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8116 James Grayson Drive Las Vegas, NV 89145

3 Beds 2 Baths 1,402 sqft Built 1990

$289,900

List Price

$1,410

$1.3K - $1.6K

Rent Est.

PROPERTY INFO

January 08, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1990
  • Price/Sqft : $206.78
  • 3 Days on Market
  • MLS # : 2259652
  • Updated Date : 01/08/2021 at 21:30
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,402 sqft
  • Baths : 2 full
Listing Agent

Compass Realty & Management, L

Listing Agent's Description

Beautiful one story, 3 bedroom, 2 bath located 3 min to Tivoli Village, and Boca Park. NO HOA. This home features brand new kitchen granite counters and stainless steel sink, new paint, doggie door, fireplace, landscaped yard, enclosed laundry room and gate to courtyard.

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: Angel Park Lindell

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260k280kPrice in $91k296k

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

Neighborhood: Angel Park Lindell

NeighborhoodNIR Market*CityMarket2010Year20002019 Q29501000105011001150120012501300135014001450150015501600Rent in $9111606

* 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
Walter Jacobson Elementary School Primary Regular 592 32 7
Walter Johnson Junior High School Middle Regular 1,102 50 NA
Bonanza High School High Regular 2,003 83 3

Walter Jacobson Elementary School

  • Education Level: Primary
  • # of students: 592
  • # of teachers: 32
7
GreatSchools Rating

Walter Johnson Junior High School

  • Education Level: Middle
  • # of students: 1,102
  • # of teachers: 50
NA
GreatSchools Rating

Bonanza High School

  • Education Level: High
  • # of students: 2,003
  • # of teachers: 83
3
GreatSchools Rating
 

$260,910$318,890$289,900

PURCHASE PRICE

$1,269$1,551$1,410

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,410
EXPENSES Loan Payment -$1,007
Property Tax -$166
Property Insurance -$54
Property Management Fees -$119
CASH FLOW
$63

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.

$289,900

PROJECTED PRICE

$1,410

PROJECTED RENT

0.49%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.96%
Appreciation Year (1-5) 11.1%
Maintenance Year (1-5) 8.00%
Vacancy 7.63%
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

PROJECTED ANNUAL CASH FLOW

11530-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k$16k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$82,574

INVESTMENT

$82,574

Down Payment
$72,475
Rehab Estimate
$5,750
Closing Costs
$4,349

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 45% down payment or higher enables the proceeds from the asset to cover all costs.

$1,007

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $72,475
Loan Amount $217,425
See What Happens When You Reinvest Cash Flow

7.17

YEARS SAVED

$24,885

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,410

    LIST RENT
  • $1.01

    LIST RENT PER SQFT
  • $1,413

    COMP ESTIMATED VALUE
  • $1.01

    COMP AVG. RENT PER SQFT
Comps Range
$1,350
1$1,3502$1,3753$1,3954$1,4105$1,500
$1,500
RENT COMPS ANALYSIS
  • 8116 James Grayson Drive Las Vegas, NV 4
    • 3 beds 2 baths ∙ 1,402 Sqft ∙ Built 1990 3 beds 2 baths ∙ 1,402 Sqft ∙ Built 1990
    • Rent
    • Rent Per SQFT
    •  
    • $1,410
    • $1.01
    •  
  • 413 Europa Las Vegas, NV 1
    • 3 beds 2 baths ∙ 1,322 Sqft ∙ Built 1994 3 beds 2 baths ∙ 1,322 Sqft ∙ Built 1994
    LEASED 05/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,350
    • $1.02
    •  
  • 8108 Mt Royal Court #0 Las Vegas, NV 2
    • 3 beds 2 baths ∙ 1,402 Sqft ∙ Built 1990 3 beds 2 baths ∙ 1,402 Sqft ∙ Built 1990
    LEASED 04/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,375
    • $0.98
    •  
  • 8113 Mt Harris Court Las Vegas, NV 3
    • 3 beds 2 baths ∙ 1,402 Sqft ∙ Built 1990 3 beds 2 baths ∙ 1,402 Sqft ∙ Built 1990
    LEASED 07/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,395
    • $1.00
    •  
  • 8120 Mt Harris Court Las Vegas, NV 5
    • 3 beds 3 baths ∙ 1,457 Sqft ∙ Built 1990 3 beds 3 baths ∙ 1,457 Sqft ∙ Built 1990
    LEASED 01/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $1.03
    •  
PROPERTY LISTING DETAILS
Carole Aronin
1.702.321.4775
Compass Realty & Management, L
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2259652
Last Updated: 01/08/2021
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