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3035 Lindell Road Las Vegas, NV 89146

4 Beds 4 Baths 2,372 sqft Built 1978

$799,000

List Price

$2,150

$1.9K - $2.4K

Rent Est.

PROPERTY INFO

FACTS
  • Built In 1978
  • Price/Sqft : $336.85
  • 11 Days on Market
  • MLS # : 2242173
  • Updated Date : 11/02/2020 at 09:13
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,372 sqft
  • Baths : 3 full , 1 half
Listing Agent

Smg Realty

Listing Agent's Description

This stunning & privately gated single-story retreat boasts a Spanish modern facade, custom designer finishes, the highest attention to detail and fully renovated. Designed by LA-based Celebrity Designer Julee Ireland. This open concept, 4 bedroom 3 1/2 bath home sits on 1/2 an acre. Interior features include professional-grade appliances, quartz & stone countertops, luxurious spa-like bathrooms, European windows, smart window in master ba, stacked sliding door, palatial kitchen island with seating, shaker cabinets, butlers/pantry, breathtaking bar, formal dining, fireplace, laundry room, dazzling lighting & hardware. An entertainer's dream with a pool, pickleball court, spacious patio, gorgeous urban garden. Prime location 10 minutes from the Las Vegas strip, close to freeways, shopping & award-winning Las Vegas Day School & Corner Stone School. Elaine Wynn Charter elementary & middle school, and Clark high school where Jimmy Kimmel attended. Truly an Oasis! This one won’t last!

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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

Neighborhood: Spring Valley

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280kPrice in $119k296k

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

Neighborhood: Spring Valley

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2105011001150120012501300135014001450150015501600Rent in $10381606

* 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
Dr C. Owen Roundy Elementary School Primary Regular 876 49 5
Kenny C. Guinn Middle School Middle Regular 820 40 NA
Ed W. Clark High School High Magnet 3,066 129 7

Dr C. Owen Roundy Elementary School

  • Education Level: Primary
  • # of students: 876
  • # of teachers: 49
5
GreatSchools Rating

Kenny C. Guinn Middle School

  • Education Level: Middle
  • # of students: 820
  • # of teachers: 40
NA
GreatSchools Rating

Ed W. Clark High School

  • Education Level: High
  • # of students: 3,066
  • # of teachers: 129
7
GreatSchools Rating
 

$719,100$878,900$799,000

PURCHASE PRICE

$1,935$2,365$2,150

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,150
EXPENSES Loan Payment -$2,948
Property Tax -$232
Property Insurance -$73
Property Management Fees -$119
CASH FLOW
-$1,222

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.

$799,000

PROJECTED PRICE

$2,150

PROJECTED RENT

0.27%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.96%
Appreciation Year (1-5) 9.9%
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$2.5M

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$2.5M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$217,485

INVESTMENT

$217,485

Down Payment
$199,750
Rehab Estimate
$5,750
Closing Costs
$11,985

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,948

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $199,750
Loan Amount $599,250
See What Happens When You Reinvest Cash Flow

0.25

YEARS SAVED

$186

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,150

    LIST RENT
  • $0.91

    LIST RENT PER SQFT
  • $2,164

    COMP ESTIMATED VALUE
  • $0.91

    COMP AVG. RENT PER SQFT
Comps Range
$1,895
1$1,8952$2,0553$2,1504$2,3005$2,300
$2,300
RENT COMPS ANALYSIS
  • 3035 Lindell Road Las Vegas, NV 3
    • 4 beds 4 baths ∙ 2,372 Sqft ∙ Built 1978 4 beds 4 baths ∙ 2,372 Sqft ∙ Built 1978
    • Rent
    • Rent Per SQFT
    •  
    • $2,150
    • $0.91
    •  
  • 3169 Pampas Place Las Vegas, NV 1
    • 5 beds 3 baths ∙ 2,163 Sqft ∙ Built 1979 5 beds 3 baths ∙ 2,163 Sqft ∙ Built 1979
    LEASED 07/24/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,895
    • $0.88
    •  
  • 2920 Sean Darin Las Vegas, NV 2
    • 4 beds 2 baths ∙ 2,377 Sqft ∙ Built 1988 4 beds 2 baths ∙ 2,377 Sqft ∙ Built 1988
    LEASED 06/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,055
    • $0.86
    •  
  • 2925 Torrey Pines Drive Las Vegas, NV 4
    • 3 beds 2 baths ∙ 2,331 Sqft ∙ Built 1978 3 beds 2 baths ∙ 2,331 Sqft ∙ Built 1978
    LEASED 08/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $0.99
    •  
  • 2756 Potosi Street Las Vegas, NV 5
    • 4 beds 2 baths ∙ 2,490 Sqft ∙ Built 1959 4 beds 2 baths ∙ 2,490 Sqft ∙ Built 1959
    LEASED 10/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $0.92
    •  
PROPERTY LISTING DETAILS
Peter J Arroyo
1.702.683.7383
Smg Realty
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2242173
Last Updated: 11/02/2020
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