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53 Grossinger Court Henderson, NV 89074

4 Beds 4 Baths 2,728 sqft Built 1993

$578,800

List Price

$2,390

$2.2K - $2.6K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 20, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1993
  • Price/Sqft : $212.17
  • 3 Days on Market
  • MLS # : 2280040
  • Updated Date : 03/19/2021 at 23:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,728 sqft
  • Baths : 3 full , 1 half
Listing Agent

Go Global Realty

Listing Agent's Description

GORGEOUS HOME IN GUARD GATED HENDERSON COMMUNITY. 4 BEDROOMS WITH DOWNSTAIRS MASTER BEDROOM , JACK AND JILL BATHROOM UPSTAIRS. THG HOME FEATURES HIGH CEILING WITH LOTS OF NATURAL SUN LIGHTS, THE INTERIOR IS OPEN, BRIGHT AND INVITING. BRAND NEW FIRST FOOR AC UNIT INSTALLED IN MARCH 2021, WITH 10/5 YEAR FACTORY WARRANTY.

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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: Green Valley South

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340k360kPrice in $123k362k

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

Neighborhood: Green Valley South

NeighborhoodNIR Market*CityMarket2010Year20002019 Q211001200130014001500160017001800Rent in $10801875

* 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
Selma F. Bartlett Elementary School Primary Regular 682 35 10
Barbara And Hank Greenspun Middle School Middle Regular 1,397 55 NA
Green Valley High School High Regular 3,092 122 9

Selma F. Bartlett Elementary School

  • Education Level: Primary
  • # of students: 682
  • # of teachers: 35
10
GreatSchools Rating

Barbara And Hank Greenspun Middle School

  • Education Level: Middle
  • # of students: 1,397
  • # of teachers: 55
NA
GreatSchools Rating

Green Valley High School

  • Education Level: High
  • # of students: 3,092
  • # of teachers: 122
9
GreatSchools Rating
 

$520,920$636,680$578,800

PURCHASE PRICE

$2,151$2,629$2,390

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,390
EXPENSES Loan Payment -$2,010
Property Tax -$280
Property Insurance -$80
Property Management Fees -$119
CASH FLOW
-$99

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.

$578,800

PROJECTED PRICE

$2,390

PROJECTED RENT

0.41%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.05%
Appreciation Year (1-5) 8.9%
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$500k$1.0M$1.5M$2.0M

PROJECTED ANNUAL CASH FLOW

11530-$5.0k$0.0$5.0k$10k$15k$20k$25k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M$1.6M$1.8M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$159,132

INVESTMENT

$159,132

Down Payment
$144,700
Rehab Estimate
$5,750
Closing Costs
$8,682

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 50% down payment or higher enables the proceeds from the asset to cover all costs.

$2,010

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $144,700
Loan Amount $434,100
See What Happens When You Reinvest Cash Flow

5.17

YEARS SAVED

$30,778

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,390

    LIST RENT
  • $0.88

    LIST RENT PER SQFT
  • $2,414

    COMP ESTIMATED VALUE
  • $0.89

    COMP AVG. RENT PER SQFT
Comps Range
$2,100
1$2,1002$2,1503$2,3904$2,4705$2,500
$2,500
RENT COMPS ANALYSIS
  • 53 Grossinger Court Henderson, NV 3
    • 4 beds 4 baths ∙ 2,728 Sqft ∙ Built 1993 4 beds 4 baths ∙ 2,728 Sqft ∙ Built 1993
    • Rent
    • Rent Per SQFT
    •  
    • $2,390
    • $0.88
    •  
  • 2054 Majestic Peak Drive Henderson, NV 1
    • 4 beds 2 baths ∙ 2,535 Sqft ∙ Built 1990 4 beds 2 baths ∙ 2,535 Sqft ∙ Built 1990
    LEASED 04/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $0.83
    •  
  • 2069 Sapphire Valley Avenue Henderson, NV 2
    • 4 beds 3 baths ∙ 2,535 Sqft ∙ Built 1991 4 beds 3 baths ∙ 2,535 Sqft ∙ Built 1991
    LEASED 09/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,150
    • $0.85
    •  
  • 2021 Silverton Drive Henderson, NV 4
    • 4 beds 3 baths ∙ 2,720 Sqft ∙ Built 1993 4 beds 3 baths ∙ 2,720 Sqft ∙ Built 1993
    LEASED 08/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,470
    • $0.91
    •  
  • 143 Wentworth Drive Henderson, NV 5
    • 4 beds 2 baths ∙ 2,623 Sqft ∙ Built 1994 4 beds 2 baths ∙ 2,623 Sqft ∙ Built 1994
    LEASED 08/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $0.95
    •  
PROPERTY LISTING DETAILS
Zhongtao Zhang
1.702.883.5143
Go Global Realty
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2280040
Last Updated: 03/19/2021
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