Work with a dedicated Real Estate Advisor who will take your financial preferences and help you select and acquire properties that fit your criteria. Learn more

8336 Garnet Canyon Lane Las Vegas, NV 89129

6 Beds 2 Baths 3,828 sqft Built 1993

$789,900

List Price

$2,900

$2.7K - $3.2K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 09, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1993
  • Price/Sqft : $206.35
  • 6 Days on Market
  • MLS # : 2277201
  • Updated Date : 03/10/2021 at 00:31
CONSTRUCTION
  • Beds : 6
  • Floor Size : 3,828 sqft
  • Baths : 2 full
Listing Agent

General Realty Group Inc

Listing Agent's Description

GORGEOUS RENOVATED HOME ON NEARLY 1/2 ACRE W MULTIPLE OUTDOOR ENTERTAINMENT AREAS & POOL. VAULTED CEILINGS WELCOME YOU INTO THE FORMAL LIVING W CUSTOM FIREPLACE WALL. THE FAMILY ROOM ALSO FEATURES A CUSTOM FIREPLACE AND THE BAR HAS A WINE FRIG, DRINK FRIG, ICE MAKER & SINK. THE COMPLETELY UPDATED KITCHEN FEATURES A OVERSIZED SINGLE SINK, LARGE EATIN ISLAND & AMPLE COUNTERSPACE & STORAGE. THIS HOME CONTAINS SIX BEDROOMS. 1 DOWN WITH A 3/4 BATH AND 1 UPSTAIRS IS BUILT OUT AS A CUSTOM CLOSET.THE OVERSIZED MASTER BATHROOM OCCUPIES ITS OWN SIDE OF THE HOME AND CONTAINS A LUXURIOUS SHOWER & SOAKING TUB. THIS HOME IS LOCATED IN A BEAUTIFUL, WELL MAINTAINED GATED NEIGHBORHOOD THAT YOU'LL WANT TO RAISE YOUR FAMILY IN. ADDITIONAL FEATURES OF THE PROPERTY: PALAPA W GAS BBQ, MASSIVE OUTDOOR PATIO W CEILING FAN & WIRED FOR TV, WATER SOFTENER, 3 CAR GARAGE, RV PARKING, LUX VINYL FLOORS & PLANTATION SHUTTERS.

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: Lone Mountain

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320kPrice in $119k326k

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

Neighborhood: Lone Mountain

NeighborhoodNIR Market*CityMarket2010Year20002019 Q211001150120012501300135014001450150015501600Rent in $10701616

* 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
Dean Lamar Allen Elementary School Primary Regular 660 32 6
Justice M E Leavitt Middle School Middle Regular 1,496 64 NA
Centennial High School High Regular 3,055 124 6

Dean Lamar Allen Elementary School

  • Education Level: Primary
  • # of students: 660
  • # of teachers: 32
6
GreatSchools Rating

Justice M E Leavitt Middle School

  • Education Level: Middle
  • # of students: 1,496
  • # of teachers: 64
NA
GreatSchools Rating

Centennial High School

  • Education Level: High
  • # of students: 3,055
  • # of teachers: 124
6
GreatSchools Rating
 

$710,910$868,890$789,900

PURCHASE PRICE

$2,610$3,190$2,900

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,900
EXPENSES Loan Payment -$2,744
Property Tax -$378
Property Insurance -$101
Property Management Fees -$119
CASH FLOW
-$442

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.

$789,900

PROJECTED PRICE

$2,900

PROJECTED RENT

0.37%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.96%
Appreciation Year (1-5) 10.3%
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$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$30k

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$215,074

INVESTMENT

$215,074

Down Payment
$197,475
Rehab Estimate
$5,750
Closing Costs
$11,849

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,744

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $197,475
Loan Amount $592,425
See What Happens When You Reinvest Cash Flow

3

YEARS SAVED

$18,538

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,900

    LIST RENT
  • $0.76

    LIST RENT PER SQFT
  • $2,938

    COMP ESTIMATED VALUE
  • $0.77

    COMP AVG. RENT PER SQFT
Comps Range
$2,600
1$2,6002$2,6503$2,8954$2,9005$3,300
$3,300
RENT COMPS ANALYSIS
  • 8336 Garnet Canyon Lane Las Vegas, NV 4
    • 5 beds 2 baths ∙ 3,828 Sqft ∙ Built 1993 5 beds 2 baths ∙ 3,828 Sqft ∙ Built 1993
    • Rent
    • Rent Per SQFT
    •  
    • $2,900
    • $0.76
    •  
  • 4253 Thunder Twice Street Las Vegas, NV 1
    • 5 beds 2 baths ∙ 3,723 Sqft ∙ Built 2004 5 beds 2 baths ∙ 3,723 Sqft ∙ Built 2004
    LEASED 02/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,600
    • $0.70
    •  
  • 8073 Mackenzie Court Las Vegas, NV 2
    • 5 beds 4 baths ∙ 3,494 Sqft ∙ Built 1991 5 beds 4 baths ∙ 3,494 Sqft ∙ Built 1991
    LEASED 05/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,650
    • $0.76
    •  
  • 7512 Cathedral Canyon Court #n/a Las Vegas, NV 3
    • 6 beds 3 baths ∙ 3,828 Sqft ∙ Built 1993 6 beds 3 baths ∙ 3,828 Sqft ∙ Built 1993
    LEASED 12/23/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,895
    • $0.76
    •  
  • 8825 Hickam Las Vegas, NV 5
    • 5 beds 3 baths ∙ 3,880 Sqft ∙ Built 2003 5 beds 3 baths ∙ 3,880 Sqft ∙ Built 2003
    LEASED 07/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,300
    • $0.85
    •  
PROPERTY LISTING DETAILS
Vicente Delgadillo
1.702.321.5312
General Realty Group Inc
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2277201
Last Updated: 03/10/2021
BESbswy