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8161 Gilmore Avenue Las Vegas, NV 89129

5 Beds 2 Baths 2,123 sqft Built 1996

$375,000

List Price

$1,840

$1.7K - $2K

Rent Est.

PROPERTY INFO

January 06, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1996
  • Price/Sqft : $176.64
  • 6 Days on Market
  • MLS # : 2259537
  • Updated Date : 01/09/2021 at 21:49
CONSTRUCTION
  • Beds : 5
  • Floor Size : 2,123 sqft
  • Baths : 1 full , 1 half
Listing Agent

Century 21 Americana

Listing Agent's Description

Home Sweet Home!! This Beautiful home has 5 Bedrooms, 3 Bathrooms, 2 Car Garage and a Sparkling Pool! Featuring Granite Countertops, Stainless Steel Appliances, Contemporary Sinks, Hard Flooring throughout, Covered Patio, and so much more! Save on energy costs with Plantation Shutters throughout, Solar screens and Solar panels. Big Master Bedroom with Vaulted Ceilings, Separate tub & shower, Dual sinks, and Huge Walk-in closet. Conveniently located near Schools, Shopping, Freeway Access, Family Parks and Durango Hills Golf Club. This will go fast, Don't miss out on this one!

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: Cimarron Gowan

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280kPrice in $113k296k

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

Neighborhood: Cimarron Gowan

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21000105011001150120012501300135014001450150015501600Rent in $9651606

* 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
Dorothy Eisenberg Elementary School Primary Regular 609 33 6
Irwin And Susan Molasky Junior High School Middle Regular 1,131 50 NA
Cimarron Memorial High School High Regular 2,541 102 3

Dorothy Eisenberg Elementary School

  • Education Level: Primary
  • # of students: 609
  • # of teachers: 33
6
GreatSchools Rating

Irwin And Susan Molasky Junior High School

  • Education Level: Middle
  • # of students: 1,131
  • # of teachers: 50
NA
GreatSchools Rating

Cimarron Memorial High School

  • Education Level: High
  • # of students: 2,541
  • # of teachers: 102
3
GreatSchools Rating
 

$337,500$412,500$375,000

PURCHASE PRICE

$1,656$2,024$1,840

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,840
EXPENSES Loan Payment -$1,303
Property Tax -$232
Property Insurance -$68
Property Management Fees -$119
CASH FLOW
$119

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.

$375,000

PROJECTED PRICE

$1,840

PROJECTED RENT

0.49%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.96%
Appreciation Year (1-5) 10.9%
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$1.4M$1.6M

PROJECTED ANNUAL CASH FLOW

11530$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$105,125

INVESTMENT

$105,125

Down Payment
$93,750
Rehab Estimate
$5,750
Closing Costs
$5,625

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 40% down payment or higher enables the proceeds from the asset to cover all costs.

$1,303

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $93,750
Loan Amount $281,250
See What Happens When You Reinvest Cash Flow

7.5

YEARS SAVED

$35,494

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,840

    LIST RENT
  • $0.87

    LIST RENT PER SQFT
  • $1,613

    COMP ESTIMATED VALUE
  • $0.76

    COMP AVG. RENT PER SQFT
Comps Range
$1,600
1$1,6002$1,6003$1,7004$1,7955$1,840
$1,840
RENT COMPS ANALYSIS
  • 8161 Gilmore Avenue Las Vegas, NV 5
    • 5 beds 2 baths ∙ 2,123 Sqft ∙ Built 1996 5 beds 2 baths ∙ 2,123 Sqft ∙ Built 1996
    • Rent
    • Rent Per SQFT
    •  
    • $1,840
    • $0.87
    •  
  • 7811 Howard Dade Las Vegas, NV 1
    • 4 beds 3 baths ∙ 2,264 Sqft ∙ Built 1995 4 beds 3 baths ∙ 2,264 Sqft ∙ Built 1995
    LEASED 07/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $0.71
    •  
  • 8509 Last Point Avenue Las Vegas, NV 2
    • 4 beds 3 baths ∙ 1,985 Sqft ∙ Built 1999 4 beds 3 baths ∙ 1,985 Sqft ∙ Built 1999
    LEASED 11/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $0.81
    •  
  • 7928 Aviano Pines Avenue Las Vegas, NV 3
    • 4 beds 2 baths ∙ 2,282 Sqft ∙ Built 1996 4 beds 2 baths ∙ 2,282 Sqft ∙ Built 1996
    LEASED 09/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $0.74
    •  
  • 7636 Winterthur Court #0 Las Vegas, NV 4
    • 4 beds 2 baths ∙ 2,304 Sqft ∙ Built 2004 4 beds 2 baths ∙ 2,304 Sqft ∙ Built 2004
    LEASED 04/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,795
    • $0.78
    •  
PROPERTY LISTING DETAILS
Lemichael Curry
1.702.469.9004
Century 21 Americana
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2259537
Last Updated: 01/09/2021
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