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3120 Bayliner Avenue North Las Vegas, NV 89031

3 Beds 2 Baths 1,533 sqft Built 2001

$304,900

List Price

$1,390

$1.3K - $1.5K

Rent Est.

PROPERTY INFO

December 20, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2001
  • Price/Sqft : $198.89
  • 2 Days on Market
  • MLS # : 2256834
  • Updated Date : 12/19/2020 at 19:30
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,533 sqft
  • Baths : 2 full
Listing Agent

Resolution Realty

Listing Agent's Description

**Wonderful single story in the lovely community of Somerset! Inviting landscaping welcomes you as you make your way to the covered entry/front door*Once inside you'll notice upgrades throughout; high ceilings/thick baseboards/neutral paint /gorgeous vinyl flooring in high traffic areas/blinds/ceiling fans*Secondary bedrooms are located at the front of the house*Fantastic family room in the rear of the home has a cozy fireplace and is open the kitchen*Stunning white cabinets over gorgeous granite counters & w/subway tile backsplash with fun attention to detail*Large island has drop pendant lighting overhead*Eat-in dining area in kitchen is spacious*Access to the backyard via the slider takes you to the covered patio that runs the full length of the house! Fully landscaped yard with real grass/trees/shrubs and shed that stays *Primary bedroom is separate & spacious, & primary bathroom has a sep. shower and soaking tub*Appliances stay including RO system and water softener! Show me!

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MARKET HIGHLIGHTS

  • 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: Somerset Ridge

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280kPrice in $110k296k

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

Neighborhood: Somerset Ridge

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21000105011001150120012501300135014001450150015501600Rent in $9671606

* 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
Eva G. Simmons Elementary School Primary Regular 742 37 6
Brian And Teri Cram Middle School Middle Regular 1,568 65 NA
Legacy High School High Regular 2,819 119 3

Eva G. Simmons Elementary School

  • Education Level: Primary
  • # of students: 742
  • # of teachers: 37
6
GreatSchools Rating

Brian And Teri Cram Middle School

  • Education Level: Middle
  • # of students: 1,568
  • # of teachers: 65
NA
GreatSchools Rating

Legacy High School

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

$274,410$335,390$304,900

PURCHASE PRICE

$1,251$1,529$1,390

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,390
EXPENSES Loan Payment -$1,125
Property Tax -$219
Property Insurance -$57
Property Management Fees -$119
CASH FLOW
-$129

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.

$304,900

PROJECTED PRICE

$1,390

PROJECTED RENT

0.46%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.96%
Appreciation Year (1-5) 11.4%
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

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$86,549

INVESTMENT

$86,549

Down Payment
$76,225
Rehab Estimate
$5,750
Closing Costs
$4,574

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$1,125

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $76,225
Loan Amount $228,675
See What Happens When You Reinvest Cash Flow

3.75

YEARS SAVED

$12,464

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,390

    LIST RENT
  • $0.91

    LIST RENT PER SQFT
  • $1,403

    COMP ESTIMATED VALUE
  • $0.92

    COMP AVG. RENT PER SQFT
Comps Range
$1,250
1$1,2502$1,2753$1,3004$1,3905$1,495
$1,495
RENT COMPS ANALYSIS
  • 3120 Bayliner Avenue North Las Vegas, NV 4
    • 3 beds 2 baths ∙ 1,533 Sqft ∙ Built 2001 3 beds 2 baths ∙ 1,533 Sqft ∙ Built 2001
    • Rent
    • Rent Per SQFT
    •  
    • $1,390
    • $0.91
    •  
  • 3026 Sunrise Bay Avenue Las Vegas, NV 1
    • 3 beds 3 baths ∙ 1,385 Sqft ∙ Built 2001 3 beds 3 baths ∙ 1,385 Sqft ∙ Built 2001
    LEASED 06/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,250
    • $0.90
    •  
  • 3206 Inlet Bay Avenue North Las Vegas, NV 2
    • 3 beds 3 baths ∙ 1,406 Sqft ∙ Built 2001 3 beds 3 baths ∙ 1,406 Sqft ∙ Built 2001
    LEASED 01/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,275
    • $0.91
    •  
  • 2924 Sunrise Bay Avenue #0 North Las Vegas, NV 3
    • 3 beds 3 baths ∙ 1,385 Sqft ∙ Built 2001 3 beds 3 baths ∙ 1,385 Sqft ∙ Built 2001
    LEASED 06/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,300
    • $0.94
    •  
  • 6110 Pele Street North Las Vegas, NV 5
    • 3 beds 2 baths ∙ 1,646 Sqft ∙ Built 1999 3 beds 2 baths ∙ 1,646 Sqft ∙ Built 1999
    LEASED 07/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,495
    • $0.91
    •  
PROPERTY LISTING DETAILS
Ehren Alessi
1.702.800.5054
Resolution Realty
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2256834
Last Updated: 12/19/2020
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