Work with a dedicated Real Estate Advisor who will take your financial preferences and help you select and acquire properties that fit your criteria. Learn more

1247 Tamarisk Lane Boulder City, NV 89005

4 Beds 3 Baths 3,005 sqft Built 1988

$849,000

List Price

$2,670

$2.4K - $2.9K

Rent Est.

PROPERTY INFO

December 23, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1988
  • Price/Sqft : $282.53
  • 5 Days on Market
  • MLS # : 2257422
  • Updated Date : 12/24/2020 at 11:24
CONSTRUCTION
  • Beds : 4
  • Floor Size : 3,005 sqft
  • Baths : 2 full , 1 half
Listing Agent

Simply Vegas

Listing Agent's Description

AMAZING LAKE VIEWS, w/3 CAR + 42 ft. MOTORHOME GARAGE. This fantastic, custom built, 0.4 acre, 4BD, 3.5BA Boulder City home is the perfect find. Open floorplan offers 3005 total sq. ft of functional, spacious, single-story living area. Home sits above garage areas to maximize unobstructed lake/mountain/city views from every room. Situated on a quiet street w/great curb appeal, it feels like its own get-away. Everything is upgraded & is in move-in ready condition. Interior features vaulted ceilings, new neutral paint throughout, wood flooring, large great room, adjoining dining room & separate living room. Center island granite kitchen, upgraded bathroom features, built-in office system & custom window treatments. Oversized 3-car garage w/large work & storage areas, water treatment system. 42Lx14Wx13H motorhome garage w/50-amp power. Exterior features open spaces, privacy, dual driveways, top deck entertainment/BBQ area w/amazing views & covered rear patio deck. Visit 3D virtual tour.

SEE MORE

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: 89005

ZipNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340k360kPrice in $123k362k

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

Zip Code: 89005

ZipNIR Market*CityMarket2010Year20002019 Q211001200130014001500160017001800Rent in $10241875

* 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
Martha P. King Elementary School Primary Regular 427 23 8
Elton M. Garrett Junior High School Middle Regular 470 22 NA
Boulder City High School High Regular 618 31 8

Martha P. King Elementary School

  • Education Level: Primary
  • # of students: 427
  • # of teachers: 23
8
GreatSchools Rating

Elton M. Garrett Junior High School

  • Education Level: Middle
  • # of students: 470
  • # of teachers: 22
NA
GreatSchools Rating

Boulder City High School

  • Education Level: High
  • # of students: 618
  • # of teachers: 31
8
GreatSchools Rating
 

$764,100$933,900$849,000

PURCHASE PRICE

$2,403$2,937$2,670

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,670
EXPENSES Loan Payment -$3,132
Property Tax -$394
Property Insurance -$85
Property Management Fees -$119
CASH FLOW
-$1,061

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.

$849,000

PROJECTED PRICE

$2,670

PROJECTED RENT

0.31%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.05%
Appreciation Year (1-5) 7.3%
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$500k$1.0M$1.5M$2.0M$2.5M

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$500k$1.0M$1.5M$2.0M$2.5M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$230,735

INVESTMENT

$230,735

Down Payment
$212,250
Rehab Estimate
$5,750
Closing Costs
$12,735

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 65% down payment or higher enables the proceeds from the asset to cover all costs.

$3,132

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $212,250
Loan Amount $636,750
See What Happens When You Reinvest Cash Flow

0.58

YEARS SAVED

$1,933

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,670

    LIST RENT
  • $0.89

    LIST RENT PER SQFT
  • $2,682

    COMP ESTIMATED VALUE
  • $0.89

    COMP AVG. RENT PER SQFT
Comps Range
$2,300
1$2,3002$2,5003$2,5504$2,6705$2,750
$2,750
RENT COMPS ANALYSIS
  • 1247 Tamarisk Lane Boulder City, NV 4
    • 4 beds 3 baths ∙ 3,005 Sqft ∙ Built 1988 4 beds 3 baths ∙ 3,005 Sqft ∙ Built 1988
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,670
    • $0.89
    •  
  • 680 Blue Lake Court Boulder City, NV 1
    • 3 beds 2 baths ∙ 2,656 Sqft ∙ Built 2001 3 beds 2 baths ∙ 2,656 Sqft ∙ Built 2001
    property image
    LEASED 07/30/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $0.87
    •  
  • 1544 Mancha Drive Boulder City, NV 2
    • 3 beds 3 baths ∙ 3,098 Sqft ∙ Built 1977 3 beds 3 baths ∙ 3,098 Sqft ∙ Built 1977
    property image
    LEASED 11/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $0.81
    •  
  • 305 Barcelona Boulder City, NV 3
    • 4 beds 2 baths ∙ 2,693 Sqft ∙ Built 1998 4 beds 2 baths ∙ 2,693 Sqft ∙ Built 1998
    property image
    LEASED 04/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,550
    • $0.95
    •  
  • 116 Stone Canyon Road Boulder City, NV 5
    • 4 beds 3 baths ∙ 2,922 Sqft ∙ Built 2005 4 beds 3 baths ∙ 2,922 Sqft ∙ Built 2005
    property image
    LEASED 02/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,750
    • $0.94
    •  
PROPERTY LISTING DETAILS
Lisa Schmidt
1.702.612.3047
Simply Vegas
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2257422
Last Updated: 12/24/2020
BESbswy