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3117 Waterside Circle Las Vegas, NV 89117

3 Beds 2 Baths 1,737 sqft Built 1985

$899,000

List Price

$2,100

$1.9K - $2.3K

Rent Est.

PROPERTY INFO

December 12, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1985
  • Price/Sqft : $517.56
  • 3 Days on Market
  • MLS # : 2255263
  • Updated Date : 12/11/2020 at 22:30
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,737 sqft
  • Baths : 2 full
Listing Agent

Realty One Group, Inc

Listing Agent's Description

Come vacation at home in this uniquely remodeled gem nestled at the base of the waterways in the prestigious Lakes community. An abundance of natural light fills this home through vast windows and two sliding doors at main living. Thoughtfully designed custom light fixtures throughout add to the immense charm of this property. Views of the lake from Living Room, Kitchen, and Master Bedroom. Private boat dock with direct access to amazing fishing on a fully stocked lake. Electric Boat that can be included in sale. You buy a relaxed waterfront lifestyle with the purchase of this luxury home. Call me direct to view this amazing property!

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: The Lakes

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450k500kPrice in $119k550k

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

Neighborhood: The Lakes

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2110012001300140015001600170018001900200021002200230024002500Rent in $10762504

* 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
M.j. Christensen Elementary School Primary Regular 615 34 6
Lawrence Junior High School Middle Regular 1,421 61 NA
Spring Valley High School High Regular 1,925 79 4

M.j. Christensen Elementary School

  • Education Level: Primary
  • # of students: 615
  • # of teachers: 34
6
GreatSchools Rating

Lawrence Junior High School

  • Education Level: Middle
  • # of students: 1,421
  • # of teachers: 61
NA
GreatSchools Rating

Spring Valley High School

  • Education Level: High
  • # of students: 1,925
  • # of teachers: 79
4
GreatSchools Rating
 

$809,100$988,900$899,000

PURCHASE PRICE

$1,890$2,310$2,100

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,100
EXPENSES Loan Payment -$3,317
Property Tax -$315
Property Insurance -$61
Property Management Fees -$119
CASH FLOW
-$1,712

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.

$899,000

PROJECTED PRICE

$2,100

PROJECTED RENT

0.23%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.96%
Appreciation Year (1-5) 5.0%
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$500k$1.0M$1.5M$2.0M$2.5M

PROJECTED ANNUAL CASH FLOW

11530-$25k-$20k-$15k-$10k-$5.0k$0.0$5.0k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$500k$1.0M$1.5M$2.0M$2.5M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$243,985

INVESTMENT

$243,985

Down Payment
$224,750
Rehab Estimate
$5,750
Closing Costs
$13,485

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 75% down payment or higher enables the proceeds from the asset to cover all costs.

$3,317

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $224,750
Loan Amount $674,250
See What Happens When You Reinvest Cash Flow

0.08

YEARS SAVED

$80

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,100

    LIST RENT
  • $1.21

    LIST RENT PER SQFT
  • $1,702

    COMP ESTIMATED VALUE
  • $0.98

    COMP AVG. RENT PER SQFT
Comps Range
$1,545
1$1,5452$1,5953$1,7504$1,7955$2,100
$2,100
RENT COMPS ANALYSIS
  • 3117 Waterside Circle Las Vegas, NV 5
    • 3 beds 2 baths ∙ 1,737 Sqft ∙ Built 1985 3 beds 2 baths ∙ 1,737 Sqft ∙ Built 1985
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $1.21
    •  
  • 8653 Buttercreek Way Las Vegas, NV 1
    • 3 beds 3 baths ∙ 1,554 Sqft ∙ Built 1988 3 beds 3 baths ∙ 1,554 Sqft ∙ Built 1988
    property image
    LEASED 02/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,545
    • $0.99
    •  
  • 8641 Trafalgar Drive #0 Las Vegas, NV 2
    • 3 beds 2 baths ∙ 1,542 Sqft ∙ Built 1986 3 beds 2 baths ∙ 1,542 Sqft ∙ Built 1986
    property image
    LEASED 11/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $1.03
    •  
  • 3040 Misty Harbour Drive Las Vegas, NV 3
    • 3 beds 3 baths ∙ 1,929 Sqft ∙ Built 1989 3 beds 3 baths ∙ 1,929 Sqft ∙ Built 1989
    property image
    LEASED 10/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.91
    •  
  • 3009 Harborside Drive Las Vegas, NV 4
    • 3 beds 3 baths ∙ 1,808 Sqft ∙ Built 1986 3 beds 3 baths ∙ 1,808 Sqft ∙ Built 1986
    property image
    LEASED 07/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,795
    • $0.99
    •  
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 #: 2255263
Last Updated: 12/11/2020
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