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7840 Garehime Street Las Vegas, NV 89131

3 Beds 3 Baths 1,904 sqft Built 1991

$560,000

List Price

$1,880

$1.7K - $2.1K

Rent Est.

PROPERTY INFO

January 23, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1991
  • Price/Sqft : $294.12
  • 3 Days on Market
  • MLS # : 2263526
  • Updated Date : 01/23/2021 at 22:20
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,904 sqft
  • Baths : 2 full , 1 half
Listing Agent

John Griffith Realty

Listing Agent's Description

Interior pictures coming soon. Single story ranch-style home on almost 3/4 acre with NO HOA! Large lot with beautiful mature landscaping in a highly desired and developing area of town. Your new home features a master bedroom en suite bathroom with dual vanity sinks, separate bath and shower, and double walk-in closets. Kitchen has updated appliances, marble countertops, and a passthrough to your dining room for entertaining. True comfort, space, and freedom for you to call home with nearly unlimited opportunity to expand and grow.

SEE MORE

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: 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
Howard Heckethorn Elementary School Primary Regular 657 35 7
Anthony Saville Middle School Middle Regular 1,494 58 NA
Shadow Ridge High School High Regular 2,697 105 6

Howard Heckethorn Elementary School

  • Education Level: Primary
  • # of students: 657
  • # of teachers: 35
7
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
 

$504,000$616,000$560,000

PURCHASE PRICE

$1,692$2,068$1,880

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,880
EXPENSES Loan Payment -$1,945
Property Tax -$245
Property Insurance -$64
Property Management Fees -$119
CASH FLOW
-$493

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.

$560,000

PROJECTED PRICE

$1,880

PROJECTED RENT

0.34%

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$500k$1.0M$1.5M$2.0M

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$500k$1.0M$1.5M$2.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$154,150

INVESTMENT

$154,150

Down Payment
$140,000
Rehab Estimate
$5,750
Closing Costs
$8,400

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,945

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $140,000
Loan Amount $420,000
See What Happens When You Reinvest Cash Flow

1.58

YEARS SAVED

$5,410

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,880

    LIST RENT
  • $0.99

    LIST RENT PER SQFT
  • $1,576

    COMP ESTIMATED VALUE
  • $0.83

    COMP AVG. RENT PER SQFT
Comps Range
$1,650
1$1,6502$1,6503$1,6504$1,7255$1,880
$1,880
RENT COMPS ANALYSIS
  • 7840 Garehime Street Las Vegas, NV 5
    • 3 beds 3 baths ∙ 1,904 Sqft ∙ Built 1991 3 beds 3 baths ∙ 1,904 Sqft ∙ Built 1991
    • Rent
    • Rent Per SQFT
    •  
    • $1,880
    • $0.99
    •  
  • 8245 Celina Hills Street Las Vegas, NV 1
    • 3 beds 3 baths ∙ 2,066 Sqft ∙ Built 2005 3 beds 3 baths ∙ 2,066 Sqft ∙ Built 2005
    LEASED 03/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.80
    •  
  • 7009 Mercurio Avenue Las Vegas, NV 2
    • 3 beds 3 baths ∙ 2,036 Sqft ∙ Built 2005 3 beds 3 baths ∙ 2,036 Sqft ∙ Built 2005
    LEASED 07/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.81
    •  
  • 6832 Brier Creek Lane #0 Las Vegas, NV 3
    • 3 beds 2 baths ∙ 1,894 Sqft ∙ Built 2004 3 beds 2 baths ∙ 1,894 Sqft ∙ Built 2004
    LEASED 08/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.87
    •  
  • 8116 Celina Hills Street Las Vegas, NV 4
    • 3 beds 3 baths ∙ 2,066 Sqft ∙ Built 2005 3 beds 3 baths ∙ 2,066 Sqft ∙ Built 2005
    LEASED 09/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,725
    • $0.83
    •  
PROPERTY LISTING DETAILS
William Fox
1.702.722.5569
John Griffith Realty
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2263526
Last Updated: 01/23/2021
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