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3020 Tanagrine Drive North Las Vegas, NV 89084

3 Beds 3 Baths 2,576 sqft Built 2004

$440,000

List Price

$1,790

$1.6K - $2K

Rent Est.

PROPERTY INFO

November 21, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2004
  • Price/Sqft : $170.81
  • 2 Days on Market
  • MLS # : 2249474
  • Updated Date : 11/21/2020 at 14:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,576 sqft
  • Baths : 3 full
Listing Agent

Platinum R.e. Professionals

Listing Agent's Description

WHOA NELLY SUPER RARE ONE STORY 3 CAR GARAGE ON HUGE LOT IN LAS VEGAS UNDER 500K! THOUSANDS IN UPGRADES! THIS IS ONE THE MOST POPULAR FLOOR PLANS EVER BUILT IN LAS VEGAS! Beautiful entry way leads you to nice open floor plan with high vaulted ceilings feels much bigger than footage. Gourmet like kitchen with upgraded cabinets and overlooks the entertainment room, perfect for surround and parties. Take a stroll out back and create your own mini oasis with covered patio and huge lot. The master can be your own mini penthouse, custom shelving in huge walk in closet plus spa like master bathroom. Large secondary rooms. A CALIFORNIA EXODUS FAVORITE! DONT DELAY CLICK TODAY

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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: Aliante

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320k340k360kPrice in $110k362k

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

Neighborhood: Aliante

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21000110012001300140015001600170018001900Rent in $9671963

* 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
Theron And Naomi Goynes Elementary School Primary Regular 896 41 7
Brian And Teri Cram Middle School Middle Regular 1,568 65 NA
Legacy High School High Regular 2,819 119 3

Theron And Naomi Goynes Elementary School

  • Education Level: Primary
  • # of students: 896
  • # of teachers: 41
7
GreatSchools Rating

Brian And Teri Cram Middle School

  • Education Level: Middle
  • # of students: 1,568
  • # of teachers: 65
NA
GreatSchools Rating

Legacy High School

  • Education Level: High
  • # of students: 2,819
  • # of teachers: 119
3
GreatSchools Rating
 

$396,000$484,000$440,000

PURCHASE PRICE

$1,611$1,969$1,790

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,790
EXPENSES Loan Payment -$1,623
Property Tax -$347
Property Insurance -$77
Property Management Fees -$119
CASH FLOW
-$376

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.

$440,000

PROJECTED PRICE

$1,790

PROJECTED RENT

0.41%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.05%
Appreciation Year (1-5) 9.2%
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$1.2M$1.4M

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$122,350

INVESTMENT

$122,350

Down Payment
$110,000
Rehab Estimate
$5,750
Closing Costs
$6,600

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,623

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $110,000
Loan Amount $330,000
See What Happens When You Reinvest Cash Flow

1.75

YEARS SAVED

$5,918

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,790

    LIST RENT
  • $0.69

    LIST RENT PER SQFT
  • $2,009

    COMP ESTIMATED VALUE
  • $0.78

    COMP AVG. RENT PER SQFT
Comps Range
$1,790
1$1,7902$1,8003$1,8954$2,0005$2,300
$2,300
RENT COMPS ANALYSIS
  • 3020 Tanagrine Drive North Las Vegas, NV 1
    • 3 beds 3 baths ∙ 2,576 Sqft ∙ Built 2004 3 beds 3 baths ∙ 2,576 Sqft ∙ Built 2004
    • Rent
    • Rent Per SQFT
    •  
    • $1,790
    • $0.69
    •  
  • 3628 Pelican Brief Lane #0 North Las Vegas, NV 2
    • 4 beds 3 baths ∙ 2,392 Sqft ∙ Built 2008 4 beds 3 baths ∙ 2,392 Sqft ∙ Built 2008
    LEASED 06/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $0.75
    •  
  • 6704 Tumbler North Las Vegas, NV 3
    • 4 beds 3 baths ∙ 2,576 Sqft ∙ Built 2003 4 beds 3 baths ∙ 2,576 Sqft ∙ Built 2003
    LEASED 06/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,895
    • $0.74
    •  
  • 2816 Tanagrine Drive North Las Vegas, NV 4
    • 4 beds 3 baths ∙ 2,562 Sqft ∙ Built 2005 4 beds 3 baths ∙ 2,562 Sqft ∙ Built 2005
    LEASED 08/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $0.78
    •  
  • 2812 Tropicbird Drive North Las Vegas, NV 5
    • 3 beds 2 baths ∙ 2,714 Sqft ∙ Built 2004 3 beds 2 baths ∙ 2,714 Sqft ∙ Built 2004
    LEASED 10/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $0.85
    •  
PROPERTY LISTING DETAILS
Steve P Hawks
1.702.617.4637
Platinum R.e. Professionals
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2249474
Last Updated: 11/21/2020
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