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5917 Galway Bay Street North Las Vegas, NV 89081

4 Beds 3 Baths 2,419 sqft Built 2016

$350,000

List Price

$1,710

$1.5K - $1.9K

Rent Est.

PROPERTY INFO

January 06, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2016
  • Price/Sqft : $144.69
  • 5 Days on Market
  • MLS # : 2259452
  • Updated Date : 01/07/2021 at 01:30
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,419 sqft
  • Baths : 2 full , 1 half
Listing Agent

Bhhs Nevada Properties

Listing Agent's Description

LARGE CORNER LOT HOME WITH LOW HOA*NICE CURB APPEAL WITH STACK STONE FACE*OPEN FLOOR PLAN*GREAT FLOW FROM KITCHEN TO FAMILY ROOM FOR ENTERTAINING*IF YOU LOVE TO ENTERTAIN OR COOK THIS HUGE KITCHEN IS A DREAM COME TRUE! EXTRA LARGE KITCHEN ISLAND*NICHE AREA THAT CAN BE USED AS A LITTLE COFFEE/TEA/HOT CHOCOLATE/DESSERT/SNACK BAR*SS APPLIANCES*GRANITE COUNTERS & DESIGNER CABINETS IN THE KITCHEN, BATHROOMS & LAUNDRY ROOM*CEILING FANS & BLINDS THRU OUT*HUGE LOFT WITH ADDITIONAL SMALL PRIVATE ROOM WHICH CAN BE USED AS AN OFFICE/READING AREA/PLAY AREA/SCHOOL AREA/EXERCISE/MEDITATION/YOGA AREA*LAUNDRY ROOM UPSTAIRS FOR CONVENIENCE WITH LOTS OF COUNTERSPACE AND CABINETS*MASTER WITH LARGE WALK IN CLOSET*BATHROOMS HAVE DUAL SINKS & PLENTY OF COUNTER SPACE*USE YOUR IMAGINATION TO DESIGN YOUR DREAM BACKYARD*RAISED SITTING AREA WITH ROOM FOR TONS OF PATIO FURNITURE

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MARKET HIGHLIGHTS

  • 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)
  • 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)

PRICE & RENT TRENDS

Neighborhood: North Las Vegas

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260k280kPrice in $84k296k

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

Neighborhood: North Las Vegas

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21000105011001150120012501300135014001450150015501600Rent in $9651603

* 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
D.l. Dusty Dickens Elementary School Primary Regular 753 43 6
Clifford O. Findlay Middle School Middle Regular 1,372 59 NA
Mojave High School High Regular 2,311 103 2

D.l. Dusty Dickens Elementary School

  • Education Level: Primary
  • # of students: 753
  • # of teachers: 43
6
GreatSchools Rating

Clifford O. Findlay Middle School

  • Education Level: Middle
  • # of students: 1,372
  • # of teachers: 59
NA
GreatSchools Rating

Mojave High School

  • Education Level: High
  • # of students: 2,311
  • # of teachers: 103
2
GreatSchools Rating
 

$315,000$385,000$350,000

PURCHASE PRICE

$1,539$1,881$1,710

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,710
EXPENSES Loan Payment -$1,216
Property Tax -$283
Property Insurance -$74
Property Management Fees -$119
CASH FLOW
$18

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 17% of earned rent to cover both maintenance and periods of vacancy.

$350,000

PROJECTED PRICE

$1,710

PROJECTED RENT

0.49%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.75%
Appreciation Year (1-5) 11.1%
Maintenance Year (1-5) 8.00%
Vacancy 8.50%
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

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$98,500

INVESTMENT

$98,500

Down Payment
$87,500
Rehab Estimate
$5,750
Closing Costs
$5,250

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,216

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $87,500
Loan Amount $262,500
See What Happens When You Reinvest Cash Flow

5.42

YEARS SAVED

$20,544

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,710

    LIST RENT
  • $0.71

    LIST RENT PER SQFT
  • $1,693

    COMP ESTIMATED VALUE
  • $0.7

    COMP AVG. RENT PER SQFT
Comps Range
$1,550
1$1,5502$1,6503$1,6994$1,7105$1,750
$1,750
RENT COMPS ANALYSIS
  • 5917 Galway Bay Street North Las Vegas, NV 4
    • 4 beds 3 baths ∙ 2,419 Sqft ∙ Built 2016 4 beds 3 baths ∙ 2,419 Sqft ∙ Built 2016
    • Rent
    • Rent Per SQFT
    •  
    • $1,710
    • $0.71
    •  
  • 5848 Delaney Falls Street North Las Vegas, NV 1
    • 4 beds 3 baths ∙ 2,419 Sqft ∙ Built 2019 4 beds 3 baths ∙ 2,419 Sqft ∙ Built 2019
    LEASED 02/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $0.64
    •  
  • 5837 Middle Rock Street North Las Vegas, NV 2
    • 3 beds 3 baths ∙ 2,232 Sqft ∙ Built 2018 3 beds 3 baths ∙ 2,232 Sqft ∙ Built 2018
    LEASED 04/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.74
    •  
  • 5852 Fox Hair Street North Las Vegas, NV 3
    • 4 beds 3 baths ∙ 2,419 Sqft ∙ Built 2018 4 beds 3 baths ∙ 2,419 Sqft ∙ Built 2018
    LEASED 06/25/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,699
    • $0.70
    •  
  • 5908 Beluga Bay North Las Vegas, NV 5
    • 4 beds 3 baths ∙ 2,419 Sqft ∙ Built 2018 4 beds 3 baths ∙ 2,419 Sqft ∙ Built 2018
    LEASED 12/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.72
    •  
PROPERTY LISTING DETAILS
Shannon Gaccione
1.702.303.4717
Bhhs Nevada Properties
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2259452
Last Updated: 01/07/2021
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