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3113 Ocean View Drive 
Las Vegas, NV
89117
4 Beds 3 Baths 2,242 sqft
Built 1989
INVESTimate
$335,000
List Price
$94,525
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PROPERTY INFO
FACTS
- Built In 1989
- Price/Sqft : $149.42
- 2 Days on Market
- MLS # : 2224945
- Updated Date : 08/26/2020 at 00:00
CONSTRUCTION
- Beds : 4
- Floor Size : 2,242 sqft
- Baths : 2 full , 1 half
Listing Agent
Win Win Real Estate
Listing Agent's Description
Fantastic 4 Bedroom Home in the beautiful Lakes Community! Over 2,200 sq. ft. with a Large Pool sized Backyard and 3 Car Garage with New Garage Doors! Separate Family and Living room with Fire Place! Spacious Master Bedroom with Walk-in Closet has been Completely Remodeled! New Tile Floors, Large Tile walk in Shower, New Toilet, Tub, Dual Sink with Vanity and Fixtures! Excellent location! Close to schools, parks and shopping. Minutes to Downtown Summerlin! Easy to care for Desert Landscaping!
SEE MORE
- 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)
- As the largest share, Las Vegas metro contributes to 75.1% of Nevada state's economy i.e. Gross State Product (USMayors.org, 2018)
PRICE & RENT TRENDS
Neighborhood: The Section Seven
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: The Section Seven
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
PROJECTED ACCUMULATED WEALTH
30 YEAR PROJECTION
- Cash Flow
- Appreciation
- Principal
PROJECTED ANNUAL CASH FLOW
PROJECTED PROPERTY VALUE
30 YEAR PROJECTION
- Appreciation
- Principal
- Loan Balance
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $1,840 |
| EXPENSES | Loan Payment | -$1,236 |
| Property Tax | -$217 | |
| Property Insurance | -$71 | |
| HOA | -$77 | |
| Property Management Fees | -$119 | |
|
CASH FLOW
$121
|
||
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.
$335,000
PROJECTED PRICE
$1,840
PROJECTED RENT
0.55%
PROJECTED RENT / PRICE RATIO
| Expense Inflation | 2.50% |
| Rental Growth Year (1-5) | 4.05% |
| Appreciation Year (1-5) | 8.40% |
| Maintenance Year (1-5) | 8.00% |
| Vacancy | 7.57% |
| Length of Stay Years | 2 |
TOTAL CASH OUT OF POCKET
INVESTMENT
$94,525
LOAN DETAILS
$1,236
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 4.25% |
| Down Payment | $83,750 |
| Loan Amount | $251,250 |
7.67
YEARS SAVED
$38,943
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$1,840
LIST RENT -
$0.82
LIST RENT PER SQFT
-
$1,827
COMP ESTIMATED VALUE -
$0.82
COMP AVG. RENT PER SQFT
Comps Range
-
3113 Ocean View Drive Las Vegas, NV 4
- 4 beds 3 baths ∙ 2,242 Sqft ∙ Built 1989 4 beds 3 baths ∙ 2,242 Sqft ∙ Built 1989
![property image]()
- Rent
- Rent Per SQFT
- $1,840
- $0.82
-
3000 Pelican Beach Drive Las Vegas, NV 1
- 4 beds 3 baths ∙ 2,080 Sqft ∙ Built 1989 4 beds 3 baths ∙ 2,080 Sqft ∙ Built 1989
![property image]()
LEASED 07/24/20- Rent
- Rent Per SQFT
- $1,650
- $0.79
-
9620 Blowing Sand Circle Las Vegas, NV 2
- 4 beds 2 baths ∙ 2,363 Sqft ∙ Built 1989 4 beds 2 baths ∙ 2,363 Sqft ∙ Built 1989
![property image]()
LEASED 12/05/19- Rent
- Rent Per SQFT
- $1,796
- $0.76
-
3304 Canyon Lake Drive Las Vegas, NV 3
- 3 beds 3 baths ∙ 2,196 Sqft ∙ Built 1989 3 beds 3 baths ∙ 2,196 Sqft ∙ Built 1989
![property image]()
LEASED 08/29/19- Rent
- Rent Per SQFT
- $1,800
- $0.82
-
3321 Shipmate Las Vegas, NV 5
- 4 beds 1 baths ∙ 2,132 Sqft ∙ Built 1988 4 beds 1 baths ∙ 2,132 Sqft ∙ Built 1988
![property image]()
LEASED 06/13/20- Rent
- Rent Per SQFT
- $1,900
- $0.89
PROPERTY LISTING DETAILS
1.702.505.3484
Win Win Real Estate
1.866.250.5610
Mynd Property Management
1453579
MLS #: 2224945
Last Updated: 08/26/2020
