 baths ∙ 3,224 Sqft ∙ Built 2001
    • Rent
    • Rent Per SQFT
    •  
    • $1,720
    • $0.53
    •  
  • 2657 Star Manor Street North Las Vegas, NV 1
    • 5 beds 3 baths ∙ 2,906 Sqft ∙ Built 2007 5 beds 3 baths ∙ 2,906 Sqft ∙ Built 2007
    LEASED 12/09/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $0.58
    •  
  • 723 Glenwood Springs Avenue North Las Vegas, NV 3
    • 6 beds 4 baths ∙ 3,223 Sqft ∙ Built 1999 6 beds 4 baths ∙ 3,223 Sqft ∙ Built 1999
    LEASED 11/06/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,900
    • $0.59
    •  
  • 3910 Eagle Rose Street #0 North Las Vegas, NV 4
    • 5 beds 5 baths ∙ 3,224 Sqft ∙ Built 2003 5 beds 5 baths ∙ 3,224 Sqft ∙ Built 2003
    LEASED 04/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $0.60
    •  
  • 3836 Goldfield Street #0 North Las Vegas, NV 5
    • 5 beds 3 baths ∙ 3,079 Sqft ∙ Built 2006 5 beds 3 baths ∙ 3,079 Sqft ∙ Built 2006
    LEASED 06/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,995
    • $0.65
    •  
PROPERTY LISTING DETAILS
Jared A English
1.888.229.2009
Congress Realty
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2249760
Last Updated: 11/21/2020
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