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3036 Pier Harbor Drive Las Vegas, NV 89117

4 Beds 2 Baths 3,135 sqft Built 1988

$495,000

List Price

$2,160

$1.9K - $2.4K

Rent Est.

PROPERTY INFO

October 30, 2020 RECENTLY ADDED
FACTS
  • Built In 1988
  • Price/Sqft : $157.89
  • 5 Days on Market
  • MLS # : 2243427
  • Updated Date : 10/30/2020 at 12:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 3,135 sqft
  • Baths : 2 full
Listing Agent

Heidel Realty

Listing Agent's Description

Gorgeous home in The Lakes! The gorgeous open kitchen features an island with breakfast, pantry, stainless steel appliances, pretty granite counter tops, tile back splash, and more! Large master bedroom suite boasts vaulted ceilings, double doors, and walk-in closet. The master bathroom has a separate shower and tub, double sinks, and make up/vanity area. Fabulous backyard has a sparkling pool and spa, covered patio, and built-in BBQ area. No rear neighbors! Other features of this incredible home include pretty wood floors downstairs, 3/4 bath downstairs, 3-car garage, fireplace in the family room, formal living and dining rooms, two-tone paint, laundry room with cabinets, double sinks in secondary bath, and more. This one is truly a must-see! Schedule your viewing today!

SEE MORE

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: 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
 

$445,500$544,500$495,000

PURCHASE PRICE

$1,944$2,376$2,160

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,160
EXPENSES Loan Payment -$1,826
Property Tax -$214
Property Insurance -$88
Property Management Fees -$119
CASH FLOW
-$87

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.

$495,000

PROJECTED PRICE

$2,160

PROJECTED RENT

0.44%

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$200k$400k$600k$800k$1.0M$1.2M$1.4M

PROJECTED ANNUAL CASH FLOW

11530-$5.0k$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$1.4M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$136,925

INVESTMENT

$136,925

Down Payment
$123,750
Rehab Estimate
$5,750
Closing Costs
$7,425

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 50% down payment or higher enables the proceeds from the asset to cover all costs.

$1,826

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $123,750
Loan Amount $371,250
See What Happens When You Reinvest Cash Flow

5.25

YEARS SAVED

$31,860

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,160

    LIST RENT
  • $0.69

    LIST RENT PER SQFT
  • $2,547

    COMP ESTIMATED VALUE
  • $0.81

    COMP AVG. RENT PER SQFT
Comps Range
$2,160
1$2,1602$2,2953$2,3504$2,4455$3,000
$3,000
RENT COMPS ANALYSIS
  • 3036 Pier Harbor Drive Las Vegas, NV 1
    • 4 beds 2 baths ∙ 3,135 Sqft ∙ Built 1988 4 beds 2 baths ∙ 3,135 Sqft ∙ Built 1988
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,160
    • $0.69
    •  
  • 2816 Quail Lakes Court Las Vegas, NV 2
    • 3 beds 3 baths ∙ 3,031 Sqft ∙ Built 1987 3 beds 3 baths ∙ 3,031 Sqft ∙ Built 1987
    property image
    LEASED 01/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,295
    • $0.76
    •  
  • 2732 Tidewater Court Las Vegas, NV 3
    • 5 beds 3 baths ∙ 3,107 Sqft ∙ Built 1988 5 beds 3 baths ∙ 3,107 Sqft ∙ Built 1988
    property image
    LEASED 12/17/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,350
    • $0.76
    •  
  • 8045 Mosaic Harbor Avenue Las Vegas, NV 4
    • 4 beds 3 baths ∙ 3,260 Sqft ∙ Built 2001 4 beds 3 baths ∙ 3,260 Sqft ∙ Built 2001
    property image
    LEASED 01/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,445
    • $0.75
    •  
  • 8705 Captains Place Las Vegas, NV 5
    • 3 beds 2 baths ∙ 3,052 Sqft ∙ Built 1985 3 beds 2 baths ∙ 3,052 Sqft ∙ Built 1985
    property image
    LEASED 11/08/19
    • Rent
    • Rent Per SQFT
    •  
    • $3,000
    • $0.98
    •  
PROPERTY LISTING DETAILS
Tamara Heidel
1.702.820.2200
Heidel Realty
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2243427
Last Updated: 10/30/2020
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