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 Strawberry Park Drive Las Vegas, NV 89120

4 Beds 3 Baths 2,354 sqft Built 2004

INVESTimate

$364,900

List Price

$1,700

$1,530 - $1,870

Rent Est.

$399,091  ( +9.37%)   1 YR EST. FORECAST

PROPERTY INFO

FACTS
  • Built In 2004
  • Price/Sqft : $155.01
  • 11 Days on Market
  • MLS # : 2222471
  • Updated Date : 08/24/2020 at 08:19
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,354 sqft
  • Baths : 2 full , 1 half
Listing Agent

Simply Vegas

Listing Agent's Description

WOW, CONTEMPORARY STUNNER, CLOSE TO EVERYTHING INCLUDING THE AIRPORT, LV STRIP, AND NEW RAIDERS STADIUM. LOCATED IN QUIET, SAFE, GATED COMMUNITY. ESPRESSO CABINETS, GRANITE COUNTERTOPS, AND NEW STAINLESS-STEEL APPLIANCES. MODERN LAMINATE THROUGHOUT, NEW LIGHTING, DOORS, AND HARDWARE. COZY PATIO WITH EXTENDED CONCRETE PAD, LUSH GREEN LANDSCAPING, AND YOUR OWN PRIVATE GARDEN. FULLY REMODELED MASTER BATH WITH FRAMLESS SHOWER, DUAL HEADS, AND A MODERN SOAKER TUB. THIS ONE WILL NOT LAST, ACT FAST!

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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)

PRICE & RENT TRENDS

Neighborhood: Paradise

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280kPrice in $112k296k

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

Neighborhood: Paradise

NeighborhoodNIR Market*CityMarket2010Year20002019 Q211001150120012501300135014001450150015501600Rent in $10761606

* 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
David M. Cox Elementary School Primary Regular 625 32 8
Barbara And Hank Greenspun Middle School Middle Regular 1,397 55 NA
Silverado High School High Regular 2,263 94 5

David M. Cox Elementary School

  • Education Level: Primary
  • # of students: 625
  • # of teachers: 32
8
GreatSchools Rating

Barbara And Hank Greenspun Middle School

  • Education Level: Middle
  • # of students: 1,397
  • # of teachers: 55
NA
GreatSchools Rating

Silverado High School

  • Education Level: High
  • # of students: 2,263
  • # of teachers: 94
5
GreatSchools Rating
 

$328,410$401,390$364,900

PURCHASE PRICE

$1,530$1,870$1,700

RENT

DOWN PAYMENT
FINANCING

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-$5.0k$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

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,700
EXPENSES Loan Payment -$1,346
Property Tax -$256
Property Insurance -$73
HOA -$65
Property Management Fees -$119
CASH FLOW
-$160

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.

$364,900

PROJECTED PRICE

$1,700

PROJECTED RENT

0.47%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.96%
Appreciation Year (1-5) 9.37%
Maintenance Year (1-5) 8.00%
Vacancy 7.63%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$102,449

INVESTMENT

$102,449

Down Payment
$91,225
Rehab Estimate
$5,750
Closing Costs
$5,474

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,346

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $91,225
Loan Amount $273,675
See What Happens When You Reinvest Cash Flow

3.58

YEARS SAVED

$13,698

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,700

    LIST RENT
  • $0.72

    LIST RENT PER SQFT
  • $1,754

    COMP ESTIMATED VALUE
  • $0.74

    COMP AVG. RENT PER SQFT
Comps Range
$1,650
1$1,6502$1,6953$1,7004$1,7505$1,895
$1,895
RENT COMPS ANALYSIS
  • 3121 Strawberry Park Drive Las Vegas, NV 3
    • 4 beds 3 baths ∙ 2,354 Sqft ∙ Built 2004 4 beds 3 baths ∙ 2,354 Sqft ∙ Built 2004
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $0.72
    •  
  • 2800 Norfolk Avenue Henderson, NV 1
    • 4 beds 2 baths ∙ 2,294 Sqft ∙ Built 1995 4 beds 2 baths ∙ 2,294 Sqft ∙ Built 1995
    LEASED 03/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.72
    •  
  • 3139 Strawberry Park Drive Las Vegas, NV 2
    • 4 beds 3 baths ∙ 2,276 Sqft ∙ Built 2004 4 beds 3 baths ∙ 2,276 Sqft ∙ Built 2004
    LEASED 01/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $0.74
    •  
  • 3133 Strawberry Park Drive Las Vegas, NV 4
    • 4 beds 3 baths ∙ 2,354 Sqft ∙ Built 2004 4 beds 3 baths ∙ 2,354 Sqft ∙ Built 2004
    LEASED 08/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.74
    •  
  • 2873 Aliso Drive Henderson, NV 5
    • 5 beds 3 baths ∙ 2,418 Sqft ∙ Built 1994 5 beds 3 baths ∙ 2,418 Sqft ∙ Built 1994
    LEASED 12/20/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,895
    • $0.78
    •  
PROPERTY LISTING DETAILS
Robert Roveta
1.702.596.8382
Simply Vegas
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2222471
Last Updated: 08/24/2020
BESbswy