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901 Grey Hollow Avenue North Las Vegas, NV 89031

3 Beds 2 Baths 2,059 sqft Built 1990

$400,000

List Price

$1,560

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

October 30, 2020 RECENTLY ADDED
FACTS
  • Built In 1990
  • Price/Sqft : $194.27
  • 5 Days on Market
  • MLS # : 2243567
  • Updated Date : 10/30/2020 at 21:24
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,059 sqft
  • Baths : 2 full
Listing Agent

Compass Realty & Management, L

Listing Agent's Description

Come see this absolutely GORGEOUS remodeled property in Eldorado! This single-story 3 bedroom 2 bath home sits on a large lot with a stunning backyard & pool! New wood tile flooring in common areas and brand-new designer carpet in bedrooms! New interior & Exterior paint! Spacious open kitchen with fantastic cabinet space, new stainless steel appliances, quartz countertops, tile backsplash and breakfast bar. Adjacent family room features a new custom fireplace surround & modern Accent Wall Panel. Separate formal Living Room & Dining area. Huge master suite boasts a generously-sized walk-in closet & luxurious master bathroom with separate garden tub and custom tile shower! Bonus Mud Room with space for small office. Gorgeous backyard with a sparkling pool, spa, shed, dog run, lawn and plenty of room to entertain! Come see this home today!

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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)

PRICE & RENT TRENDS

Neighborhood: El Dorado

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320k340kPrice in $110k347k

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

Neighborhood: El Dorado

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21000105011001150120012501300135014001450150015501600Rent in $9671606

* 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
Lee Antonello Elementary School Primary Regular 654 36 7
Brian And Teri Cram Middle School Middle Regular 1,568 65 NA
Legacy High School High Regular 2,819 119 3

Lee Antonello Elementary School

  • Education Level: Primary
  • # of students: 654
  • # of teachers: 36
7
GreatSchools Rating

Brian And Teri Cram Middle School

  • Education Level: Middle
  • # of students: 1,568
  • # of teachers: 65
NA
GreatSchools Rating

Legacy High School

  • Education Level: High
  • # of students: 2,819
  • # of teachers: 119
3
GreatSchools Rating
 

$360,000$440,000$400,000

PURCHASE PRICE

$1,404$1,716$1,560

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,560
EXPENSES Loan Payment -$1,476
Property Tax -$277
Property Insurance -$67
Property Management Fees -$119
CASH FLOW
-$379

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.

$400,000

PROJECTED PRICE

$1,560

PROJECTED RENT

0.39%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.96%
Appreciation Year (1-5) 8.8%
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

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$111,750

INVESTMENT

$111,750

Down Payment
$100,000
Rehab Estimate
$5,750
Closing Costs
$6,000

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,476

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $100,000
Loan Amount $300,000
See What Happens When You Reinvest Cash Flow

1.5

YEARS SAVED

$3,968

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,560

    LIST RENT
  • $0.76

    LIST RENT PER SQFT
  • $1,585

    COMP ESTIMATED VALUE
  • $0.77

    COMP AVG. RENT PER SQFT
Comps Range
$1,350
1$1,3502$1,4503$1,5604$1,6505$1,695
$1,695
RENT COMPS ANALYSIS
  • 901 Grey Hollow Avenue North Las Vegas, NV 3
    • 3 beds 2 baths ∙ 2,059 Sqft ∙ Built 1990 3 beds 2 baths ∙ 2,059 Sqft ∙ Built 1990
    • Rent
    • Rent Per SQFT
    •  
    • $1,560
    • $0.76
    •  
  • 5532 Roaring Wind Court #0 North Las Vegas, NV 1
    • 3 beds 2 baths ∙ 1,890 Sqft ∙ Built 2005 3 beds 2 baths ∙ 1,890 Sqft ∙ Built 2005
    LEASED 12/10/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,350
    • $0.71
    •  
  • 1531 Laguna Palms Avenue Las Vegas, NV 2
    • 3 beds 2 baths ∙ 1,872 Sqft ∙ Built 2005 3 beds 2 baths ∙ 1,872 Sqft ∙ Built 2005
    LEASED 01/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $0.77
    •  
  • 630 Blossom Berry Court North Las Vegas, NV 4
    • 4 beds 2 baths ∙ 2,240 Sqft ∙ Built 2000 4 beds 2 baths ∙ 2,240 Sqft ∙ Built 2000
    LEASED 08/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.74
    •  
  • 1416 Grey Hunter Drive North Las Vegas, NV 5
    • 4 beds 3 baths ∙ 1,976 Sqft ∙ Built 1990 4 beds 3 baths ∙ 1,976 Sqft ∙ Built 1990
    LEASED 10/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $0.86
    •  
PROPERTY LISTING DETAILS
Kristin A Ray
1.480.625.2731
Compass Realty & Management, L
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2243567
Last Updated: 10/30/2020
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