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2992 San Blas Drive Las Vegas, NV 89120

4 Beds 3 Baths 2,838 sqft Built 1981

INVESTimate

$369,000

List Price

$1,890

$1,701 - $2,079

Rent Est.

$403,575  ( +9.37%)   1 YR EST. FORECAST

PROPERTY INFO

August 21, 2020 RECENTLY ADDED
FACTS
  • Built In 1981
  • Price/Sqft : $130.02
  • 6 Days on Market
  • MLS # : 2223407
  • Updated Date : 08/23/2020 at 21:04
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,838 sqft
  • Baths : 2 full , 1 half
Listing Agent

Re/max Advantage

Listing Agent's Description

Fabulous 4 bed, 3 car garage + covered carport home W/ a Lg. yard on a corner lot!! This home has all your wants!! Start at the covered front porch with beautiful glass & iron security doors & pebble stone coating, Bright & airy entrance W/ Cathedral Ceilings, quality wood laminate flooring in all the main areas downstairs, Lg. kitchen W/Dbl Wall ovens, gas cook top & ample storage, large walk in pantry, Eat in dining in addition to formal dining that can be used for office/school room etc....this room has a whole wall of built in storage. 2 separate family areas, one with a cozy gas fireplace & brick wall w/ built in shelving. Wet bar area off of family room, Lg. Laundry room W/ storage. Master bed is Lg. with a great walk- in closet, Mstr. bath has Dbl. Sinks & vanity area. All bedrooms are Large!! Beautiful back yard W/ grass & dreamy shade trees with a tire swing, Both side yards are wide, maybe for your garden? R-30 insulation & radiant barrier added to roof, LOW UTILITIES

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MARKET HIGHLIGHTS

  • 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)
  • As the largest share, Las Vegas metro contributes to 75.1% of Nevada state's economy i.e. Gross State Product (USMayors.org, 2018)

PRICE & RENT TRENDS

Neighborhood: Paradise

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280kPrice in $112k296k

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

Neighborhood: Paradise

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
Doris French Elementary School Primary Regular 447 25 8
Helen C. Cannon Middle School Middle Regular 867 39 NA
Del Sol High School High Regular 2,051 73 2

Doris French Elementary School

  • Education Level: Primary
  • # of students: 447
  • # of teachers: 25
8
GreatSchools Rating

Helen C. Cannon Middle School

  • Education Level: Middle
  • # of students: 867
  • # of teachers: 39
NA
GreatSchools Rating

Del Sol High School

  • Education Level: High
  • # of students: 2,051
  • # of teachers: 73
2
GreatSchools Rating
 

$332,100$405,900$369,000

PURCHASE PRICE

$1,701$2,079$1,890

RENT

DOWN PAYMENT
FINANCING

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,890
EXPENSES Loan Payment -$1,361
Property Tax -$205
Property Insurance -$82
Property Management Fees -$119
CASH FLOW
$122

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.

$369,000

PROJECTED PRICE

$1,890

PROJECTED RENT

0.51%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.96%
Appreciation Year (1-5) 9.37%
Maintenance Year (1-5) 8.00%
Vacancy 7.63%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$103,535

INVESTMENT

$103,535

Down Payment
$92,250
Rehab Estimate
$5,750
Closing Costs
$5,535

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 40% down payment or higher enables the proceeds from the asset to cover all costs.

$1,361

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $92,250
Loan Amount $276,750
See What Happens When You Reinvest Cash Flow

7.67

YEARS SAVED

$42,636

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,890

    LIST RENT
  • $0.67

    LIST RENT PER SQFT
  • $2,015

    COMP ESTIMATED VALUE
  • $0.71

    COMP AVG. RENT PER SQFT
Comps Range
$1,750
1$1,7502$1,8003$1,8504$1,8905$2,200
$2,200
RENT COMPS ANALYSIS
  • 2992 San Blas Drive Las Vegas, NV 4
    • 4 beds 3 baths ∙ 2,838 Sqft ∙ Built 1981 4 beds 3 baths ∙ 2,838 Sqft ∙ Built 1981
    • Rent
    • Rent Per SQFT
    •  
    • $1,890
    • $0.67
    •  
  • 3159 Desmond Avenue Las Vegas, NV 1
    • 3 beds 2 baths ∙ 2,834 Sqft ∙ Built 1975 3 beds 2 baths ∙ 2,834 Sqft ∙ Built 1975
    LEASED 12/31/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.62
    •  
  • 5617 Trooper Street North Las Vegas, NV 2
    • 4 beds 3 baths ∙ 2,548 Sqft ∙ Built 1978 4 beds 3 baths ∙ 2,548 Sqft ∙ Built 1978
    LEASED 09/10/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $0.71
    •  
  • 3468 Misty Court Las Vegas, NV 3
    • 4 beds 3 baths ∙ 2,548 Sqft ∙ Built 1978 4 beds 3 baths ∙ 2,548 Sqft ∙ Built 1978
    LEASED 12/16/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $0.73
    •  
  • 2988 Chapala Las Vegas, NV 5
    • 4 beds 3 baths ∙ 2,838 Sqft ∙ Built 1982 4 beds 3 baths ∙ 2,838 Sqft ∙ Built 1982
    LEASED 04/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $0.78
    •  
PROPERTY LISTING DETAILS
Tracy A Drown
1.702.245.9341
Re/max Advantage
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2223407
Last Updated: 08/23/2020
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