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3024 Waterview Drive Las Vegas, NV 89117

3 Beds 3 Baths 2,041 sqft Built 1986

$329,000

List Price

$1,960

$1.8K - $2.2K

Rent Est.

PROPERTY INFO

January 07, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1986
  • Price/Sqft : $161.20
  • 4 Days on Market
  • MLS # : 2260002
  • Updated Date : 01/07/2021 at 21:03
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,041 sqft
  • Baths : 2 full , 1 half
Listing Agent

Signature Real Estate Group

Listing Agent's Description

HANDYMAN SPECIAL! GREAT OPPORTUNITY! Fantastic over 2,000 home in The Lakes with so much potential.

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: West Sahara

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300kPrice in $119k308k

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

Neighborhood: West Sahara

NeighborhoodNIR Market*CityMarket2010Year20002019 Q211001150120012501300135014001450150015501600Rent in $10621618

* 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
 

$296,100$361,900$329,000

PURCHASE PRICE

$1,764$2,156$1,960

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,960
EXPENSES Loan Payment -$1,143
Property Tax -$207
Property Insurance -$67
Property Management Fees -$119
CASH FLOW
$424

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.

$329,000

PROJECTED PRICE

$1,960

PROJECTED RENT

0.60%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.96%
Appreciation Year (1-5) 10.0%
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$200k$400k$600k$800k$1.0M$1.2M$1.4M

PROJECTED ANNUAL CASH FLOW

11530$0.0$5.0k$10k$15k$20k$25k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$92,935

INVESTMENT

$92,935

Down Payment
$82,250
Rehab Estimate
$5,750
Closing Costs
$4,935

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 25% down payment or higher enables the proceeds from the asset to cover all costs.

$1,143

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $82,250
Loan Amount $246,750
See What Happens When You Reinvest Cash Flow

12.25

YEARS SAVED

$63,174

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,960

    LIST RENT
  • $0.96

    LIST RENT PER SQFT
  • $1,970

    COMP ESTIMATED VALUE
  • $0.97

    COMP AVG. RENT PER SQFT
Comps Range
$1,950
1$1,9502$1,9603$2,0004$2,0005$2,100
$2,100
RENT COMPS ANALYSIS
  • 3024 Waterview Drive Las Vegas, NV 2
    • 3 beds 3 baths ∙ 2,041 Sqft ∙ Built 1986 3 beds 3 baths ∙ 2,041 Sqft ∙ Built 1986
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,960
    • $0.96
    •  
  • 8908 Beach Front Drive Las Vegas, NV 1
    • 3 beds 3 baths ∙ 2,041 Sqft ∙ Built 1985 3 beds 3 baths ∙ 2,041 Sqft ∙ Built 1985
    property image
    LEASED 10/26/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $0.96
    •  
  • 3108 Waterview Drive Las Vegas, NV 3
    • 3 beds 3 baths ∙ 2,041 Sqft ∙ Built 1986 3 beds 3 baths ∙ 2,041 Sqft ∙ Built 1986
    property image
    LEASED 10/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $0.98
    •  
  • 2916 Pleasant Lake Drive Las Vegas, NV 4
    • 3 beds 3 baths ∙ 2,062 Sqft ∙ Built 1985 3 beds 3 baths ∙ 2,062 Sqft ∙ Built 1985
    property image
    LEASED 10/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $0.97
    •  
  • 2932 Domino Way Las Vegas, NV 5
    • 4 beds 2 baths ∙ 2,200 Sqft ∙ Built 1987 4 beds 2 baths ∙ 2,200 Sqft ∙ Built 1987
    property image
    LEASED 01/01/21
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $0.95
    •  
PROPERTY LISTING DETAILS
Cathy Zhu
1.626.715.3378
Signature Real Estate Group
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2260002
Last Updated: 01/07/2021
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