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216 Campbell Drive Las Vegas, NV 89107

4 Beds 3 Baths 3,584 sqft Built 1966

$780,000

List Price

$3,320

$3.1K - $3.6K

Rent Est.

PROPERTY INFO

FACTS
  • Single Family
  • Built In 1966
  • Price/Sqft : $217.63
  • 10 Days on Market
  • MLS # : 2255863
  • Updated Date : 12/24/2020 at 11:20
CONSTRUCTION
  • Beds : 4
  • Floor Size : 3,584 sqft
  • Baths : 2 full , 1 half
Listing Agent

Coldwell Banker Premier

Listing Agent's Description

Become the new owner of a historical residence previously owned by Las Vegas Sports Icon Lem Banker! With only one owner since the former model was built in 1967, this half acre estate is a rare find with a story to tell. The architecture is reminiscent of a mid-century era w/ sunlit master suite skylights, wood parquet floors, a grand brick fireplace, converted garage, circular driveway, lap size swimming pool, covered patio, & majestic palm trees. Homes in this guard gated historical neighborhood have been transformed into hybrids of old world Las Vegas & modern flair. Its hard to find the space the property offers, lot size, closet spaces, storage areas, and a driveway for multiple cars. 216 Campbell Drive is like a canvas palette waiting for your vision that thoughtfully celebrates its legacy in an updated fashion, whilst preserving its past. With a historically low supply of homes in our city, this is your rare opportunity to own a celebrity-status home in a vintage location!

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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: Rancho Nevada Estates

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450k500k550kPrice in $119k585k

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

Neighborhood: Rancho Nevada Estates

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2120014001600180020002200240026002800Rent in $10762846

* 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
 

$702,000$858,000$780,000

PURCHASE PRICE

$2,988$3,652$3,320

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,320
EXPENSES Loan Payment -$2,878
Property Tax -$339
Property Insurance -$97
Property Management Fees -$119
CASH FLOW
-$112

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.

$780,000

PROJECTED PRICE

$3,320

PROJECTED RENT

0.43%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.05%
Appreciation Year (1-5) 12.1%
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$2.5M$3.0M

PROJECTED ANNUAL CASH FLOW

11530$0.0$10k$20k$30k$40k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$500k$1.0M$1.5M$2.0M$2.5M$3.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$212,450

INVESTMENT

$212,450

Down Payment
$195,000
Rehab Estimate
$5,750
Closing Costs
$11,700

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,878

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $195,000
Loan Amount $585,000
See What Happens When You Reinvest Cash Flow

5.42

YEARS SAVED

$53,826

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,320

    LIST RENT
  • $0.93

    LIST RENT PER SQFT
  • $3,100

    COMP ESTIMATED VALUE
  • $0.87

    COMP AVG. RENT PER SQFT
Comps Range
$2,200
1$2,2002$3,3203$4,000
$4,000
RENT COMPS ANALYSIS
  • 216 Campbell Drive Las Vegas, NV 2
    • 4 beds 3 baths ∙ 3,584 Sqft ∙ Built 1966 4 beds 3 baths ∙ 3,584 Sqft ∙ Built 1966
    • Rent
    • Rent Per SQFT
    •  
    • $3,320
    • $0.93
    •  
  • 1901 Plaza De Cordero Las Vegas, NV 1
    • 3 beds 2 baths ∙ 3,301 Sqft ∙ Built 1978 3 beds 2 baths ∙ 3,301 Sqft ∙ Built 1978
    LEASED 03/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $0.67
    •  
  • 1111 Rancho Circle Las Vegas, NV 3
    • 3 beds 3 baths ∙ 3,769 Sqft ∙ Built 1957 3 beds 3 baths ∙ 3,769 Sqft ∙ Built 1957
    LEASED 07/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $4,000
    • $1.06
    •  
PROPERTY LISTING DETAILS
Diane M Varney
1.702.401.0307
Coldwell Banker Premier
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2255863
Last Updated: 12/24/2020
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