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3050 Lawndale Street Las Vegas, NV 89121

4 Beds 2 Baths 1,288 sqft Built 1963

$234,999

List Price

$1,280

$1.2K - $1.4K

Rent Est.

PROPERTY INFO

December 06, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1963
  • Price/Sqft : $182.45
  • 2 Days on Market
  • MLS # : 2253778
  • Updated Date : 12/05/2020 at 17:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,288 sqft
  • Baths : 2 full
Listing Agent

Re/max Reliance

Listing Agent's Description

Great corner lot property with RV Parking. Home in great condition with recent paint inside and out. Very clean property ready for move in. 4 bedrooms on this oversized lot, with enclosed patio and large backyard for bbq entertaining. Window in front recently replaced. Workshop for the handyman. New countertops and upgraded cabinets. Cabinets and plenty of storage in this home.

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
 

$211,499$258,499$234,999

PURCHASE PRICE

$1,152$1,408$1,280

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,280
EXPENSES Loan Payment -$867
Property Tax -$90
Property Insurance -$52
Property Management Fees -$119
CASH FLOW
$152

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.

$234,999

PROJECTED PRICE

$1,280

PROJECTED RENT

0.54%

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

PROJECTED ANNUAL CASH FLOW

11530$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k$16k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$68,025

INVESTMENT

$68,025

Down Payment
$58,750
Rehab Estimate
$5,750
Closing Costs
$3,525

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 40% down payment or higher enables the proceeds from the asset to cover all costs.

$867

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $58,750
Loan Amount $176,249
See What Happens When You Reinvest Cash Flow

9

YEARS SAVED

$33,529

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,280

    LIST RENT
  • $0.99

    LIST RENT PER SQFT
  • $1,243

    COMP ESTIMATED VALUE
  • $0.97

    COMP AVG. RENT PER SQFT
Comps Range
$1,000
1$1,0002$1,1003$1,2804$1,2955$1,390
$1,390
RENT COMPS ANALYSIS
  • 3050 Lawndale Street Las Vegas, NV 3
    • 4 beds 2 baths ∙ 1,288 Sqft ∙ Built 1963 4 beds 2 baths ∙ 1,288 Sqft ∙ Built 1963
    • Rent
    • Rent Per SQFT
    •  
    • $1,280
    • $0.99
    •  
  • 249 Greenbriar Townhouse Way Las Vegas, NV 1
    • 3 beds 2 baths ∙ 1,232 Sqft ∙ Built 1969 3 beds 2 baths ∙ 1,232 Sqft ∙ Built 1969
    LEASED 01/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,000
    • $0.81
    •  
  • 227 Greenbriar Townhouse Las Vegas, NV 2
    • 3 beds 2 baths ∙ 1,232 Sqft ∙ Built 1969 3 beds 2 baths ∙ 1,232 Sqft ∙ Built 1969
    LEASED 05/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,100
    • $0.89
    •  
  • 3541 Anthony Drive #0 Las Vegas, NV 4
    • 4 beds 2 baths ∙ 1,200 Sqft ∙ Built 1971 4 beds 2 baths ∙ 1,200 Sqft ∙ Built 1971
    LEASED 07/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,295
    • $1.08
    •  
  • 3146 Greendale Street Las Vegas, NV 5
    • 4 beds 1 baths ∙ 1,288 Sqft ∙ Built 1963 4 beds 1 baths ∙ 1,288 Sqft ∙ Built 1963
    LEASED 03/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,390
    • $1.08
    •  
PROPERTY LISTING DETAILS
Roberta C Stevenson
1.702.378.4659
Re/max Reliance
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2253778
Last Updated: 12/05/2020
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