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4745 North Grand Canyon Drive Las Vegas, NV 89129

3 Beds 1 Baths 2,600 sqft Built 2006

$775,000

List Price

$2,630

$2.4K - $2.9K

Rent Est.

PROPERTY INFO

November 21, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2006
  • Price/Sqft : $298.08
  • 3 Days on Market
  • MLS # : 2249937
  • Updated Date : 11/21/2020 at 10:28
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,600 sqft
  • Baths : 1 full
Listing Agent

Exp Realty

Listing Agent's Description

Beautiful custom home in the Northwest. Gorgeous Santa Fe style home with huge RV garage. Garage has a full bathroom. Covered patios at both front and back. Lot is nearly half an acre with No HOA. Gate is paid for privately by owners in subdivision at approximately $430 annually.

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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: Lone Mountain

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320kPrice in $119k326k

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

Neighborhood: Lone Mountain

NeighborhoodNIR Market*CityMarket2010Year20002019 Q211001150120012501300135014001450150015501600Rent in $10701616

* 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
Dean Lamar Allen Elementary School Primary Regular 660 32 6
Justice M E Leavitt Middle School Middle Regular 1,496 64 NA
Centennial High School High Regular 3,055 124 6

Dean Lamar Allen Elementary School

  • Education Level: Primary
  • # of students: 660
  • # of teachers: 32
6
GreatSchools Rating

Justice M E Leavitt Middle School

  • Education Level: Middle
  • # of students: 1,496
  • # of teachers: 64
NA
GreatSchools Rating

Centennial High School

  • Education Level: High
  • # of students: 3,055
  • # of teachers: 124
6
GreatSchools Rating
 

$697,500$852,500$775,000

PURCHASE PRICE

$2,367$2,893$2,630

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,630
EXPENSES Loan Payment -$2,859
Property Tax -$451
Property Insurance -$78
Property Management Fees -$119
CASH FLOW
-$877

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.

$775,000

PROJECTED PRICE

$2,630

PROJECTED RENT

0.34%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.96%
Appreciation Year (1-5) 10.3%
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

PROJECTED ANNUAL CASH FLOW

11530-$15k-$10k-$5.0k$0.0$5.0k$10k$15k$20k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$211,125

INVESTMENT

$211,125

Down Payment
$193,750
Rehab Estimate
$5,750
Closing Costs
$11,625

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,859

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $193,750
Loan Amount $581,250
See What Happens When You Reinvest Cash Flow

0.83

YEARS SAVED

$3,159

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,630

    LIST RENT
  • $1.01

    LIST RENT PER SQFT
  • $2,132

    COMP ESTIMATED VALUE
  • $0.82

    COMP AVG. RENT PER SQFT
Comps Range
$1,895
1$1,8952$1,9953$1,9994$2,2005$2,630
$2,630
RENT COMPS ANALYSIS
  • 4745 North Grand Canyon Drive Las Vegas, NV 5
    • 3 beds 1 baths ∙ 2,600 Sqft ∙ Built 2006 3 beds 1 baths ∙ 2,600 Sqft ∙ Built 2006
    • Rent
    • Rent Per SQFT
    •  
    • $2,630
    • $1.01
    •  
  • 4520 Harvest Night Street Las Vegas, NV 1
    • 3 beds 2 baths ∙ 2,279 Sqft ∙ Built 2003 3 beds 2 baths ∙ 2,279 Sqft ∙ Built 2003
    LEASED 06/25/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,895
    • $0.83
    •  
  • 3701 Russell Peterson Court Las Vegas, NV 2
    • 4 beds 2 baths ∙ 2,434 Sqft ∙ Built 2001 4 beds 2 baths ∙ 2,434 Sqft ∙ Built 2001
    LEASED 03/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,995
    • $0.82
    •  
  • 10417 Britton Hill Avenue Las Vegas, NV 3
    • 4 beds 3 baths ∙ 2,492 Sqft ∙ Built 2004 4 beds 3 baths ∙ 2,492 Sqft ∙ Built 2004
    LEASED 03/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,999
    • $0.80
    •  
  • 9510 Desert Crest Court #0 Las Vegas, NV 4
    • 3 beds 3 baths ∙ 2,654 Sqft ∙ Built 1992 3 beds 3 baths ∙ 2,654 Sqft ∙ Built 1992
    LEASED 10/23/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $0.83
    •  
PROPERTY LISTING DETAILS
Joe R Diraffaele
1.702.871.7736
Exp Realty
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2249937
Last Updated: 11/21/2020
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