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300 Lakeview Drive Boulder City, NV 89005

3 Beds 1 Baths 999 sqft Built 1965

INVESTimate

$325,000

List Price

$1,040

$936 - $1,144

Rent Est.

$348,660  ( +7.28%)   1 YR EST. FORECAST

PROPERTY INFO

FACTS
  • Built In 1965
  • Price/Sqft : $325.33
  • 10 Days on Market
  • MLS # : 2222607
  • Updated Date : 08/17/2020 at 17:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 999 sqft
  • Baths : 1 full
Listing Agent

Marietta & Hays Real Estate

Listing Agent's Description

Your dreams will come true when you see this immaculate 3 bedroom, 1 bath single story home with a fireplace in Boulder City! Unbelievable kitchen freshly remodeled with top quality materials including cabinets, granite counters, tile wood look flooring and upgraded appliances. Show quality bathroom as well featuring upgraded fixtures and model home quality custom tile work. BONUS: solar is bought and paid for. Large lot with desert landscaping. Perfect for the buyer that appreciates the finer things in life!

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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

Zip Code: 89005

ZipNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340k360kPrice in $123k362k

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

Zip Code: 89005

ZipNIR Market*CityMarket2010Year20002019 Q211001200130014001500160017001800Rent in $10241875

* 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
Martha P. King Elementary School Primary Regular 427 23 8
Elton M. Garrett Junior High School Middle Regular 470 22 NA
Boulder City High School High Regular 618 31 8

Martha P. King Elementary School

  • Education Level: Primary
  • # of students: 427
  • # of teachers: 23
8
GreatSchools Rating

Elton M. Garrett Junior High School

  • Education Level: Middle
  • # of students: 470
  • # of teachers: 22
NA
GreatSchools Rating

Boulder City High School

  • Education Level: High
  • # of students: 618
  • # of teachers: 31
8
GreatSchools Rating
 

$292,500$357,500$325,000

PURCHASE PRICE

$936$1,144$1,040

RENT

DOWN PAYMENT
FINANCING

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

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

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,040
EXPENSES Loan Payment -$1,199
Property Tax -$91
Property Insurance -$47
Property Management Fees -$119
CASH FLOW
-$416

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.

$325,000

PROJECTED PRICE

$1,040

PROJECTED RENT

0.32%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.05%
Appreciation Year (1-5) 7.28%
Maintenance Year (1-5) 8.00%
Vacancy 7.57%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$91,875

INVESTMENT

$91,875

Down Payment
$81,250
Rehab Estimate
$5,750
Closing Costs
$4,875

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 65% down payment or higher enables the proceeds from the asset to cover all costs.

$1,199

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $81,250
Loan Amount $243,750
See What Happens When You Reinvest Cash Flow

0.67

YEARS SAVED

$1,037

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,040

    LIST RENT
  • $1.04

    LIST RENT PER SQFT
  • $1,049

    COMP ESTIMATED VALUE
  • $1.05

    COMP AVG. RENT PER SQFT
Comps Range
$1,040
1$1,0402$1,2503$1,2754$1,350
$1,350
RENT COMPS ANALYSIS
  • 300 Lakeview Drive Boulder City, NV 1
    • 3 beds 1 baths ∙ 999 Sqft ∙ Built 1965 3 beds 1 baths ∙ 999 Sqft ∙ Built 1965
    • Rent
    • Rent Per SQFT
    •  
    • $1,040
    • $1.04
    •  
  • 834 Benita Place Boulder City, NV 2
    • 3 beds 2 baths ∙ 1,333 Sqft ∙ Built 1972 3 beds 2 baths ∙ 1,333 Sqft ∙ Built 1972
    LEASED 07/23/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,250
    • $0.94
    •  
  • 528 Greenbriar Place #none Boulder City, NV 3
    • 3 beds 1 baths ∙ 1,172 Sqft ∙ Built 1973 3 beds 1 baths ∙ 1,172 Sqft ∙ Built 1973
    LEASED 05/08/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,275
    • $1.09
    •  
  • 848 Jeri Lane Boulder City, NV 4
    • 3 beds 2 baths ∙ 1,208 Sqft ∙ Built 1980 3 beds 2 baths ∙ 1,208 Sqft ∙ Built 1980
    LEASED 04/15/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,350
    • $1.12
    •  
PROPERTY LISTING DETAILS
Lawrence J Strychalski
1.702.277.9292
Marietta & Hays Real Estate
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2222607
Last Updated: 08/17/2020
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