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916 Bear Gulch Court North Las Vegas, NV 89031

5 Beds 3 Baths 3,177 sqft Built 2002

$500,000

List Price

$2,240

$2K - $2.5K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
FACTS
  • Single Family
  • Built In 2002
  • Price/Sqft : $157.38
  • 10 Days on Market
  • MLS # : 2280234
  • Updated Date : 03/21/2021 at 09:00
CONSTRUCTION
  • Beds : 5
  • Floor Size : 3,177 sqft
  • Baths : 3 full
Listing Agent

Re/max Advantage

Listing Agent's Description

Most Amazing Eldorado/Aliante 5 Bed*3 bath*4 CAR GARAGE home*HUGE Swimming pool w/multiple water fountains*Enclosed garden patio/fire pit*Outdoor kitchen*Talk about IMPRESS! Foyer, Formal Living*Dark Wood Flooring*Family Room w/informal dining*Kitchen Island w/Granite Countertops*Upgraded Cabinetry*Walk In Pantry*Kitchen Desk*Master with walk in closet, double sinks*

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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)

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
 

$450,000$550,000$500,000

PURCHASE PRICE

$2,016$2,464$2,240

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,240
EXPENSES Loan Payment -$1,737
Property Tax -$359
Property Insurance -$89
Property Management Fees -$119
CASH FLOW
-$63

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.

$500,000

PROJECTED PRICE

$2,240

PROJECTED RENT

0.45%

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$1.4M$1.6M$1.8M

PROJECTED ANNUAL CASH FLOW

11530-$5.0k$0.0$5.0k$10k$15k$20k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M$1.6M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$138,250

INVESTMENT

$138,250

Down Payment
$125,000
Rehab Estimate
$5,750
Closing Costs
$7,500

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,737

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $125,000
Loan Amount $375,000
See What Happens When You Reinvest Cash Flow

5.08

YEARS SAVED

$26,176

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,240

    LIST RENT
  • $0.71

    LIST RENT PER SQFT
  • $2,383

    COMP ESTIMATED VALUE
  • $0.75

    COMP AVG. RENT PER SQFT
Comps Range
$2,175
1$2,1752$2,2403$2,2854$2,4955$2,499
$2,499
RENT COMPS ANALYSIS
  • 916 Bear Gulch Court North Las Vegas, NV 2
    • 5 beds 3 baths ∙ 3,177 Sqft ∙ Built 2002 5 beds 3 baths ∙ 3,177 Sqft ∙ Built 2002
    • Rent
    • Rent Per SQFT
    •  
    • $2,240
    • $0.71
    •  
  • 6548 Candleglade Court North Las Vegas, NV 1
    • 5 beds 2 baths ∙ 3,173 Sqft ∙ Built 2005 5 beds 2 baths ∙ 3,173 Sqft ∙ Built 2005
    LEASED 03/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,175
    • $0.69
    •  
  • 6437 Diamond Point Court North Las Vegas, NV 3
    • 4 beds 3 baths ∙ 3,092 Sqft ∙ Built 2005 4 beds 3 baths ∙ 3,092 Sqft ∙ Built 2005
    LEASED 12/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,285
    • $0.74
    •  
  • 6512 Claystone Creek Court North Las Vegas, NV 4
    • 4 beds 2 baths ∙ 3,233 Sqft ∙ Built 2015 4 beds 2 baths ∙ 3,233 Sqft ∙ Built 2015
    LEASED 08/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,495
    • $0.77
    •  
  • 910 Hollowbluff Avenue North Las Vegas, NV 5
    • 4 beds 3 baths ∙ 3,105 Sqft ∙ Built 1992 4 beds 3 baths ∙ 3,105 Sqft ∙ Built 1992
    LEASED 02/11/21
    • Rent
    • Rent Per SQFT
    •  
    • $2,499
    • $0.80
    •  
PROPERTY LISTING DETAILS
Sandra L Thomas
1.702.480.9918
Re/max Advantage
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2280234
Last Updated: 03/21/2021
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