Work with a dedicated Real Estate Advisor who will take your financial preferences and help you select and acquire properties that fit your criteria. Learn more

3048 Balcones Fault Avenue North Las Vegas, NV 89081

4 Beds 2 Baths 1,788 sqft Built 2005

$319,900

List Price

$1,540

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

January 03, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2005
  • Price/Sqft : $178.91
  • 2 Days on Market
  • MLS # : 2258783
  • Updated Date : 01/03/2021 at 04:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,788 sqft
  • Baths : 2 full
Listing Agent

Realty One Group, Inc

Listing Agent's Description

Gorgeous split-level home in Centennial Hills offers great separation between bedrooms with two on the upper level and two on the lower. Upgraded wood laminate flooring throughout and dual sliders leading from the lower bedrooms to the expansive backyard. The kitchen boasts granite counters and and sleek all black appliances. The kitchen is also open to the main living for optimal entertaining. This home is front loaded leaving ample room in the backyard for future pool or to create your own private paradise. This stunning home will not last long, call today for a private showing.

SEE MORE

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: Centennial Azure

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260k280kPrice in $84k299k

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

Neighborhood: Centennial Azure

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21000105011001150120012501300135014001450150015501600Rent in $9651603

* 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
John Tartan Elementary School Primary Regular 637 37 3
Carroll M Johnston Middle School Middle Regular 1,365 58 NA
Legacy High School High Regular 2,819 119 3

John Tartan Elementary School

  • Education Level: Primary
  • # of students: 637
  • # of teachers: 37
3
GreatSchools Rating

Carroll M Johnston Middle School

  • Education Level: Middle
  • # of students: 1,365
  • # of teachers: 58
NA
GreatSchools Rating

Legacy High School

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

$287,910$351,890$319,900

PURCHASE PRICE

$1,386$1,694$1,540

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,540
EXPENSES Loan Payment -$1,180
Property Tax -$234
Property Insurance -$62
Property Management Fees -$119
CASH FLOW
-$55

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.

$319,900

PROJECTED PRICE

$1,540

PROJECTED RENT

0.48%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.75%
Appreciation Year (1-5) 10.0%
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

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$90,524

INVESTMENT

$90,524

Down Payment
$79,975
Rehab Estimate
$5,750
Closing Costs
$4,799

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,180

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $79,975
Loan Amount $239,925
See What Happens When You Reinvest Cash Flow

4.58

YEARS SAVED

$17,166

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,540

    LIST RENT
  • $0.86

    LIST RENT PER SQFT
  • $1,511

    COMP ESTIMATED VALUE
  • $0.85

    COMP AVG. RENT PER SQFT
Comps Range
$1,325
1$1,3252$1,4003$1,4504$1,5405$1,595
$1,595
RENT COMPS ANALYSIS
  • 3048 Balcones Fault Avenue North Las Vegas, NV 4
    • 4 beds 2 baths ∙ 1,788 Sqft ∙ Built 2005 4 beds 2 baths ∙ 1,788 Sqft ∙ Built 2005
    • Rent
    • Rent Per SQFT
    •  
    • $1,540
    • $0.86
    •  
  • 6245 Capehart Falls Street North Las Vegas, NV 1
    • 3 beds 2 baths ∙ 1,674 Sqft ∙ Built 2006 3 beds 2 baths ∙ 1,674 Sqft ∙ Built 2006
    LEASED 02/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,325
    • $0.79
    •  
  • 2928 Moretta Court North Las Vegas, NV 2
    • 3 beds 2 baths ∙ 1,617 Sqft ∙ Built 2004 3 beds 2 baths ∙ 1,617 Sqft ∙ Built 2004
    LEASED 11/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,400
    • $0.87
    •  
  • 2872 Vigilante Court #0 North Las Vegas, NV 3
    • 4 beds 2 baths ∙ 1,787 Sqft ∙ Built 2005 4 beds 2 baths ∙ 1,787 Sqft ∙ Built 2005
    LEASED 04/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $0.81
    •  
  • 6120 Alderley Court North Las Vegas, NV 5
    • 4 beds 2 baths ∙ 1,750 Sqft ∙ Built 2006 4 beds 2 baths ∙ 1,750 Sqft ∙ Built 2006
    LEASED 12/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $0.91
    •  
PROPERTY LISTING DETAILS
Susan M Absher
1.702.324.8235
Realty One Group, Inc
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2258783
Last Updated: 01/03/2021
BESbswy