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8616 Grandbank Drive Las Vegas, NV 89145

4 Beds 2 Baths 2,187 sqft Built 1990

$550,000

List Price

$1,860

$1.7K - $2K

Rent Est.

PROPERTY INFO

January 28, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1990
  • Price/Sqft : $251.49
  • 6 Days on Market
  • MLS # : 2263874
  • Updated Date : 01/28/2021 at 00:30
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,187 sqft
  • Baths : 2 full
Listing Agent

Platinum R.e. Professionals

Listing Agent's Description

Special West Mesa Estate single story 4 bedroom + 2 full bathrooms. NO HOA Community. Recently upgraded with over $70K in improvements. Kitchen upgrades include new Quartz Countertops, stainless-steel sink, new stove and oven. This beautiful kitchen also has a cozy dining area, which leads into a comfortable family room with a wet bar, custom brick wood burning fireplace. Formal living & dining rooms. Spacious private master bedroom with direct access to backyard. Master bathroom complete with double sinks, separate shower & tub, large walk-in closet. New Aqua-Guard water resistant floors thru-out the home, fresh paint interior/exterior.Large backyard with pool and possibility for side yard RV parking. Attached 3-car garage with a Jacobs Ladder..Tivoli Village, Downtown Summerlin Shopping, and Golf just minutes away. Freeway close and about 15 minutes to the Strip. Palo Verde School District. Move-in ready.

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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: Angel Park Lindell

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260k280kPrice in $91k296k

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

Neighborhood: Angel Park Lindell

NeighborhoodNIR Market*CityMarket2010Year20002019 Q29501000105011001150120012501300135014001450150015501600Rent in $9111606

* 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
Walter Jacobson Elementary School Primary Regular 592 32 7
Walter Johnson Junior High School Middle Regular 1,102 50 NA
Palo Verde High School High Regular 3,024 114 9

Walter Jacobson Elementary School

  • Education Level: Primary
  • # of students: 592
  • # of teachers: 32
7
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
 

$495,000$605,000$550,000

PURCHASE PRICE

$1,674$2,046$1,860

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,860
EXPENSES Loan Payment -$1,910
Property Tax -$290
Property Insurance -$70
Property Management Fees -$119
CASH FLOW
-$529

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.

$550,000

PROJECTED PRICE

$1,860

PROJECTED RENT

0.34%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.96%
Appreciation Year (1-5) 11.1%
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

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$151,500

INVESTMENT

$151,500

Down Payment
$137,500
Rehab Estimate
$5,750
Closing Costs
$8,250

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 65% down payment or higher enables the proceeds from the asset to cover all costs.

$1,910

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $137,500
Loan Amount $412,500
See What Happens When You Reinvest Cash Flow

1.33

YEARS SAVED

$3,447

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,860

    LIST RENT
  • $0.85

    LIST RENT PER SQFT
  • $1,919

    COMP ESTIMATED VALUE
  • $0.88

    COMP AVG. RENT PER SQFT
Comps Range
$1,745
1$1,7452$1,7953$1,7954$1,7995$1,860
$1,860
RENT COMPS ANALYSIS
  • 8616 Grandbank Drive Las Vegas, NV 5
    • 4 beds 2 baths ∙ 2,187 Sqft ∙ Built 1990 4 beds 2 baths ∙ 2,187 Sqft ∙ Built 1990
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,860
    • $0.85
    •  
  • 8625 Desert Bird Drive Las Vegas, NV 1
    • 4 beds 2 baths ∙ 1,993 Sqft ∙ Built 1995 4 beds 2 baths ∙ 1,993 Sqft ∙ Built 1995
    property image
    LEASED 10/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,745
    • $0.88
    •  
  • 300 Sunnyvale Street Las Vegas, NV 2
    • 4 beds 2 baths ∙ 2,102 Sqft ∙ Built 1994 4 beds 2 baths ∙ 2,102 Sqft ∙ Built 1994
    property image
    LEASED 06/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,795
    • $0.85
    •  
  • 8541 Summer Vista Avenue Las Vegas, NV 3
    • 4 beds 2 baths ∙ 1,993 Sqft ∙ Built 1995 4 beds 2 baths ∙ 1,993 Sqft ∙ Built 1995
    property image
    LEASED 07/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,795
    • $0.90
    •  
  • 8352 Aspenbrook Avenue Las Vegas, NV 4
    • 4 beds 3 baths ∙ 2,043 Sqft ∙ Built 1989 4 beds 3 baths ∙ 2,043 Sqft ∙ Built 1989
    property image
    LEASED 10/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,799
    • $0.88
    •  
PROPERTY LISTING DETAILS
Joseph Scrofani
1.702.882.4949
Platinum R.e. Professionals
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2263874
Last Updated: 01/28/2021
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