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8142 Canyon Grassland Street Las Vegas, NV 89166

3 Beds 3 Baths 2,222 sqft Built 2017

$475,000

List Price

$2,240

$2K - $2.5K

Rent Est.

$131,625

Investment Est.

PROPERTY INFO

December 26, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2017
  • Price/Sqft : $213.77
  • 6 Days on Market
  • MLS # : 2257260
  • Updated Date : 12/26/2020 at 02:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,222 sqft
  • Baths : 2 full , 1 half
Listing Agent

Platinum R.e. Professionals

Listing Agent's Description

STUNNING single story home offers open floor plan! 13 Ft entry w/10 ft ceilings throughout home. Wood tile flooring throughout entry, kitchen and family room. Chef's Dream Kitchen includes: Quartz Countertops, Walk in pantry, Double Ovens, stainless steel appliances, 5 burner cooktop, large island & double stacked cabinets. Spacious great room with fireplace. Large Primary Bedroom (on opposite side of home) & secondary bedrooms. Large laundry room with sink and cabinets for plenty of storage. Backyard offers, mountain views ,pavers, synthetic grass and pavers. Community offers many amenities such as, Park, Basketball Courts, Playground, Pool & Fitness Center.

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MARKET HIGHLIGHTS

Las Vegas Market Report
  • 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: 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
Kenneth Divich Elementary Primary Unknown NA
Edmundo Eddie Escobedo Sr Middle School Middle Regular 1,171 47 NA
Arbor View High School High Regular 2,878 116 9

Kenneth Divich Elementary

  • Education Level: Primary
  • # of students:
  • # of teachers:
NA
GreatSchools Rating

Edmundo Eddie Escobedo Sr Middle School

  • Education Level: Middle
  • # of students: 1,171
  • # of teachers: 47
NA
GreatSchools Rating

Arbor View High School

  • Education Level: High
  • # of students: 2,878
  • # of teachers: 116
9
GreatSchools Rating
 

FINANCIALS

Learn how to read this

$427,500$522,500$475,000

PURCHASE PRICE

$2,016$2,464$2,240

RENT

DOWN PAYMENT
FINANCING
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FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,240
EXPENSES Loan Payment -$1,753
Property Tax -$408
Property Insurance -$70
Property Management Fees -$119
CASH FLOW
-$110

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.

$475,000

PROJECTED PRICE

$2,240

PROJECTED RENT

0.47%

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$200k$400k$600k$800k$1.0M$1.2M$1.4M$1.6M$1.8M

PROJECTED ANNUAL CASH FLOW

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

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$131,625

INVESTMENT

$131,625

Down Payment		 $118,750
Rehab Estimate		 $5,750
Closing Costs		 $7,125

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,753

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $118,750
Loan Amount $356,250
See What Happens When You Reinvest Cash Flow

4.58

YEARS SAVED

$26,550

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,240

    LIST RENT

  • $1.01

    LIST RENT PER SQFT

  • $1,794

    COMP ESTIMATED VALUE

  • $0.81

    COMP AVG. RENT PER SQFT
Comps Range
$1,595
1$1,5952$1,6503$1,6954$1,7505$2,240
$2,240
RENT COMPS ANALYSIS
  • 8142 Canyon Grassland Street Las Vegas, NV 5
    • 3 beds 3 baths ∙ 2,222 Sqft ∙ Built 2017 3 beds 3 baths ∙ 2,222 Sqft ∙ Built 2017
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,240
    • $1.01
    •  
  • 8152 Winterfell Place Las Vegas, NV 1
    • 3 beds 3 baths ∙ 2,022 Sqft ∙ Built 2014 3 beds 3 baths ∙ 2,022 Sqft ∙ Built 2014
    property image
    LEASED 02/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $0.79
    •  
  • 9552 Quitman Avenue Las Vegas, NV 2
    • 3 beds 3 baths ∙ 2,089 Sqft ∙ Built 2006 3 beds 3 baths ∙ 2,089 Sqft ∙ Built 2006
    property image
    LEASED 09/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.79
    •  
  • 9548 Quitman Las Vegas, NV 3
    • 3 beds 3 baths ∙ 2,089 Sqft ∙ Built 2006 3 beds 3 baths ∙ 2,089 Sqft ∙ Built 2006
    property image
    LEASED 06/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $0.81
    •  
  • 9565 Gibbon Avenue Las Vegas, NV 4
    • 3 beds 3 baths ∙ 2,089 Sqft ∙ Built 2005 3 beds 3 baths ∙ 2,089 Sqft ∙ Built 2005
    property image
    LEASED 02/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.84
    •  
PROPERTY LISTING DETAILS
LISTING AGENT
Lisa A Wilson
1.702.497.2665
Platinum R.e. Professionals
BUYER AGENT
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
SOURCE
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2257260
Last Updated: 12/26/2020

All returns, cash flow, and appreciation estimates are projections. Please review our Disclaimer for more information.

All values are rounded to the nearest dollar.
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