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2105 Westlund Drive Las Vegas, NV 89102

5 Beds 3 Baths 3,822 sqft Built 1965

$549,900

List Price

$2,710

$2.5K - $3K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 20, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1965
  • Price/Sqft : $143.88
  • 3 Days on Market
  • MLS # : 2280033
  • Updated Date : 03/20/2021 at 22:59
CONSTRUCTION
  • Beds : 5
  • Floor Size : 3,822 sqft
  • Baths : 3 full
Listing Agent

Platinum R.e. Professionals

Listing Agent's Description

Vintage Las Vegas living located on the historic Westlund Drive. Minutes from the strip and downtown. Beautiful front entrance. Guest quarters with separate entrance on main floor. Master Suite plus Jr. Master bedroom. Large secondary bedrooms. Formal living room with wood beams and crown molding. Separate family room with French doors to backyard. Historic solid wood doors and window frames plus stained glass windows imported from Spain. Large lot with grass front yard, covered patio and sparking pool!

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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)

PRICE & RENT TRENDS

Neighborhood: Rancho Oakey

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320kPrice in $119k339k

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

Neighborhood: Rancho Oakey

NeighborhoodNIR Market*CityMarket2010Year20002019 Q211001150120012501300135014001450150015501600165017001750Rent in $10761773

* 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
Howard Wasden Elementary School Primary Regular 632 36 3
Hyde Park Middle School Middle Magnet 1,699 69 NA
Ed W. Clark High School High Magnet 3,066 129 7

Howard Wasden Elementary School

  • Education Level: Primary
  • # of students: 632
  • # of teachers: 36
3
GreatSchools Rating

Hyde Park Middle School

  • Education Level: Middle
  • # of students: 1,699
  • # of teachers: 69
NA
GreatSchools Rating

Ed W. Clark High School

  • Education Level: High
  • # of students: 3,066
  • # of teachers: 129
7
GreatSchools Rating
 

$494,910$604,890$549,900

PURCHASE PRICE

$2,439$2,981$2,710

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,710
EXPENSES Loan Payment -$1,910
Property Tax -$224
Property Insurance -$101
Property Management Fees -$119
CASH FLOW
$356

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.

$549,900

PROJECTED PRICE

$2,710

PROJECTED RENT

0.49%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.96%
Appreciation Year (1-5) 9.6%
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$0.0$5.0k$10k$15k$20k$25k$30k$35k

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$151,474

INVESTMENT

$151,474

Down Payment
$137,475
Rehab Estimate
$5,750
Closing Costs
$8,249

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 35% down payment or higher enables the proceeds from the asset to cover all costs.

$1,910

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $137,475
Loan Amount $412,425
See What Happens When You Reinvest Cash Flow

9.42

YEARS SAVED

$72,408

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,710

    LIST RENT
  • $0.71

    LIST RENT PER SQFT
  • $2,656

    COMP ESTIMATED VALUE
  • $0.7

    COMP AVG. RENT PER SQFT
Comps Range
$2,710
1$2,7102$2,8003$2,850
$2,850
RENT COMPS ANALYSIS
  • 2105 Westlund Drive Las Vegas, NV 1
    • 5 beds 3 baths ∙ 3,822 Sqft ∙ Built 1965 5 beds 3 baths ∙ 3,822 Sqft ∙ Built 1965
    • Rent
    • Rent Per SQFT
    •  
    • $2,710
    • $0.71
    •  
  • 1601 Eaton Drive Las Vegas, NV 2
    • 5 beds 3 baths ∙ 4,094 Sqft ∙ Built 1972 5 beds 3 baths ∙ 4,094 Sqft ∙ Built 1972
    LEASED 10/01/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,800
    • $0.68
    •  
  • 2031 Bannie Avenue Las Vegas, NV 3
    • 6 beds 3 baths ∙ 4,023 Sqft ∙ Built 1962 6 beds 3 baths ∙ 4,023 Sqft ∙ Built 1962
    LEASED 08/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,850
    • $0.71
    •  
PROPERTY LISTING DETAILS
Anthony J Knight
1.702.545.0020
Platinum R.e. Professionals
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2280033
Last Updated: 03/20/2021
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