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8025 Gilespie Street Las Vegas, NV 89123

4 Beds 3 Baths 2,513 sqft Built 2004

$680,000

List Price

$2,300

$2.1K - $2.5K

Rent Est.

PROPERTY INFO

FACTS
  • Single Family
  • Built In 2004
  • Price/Sqft : $270.59
  • 12 Days on Market
  • MLS # : 2251462
  • Updated Date : 12/11/2020 at 14:02
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,513 sqft
  • Baths : 3 full
Listing Agent

Vegas Dream Homes Inc

Listing Agent's Description

Gorgeous 2 story home with a pool and spa! Oversized driveway with 3 car garage, over 1/2 acre lot with covered patio that has 2 ceiling fans, basketball court in the backyard. There is a large balcony off of the master bedroom with beautiful Strip view, separate shower, separate tub, and double sinks in master bath, and large walk in closet. Stainless kitchen appliances, nice sized laundry room with sink and cabinets. This home is a must see!

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: Enterprise

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320k340k360kPrice in $119k362k

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

Neighborhood: Enterprise

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2100011001200130014001500160017001800Rent in $9981875

* 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
Louis Wiener Jr Elementary School Primary Regular 701 39 7
Jack L. Schofield Middle School Middle Regular 1,332 51 NA
Silverado High School High Regular 2,263 94 5

Louis Wiener Jr Elementary School

  • Education Level: Primary
  • # of students: 701
  • # of teachers: 39
7
GreatSchools Rating

Jack L. Schofield Middle School

  • Education Level: Middle
  • # of students: 1,332
  • # of teachers: 51
NA
GreatSchools Rating

Silverado High School

  • Education Level: High
  • # of students: 2,263
  • # of teachers: 94
5
GreatSchools Rating
 

$612,000$748,000$680,000

PURCHASE PRICE

$2,070$2,530$2,300

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,300
EXPENSES Loan Payment -$2,509
Property Tax -$424
Property Insurance -$76
Property Management Fees -$119
CASH FLOW
-$828

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.

$680,000

PROJECTED PRICE

$2,300

PROJECTED RENT

0.34%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.05%
Appreciation Year (1-5) 9.8%
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-$15k-$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$185,950

INVESTMENT

$185,950

Down Payment
$170,000
Rehab Estimate
$5,750
Closing Costs
$10,200

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 65% down payment or higher enables the proceeds from the asset to cover all costs.

$2,509

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $170,000
Loan Amount $510,000
See What Happens When You Reinvest Cash Flow

0.67

YEARS SAVED

$1,788

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,300

    LIST RENT
  • $0.92

    LIST RENT PER SQFT
  • $2,111

    COMP ESTIMATED VALUE
  • $0.84

    COMP AVG. RENT PER SQFT
Comps Range
$1,900
1$1,9002$1,9503$1,9954$2,3005$2,700
$2,700
RENT COMPS ANALYSIS
  • 8025 Gilespie Street Las Vegas, NV 4
    • 4 beds 3 baths ∙ 2,513 Sqft ∙ Built 2004 4 beds 3 baths ∙ 2,513 Sqft ∙ Built 2004
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $0.92
    •  
  • 7445 Bermuda Island Street Las Vegas, NV 1
    • 4 beds 3 baths ∙ 2,480 Sqft ∙ Built 1997 4 beds 3 baths ∙ 2,480 Sqft ∙ Built 1997
    LEASED 11/18/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,900
    • $0.77
    •  
  • 8019 Skywall Las Vegas, NV 2
    • 4 beds 3 baths ∙ 2,329 Sqft ∙ Built 1991 4 beds 3 baths ∙ 2,329 Sqft ∙ Built 1991
    LEASED 06/25/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $0.84
    •  
  • 7734 Locke Haven Drive Las Vegas, NV 3
    • 4 beds 3 baths ∙ 2,539 Sqft ∙ Built 1994 4 beds 3 baths ∙ 2,539 Sqft ∙ Built 1994
    LEASED 05/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,995
    • $0.79
    •  
  • 7665 Gilespie Street Las Vegas, NV 5
    • 4 beds 3 baths ∙ 2,798 Sqft ∙ Built 2000 4 beds 3 baths ∙ 2,798 Sqft ∙ Built 2000
    LEASED 01/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,700
    • $0.96
    •  
PROPERTY LISTING DETAILS
John J Faulis
1.702.265.1067
Vegas Dream Homes Inc
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2251462
Last Updated: 12/11/2020
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