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8157 Gilespie Street Las Vegas, NV 89123

3 Beds 3 Baths 2,531 sqft Built 2016

$699,000

List Price

$2,800

$2.6K - $3.1K

Rent Est.

PROPERTY INFO

FACTS
  • Single Family
  • Built In 2016
  • Price/Sqft : $276.18
  • 12 Days on Market
  • MLS # : 2250948
  • Updated Date : 12/01/2020 at 18:30
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,531 sqft
  • Baths : 2 full , 1 half
Listing Agent

Wardley Real Estate

Listing Agent's Description

Amazing single story 3 bed 3 bath home built in 2016 on just over 1/2 acre. No HOA has RV gate and hook ups on both sides of the house. Front yard is set up to be gated if wanted. Finished 3 car garage with swamp cooler. Luxurious home built by Dr Horton with an open floor plan and tall ceilings. Gourmet kitchen with granite countertops, walk in pantry, stainless steel appliances and plenty of cabinet space.Wood like tile in main living areas. Primary bedroom has a walk in closet and luxurious bath. Primary bath has large walk in shower with 2 Raintree shower heads. Ceiling fans in each room. Covered patio. Huge back yard and side yard are ready to be customized. Large paver driveway. No neighbors to the back of the home or the front. Tons of privacy and plenty of room to park boats, rvs, or any toys.

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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
John R. Beatty Elementary School Primary Regular 601 29 8
Jack L. Schofield Middle School Middle Regular 1,332 51 NA
Silverado High School High Regular 2,263 94 5

John R. Beatty Elementary School

  • Education Level: Primary
  • # of students: 601
  • # of teachers: 29
8
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
 

$629,100$768,900$699,000

PURCHASE PRICE

$2,520$3,080$2,800

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,800
EXPENSES Loan Payment -$2,579
Property Tax -$485
Property Insurance -$76
Property Management Fees -$119
CASH FLOW
-$459

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.

$699,000

PROJECTED PRICE

$2,800

PROJECTED RENT

0.40%

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$2.5M

PROJECTED ANNUAL CASH FLOW

11530-$10k-$5.0k$0.0$5.0k$10k$15k$20k$25k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$500k$1.0M$1.5M$2.0M$2.5M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$190,985

INVESTMENT

$190,985

Down Payment
$174,750
Rehab Estimate
$5,750
Closing Costs
$10,485

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$2,579

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $174,750
Loan Amount $524,250
See What Happens When You Reinvest Cash Flow

2.58

YEARS SAVED

$16,778

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,800

    LIST RENT
  • $1.11

    LIST RENT PER SQFT
  • $2,303

    COMP ESTIMATED VALUE
  • $0.91

    COMP AVG. RENT PER SQFT
Comps Range
$1,900
1$1,9002$2,2953$2,4004$2,7005$2,800
$2,800
RENT COMPS ANALYSIS
  • 8157 Gilespie Street Las Vegas, NV 5
    • 3 beds 3 baths ∙ 2,531 Sqft ∙ Built 2016 3 beds 3 baths ∙ 2,531 Sqft ∙ Built 2016
    • Rent
    • Rent Per SQFT
    •  
    • $2,800
    • $1.11
    •  
  • 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
    •  
  • 159 Skipping Stone Lane Las Vegas, NV 2
    • 4 beds 3 baths ∙ 2,384 Sqft ∙ Built 1997 4 beds 3 baths ∙ 2,384 Sqft ∙ Built 1997
    LEASED 10/26/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,295
    • $0.96
    •  
  • 348 Prince George Road Las Vegas, NV 3
    • 4 beds 3 baths ∙ 2,533 Sqft ∙ Built 1997 4 beds 3 baths ∙ 2,533 Sqft ∙ Built 1997
    LEASED 07/15/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,400
    • $0.95
    •  
  • 7665 Gilespie Street Las Vegas, NV 4
    • 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
Vincent M Viola
1.702.428.0651
Wardley Real Estate
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2250948
Last Updated: 12/01/2020
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