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9132 Glennon Avenue Las Vegas, NV 89148

3 Beds 3 Baths 1,390 sqft Built 2006

$279,900

List Price

$1,280

$1.2K - $1.4K

Rent Est.

PROPERTY INFO

December 05, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2006
  • Price/Sqft : $201.37
  • 5 Days on Market
  • MLS # : 2251600
  • Updated Date : 12/05/2020 at 12:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,390 sqft
  • Baths : 2 full , 1 half
Listing Agent

Urban Nest Realty

Listing Agent's Description

Newest home in the Independence community, mountain view Balcony, private yard, Good size front porch, one car garage and carport, New porcelain Flooring, New paint inside and outside, walking closets with plenty of storage space, new washer and dryer, Brand new Water Heater gorgeous 3 bedroom home in a desirable location . Great community with two pool and two play ground,24/7 security car patrolling the community, close to bus stop, IKEA and Smiths ,Rare Find under 300,000

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: Rhodes Ranch

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320kPrice in $119k339k

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

Neighborhood: Rhodes Ranch

NeighborhoodNIR Market*CityMarket2010Year20002019 Q211001200130014001500160017001800Rent in $10551829

* 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
Wayne N. Tanaka Elementary School Primary Regular 1,029 52 5
Wilbur And Theresa Faiss Middle School Middle Regular 1,409 61 NA
Sierra Vista High School High Regular 2,396 88 4

Wayne N. Tanaka Elementary School

  • Education Level: Primary
  • # of students: 1,029
  • # of teachers: 52
5
GreatSchools Rating

Wilbur And Theresa Faiss Middle School

  • Education Level: Middle
  • # of students: 1,409
  • # of teachers: 61
NA
GreatSchools Rating

Sierra Vista High School

  • Education Level: High
  • # of students: 2,396
  • # of teachers: 88
4
GreatSchools Rating
 

$251,910$307,890$279,900

PURCHASE PRICE

$1,152$1,408$1,280

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,280
EXPENSES Loan Payment -$1,033
Property Tax -$175
Property Insurance -$54
Property Management Fees -$119
CASH FLOW
-$101

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.

$279,900

PROJECTED PRICE

$1,280

PROJECTED RENT

0.46%

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

PROJECTED ANNUAL CASH FLOW

11530-$4.0k-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$79,924

INVESTMENT

$79,924

Down Payment
$69,975
Rehab Estimate
$5,750
Closing Costs
$4,199

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,033

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $69,975
Loan Amount $209,925
See What Happens When You Reinvest Cash Flow

4.25

YEARS SAVED

$13,181

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,280

    LIST RENT
  • $0.92

    LIST RENT PER SQFT
  • $1,400

    COMP ESTIMATED VALUE
  • $1.01

    COMP AVG. RENT PER SQFT
Comps Range
$1,250
1$1,2502$1,2803$1,3954$1,3955$1,395
$1,395
RENT COMPS ANALYSIS
  • 9132 Glennon Avenue Las Vegas, NV 2
    • 3 beds 3 baths ∙ 1,390 Sqft ∙ Built 2006 3 beds 3 baths ∙ 1,390 Sqft ∙ Built 2006
    • Rent
    • Rent Per SQFT
    •  
    • $1,280
    • $0.92
    •  
  • 9050 West Warm Springs Road #2042 Las Vegas, NV 1
    • 3 beds 2 baths ∙ 1,237 Sqft ∙ Built 2003 3 beds 2 baths ∙ 1,237 Sqft ∙ Built 2003
    LEASED 12/14/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,250
    • $1.01
    •  
  • 7260 Victoria Oak Las Vegas, NV 3
    • 3 beds 3 baths ∙ 1,419 Sqft ∙ Built 2002 3 beds 3 baths ∙ 1,419 Sqft ∙ Built 2002
    LEASED 05/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,395
    • $0.98
    •  
  • 9218 Hollander Avenue #0 Las Vegas, NV 4
    • 3 beds 3 baths ∙ 1,316 Sqft ∙ Built 2005 3 beds 3 baths ∙ 1,316 Sqft ∙ Built 2005
    LEASED 09/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,395
    • $1.06
    •  
  • 9241 Nerone Avenue #n/a Las Vegas, NV 5
    • 3 beds 3 baths ∙ 1,421 Sqft ∙ Built 2005 3 beds 3 baths ∙ 1,421 Sqft ∙ Built 2005
    LEASED 09/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,395
    • $0.98
    •  
PROPERTY LISTING DETAILS
Fariba Raouf
1.702.296.1883
Urban Nest Realty
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2251600
Last Updated: 12/05/2020
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