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8217 Grand Pacific Drive Las Vegas, NV 89128

4 Beds 3 Baths 2,080 sqft Built 1993

$375,000

List Price

$1,770

$1.6K - $1.9K

Rent Est.

PROPERTY INFO

January 16, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1993
  • Price/Sqft : $180.29
  • 6 Days on Market
  • MLS # : 2260233
  • Updated Date : 01/17/2021 at 01:34
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,080 sqft
  • Baths : 2 full , 1 half
Listing Agent

New Door Residential

Listing Agent's Description

Well maintained beautiful 2 story 4 bedroom home with pool and jacuzzi on huge corner lot! Home is centrally located to parks, dining, entertainment, and freeways. Enter into the bright living room flowing into the additional family area, and kitchen. Kitchen boasts tile flooring, and breakfast counter. Family room is spacious with fireplace, and dining area. Primary bedroom is very large with walk in closet, and bathroom featuring double sinks, separate shower and tub. Enjoy the huge backyard with sparkling pool and spa, covered patio, and shed. NO HOA!

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • As the largest share, Las Vegas metro contributes to 75.1% of Nevada state's economy i.e. Gross State Product (USMayors.org, 2018)

PRICE & RENT TRENDS

Neighborhood: Pioneer Park

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260k280kPrice in $84k296k

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

Neighborhood: Pioneer Park

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21000105011001150120012501300135014001450150015501600Rent in $9551606

* 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
Edythe And Lloyd Katz Elementary School Primary Regular 711 36 4
Walter Johnson Junior High School Middle Regular 1,102 50 NA
Palo Verde High School High Regular 3,024 114 9

Edythe And Lloyd Katz Elementary School

  • Education Level: Primary
  • # of students: 711
  • # of teachers: 36
4
GreatSchools Rating

Walter Johnson Junior High School

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

Palo Verde High School

  • Education Level: High
  • # of students: 3,024
  • # of teachers: 114
9
GreatSchools Rating
 

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

PURCHASE PRICE

$1,593$1,947$1,770

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,770
EXPENSES Loan Payment -$1,303
Property Tax -$251
Property Insurance -$67
Property Management Fees -$119
CASH FLOW
$30

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

$1,770

PROJECTED RENT

0.47%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.96%
Appreciation Year (1-5) 11.5%
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 45% 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

6.25

YEARS SAVED

$26,731

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,770

    LIST RENT
  • $0.85

    LIST RENT PER SQFT
  • $1,747

    COMP ESTIMATED VALUE
  • $0.84

    COMP AVG. RENT PER SQFT
Comps Range
$1,595
1$1,5952$1,6503$1,7704$1,9505$2,000
$2,000
RENT COMPS ANALYSIS
  • 8217 Grand Pacific Drive Las Vegas, NV 3
    • 4 beds 3 baths ∙ 2,080 Sqft ∙ Built 1993 4 beds 3 baths ∙ 2,080 Sqft ∙ Built 1993
    • Rent
    • Rent Per SQFT
    •  
    • $1,770
    • $0.85
    •  
  • 1201 Gallery Shores Drive Las Vegas, NV 1
    • 4 beds 3 baths ∙ 2,080 Sqft ∙ Built 1994 4 beds 3 baths ∙ 2,080 Sqft ∙ Built 1994
    LEASED 01/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $0.77
    •  
  • 1025 Seabury Hill Court Las Vegas, NV 2
    • 4 beds 3 baths ∙ 2,080 Sqft ∙ Built 1994 4 beds 3 baths ∙ 2,080 Sqft ∙ Built 1994
    LEASED 12/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.79
    •  
  • 1624 Desert Canyon Court Las Vegas, NV 4
    • 4 beds 3 baths ∙ 2,162 Sqft ∙ Built 1994 4 beds 3 baths ∙ 2,162 Sqft ∙ Built 1994
    LEASED 07/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $0.90
    •  
  • 1620 Plata Pico Las Vegas, NV 5
    • 3 beds 3 baths ∙ 2,210 Sqft ∙ Built 1994 3 beds 3 baths ∙ 2,210 Sqft ∙ Built 1994
    LEASED 03/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $0.90
    •  
PROPERTY LISTING DETAILS
Jeffrey A Galindo
1.702.290.6458
New Door Residential
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2260233
Last Updated: 01/17/2021
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