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397 Glenridding Street Las Vegas, NV 89183

5 Beds 5 Baths 4,519 sqft Built 1999

$958,800

List Price

$3,780

$3.5K - $4K

Rent Est.

PROPERTY INFO

February 13, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1999
  • Price/Sqft : $212.17
  • 3 Days on Market
  • MLS # : 2269795
  • Updated Date : 02/13/2021 at 04:30
CONSTRUCTION
  • Beds : 5
  • Floor Size : 4,519 sqft
  • Baths : 4 full , 1 half
Listing Agent

Simply Vegas

Listing Agent's Description

Nestled in Silverado Ranch is this 4,500 sq ft beauty sitting on over half an acre! Featuring 4 bedrooms and 4 baths, this spacious home boasts tile floors and upgraded carpet throughout. Kitchen with double oven opens to large family room with a fireplace overlooking the sparkling pool/spa with waterfall. Butler's pantry with three wine refrigerators. Bedroom downstairs with full bath. Spacious master bedroom upstairs features a fireplace. Fully landscaped over half acre lot with casita with bathroom, kitchenette. Can be used for pool house or 5th bedroom, office. 3 car garage with additional space which van be work area or 4th car.

SEE MORE

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: Paradise

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280kPrice in $112k296k

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

Neighborhood: Paradise

NeighborhoodNIR Market*CityMarket2010Year20002019 Q211001150120012501300135014001450150015501600Rent in $10761606

* 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
John C. Bass Elementary School Primary Regular 885 46 6
Charles Silvestri Junior High School Middle Regular 1,748 68 NA
Liberty High School High Regular 2,496 105 5

John C. Bass Elementary School

  • Education Level: Primary
  • # of students: 885
  • # of teachers: 46
6
GreatSchools Rating

Charles Silvestri Junior High School

  • Education Level: Middle
  • # of students: 1,748
  • # of teachers: 68
NA
GreatSchools Rating

Liberty High School

  • Education Level: High
  • # of students: 2,496
  • # of teachers: 105
5
GreatSchools Rating
 

$862,920$1,054,680$958,800

PURCHASE PRICE

$3,402$4,158$3,780

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,780
EXPENSES Loan Payment -$3,330
Property Tax -$519
Property Insurance -$115
Property Management Fees -$119
CASH FLOW
-$303

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.

$958,800

PROJECTED PRICE

$3,780

PROJECTED RENT

0.39%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.96%
Appreciation Year (1-5) 9.4%
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$2.5M$3.0M$3.5M

PROJECTED ANNUAL CASH FLOW

11530-$10k$0.0$10k$20k$30k$40k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$500k$1.0M$1.5M$2.0M$2.5M$3.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$259,832

INVESTMENT

$259,832

Down Payment
$239,700
Rehab Estimate
$5,750
Closing Costs
$14,382

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$3,330

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $239,700
Loan Amount $719,100
See What Happens When You Reinvest Cash Flow

4.17

YEARS SAVED

$37,662

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,780

    LIST RENT
  • $0.84

    LIST RENT PER SQFT
  • $4,203

    COMP ESTIMATED VALUE
  • $0.93

    COMP AVG. RENT PER SQFT
Comps Range
$3,780
1$3,7802$4,500
$4,500
RENT COMPS ANALYSIS
  • 397 Glenridding Street Las Vegas, NV 1
    • 5 beds 5 baths ∙ 4,519 Sqft ∙ Built 1999 5 beds 5 baths ∙ 4,519 Sqft ∙ Built 1999
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $3,780
    • $0.84
    •  
  • 10550 Patrington Court Las Vegas, NV 2
    • 5 beds 4 baths ∙ 4,813 Sqft ∙ Built 2000 5 beds 4 baths ∙ 4,813 Sqft ∙ Built 2000
    property image
    LEASED 09/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $4,500
    • $0.93
    •  
PROPERTY LISTING DETAILS
Anthony J Romeo
1.702.353.6759
Simply Vegas
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2269795
Last Updated: 02/13/2021
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