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9987 Glowing Forge Court Las Vegas, NV 89183

5 Beds 3 Baths 2,968 sqft Built 2000

$598,000

List Price

$2,440

$2.2K - $2.7K

Rent Est.

PROPERTY INFO

December 11, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2000
  • Price/Sqft : $201.48
  • 3 Days on Market
  • MLS # : 2255143
  • Updated Date : 12/11/2020 at 13:30
CONSTRUCTION
  • Beds : 5
  • Floor Size : 2,968 sqft
  • Baths : 3 full
Listing Agent

Advent Realty Group Llc

Listing Agent's Description

STUNNING ONE OF A KIND HOME!!! This home has spared no expense in interior design! High ceilings as you enter the home with gorgeous living area which steps into a gorgeous dining room. Kitchen is fully updated with white cabinets, led lighting, quartz counter tops, waterfall island, tile backsplash and modern stainless steel appliances. Gorgeous family room with modern porcelain flooring and dark stone fireplace. Downstairs bedroom on 1st level and bathroom with upgraded cabinets and designer shower with waterfall tile and led lighting mirror. All wood flooring upstairs NO CARPET! Top of the line ceiling fans with Bluetooth for music in bedrooms. Master bedroom has an absolutely stunning shower with soaking tub for those long day relaxing baths! Led lighting and lighted mirrors with upgraded cabinets. Backyard offers an entertaining area with relaxing pool and spa, covered patio, ceiling fans and lighting! BUY THIS HOME AND GET YOUR CURRENT HOME LISTED FOR FREE! CALL FOR DETAILS.

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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

Neighborhood: Silverado Ranch

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300kPrice in $119k305k

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

Neighborhood: Silverado Ranch

NeighborhoodNIR Market*CityMarket2010Year20002019 Q211001150120012501300135014001450150015501600Rent in $10761606

* 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
Shirley A. Barber Elementary Primary Unknown NA
Charles Silvestri Junior High School Middle Regular 1,748 68 NA
Liberty High School High Regular 2,496 105 5

Shirley A. Barber Elementary

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

Charles Silvestri Junior High School

  • Education Level: Middle
  • # of students: 1,748
  • # of teachers: 68
NA
GreatSchools Rating

Liberty High School

  • Education Level: High
  • # of students: 2,496
  • # of teachers: 105
5
GreatSchools Rating
 

$538,200$657,800$598,000

PURCHASE PRICE

$2,196$2,684$2,440

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,440
EXPENSES Loan Payment -$2,206
Property Tax -$332
Property Insurance -$85
Property Management Fees -$119
CASH FLOW
-$302

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.

$598,000

PROJECTED PRICE

$2,440

PROJECTED RENT

0.41%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.96%
Appreciation Year (1-5) 10.2%
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$500k$1.0M$1.5M$2.0M

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$500k$1.0M$1.5M$2.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$164,220

INVESTMENT

$164,220

Down Payment
$149,500
Rehab Estimate
$5,750
Closing Costs
$8,970

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,206

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $149,500
Loan Amount $448,500
See What Happens When You Reinvest Cash Flow

3.5

YEARS SAVED

$21,071

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,440

    LIST RENT
  • $0.82

    LIST RENT PER SQFT
  • $2,412

    COMP ESTIMATED VALUE
  • $0.81

    COMP AVG. RENT PER SQFT
Comps Range
$2,150
1$2,1502$2,3003$2,4404$2,4955$2,700
$2,700
RENT COMPS ANALYSIS
  • 9987 Glowing Forge Court Las Vegas, NV 3
    • 5 beds 3 baths ∙ 2,968 Sqft ∙ Built 2000 5 beds 3 baths ∙ 2,968 Sqft ∙ Built 2000
    • Rent
    • Rent Per SQFT
    •  
    • $2,440
    • $0.82
    •  
  • 1485 Falling Snow Avenue Las Vegas, NV 1
    • 5 beds 3 baths ∙ 2,982 Sqft ∙ Built 2000 5 beds 3 baths ∙ 2,982 Sqft ∙ Built 2000
    LEASED 02/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,150
    • $0.72
    •  
  • 1781 Sweet Pea Avenue Las Vegas, NV 2
    • 5 beds 2 baths ∙ 2,982 Sqft ∙ Built 2001 5 beds 2 baths ∙ 2,982 Sqft ∙ Built 2001
    LEASED 10/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $0.77
    •  
  • 1584 Glassy Pond Avenue Las Vegas, NV 4
    • 5 beds 2 baths ∙ 2,982 Sqft ∙ Built 2000 5 beds 2 baths ∙ 2,982 Sqft ∙ Built 2000
    LEASED 10/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,495
    • $0.84
    •  
  • 1682 Tassel Fern Las Vegas, NV 5
    • 4 beds 3 baths ∙ 2,943 Sqft ∙ Built 2001 4 beds 3 baths ∙ 2,943 Sqft ∙ Built 2001
    LEASED 06/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,700
    • $0.92
    •  
PROPERTY LISTING DETAILS
Antonio Gastelum
1.702.622.7601
Advent Realty Group Llc
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2255143
Last Updated: 12/11/2020
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