Work with a dedicated Real Estate Advisor who will take your financial preferences and help you select and acquire properties that fit your criteria. Learn more

5124 Red Glory Drive Las Vegas, NV 89130

4 Beds 2 Baths 2,015 sqft Built 1994

$349,000

List Price

$1,780

$1.6K - $2K

Rent Est.

PROPERTY INFO

January 30, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1994
  • Price/Sqft : $173.20
  • 3 Days on Market
  • MLS # : 2264882
  • Updated Date : 01/30/2021 at 19:51
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,015 sqft
  • Baths : 2 full
Listing Agent

Exp Realty

Listing Agent's Description

Gorgeous single story 4 bedroom home with LOW HOA and RV parking!! Walk through the front door to a beautiful spacious living and dining area. Cozy family room with ceiling fan/light, gas fireplace and is open to the lavish kitchen that boasts breakfast counter and walk in pantry! Exterior sliding door from family room leads you to the backyard with low maintenance gravel landscaping. 4 bedrooms all feature ceiling lights. Charming master bedroom boasts walk in closet, patio access and master bathroom with double sinks, make up table, tub, and walk in shower. This home won't last, VIEW TODAY!

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: North Cheyenne

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300kPrice in $119k302k

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

Neighborhood: North Cheyenne

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2105011001150120012501300135014001450150015501600Rent in $10011606

* 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
Ernest May Elementary School Primary Regular 665 33 8
Theron L. Swainston Middle School Middle Regular 1,146 52 NA
Cheyenne High School High Regular 2,212 91 2

Ernest May Elementary School

  • Education Level: Primary
  • # of students: 665
  • # of teachers: 33
8
GreatSchools Rating

Theron L. Swainston Middle School

  • Education Level: Middle
  • # of students: 1,146
  • # of teachers: 52
NA
GreatSchools Rating

Cheyenne High School

  • Education Level: High
  • # of students: 2,212
  • # of teachers: 91
2
GreatSchools Rating
 

$314,100$383,900$349,000

PURCHASE PRICE

$1,602$1,958$1,780

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,780
EXPENSES Loan Payment -$1,212
Property Tax -$218
Property Insurance -$66
Property Management Fees -$119
CASH FLOW
$165

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.

$349,000

PROJECTED PRICE

$1,780

PROJECTED RENT

0.51%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.96%
Appreciation Year (1-5) 10.7%
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$200k$400k$600k$800k$1.0M$1.2M$1.4M

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$98,235

INVESTMENT

$98,235

Down Payment
$87,250
Rehab Estimate
$5,750
Closing Costs
$5,235

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 40% down payment or higher enables the proceeds from the asset to cover all costs.

$1,212

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $87,250
Loan Amount $261,750
See What Happens When You Reinvest Cash Flow

8.33

YEARS SAVED

$38,433

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,780

    LIST RENT
  • $0.88

    LIST RENT PER SQFT
  • $1,824

    COMP ESTIMATED VALUE
  • $0.9

    COMP AVG. RENT PER SQFT
Comps Range
$1,650
1$1,6502$1,6993$1,7504$1,7805$1,995
$1,995
RENT COMPS ANALYSIS
  • 5124 Red Glory Drive Las Vegas, NV 4
    • 4 beds 2 baths ∙ 2,015 Sqft ∙ Built 1994 4 beds 2 baths ∙ 2,015 Sqft ∙ Built 1994
    • Rent
    • Rent Per SQFT
    •  
    • $1,780
    • $0.88
    •  
  • 4521 Heaven Delight Las Vegas, NV 1
    • 4 beds 3 baths ∙ 1,916 Sqft ∙ Built 2012 4 beds 3 baths ∙ 1,916 Sqft ∙ Built 2012
    LEASED 06/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.86
    •  
  • 4511 Sandstone Vista Court North Las Vegas, NV 2
    • 4 beds 3 baths ∙ 2,019 Sqft ∙ Built 2003 4 beds 3 baths ∙ 2,019 Sqft ∙ Built 2003
    LEASED 10/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,699
    • $0.84
    •  
  • 4518 Steeplechase North Las Vegas, NV 3
    • 3 beds 3 baths ∙ 1,841 Sqft ∙ Built 1988 3 beds 3 baths ∙ 1,841 Sqft ∙ Built 1988
    LEASED 04/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.95
    •  
  • 4536 Vincente Lane Las Vegas, NV 5
    • 4 beds 2 baths ∙ 2,064 Sqft ∙ Built 1993 4 beds 2 baths ∙ 2,064 Sqft ∙ Built 1993
    LEASED 08/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,995
    • $0.97
    •  
PROPERTY LISTING DETAILS
Aaron Taylor
1.702.310.6683
Exp Realty
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2264882
Last Updated: 01/30/2021
BESbswy