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5016 Granite Creek Court Las Vegas, NV 89131

3 Beds 3 Baths 2,024 sqft Built 2004

$320,000

List Price

$1,630

$1.5K - $1.8K

Rent Est.

PROPERTY INFO

November 20, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2004
  • Price/Sqft : $158.10
  • 4 Days on Market
  • MLS # : 2247568
  • Updated Date : 11/21/2020 at 10:39
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,024 sqft
  • Baths : 2 full , 1 half
Listing Agent

Select Properties Group

Listing Agent's Description

Don's miss this stunning home, pictures do it no justice! Open spaces and beautiful floors are only the beginning. Upgraded primary bath with dual vanities, new floors in living spaces and maintenance free turf in the back to name but a few of the features. Large dining room for entertaining and family room for watching the big game! Tucked away in a quiet neighborhood off the beaten path. If we are going to be stuck at home, this is the place to be!

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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: Centennial Hills

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320k340k360kPrice in $119k362k

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

Neighborhood: Centennial Hills

NeighborhoodNIR Market*CityMarket2010Year20002019 Q211001200130014001500160017001800Rent in $10761875

* 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
Kitty Mcdonough Ward Elementary School Primary Regular 830 43 9
Anthony Saville Middle School Middle Regular 1,494 58 NA
Shadow Ridge High School High Regular 2,697 105 6

Kitty Mcdonough Ward Elementary School

  • Education Level: Primary
  • # of students: 830
  • # of teachers: 43
9
GreatSchools Rating

Anthony Saville Middle School

  • Education Level: Middle
  • # of students: 1,494
  • # of teachers: 58
NA
GreatSchools Rating

Shadow Ridge High School

  • Education Level: High
  • # of students: 2,697
  • # of teachers: 105
6
GreatSchools Rating
 

$288,000$352,000$320,000

PURCHASE PRICE

$1,467$1,793$1,630

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,630
EXPENSES Loan Payment -$1,181
Property Tax -$238
Property Insurance -$66
Property Management Fees -$119
CASH FLOW
$26

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.

$320,000

PROJECTED PRICE

$1,630

PROJECTED RENT

0.51%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.05%
Appreciation Year (1-5) 10.3%
Maintenance Year (1-5) 8.00%
Vacancy 7.57%
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$90,550

INVESTMENT

$90,550

Down Payment
$80,000
Rehab Estimate
$5,750
Closing Costs
$4,800

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 45% down payment or higher enables the proceeds from the asset to cover all costs.

$1,181

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $80,000
Loan Amount $240,000
See What Happens When You Reinvest Cash Flow

6.42

YEARS SAVED

$28,163

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,630

    LIST RENT
  • $0.81

    LIST RENT PER SQFT
  • $1,569

    COMP ESTIMATED VALUE
  • $0.78

    COMP AVG. RENT PER SQFT
Comps Range
$1,450
1$1,4502$1,4953$1,4954$1,5255$1,630
$1,630
RENT COMPS ANALYSIS
  • 5016 Granite Creek Court Las Vegas, NV 5
    • 4 beds 3 baths ∙ 2,024 Sqft ∙ Built 2004 4 beds 3 baths ∙ 2,024 Sqft ∙ Built 2004
    • Rent
    • Rent Per SQFT
    •  
    • $1,630
    • $0.81
    •  
  • 4933 Lazy Day Las Vegas, NV 1
    • 3 beds 3 baths ∙ 1,855 Sqft ∙ Built 2004 3 beds 3 baths ∙ 1,855 Sqft ∙ Built 2004
    LEASED 05/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $0.78
    •  
  • 5025 Hostetler Avenue Las Vegas, NV 2
    • 3 beds 3 baths ∙ 1,913 Sqft ∙ Built 2003 3 beds 3 baths ∙ 1,913 Sqft ∙ Built 2003
    LEASED 04/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,495
    • $0.78
    •  
  • 8512 Wildheart Ranch Street Las Vegas, NV 3
    • 3 beds 3 baths ∙ 1,855 Sqft ∙ Built 2004 3 beds 3 baths ∙ 1,855 Sqft ∙ Built 2004
    LEASED 07/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,495
    • $0.81
    •  
  • 5032 Ironhorse Ranch Avenue #- Las Vegas, NV 4
    • 3 beds 3 baths ∙ 2,083 Sqft ∙ Built 2003 3 beds 3 baths ∙ 2,083 Sqft ∙ Built 2003
    LEASED 10/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,525
    • $0.73
    •  
PROPERTY LISTING DETAILS
Aaron Batson
1.702.420.0321
Select Properties Group
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2247568
Last Updated: 11/21/2020
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