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948 Glenhaven Place Las Vegas, NV 89138

5 Beds 5 Baths 2,616 sqft Built 2018

$599,000

List Price

$2,700

$2.5K - $3K

Rent Est.

PROPERTY INFO

December 12, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2018
  • Price/Sqft : $228.98
  • 3 Days on Market
  • MLS # : 2254229
  • Updated Date : 12/12/2020 at 05:10
CONSTRUCTION
  • Beds : 5
  • Floor Size : 2,616 sqft
  • Baths : 4 full , 1 half
Listing Agent

Keller Williams Realty Sw

Listing Agent's Description

The highlights of this premium property in the Calendonia community are abundant, both inside and out, starting with the curb appeal of the paver drive and walkways complimented by a modern exterior tile/stucco façade. Through the foyer, pass the under-stairwell storage closet, you’ll find the highly desirable open concept kitchen, dining, and family rooms, and one guest suite complete with private en-suite bathroom. Pull out shelves, under-cabinet lighting, pendant lights, and custom backsplash are just a sample of the upgrades made to this home, but it doesn't end here! Head upstairs and pass through the spacious loft to the Owner's retreat. Wood inlay ceilings, custom window treatments, tankless water heater and whole-home water conditioner, are just a few of the upgrades made throughout. The covered balcony features expansive views over the low-maintenance backyard, showcasing the Spring Mountain Range to the north and south, and The Strip to the east.

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MARKET HIGHLIGHTS

  • 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)
  • 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)

PRICE & RENT TRENDS

Zip Code: 89138

ZipNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450kPrice in $119k476k

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

Zip Code: 89138

ZipNIR Market*CityMarket2010Year20002019 Q21200140016001800200022002400Rent in $10762575

* 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
Billy And Rosemary Vassiliadis Elementary School Primary Unknown NA
Sig Rogich Middle School Middle Regular 1,845 70 NA
Palo Verde High School High Regular 3,024 114 9

Billy And Rosemary Vassiliadis Elementary School

  • Education Level: Primary
  • # of students:
  • # of teachers:
NA
GreatSchools Rating

Sig Rogich Middle School

  • Education Level: Middle
  • # of students: 1,845
  • # of teachers: 70
NA
GreatSchools Rating

Palo Verde High School

  • Education Level: High
  • # of students: 3,024
  • # of teachers: 114
9
GreatSchools Rating
 

$539,100$658,900$599,000

PURCHASE PRICE

$2,430$2,970$2,700

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,700
EXPENSES Loan Payment -$2,210
Property Tax -$431
Property Insurance -$78
Property Management Fees -$119
CASH FLOW
-$138

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.

$599,000

PROJECTED PRICE

$2,700

PROJECTED RENT

0.45%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.05%
Appreciation Year (1-5) 8.1%
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$500k$1.0M$1.5M$2.0M

PROJECTED ANNUAL CASH FLOW

11530-$5.0k$0.0$5.0k$10k$15k$20k$25k$30k

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$1.8M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$164,485

INVESTMENT

$164,485

Down Payment
$149,750
Rehab Estimate
$5,750
Closing Costs
$8,985

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,210

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $149,750
Loan Amount $449,250
See What Happens When You Reinvest Cash Flow

4.67

YEARS SAVED

$34,416

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,700

    LIST RENT
  • $1.03

    LIST RENT PER SQFT
  • $2,642

    COMP ESTIMATED VALUE
  • $1.01

    COMP AVG. RENT PER SQFT
Comps Range
$2,400
1$2,4002$2,4953$2,5954$2,6005$2,700
$2,700
RENT COMPS ANALYSIS
  • 948 Glenhaven Place Las Vegas, NV 5
    • 5 beds 5 baths ∙ 2,616 Sqft ∙ Built 2018 5 beds 5 baths ∙ 2,616 Sqft ∙ Built 2018
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,700
    • $1.03
    •  
  • 928 Tafalla Court Las Vegas, NV 1
    • 4 beds 3 baths ∙ 2,424 Sqft ∙ Built 2006 4 beds 3 baths ∙ 2,424 Sqft ∙ Built 2006
    property image
    LEASED 02/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,400
    • $0.99
    •  
  • 12109 Las Hurdes Avenue Las Vegas, NV 2
    • 4 beds 3 baths ∙ 2,424 Sqft ∙ Built 2005 4 beds 3 baths ∙ 2,424 Sqft ∙ Built 2005
    property image
    LEASED 10/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,495
    • $1.03
    •  
  • 860 Riverlawn Las Vegas, NV 3
    • 5 beds 5 baths ∙ 2,616 Sqft ∙ Built 2019 5 beds 5 baths ∙ 2,616 Sqft ∙ Built 2019
    property image
    LEASED 06/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,595
    • $0.99
    •  
  • 868 Riverlawn Place Las Vegas, NV 4
    • 5 beds 3 baths ∙ 2,519 Sqft ∙ Built 2019 5 beds 3 baths ∙ 2,519 Sqft ∙ Built 2019
    property image
    LEASED 03/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,600
    • $1.03
    •  
PROPERTY LISTING DETAILS
Mark D Wiley
1.702.499.1915
Keller Williams Realty Sw
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2254229
Last Updated: 12/12/2020
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