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3008 Treasure Island Road Las Vegas, NV 89128

3 Beds 2 Baths 1,240 sqft Built 1988

INVESTimate

$285,000

List Price

$1,260

$1,134 - $1,386

Rent Est.

$309,225  ( +8.50%)   1 YR EST. FORECAST

PROPERTY INFO

August 24, 2020 RECENTLY ADDED
FACTS
  • Built In 1988
  • Price/Sqft : $229.84
  • 4 Days on Market
  • MLS # : 2224166
  • Updated Date : 08/24/2020 at 08:26
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,240 sqft
  • Baths : 2 full
Listing Agent

Urban Nest Realty

Listing Agent's Description

Single story and a massive Corner lot in the highly desired lake community of Desert Shores. This home is only 1/2 block to one of the 3 community lakes with beautiful sunset views. This home has been beautifully maintained and tastefully upgraded to satisfy even the pickiest of buyers. Large lots are are rare, but this corner location with privacy and limited neighbors is an absolute gem. This single story 3 bedroom, 2 bath home has an open functional floor plan. Scroll through the photos and schedule your showing today. Welcome home!!

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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: Desert Shores

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320k340k360kPrice in $119k362k

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

Neighborhood: Desert Shores

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2110012001300140015001600170018001900Rent in $10761945

* 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
Dorothy Eisenberg Elementary School Primary Regular 609 33 6
Ernest Becker Middle School Middle Regular 1,392 56 NA
Cimarron Memorial High School High Regular 2,541 102 3

Dorothy Eisenberg Elementary School

  • Education Level: Primary
  • # of students: 609
  • # of teachers: 33
6
GreatSchools Rating

Ernest Becker Middle School

  • Education Level: Middle
  • # of students: 1,392
  • # of teachers: 56
NA
GreatSchools Rating

Cimarron Memorial High School

  • Education Level: High
  • # of students: 2,541
  • # of teachers: 102
3
GreatSchools Rating
 

$256,500$313,500$285,000

PURCHASE PRICE

$1,134$1,386$1,260

RENT

DOWN PAYMENT
FINANCING

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

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

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,260
EXPENSES Loan Payment -$1,052
Property Tax -$158
Property Insurance -$51
HOA -$84
Property Management Fees -$119
CASH FLOW
-$204

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.

$285,000

PROJECTED PRICE

$1,260

PROJECTED RENT

0.44%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.05%
Appreciation Year (1-5) 8.50%
Maintenance Year (1-5) 8.00%
Vacancy 7.57%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$81,275

INVESTMENT

$81,275

Down Payment
$71,250
Rehab Estimate
$5,750
Closing Costs
$4,275

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 60% down payment or higher enables the proceeds from the asset to cover all costs.

$1,052

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $71,250
Loan Amount $213,750
See What Happens When You Reinvest Cash Flow

2.42

YEARS SAVED

$6,127

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,260

    LIST RENT
  • $1.02

    LIST RENT PER SQFT
  • $1,259

    COMP ESTIMATED VALUE
  • $1.02

    COMP AVG. RENT PER SQFT
Comps Range
$1,260
1$1,2602$1,3253$1,3994$1,4005$1,445
$1,445
RENT COMPS ANALYSIS
  • 3008 Treasure Island Road Las Vegas, NV 1
    • 3 beds 2 baths ∙ 1,240 Sqft ∙ Built 1988 3 beds 2 baths ∙ 1,240 Sqft ∙ Built 1988
    • Rent
    • Rent Per SQFT
    •  
    • $1,260
    • $1.02
    •  
  • 3333 Hillingdon Court Las Vegas, NV 2
    • 3 beds 2 baths ∙ 1,307 Sqft ∙ Built 1996 3 beds 2 baths ∙ 1,307 Sqft ∙ Built 1996
    LEASED 01/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,325
    • $1.01
    •  
  • 7837 Scammons Bay Las Vegas, NV 3
    • 3 beds 2 baths ∙ 1,348 Sqft ∙ Built 1995 3 beds 2 baths ∙ 1,348 Sqft ∙ Built 1995
    LEASED 06/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,399
    • $1.04
    •  
  • 3329 Epson Street Las Vegas, NV 4
    • 3 beds 2 baths ∙ 1,400 Sqft ∙ Built 1996 3 beds 2 baths ∙ 1,400 Sqft ∙ Built 1996
    LEASED 03/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,400
    • $1.00
    •  
  • 3464 Kapalua Bay Drive #0 Las Vegas, NV 5
    • 3 beds 2 baths ∙ 1,436 Sqft ∙ Built 1996 3 beds 2 baths ∙ 1,436 Sqft ∙ Built 1996
    LEASED 07/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,445
    • $1.01
    •  
PROPERTY LISTING DETAILS
Nick Nolf
1.702.714.0303
Urban Nest Realty
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2224166
Last Updated: 08/24/2020
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