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3094 Chapala Drive Las Vegas, NV 89120

4 Beds 4 Baths 2,462 sqft Built 1981

$390,000

List Price

$2,000

$1.8K - $2.2K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
February 18, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1981
  • Price/Sqft : $158.41
  • 5 Days on Market
  • MLS # : 2270632
  • Updated Date : 02/20/2021 at 22:52
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,462 sqft
  • Baths : 3 full , 1 half
Listing Agent

United Realty Group

Listing Agent's Description

Beautifully remodeled home centrally located home WITH 2 MASTER BEDROOMS. New exterior & interior two tone paint. Barn door in upstairs bathroom, and downstair bathroom, NEW electric fire place. Waterfall kitchen island. New shaker cabinets in kitchen with glass backsplash. All new recessed lighting throughout home, New flooring throughout all living areas, plus new carpet in bedrooms and new modern tile in all 3 bathrooms. New Vanities, counter tops and led mirrors in all bathrooms, tile in showers with accent pieces. Covered patio in the back yard extending the length of the home. Must see to truly appreciate the home.

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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)

PRICE & RENT TRENDS

Neighborhood: Paradise

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280kPrice in $112k296k

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

Neighborhood: Paradise

NeighborhoodNIR Market*CityMarket2010Year20002019 Q211001150120012501300135014001450150015501600Rent in $10761606

* 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
Doris French Elementary School Primary Regular 447 25 8
Helen C. Cannon Middle School Middle Regular 867 39 NA
Del Sol High School High Regular 2,051 73 2

Doris French Elementary School

  • Education Level: Primary
  • # of students: 447
  • # of teachers: 25
8
GreatSchools Rating

Helen C. Cannon Middle School

  • Education Level: Middle
  • # of students: 867
  • # of teachers: 39
NA
GreatSchools Rating

Del Sol High School

  • Education Level: High
  • # of students: 2,051
  • # of teachers: 73
2
GreatSchools Rating
 

$351,000$429,000$390,000

PURCHASE PRICE

$1,800$2,200$2,000

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,000
EXPENSES Loan Payment -$1,355
Property Tax -$175
Property Insurance -$75
Property Management Fees -$119
CASH FLOW
$277

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.

$390,000

PROJECTED PRICE

$2,000

PROJECTED RENT

0.51%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.96%
Appreciation Year (1-5) 9.4%
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$1.6M

PROJECTED ANNUAL CASH FLOW

11530$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$109,100

INVESTMENT

$109,100

Down Payment
$97,500
Rehab Estimate
$5,750
Closing Costs
$5,850

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 35% down payment or higher enables the proceeds from the asset to cover all costs.

$1,355

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $97,500
Loan Amount $292,500
See What Happens When You Reinvest Cash Flow

9.58

YEARS SAVED

$53,332

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,000

    LIST RENT
  • $0.81

    LIST RENT PER SQFT
  • $2,216

    COMP ESTIMATED VALUE
  • $0.9

    COMP AVG. RENT PER SQFT
Comps Range
$2,000
1$2,0002$2,0003$2,0504$2,1005$2,300
$2,300
RENT COMPS ANALYSIS
  • 3094 Chapala Drive Las Vegas, NV 2
    • 4 beds 4 baths ∙ 2,462 Sqft ∙ Built 1981 4 beds 4 baths ∙ 2,462 Sqft ∙ Built 1981
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $0.81
    •  
  • 3656 Braewood North Avenue Las Vegas, NV 1
    • 4 beds 2 baths ∙ 2,317 Sqft ∙ Built 1975 4 beds 2 baths ∙ 2,317 Sqft ∙ Built 1975
    property image
    LEASED 09/06/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $0.86
    •  
  • 3022 Paintedhills Avenue Las Vegas, NV 3
    • 3 beds 3 baths ∙ 2,295 Sqft ∙ Built 1984 3 beds 3 baths ∙ 2,295 Sqft ∙ Built 1984
    property image
    LEASED 10/28/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,050
    • $0.89
    •  
  • 4741 Montara Las Vegas, NV 4
    • 4 beds 3 baths ∙ 2,250 Sqft ∙ Built 1974 4 beds 3 baths ∙ 2,250 Sqft ∙ Built 1974
    property image
    LEASED 05/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $0.93
    •  
  • 5888 S Pecos Road Las Vegas, NV 5
    • 4 beds 3 baths ∙ 2,510 Sqft ∙ Built 1992 4 beds 3 baths ∙ 2,510 Sqft ∙ Built 1992
    property image
    LEASED 10/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $0.92
    •  
PROPERTY LISTING DETAILS
Jennyfer E Poveda
1.702.235.2259
United Realty Group
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2270632
Last Updated: 02/20/2021
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