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8430 Gardena Hills Avenue Las Vegas, NV 89178

3 Beds 2 Baths 1,992 sqft Built 2005

INVESTimate

$340,000

List Price

$1,730

$1,557 - $1,903

Rent Est.

$368,696  ( +8.44%)   1 YR EST. FORECAST

PROPERTY INFO

August 21, 2020 RECENTLY ADDED
FACTS
  • Built In 2005
  • Price/Sqft : $170.68
  • 7 Days on Market
  • MLS # : 2223769
  • Updated Date : 08/25/2020 at 18:37
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,992 sqft
  • Baths : 1 full , 1 half
Listing Agent

Simply Vegas

Listing Agent's Description

Stunning Home located in the heart of Mountains Edge Master Planned Community within walking distance to schools. This home features 3 Large Bedrooms plus bonus Loft with Fireplace. Every bedroom has ceiling fans and walk-in closets. Home features Vaulted Ceilings, In-ceiling speakers for surround sound, beautiful wood-like flooring with one of the largest backyard lots in the entire neighborhood! Home has brand new AC unit and Synthetic grass in the backyard with easy low maintenance landscaping and 1 low HOA. Thanks for viewing 8430 Gardena Hills!

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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: Mountain Edge

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320k340k360kPrice in $119k362k

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

Neighborhood: Mountain Edge

NeighborhoodNIR Market*CityMarket2010Year20002019 Q211001200130014001500160017001800Rent in $10391875

* 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
William V. Wright Elementary School Primary Regular 1,256 62 8
Lawrence And Heidi Canarelli Middle School Middle Regular 1,802 70 NA
Desert Oasis High School High Regular 2,417 102 5

William V. Wright Elementary School

  • Education Level: Primary
  • # of students: 1,256
  • # of teachers: 62
8
GreatSchools Rating

Lawrence And Heidi Canarelli Middle School

  • Education Level: Middle
  • # of students: 1,802
  • # of teachers: 70
NA
GreatSchools Rating

Desert Oasis High School

  • Education Level: High
  • # of students: 2,417
  • # of teachers: 102
5
GreatSchools Rating
 

$306,000$374,000$340,000

PURCHASE PRICE

$1,557$1,903$1,730

RENT

DOWN PAYMENT
FINANCING

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$200k$400k$600k$800k$1.0M$1.2M

PROJECTED ANNUAL CASH FLOW

11530$0.0$5.0k$10k$15k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,730
EXPENSES Loan Payment -$1,254
Property Tax -$234
Property Insurance -$66
HOA -$93
Property Management Fees -$119
CASH FLOW
-$36

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.

$340,000

PROJECTED PRICE

$1,730

PROJECTED RENT

0.51%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.05%
Appreciation Year (1-5) 8.44%
Maintenance Year (1-5) 8.00%
Vacancy 7.57%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$95,850

INVESTMENT

$95,850

Down Payment
$85,000
Rehab Estimate
$5,750
Closing Costs
$5,100

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,254

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $85,000
Loan Amount $255,000
See What Happens When You Reinvest Cash Flow

5.33

YEARS SAVED

$22,532

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,730

    LIST RENT
  • $0.87

    LIST RENT PER SQFT
  • $1,773

    COMP ESTIMATED VALUE
  • $0.89

    COMP AVG. RENT PER SQFT
Comps Range
$1,650
1$1,6502$1,6953$1,7004$1,7305$1,790
$1,790
RENT COMPS ANALYSIS
  • 8430 Gardena Hills Avenue Las Vegas, NV 4
    • 3 beds 2 baths ∙ 1,992 Sqft ∙ Built 2005 3 beds 2 baths ∙ 1,992 Sqft ∙ Built 2005
    • Rent
    • Rent Per SQFT
    •  
    • $1,730
    • $0.87
    •  
  • 9708 Skiers Chalet Court #n/a Las Vegas, NV 1
    • 3 beds 3 baths ∙ 1,920 Sqft ∙ Built 2006 3 beds 3 baths ∙ 1,920 Sqft ∙ Built 2006
    LEASED 12/02/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.86
    •  
  • 8159 Rock Meadows Drive Las Vegas, NV 2
    • 4 beds 3 baths ∙ 1,875 Sqft ∙ Built 2006 4 beds 3 baths ∙ 1,875 Sqft ∙ Built 2006
    LEASED 07/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $0.90
    •  
  • 9779 Twin Ponds Court Las Vegas, NV 3
    • 4 beds 2 baths ∙ 1,919 Sqft ∙ Built 2006 4 beds 2 baths ∙ 1,919 Sqft ∙ Built 2006
    LEASED 11/01/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $0.89
    •  
  • 8654 Frasure Falls Avenue Las Vegas, NV 5
    • 3 beds 2 baths ∙ 1,970 Sqft ∙ Built 2005 3 beds 2 baths ∙ 1,970 Sqft ∙ Built 2005
    LEASED 01/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,790
    • $0.91
    •  
PROPERTY LISTING DETAILS
John Gullickson
1.702.526.2332
Simply Vegas
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2223769
Last Updated: 08/25/2020
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