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5216 Garcia Court Las Vegas, NV 89130

3 Beds 2 Baths 1,586 sqft Built 1993

INVESTimate

$330,000

List Price

$1,470

$1,323 - $1,617

Rent Est.

$365,277  ( +10.69%)   1 YR EST. FORECAST

PROPERTY INFO

FACTS
  • Built In 1993
  • Price/Sqft : $208.07
  • 13 Days on Market
  • MLS # : 2222720
  • Updated Date : 08/25/2020 at 14:36
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,586 sqft
  • Baths : 2 full
Listing Agent

Century 21 Americana

Listing Agent's Description

Charming single story home nestled in a quiet cul de sac in the sought after expanding Northwest. 3 bedroom, 2 bath open floor plan, upgrades throughout from flooring, granite countertops to a beautiful workshop in the garage! The extended back yard features 1 Apricot, 3 Pomegranate, 3 Palm, 1 African Sumac, 1 Mimosa, 1 Arizona Ash, and 1 California Pepper trees that offer a comforting shade when relaxing on the patio. The spa & fire pit make this house a great home for entertaining guests or just relaxing with family after a long day. Features an oversized storage shed that also stays! Come check out this home, you will not be disappointed!

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: 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
 

$297,000$363,000$330,000

PURCHASE PRICE

$1,323$1,617$1,470

RENT

DOWN PAYMENT
FINANCING

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-$6.0k-$4.0k-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,470
EXPENSES Loan Payment -$1,218
Property Tax -$194
Property Insurance -$58
HOA -$150
Property Management Fees -$119
CASH FLOW
-$269

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.

$330,000

PROJECTED PRICE

$1,470

PROJECTED RENT

0.45%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.96%
Appreciation Year (1-5) 10.69%
Maintenance Year (1-5) 8.00%
Vacancy 7.63%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$93,200

INVESTMENT

$93,200

Down Payment
$82,500
Rehab Estimate
$5,750
Closing Costs
$4,950

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 60% down payment or higher enables the proceeds from the asset to cover all costs.

$1,218

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $82,500
Loan Amount $247,500
See What Happens When You Reinvest Cash Flow

1.83

YEARS SAVED

$4,547

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,470

    LIST RENT
  • $0.93

    LIST RENT PER SQFT
  • $1,475

    COMP ESTIMATED VALUE
  • $0.93

    COMP AVG. RENT PER SQFT
Comps Range
$1,470
1$1,4702$1,4953$1,4954$1,5505$1,600
$1,600
RENT COMPS ANALYSIS
  • 5216 Garcia Court Las Vegas, NV 1
    • 3 beds 2 baths ∙ 1,586 Sqft ∙ Built 1993 3 beds 2 baths ∙ 1,586 Sqft ∙ Built 1993
    • Rent
    • Rent Per SQFT
    •  
    • $1,470
    • $0.93
    •  
  • 4425 Sandhorse Court Las Vegas, NV 2
    • 3 beds 3 baths ∙ 1,630 Sqft ∙ Built 1993 3 beds 3 baths ∙ 1,630 Sqft ∙ Built 1993
    LEASED 10/29/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,495
    • $0.92
    •  
  • 4556 Vincente Lane Las Vegas, NV 3
    • 3 beds 2 baths ∙ 1,586 Sqft ∙ Built 1993 3 beds 2 baths ∙ 1,586 Sqft ∙ Built 1993
    LEASED 10/15/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,495
    • $0.94
    •  
  • 4512 Cielo Lane #n/a Las Vegas, NV 4
    • 3 beds 3 baths ∙ 1,630 Sqft ∙ Built 1992 3 beds 3 baths ∙ 1,630 Sqft ∙ Built 1992
    LEASED 06/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $0.95
    •  
  • 4561 Cielo Lane Las Vegas, NV 5
    • 3 beds 2 baths ∙ 1,752 Sqft ∙ Built 1991 3 beds 2 baths ∙ 1,752 Sqft ∙ Built 1991
    LEASED 04/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $0.91
    •  
PROPERTY LISTING DETAILS
Cameron Brown
1.724.866.4785
Century 21 Americana
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2222720
Last Updated: 08/25/2020
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