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2958 Lawndale Street Las Vegas, NV 89121

3 Beds 1 Baths 910 sqft Built 1963

$215,000

List Price

$1,010

$909 - $1.1K

Rent Est.

PROPERTY INFO

January 22, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1963
  • Price/Sqft : $236.26
  • 3 Days on Market
  • MLS # : 2263589
  • Updated Date : 01/22/2021 at 21:30
CONSTRUCTION
  • Beds : 3
  • Floor Size : 910 sqft
  • Baths : 1 full
Listing Agent

Re/max One

Listing Agent's Description

CHARMING & MOVE IN READY! EASY ACCESS TO FWY 95, SHOPPING CENTERS EVEN CASINOS! NEUTRAL COLORS GIVE THIS HOME A GREAT MODERN LOOK W/ GRAY TILE FLOORING, KITCHEN FEATURES SLEEK STAINLESS STEEL APPLIANCES WITH BEAUTIFUL MOSAIC WINDOW. HUGE BACKYARD WITH COVERED AND LIGHTED CAR PORT. LARGE CORNER LOT WITH POSSIBILITY OF RV/BOAT PARKING. MUST SEE BEFORE ITS GONE!

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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)

PRICE & RENT TRENDS

Neighborhood: Sunrise Manor

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260k280kPrice in $83k296k

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

Neighborhood: Sunrise Manor

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21000105011001150120012501300135014001450150015501600Rent in $9591603

* 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
Laura Dearing Elementary School Primary Regular 770 47 4
Jerome Mack Middle School Middle Regular 1,275 56 NA
Chaparral High School High Regular 2,270 87 3

Laura Dearing Elementary School

  • Education Level: Primary
  • # of students: 770
  • # of teachers: 47
4
GreatSchools Rating

Jerome Mack Middle School

  • Education Level: Middle
  • # of students: 1,275
  • # of teachers: 56
NA
GreatSchools Rating

Chaparral High School

  • Education Level: High
  • # of students: 2,270
  • # of teachers: 87
3
GreatSchools Rating
 

$193,500$236,500$215,000

PURCHASE PRICE

$909$1,111$1,010

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,010
EXPENSES Loan Payment -$747
Property Tax -$78
Property Insurance -$45
Property Management Fees -$119
CASH FLOW
$21

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 17% of earned rent to cover both maintenance and periods of vacancy.

$215,000

PROJECTED PRICE

$1,010

PROJECTED RENT

0.47%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.75%
Appreciation Year (1-5) 12.8%
Maintenance Year (1-5) 8.00%
Vacancy 8.50%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$200k$400k$600k$800k

PROJECTED ANNUAL CASH FLOW

11530-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k$700k$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$62,725

INVESTMENT

$62,725

Down Payment
$53,750
Rehab Estimate
$5,750
Closing Costs
$3,225

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 45% down payment or higher enables the proceeds from the asset to cover all costs.

$747

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $53,750
Loan Amount $161,250
See What Happens When You Reinvest Cash Flow

6.33

YEARS SAVED

$15,005

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,010

    LIST RENT
  • $1.11

    LIST RENT PER SQFT
  • $887

    COMP ESTIMATED VALUE
  • $0.98

    COMP AVG. RENT PER SQFT
Comps Range
$995
1$9952$1,0003$1,0104$1,1005$1,295
$1,295
RENT COMPS ANALYSIS
  • 2958 Lawndale Street Las Vegas, NV 3
    • 3 beds 1 baths ∙ 910 Sqft ∙ Built 1963 3 beds 1 baths ∙ 910 Sqft ∙ Built 1963
    • Rent
    • Rent Per SQFT
    •  
    • $1,010
    • $1.11
    •  
  • 3547 Markam Street Las Vegas, NV 1
    • 3 beds 1 baths ∙ 1,130 Sqft ∙ Built 1963 3 beds 1 baths ∙ 1,130 Sqft ∙ Built 1963
    LEASED 09/12/19
    • Rent
    • Rent Per SQFT
    •  
    • $995
    • $0.88
    •  
  • 4333 Ridgedale Las Vegas, NV 2
    • 3 beds 1 baths ∙ 954 Sqft ∙ Built 1962 3 beds 1 baths ∙ 954 Sqft ∙ Built 1962
    LEASED 05/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,000
    • $1.05
    •  
  • 227 Greenbriar Townhouse Las Vegas, NV 4
    • 3 beds 2 baths ∙ 1,232 Sqft ∙ Built 1969 3 beds 2 baths ∙ 1,232 Sqft ∙ Built 1969
    LEASED 05/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,100
    • $0.89
    •  
  • 3541 Anthony Drive #0 Las Vegas, NV 5
    • 4 beds 2 baths ∙ 1,200 Sqft ∙ Built 1971 4 beds 2 baths ∙ 1,200 Sqft ∙ Built 1971
    LEASED 07/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,295
    • $1.08
    •  
PROPERTY LISTING DETAILS
Tony Espinoza
1.702.497.8066
Re/max One
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2263589
Last Updated: 01/22/2021
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