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3040 Lawndale Street Las Vegas, NV 89121

3 Beds 2 Baths 1,713 sqft Built 1963

$255,000

List Price

$1,480

$1.3K - $1.6K

Rent Est.

PROPERTY INFO

December 05, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1963
  • Price/Sqft : $148.86
  • 2 Days on Market
  • MLS # : 2253736
  • Updated Date : 12/05/2020 at 12:30
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,713 sqft
  • Baths : 2 full
Listing Agent

Tri-star Realty Llc

Listing Agent's Description

Single Story 3 bedroom 2 bath home on a Large Lot over 6,000 sqft plus a Garage! Beautiful Curb Appeal, Bright and Open floorplan, Gorgeous Kitchen with Granite Countertops, Appliances Included, Remodeled Bathrooms, Spacious Bedrooms, Tile throughout main living areas, Dual-Pane Windows, Solar Panels Leased for low monthly bills, Pool Sized Backyard, Few Minute walk to the Parkdale Recreation Center with Community Park & Pool, NO HOA, Quiet neighborhood, centrally located, near freeway, schools and shopping. Don't miss this Opportunity!

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: Sunrise Manor

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260k280kPrice in $83k296k

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

Neighborhood: Sunrise Manor

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21000105011001150120012501300135014001450150015501600Rent in $9591603

* 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
Laura Dearing Elementary School Primary Regular 770 47 4
Jerome Mack Middle School Middle Regular 1,275 56 NA
Chaparral High School High Regular 2,270 87 3

Laura Dearing Elementary School

  • Education Level: Primary
  • # of students: 770
  • # of teachers: 47
4
GreatSchools Rating

Jerome Mack Middle School

  • Education Level: Middle
  • # of students: 1,275
  • # of teachers: 56
NA
GreatSchools Rating

Chaparral High School

  • Education Level: High
  • # of students: 2,270
  • # of teachers: 87
3
GreatSchools Rating
 

$229,500$280,500$255,000

PURCHASE PRICE

$1,332$1,628$1,480

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,480
EXPENSES Loan Payment -$941
Property Tax -$97
Property Insurance -$60
Property Management Fees -$119
CASH FLOW
$263

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 17% of earned rent to cover both maintenance and periods of vacancy.

$255,000

PROJECTED PRICE

$1,480

PROJECTED RENT

0.58%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.75%
Appreciation Year (1-5) 12.8%
Maintenance Year (1-5) 8.00%
Vacancy 8.50%
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

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$73,325

INVESTMENT

$73,325

Down Payment
$63,750
Rehab Estimate
$5,750
Closing Costs
$3,825

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 30% down payment or higher enables the proceeds from the asset to cover all costs.

$941

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $63,750
Loan Amount $191,250
See What Happens When You Reinvest Cash Flow

10.83

YEARS SAVED

$48,271

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,480

    LIST RENT
  • $0.86

    LIST RENT PER SQFT
  • $1,495

    COMP ESTIMATED VALUE
  • $0.87

    COMP AVG. RENT PER SQFT
Comps Range
$1,380
1$1,3802$1,4503$1,4804$1,5005$1,700
$1,700
RENT COMPS ANALYSIS
  • 3040 Lawndale Street Las Vegas, NV 3
    • 3 beds 2 baths ∙ 1,713 Sqft ∙ Built 1963 3 beds 2 baths ∙ 1,713 Sqft ∙ Built 1963
    • Rent
    • Rent Per SQFT
    •  
    • $1,480
    • $0.86
    •  
  • 4032 Avonwood Las Vegas, NV 1
    • 3 beds 1 baths ∙ 1,712 Sqft ∙ Built 1973 3 beds 1 baths ∙ 1,712 Sqft ∙ Built 1973
    LEASED 06/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,380
    • $0.81
    •  
  • 3941 Shadow Wood Las Vegas, NV 2
    • 4 beds 2 baths ∙ 1,840 Sqft ∙ Built 1973 4 beds 2 baths ∙ 1,840 Sqft ∙ Built 1973
    LEASED 05/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $0.79
    •  
  • 3244 Nottingham Drive Las Vegas, NV 4
    • 3 beds 2 baths ∙ 1,674 Sqft ∙ Built 1964 3 beds 2 baths ∙ 1,674 Sqft ∙ Built 1964
    LEASED 01/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $0.90
    •  
  • 2861 Placita Court Las Vegas, NV 5
    • 4 beds 2 baths ∙ 1,716 Sqft ∙ Built 1971 4 beds 2 baths ∙ 1,716 Sqft ∙ Built 1971
    LEASED 10/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $0.99
    •  
PROPERTY LISTING DETAILS
Araceli Hernandez
1.702.524.1419
Tri-star Realty Llc
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2253736
Last Updated: 12/05/2020
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