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312 San Antonio River Street North Las Vegas, NV 89084

3 Beds 3 Baths 2,044 sqft Built 2019

$355,000

List Price

$1,570

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

January 30, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2019
  • Price/Sqft : $173.68
  • 2 Days on Market
  • MLS # : 2265103
  • Updated Date : 01/30/2021 at 18:58
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,044 sqft
  • Baths : 2 full , 1 half
Listing Agent

Offerpad

Listing Agent's Description

Incredible North Las Vegas home available in the gated community of Tierra Santa. Excellent community with a sparkling pool, conveniently located near freeways, shopping, and restaurants. Must see interior is sure to impress with a spacious open concept floor plan, ideal for entertaining. Beautiful wood-look flooring in all downstairs common areas. Neutral paint tones throughout. Stylish granite kitchen boasts gas cooking, ss appliances, a walk in pantry, and a HUGE island w/ breakfast bar. All bedrooms are upstairs as well as a large loft, perfect as a media or playroom. Owners suite includes a walk-in closet and private ensuite with dual sinks and a separate tub and shower. Large backyard is complete with a covered paver patio and a sprawling grassy area perfect for pets, play, gardening, and more. Dont miss it. *TOOL CABINETS IN GARAGE ARE NOT STAYING* Sq. footage is approx. 2298 - Seller is having this corrected with county recorder.

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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: North Ranch

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320k340k360kPrice in $110k366k

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

Neighborhood: North Ranch

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21000105011001150120012501300135014001450150015501600Rent in $9671640

* 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
Don E. Hayden Elementary School Primary Regular 702 38 6
Clifford O. Findlay Middle School Middle Regular 1,372 59 NA
Legacy High School High Regular 2,819 119 3

Don E. Hayden Elementary School

  • Education Level: Primary
  • # of students: 702
  • # of teachers: 38
6
GreatSchools Rating

Clifford O. Findlay Middle School

  • Education Level: Middle
  • # of students: 1,372
  • # of teachers: 59
NA
GreatSchools Rating

Legacy High School

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

$319,500$390,500$355,000

PURCHASE PRICE

$1,413$1,727$1,570

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,570
EXPENSES Loan Payment -$1,233
Property Tax -$79
Property Insurance -$67
Property Management Fees -$119
CASH FLOW
$72

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.

$355,000

PROJECTED PRICE

$1,570

PROJECTED RENT

0.44%

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

PROJECTED ANNUAL CASH FLOW

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

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$99,825

INVESTMENT

$99,825

Down Payment
$88,750
Rehab Estimate
$5,750
Closing Costs
$5,325

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 45% down payment or higher enables the proceeds from the asset to cover all costs.

$1,233

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $88,750
Loan Amount $266,250
See What Happens When You Reinvest Cash Flow

7.33

YEARS SAVED

$31,678

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,570

    LIST RENT
  • $0.77

    LIST RENT PER SQFT
  • $1,610

    COMP ESTIMATED VALUE
  • $0.79

    COMP AVG. RENT PER SQFT
Comps Range
$1,495
1$1,4952$1,5703$1,5954$1,5955$1,600
$1,600
RENT COMPS ANALYSIS
  • 312 San Antonio River Street North Las Vegas, NV 2
    • 3 beds 3 baths ∙ 2,044 Sqft ∙ Built 2019 3 beds 3 baths ∙ 2,044 Sqft ∙ Built 2019
    • Rent
    • Rent Per SQFT
    •  
    • $1,570
    • $0.77
    •  
  • 1017 Echo Beach Avenue #. North Las Vegas, NV 1
    • 4 beds 3 baths ∙ 1,888 Sqft ∙ Built 2005 4 beds 3 baths ∙ 1,888 Sqft ∙ Built 2005
    LEASED 01/05/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,495
    • $0.79
    •  
  • 33 Morrestown Avenue North Las Vegas, NV 3
    • 3 beds 3 baths ∙ 2,095 Sqft ∙ Built 2016 3 beds 3 baths ∙ 2,095 Sqft ∙ Built 2016
    LEASED 01/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $0.76
    •  
  • 216 Heathrow Lake Avenue North Las Vegas, NV 4
    • 3 beds 3 baths ∙ 2,095 Sqft ∙ Built 2017 3 beds 3 baths ∙ 2,095 Sqft ∙ Built 2017
    LEASED 09/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $0.76
    •  
  • 40 Stablewood Court North Las Vegas, NV 5
    • 3 beds 2 baths ∙ 1,916 Sqft ∙ Built 2009 3 beds 2 baths ∙ 1,916 Sqft ∙ Built 2009
    LEASED 03/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $0.84
    •  
PROPERTY LISTING DETAILS
Heather L Ferris
1.702.326.1352
Offerpad
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2265103
Last Updated: 01/30/2021
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