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30 Desert Palm Drive Las Vegas, NV 89183

3 Beds 3 Baths 1,690 sqft Built 2007

$299,900

List Price

$1,410

$1.3K - $1.6K

Rent Est.

PROPERTY INFO

FACTS
  • Single Family
  • Built In 2007
  • Price/Sqft : $177.46
  • 9 Days on Market
  • MLS # : 2246825
  • Updated Date : 11/13/2020 at 01:50
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,690 sqft
  • Baths : 2 full , 1 half
Listing Agent

Realty One Group, Inc

Listing Agent's Description

Nice 3 bedrooms home near M Resort Casino and South Point Casino*** Tile flooring throughout the 1st floor**** Den downstairs can be 4th bedroom (no closet)*** Kitchen with breakfast bar*** Large Primary bedroom upstairs have balcony with mountain and city views*** Primary bathroom with double sink, tub and separate shower*** Back yard with covered patio and fruit trees*** Surveilance in the house will be conveyed with the property*** Refrigerator and washer/dryer included "AS IS"*** Buyer and buyer's agent to verify all info.

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: Enterprise

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320k340k360kPrice in $119k362k

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

Neighborhood: Enterprise

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2100011001200130014001500160017001800Rent in $9981875

* 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
Steve Schorr Elementary School Primary Regular 1,042 54 7
Del E Webb Middle School Middle Regular 1,863 74 NA
Liberty High School High Regular 2,496 105 5

Steve Schorr Elementary School

  • Education Level: Primary
  • # of students: 1,042
  • # of teachers: 54
7
GreatSchools Rating

Del E Webb Middle School

  • Education Level: Middle
  • # of students: 1,863
  • # of teachers: 74
NA
GreatSchools Rating

Liberty High School

  • Education Level: High
  • # of students: 2,496
  • # of teachers: 105
5
GreatSchools Rating
 

$269,910$329,890$299,900

PURCHASE PRICE

$1,269$1,551$1,410

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,410
EXPENSES Loan Payment -$1,107
Property Tax -$220
Property Insurance -$60
Property Management Fees -$119
CASH FLOW
-$96

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.

$299,900

PROJECTED PRICE

$1,410

PROJECTED RENT

0.47%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.05%
Appreciation Year (1-5) 9.8%
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$200k$400k$600k$800k$1.0M

PROJECTED ANNUAL CASH FLOW

11530-$4.0k-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$85,224

INVESTMENT

$85,224

Down Payment
$74,975
Rehab Estimate
$5,750
Closing Costs
$4,499

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$1,107

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $74,975
Loan Amount $224,925
See What Happens When You Reinvest Cash Flow

4.42

YEARS SAVED

$15,201

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,410

    LIST RENT
  • $0.83

    LIST RENT PER SQFT
  • $1,529

    COMP ESTIMATED VALUE
  • $0.91

    COMP AVG. RENT PER SQFT
Comps Range
$1,375
1$1,3752$1,4103$1,4504$1,4505$1,600
$1,600
RENT COMPS ANALYSIS
  • 30 Desert Palm Drive Las Vegas, NV 2
    • 3 beds 3 baths ∙ 1,690 Sqft ∙ Built 2007 3 beds 3 baths ∙ 1,690 Sqft ∙ Built 2007
    • Rent
    • Rent Per SQFT
    •  
    • $1,410
    • $0.83
    •  
  • 11882 Snow Bank Street Las Vegas, NV 1
    • 3 beds 3 baths ∙ 1,550 Sqft ∙ Built 2006 3 beds 3 baths ∙ 1,550 Sqft ∙ Built 2006
    LEASED 06/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,375
    • $0.89
    •  
  • 32 Belden Avenue Las Vegas, NV 3
    • 3 beds 3 baths ∙ 1,599 Sqft ∙ Built 2007 3 beds 3 baths ∙ 1,599 Sqft ∙ Built 2007
    LEASED 02/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $0.91
    •  
  • 37 Belden Avenue Las Vegas, NV 4
    • 3 beds 3 baths ∙ 1,620 Sqft ∙ Built 2007 3 beds 3 baths ∙ 1,620 Sqft ∙ Built 2007
    LEASED 03/25/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $0.90
    •  
  • 11906 Snow Bank Street #0 Las Vegas, NV 5
    • 3 beds 3 baths ∙ 1,741 Sqft ∙ Built 2006 3 beds 3 baths ∙ 1,741 Sqft ∙ Built 2006
    LEASED 06/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $0.92
    •  
PROPERTY LISTING DETAILS
Sue T Kamjorn
1.702.279.8531
Realty One Group, Inc
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2246825
Last Updated: 11/13/2020
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