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3017 Misty Harbour Drive Las Vegas, NV 89117

4 Beds 2 Baths 2,375 sqft Built 1989

$825,000

List Price

$2,260

$2K - $2.5K

Rent Est.

PROPERTY INFO

November 22, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1989
  • Price/Sqft : $347.37
  • 2 Days on Market
  • MLS # : 2244596
  • Updated Date : 11/21/2020 at 18:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,375 sqft
  • Baths : 2 full
Listing Agent

Dolly Realty

Listing Agent's Description

Lakefront Home with expansive mountain and lake views. Included is a personal boat dock. Within very close proximity of the strip for access to local eateries and shops. Great open floor plan instated with fireplaces and balconies.

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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)

PRICE & RENT TRENDS

Neighborhood: The Lakes

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450k500kPrice in $119k550k

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

Neighborhood: The Lakes

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2110012001300140015001600170018001900200021002200230024002500Rent in $10762504

* 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
M.j. Christensen Elementary School Primary Regular 615 34 6
Lawrence Junior High School Middle Regular 1,421 61 NA
Spring Valley High School High Regular 1,925 79 4

M.j. Christensen Elementary School

  • Education Level: Primary
  • # of students: 615
  • # of teachers: 34
6
GreatSchools Rating

Lawrence Junior High School

  • Education Level: Middle
  • # of students: 1,421
  • # of teachers: 61
NA
GreatSchools Rating

Spring Valley High School

  • Education Level: High
  • # of students: 1,925
  • # of teachers: 79
4
GreatSchools Rating
 

$742,500$907,500$825,000

PURCHASE PRICE

$2,034$2,486$2,260

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,260
EXPENSES Loan Payment -$3,044
Property Tax -$299
Property Insurance -$73
Property Management Fees -$119
CASH FLOW
-$1,275

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.

$825,000

PROJECTED PRICE

$2,260

PROJECTED RENT

0.27%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.96%
Appreciation Year (1-5) 5.0%
Maintenance Year (1-5) 8.00%
Vacancy 7.63%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$500k$1.0M$1.5M$2.0M

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$500k$1.0M$1.5M$2.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$224,375

INVESTMENT

$224,375

Down Payment
$206,250
Rehab Estimate
$5,750
Closing Costs
$12,375

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 70% down payment or higher enables the proceeds from the asset to cover all costs.

$3,044

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $206,250
Loan Amount $618,750
See What Happens When You Reinvest Cash Flow

0.25

YEARS SAVED

$173

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,260

    LIST RENT
  • $0.95

    LIST RENT PER SQFT
  • $1,936

    COMP ESTIMATED VALUE
  • $0.82

    COMP AVG. RENT PER SQFT
Comps Range
$1,800
1$1,8002$1,8603$1,9004$2,0005$2,260
$2,260
RENT COMPS ANALYSIS
  • 3017 Misty Harbour Drive Las Vegas, NV 5
    • 4 beds 2 baths ∙ 2,375 Sqft ∙ Built 1989 4 beds 2 baths ∙ 2,375 Sqft ∙ Built 1989
    • Rent
    • Rent Per SQFT
    •  
    • $2,260
    • $0.95
    •  
  • 3415 Evening Sun Las Vegas, NV 1
    • 4 beds 2 baths ∙ 2,412 Sqft ∙ Built 1991 4 beds 2 baths ∙ 2,412 Sqft ∙ Built 1991
    LEASED 06/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $0.75
    •  
  • 3096 Maple Valley Street Las Vegas, NV 2
    • 4 beds 3 baths ∙ 2,348 Sqft ∙ Built 2000 4 beds 3 baths ∙ 2,348 Sqft ∙ Built 2000
    LEASED 09/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,860
    • $0.79
    •  
  • 2255 Autumn Fire Court Las Vegas, NV 3
    • 4 beds 3 baths ∙ 2,183 Sqft ∙ Built 2007 4 beds 3 baths ∙ 2,183 Sqft ∙ Built 2007
    LEASED 07/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,900
    • $0.87
    •  
  • 3105 Sea View Court Las Vegas, NV 4
    • 4 beds 3 baths ∙ 2,356 Sqft ∙ Built 1985 4 beds 3 baths ∙ 2,356 Sqft ∙ Built 1985
    LEASED 09/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $0.85
    •  
PROPERTY LISTING DETAILS
Dolly Yau
1.626.255.7788
Dolly Realty
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2244596
Last Updated: 11/21/2020
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