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9224 Long Grove Avenue Las Vegas, NV 89149

4 Beds 3 Baths 2,116 sqft Built 2015

$345,000

List Price

$1,700

$1.5K - $1.9K

Rent Est.

PROPERTY INFO

January 17, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2015
  • Price/Sqft : $163.04
  • 2 Days on Market
  • MLS # : 2262072
  • Updated Date : 01/17/2021 at 04:27
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,116 sqft
  • Baths : 3 full
Listing Agent

Vegas International Properties

Listing Agent's Description

Nice 4 bedroom, 3 full baths, oversize 2 car garage with insulated overhead garage door, storage racks, extra electrical outlets. Open floor plan, bedroom downstairs with built-in Murphy bed, ceramic tile floors, ceiling fans, beautiful kitchen with pendant over Island and recess lighting throughout, Granite countertops, stainless steel Whirlpool appliances, upgraded faucet, pantry. All appliances stay with home including side-by-side refrigerator, washer & dryer, water softener. Living Room with volume ceilings, master bathroom with double sinks, separate tub & shower, master bedroom with walk-in closet, bedroom 2 has walk-in closet. This home has a lot to offer. Backyard with pavers, gazebo, firepit, mature landscape. This will be a smooth transaction.

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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: Centennial Hills

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320k340k360kPrice in $119k362k

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

Neighborhood: Centennial Hills

NeighborhoodNIR Market*CityMarket2010Year20002019 Q211001200130014001500160017001800Rent in $10761875

* 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
Marshall C. Darnell Elementary School Primary Regular 793 40 6
Edmundo Eddie Escobedo Sr Middle School Middle Regular 1,171 47 NA
Centennial High School High Regular 3,055 124 6

Marshall C. Darnell Elementary School

  • Education Level: Primary
  • # of students: 793
  • # of teachers: 40
6
GreatSchools Rating

Edmundo Eddie Escobedo Sr Middle School

  • Education Level: Middle
  • # of students: 1,171
  • # of teachers: 47
NA
GreatSchools Rating

Centennial High School

  • Education Level: High
  • # of students: 3,055
  • # of teachers: 124
6
GreatSchools Rating
 

$310,500$379,500$345,000

PURCHASE PRICE

$1,530$1,870$1,700

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,700
EXPENSES Loan Payment -$1,198
Property Tax -$271
Property Insurance -$68
Property Management Fees -$119
CASH FLOW
$44

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.

$345,000

PROJECTED PRICE

$1,700

PROJECTED RENT

0.49%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.05%
Appreciation Year (1-5) 10.3%
Maintenance Year (1-5) 8.00%
Vacancy 7.57%
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

PROJECTED ANNUAL CASH FLOW

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

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$97,175

INVESTMENT

$97,175

Down Payment
$86,250
Rehab Estimate
$5,750
Closing Costs
$5,175

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 45% down payment or higher enables the proceeds from the asset to cover all costs.

$1,198

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $86,250
Loan Amount $258,750
See What Happens When You Reinvest Cash Flow

6.5

YEARS SAVED

$26,106

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,700

    LIST RENT
  • $0.8

    LIST RENT PER SQFT
  • $1,693

    COMP ESTIMATED VALUE
  • $0.8

    COMP AVG. RENT PER SQFT
Comps Range
$1,580
1$1,5802$1,6003$1,6254$1,6505$1,700
$1,700
RENT COMPS ANALYSIS
  • 9224 Long Grove Avenue Las Vegas, NV 5
    • 4 beds 3 baths ∙ 2,116 Sqft ∙ Built 2015 4 beds 3 baths ∙ 2,116 Sqft ∙ Built 2015
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $0.80
    •  
  • 9172 Craven Las Vegas, NV 1
    • 4 beds 3 baths ∙ 2,062 Sqft ∙ Built 2006 4 beds 3 baths ∙ 2,062 Sqft ∙ Built 2006
    property image
    LEASED 06/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,580
    • $0.77
    •  
  • 6654 Colorado Spruce Street Las Vegas, NV 2
    • 4 beds 4 baths ∙ 1,977 Sqft ∙ Built 2008 4 beds 4 baths ∙ 1,977 Sqft ∙ Built 2008
    property image
    LEASED 04/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $0.81
    •  
  • 6857 Armistead Street Las Vegas, NV 3
    • 4 beds 3 baths ∙ 2,062 Sqft ∙ Built 2006 4 beds 3 baths ∙ 2,062 Sqft ∙ Built 2006
    property image
    LEASED 08/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,625
    • $0.79
    •  
  • 9237 Longhorn Falls Court Las Vegas, NV 4
    • 3 beds 3 baths ∙ 1,992 Sqft ∙ Built 2007 3 beds 3 baths ∙ 1,992 Sqft ∙ Built 2007
    property image
    LEASED 07/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.83
    •  
PROPERTY LISTING DETAILS
David B Dilks
1.702.524.3130
Vegas International Properties
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2262072
Last Updated: 01/17/2021
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