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8996 Gabro Lane Las Vegas, NV 89123

4 Beds 3 Baths 2,429 sqft Built 1999

$609,999

List Price

$2,160

$1.9K - $2.4K

Rent Est.

PROPERTY INFO

December 15, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1999
  • Price/Sqft : $251.13
  • 7 Days on Market
  • MLS # : 2255702
  • Updated Date : 12/14/2020 at 16:59
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,429 sqft
  • Baths : 2 full , 1 half
Listing Agent

Tr Realty

Listing Agent's Description

WOW! jaw drooping property With paradise oasis backyard with pool spa and waterfalls with lights all around backyard giving you the ultimate backyard, private outdoor kitchen with build in barbecue and mounted TV's ceiling fans, private Bar with stone bar chairs and shaded sitting area to relax and cool down, RV/boat parking with a private gate and this is just the backyard! new paint and waterproof flooring throughout the house, custom gourmet kitchen with stainless appliances and an Island. high ceiling entry foyer with electrical fire place and stone wall, formal dining room, large family room with stone TV wall. Huge master with granite in bathroom walls and countertops and double sinks in both bathrooms. big walk-in closet, security system and much more. come see this paradise home in central Las Vegas close to the Airport and the strip and major highways and shopping centers. act fast! rare opportunity!

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: Paradise

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280kPrice in $112k296k

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

Neighborhood: Paradise

NeighborhoodNIR Market*CityMarket2010Year20002019 Q211001150120012501300135014001450150015501600Rent in $10761606

* 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
Aggie Roberts Elementary School Primary Regular 805 39 7
Jack L. Schofield Middle School Middle Regular 1,332 51 NA
Silverado High School High Regular 2,263 94 5

Aggie Roberts Elementary School

  • Education Level: Primary
  • # of students: 805
  • # of teachers: 39
7
GreatSchools Rating

Jack L. Schofield Middle School

  • Education Level: Middle
  • # of students: 1,332
  • # of teachers: 51
NA
GreatSchools Rating

Silverado High School

  • Education Level: High
  • # of students: 2,263
  • # of teachers: 94
5
GreatSchools Rating
 

$548,999$670,999$609,999

PURCHASE PRICE

$1,944$2,376$2,160

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,160
EXPENSES Loan Payment -$2,251
Property Tax -$291
Property Insurance -$74
Property Management Fees -$119
CASH FLOW
-$575

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.

$609,999

PROJECTED PRICE

$2,160

PROJECTED RENT

0.35%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.96%
Appreciation Year (1-5) 9.4%
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$167,400

INVESTMENT

$167,400

Down Payment
$152,500
Rehab Estimate
$5,750
Closing Costs
$9,150

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 60% down payment or higher enables the proceeds from the asset to cover all costs.

$2,251

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $152,500
Loan Amount $457,499
See What Happens When You Reinvest Cash Flow

1.58

YEARS SAVED

$6,446

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,160

    LIST RENT
  • $0.89

    LIST RENT PER SQFT
  • $1,895

    COMP ESTIMATED VALUE
  • $0.78

    COMP AVG. RENT PER SQFT
Comps Range
$1,695
1$1,6952$1,7003$1,7254$1,9755$2,160
$2,160
RENT COMPS ANALYSIS
  • 8996 Gabro Lane Las Vegas, NV 5
    • 4 beds 3 baths ∙ 2,429 Sqft ∙ Built 1999 4 beds 3 baths ∙ 2,429 Sqft ∙ Built 1999
    • Rent
    • Rent Per SQFT
    •  
    • $2,160
    • $0.89
    •  
  • 8720 Blue Wolf Street Las Vegas, NV 1
    • 3 beds 3 baths ∙ 2,274 Sqft ∙ Built 2005 3 beds 3 baths ∙ 2,274 Sqft ∙ Built 2005
    LEASED 12/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $0.75
    •  
  • 1669 Little Crow Avenue Las Vegas, NV 2
    • 3 beds 3 baths ∙ 2,274 Sqft ∙ Built 2006 3 beds 3 baths ∙ 2,274 Sqft ∙ Built 2006
    LEASED 02/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $0.75
    •  
  • 1616 Little Crow Las Vegas, NV 3
    • 3 beds 3 baths ∙ 2,274 Sqft ∙ Built 2006 3 beds 3 baths ∙ 2,274 Sqft ∙ Built 2006
    LEASED 06/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,725
    • $0.76
    •  
  • 1947 Tremolite Avenue Las Vegas, NV 4
    • 3 beds 3 baths ∙ 2,294 Sqft ∙ Built 1999 3 beds 3 baths ∙ 2,294 Sqft ∙ Built 1999
    LEASED 09/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,975
    • $0.86
    •  
PROPERTY LISTING DETAILS
Mahalalel A Hamilton
1.702.768.0034
Tr Realty
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2255702
Last Updated: 12/14/2020
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