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4716 Granite Cove Court North Las Vegas, NV 89081

3 Beds 2 Baths 1,268 sqft Built 1998

$247,000

List Price

$1,060

$954 - $1.2K

Rent Est.

PROPERTY INFO

October 31, 2020 RECENTLY ADDED
FACTS
  • Built In 1998
  • Price/Sqft : $194.79
  • 5 Days on Market
  • MLS # : 2242981
  • Updated Date : 11/01/2020 at 10:56
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,268 sqft
  • Baths : 2 full
Listing Agent

Realty One Group, Inc

Listing Agent's Description

Come check out this cozy single story home in North Las Vegas with NO HOA in a cul de sac! Light and Bright home features 3 bedroom,2 baths, 2 car garage & RV parking. This home has been freshly painted! Front yard ready to put your own touches on it & easy to maintain backyard with a shed. Walking distance to the nearby park. Come see this home today!

SEE MORE

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

Neighborhood: Cobblestone Ridge

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260k280kPrice in $84k296k

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

Neighborhood: Cobblestone Ridge

NeighborhoodNIR Market*CityMarket2010Year20002019 Q29501000105011001150120012501300135014001450150015501600Rent in $9481603

* 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
Raul Elizondo Elementary School Primary Regular 774 42 5
Clifford O. Findlay Middle School Middle Regular 1,372 59 NA
Mojave High School High Regular 2,311 103 2

Raul Elizondo Elementary School

  • Education Level: Primary
  • # of students: 774
  • # of teachers: 42
5
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
 

$222,300$271,700$247,000

PURCHASE PRICE

$954$1,166$1,060

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,060
EXPENSES Loan Payment -$911
Property Tax -$190
Property Insurance -$52
Property Management Fees -$119
CASH FLOW
-$212

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.

$247,000

PROJECTED PRICE

$1,060

PROJECTED RENT

0.43%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.75%
Appreciation Year (1-5) 11.6%
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

PROJECTED ANNUAL CASH FLOW

11530-$4.0k-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$71,205

INVESTMENT

$71,205

Down Payment
$61,750
Rehab Estimate
$5,750
Closing Costs
$3,705

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 65% down payment or higher enables the proceeds from the asset to cover all costs.

$911

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $61,750
Loan Amount $185,250
See What Happens When You Reinvest Cash Flow

1.58

YEARS SAVED

$2,843

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,060

    LIST RENT
  • $0.84

    LIST RENT PER SQFT
  • $1,062

    COMP ESTIMATED VALUE
  • $0.84

    COMP AVG. RENT PER SQFT
Comps Range
$1,060
1$1,0602$1,0953$1,2954$1,3405$1,350
$1,350
RENT COMPS ANALYSIS
  • 4716 Granite Cove Court North Las Vegas, NV 1
    • 3 beds 2 baths ∙ 1,268 Sqft ∙ Built 1998 3 beds 2 baths ∙ 1,268 Sqft ∙ Built 1998
    • Rent
    • Rent Per SQFT
    •  
    • $1,060
    • $0.84
    •  
  • 4518 Testarossa Lane North Las Vegas, NV 2
    • 3 beds 2 baths ∙ 1,359 Sqft ∙ Built 1993 3 beds 2 baths ∙ 1,359 Sqft ∙ Built 1993
    LEASED 06/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,095
    • $0.81
    •  
  • 1113 Granite Ash Avenue #- Las Vegas, NV 3
    • 3 beds 3 baths ∙ 1,584 Sqft ∙ Built 2002 3 beds 3 baths ∙ 1,584 Sqft ∙ Built 2002
    LEASED 12/23/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,295
    • $0.82
    •  
  • 1020 Granite Ash Avenue North Las Vegas, NV 4
    • 3 beds 2 baths ∙ 1,541 Sqft ∙ Built 2002 3 beds 2 baths ∙ 1,541 Sqft ∙ Built 2002
    LEASED 09/11/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,340
    • $0.87
    •  
  • 1023 Emerald Stone Avenue #none North Las Vegas, NV 5
    • 3 beds 3 baths ∙ 1,584 Sqft ∙ Built 2001 3 beds 3 baths ∙ 1,584 Sqft ∙ Built 2001
    LEASED 09/02/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,350
    • $0.85
    •  
PROPERTY LISTING DETAILS
Lizette Loya
1.702.845.7211
Realty One Group, Inc
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2242981
Last Updated: 11/01/2020
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