Work with a dedicated Real Estate Advisor who will take your financial preferences and help you select and acquire properties that fit your criteria. Learn more

3121 Budding Blossom Court Las Vegas, NV 89108

3 Beds 2 Baths 1,918 sqft Built 1988

$329,999

List Price

$1,610

$1.4K - $1.8K

Rent Est.

PROPERTY INFO

FACTS
  • Single Family
  • Built In 1988
  • Price/Sqft : $172.05
  • 20 Days on Market
  • MLS # : 2258986
  • Updated Date : 01/20/2021 at 21:46
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,918 sqft
  • Baths : 2 full
Listing Agent

Vertex Realty & Property Manag

Listing Agent's Description

MUST SEE!!! *A Newly Renovated 3 bed 2 bath Single Story home on a big Corner Lot in Cul-de-Sac. *Large yard with Mountain Views!!!**The Master bedroom was enlarged by taking one of the bedrooms. **Master Bath with Tub & Separate Shower & Dual Sink **Open Floor Plan **Waterproof wood flooring throughout the house **Kitchen and bath have Granite Countertop **Stainless Steel Double oven gas stove, dishwasher, range **Kitchen island with a Stainless Steel Sink **Living room with a Cozy 3 way Fireplace **A/C unit was replaced in 2015 **Water Softening System and Alarm System were installed in Nov. 2019 ** Solar was installed in Nov.2019, the average power bill is $30/month. ***Very Easy to access Freeway, Supermarkets, and Restaurants. Don't miss seeing this ABSOLUTELY STUNNING HOME WILL NOT LAST LONG!!!

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

Zip Code: 89108

ZipNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260k280kPrice in $83k296k

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

Zip Code: 89108

ZipNIR Market*CityMarket2010Year20002019 Q29501000105011001150120012501300135014001450150015501600Rent in $9121603

* 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
Berkley Bunker Elementary School Primary Regular 746 39 4
Irwin And Susan Molasky Junior High School Middle Regular 1,131 50 NA
Cimarron Memorial High School High Regular 2,541 102 3

Berkley Bunker Elementary School

  • Education Level: Primary
  • # of students: 746
  • # of teachers: 39
4
GreatSchools Rating

Irwin And Susan Molasky Junior High School

  • Education Level: Middle
  • # of students: 1,131
  • # of teachers: 50
NA
GreatSchools Rating

Cimarron Memorial High School

  • Education Level: High
  • # of students: 2,541
  • # of teachers: 102
3
GreatSchools Rating
 

$296,999$362,999$329,999

PURCHASE PRICE

$1,449$1,771$1,610

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,610
EXPENSES Loan Payment -$1,146
Property Tax -$195
Property Insurance -$64
Property Management Fees -$119
CASH FLOW
$85

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 17% of earned rent to cover both maintenance and periods of vacancy.

$329,999

PROJECTED PRICE

$1,610

PROJECTED RENT

0.49%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.75%
Appreciation Year (1-5) 11.7%
Maintenance Year (1-5) 8.00%
Vacancy 8.50%
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

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$93,200

INVESTMENT

$93,200

Down Payment
$82,500
Rehab Estimate
$5,750
Closing Costs
$4,950

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,146

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $82,500
Loan Amount $247,499
See What Happens When You Reinvest Cash Flow

6.67

YEARS SAVED

$26,501

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,610

    LIST RENT
  • $0.84

    LIST RENT PER SQFT
  • $1,602

    COMP ESTIMATED VALUE
  • $0.84

    COMP AVG. RENT PER SQFT
Comps Range
$1,450
1$1,4502$1,4653$1,5504$1,6105$1,640
$1,640
RENT COMPS ANALYSIS
  • 3121 Budding Blossom Court Las Vegas, NV 4
    • 4 beds 2 baths ∙ 1,918 Sqft ∙ Built 1988 4 beds 2 baths ∙ 1,918 Sqft ∙ Built 1988
    • Rent
    • Rent Per SQFT
    •  
    • $1,610
    • $0.84
    •  
  • 3444 Trilogy Drive Las Vegas, NV 1
    • 3 beds 3 baths ∙ 1,761 Sqft ∙ Built 1998 3 beds 3 baths ∙ 1,761 Sqft ∙ Built 1998
    LEASED 02/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $0.82
    •  
  • 2765 Trotwood Lane Las Vegas, NV 2
    • 4 beds 3 baths ∙ 1,806 Sqft ∙ Built 1992 4 beds 3 baths ∙ 1,806 Sqft ∙ Built 1992
    LEASED 08/20/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,465
    • $0.81
    •  
  • 2633 Island Brook Drive Las Vegas, NV 3
    • 3 beds 3 baths ∙ 1,836 Sqft ∙ Built 1990 3 beds 3 baths ∙ 1,836 Sqft ∙ Built 1990
    LEASED 05/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $0.84
    •  
  • 6665 Coral Springs Circle Las Vegas, NV 5
    • 3 beds 2 baths ∙ 1,887 Sqft ∙ Built 1990 3 beds 2 baths ∙ 1,887 Sqft ∙ Built 1990
    LEASED 10/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,640
    • $0.87
    •  
PROPERTY LISTING DETAILS
Linlin Caldwell
1.702.606.7787
Vertex Realty & Property Manag
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2258986
Last Updated: 01/20/2021
BESbswy