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3121 Sudden Valley Court North Las Vegas, NV 89031

4 Beds 3 Baths 1,842 sqft Built 2001

INVESTimate

$309,500

List Price

$1,410

$1,269 - $1,551

Rent Est.

$344,659  ( +11.36%)   1 YR EST. FORECAST

PROPERTY INFO

August 25, 2020 RECENTLY ADDED
FACTS
  • Built In 2001
  • Price/Sqft : $168.02
  • 2 Days on Market
  • MLS # : 2224688
  • Updated Date : 08/25/2020 at 12:28
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,842 sqft
  • Baths : 2 full , 1 half
Listing Agent

Congress Realty

Listing Agent's Description

4bd, 2.5ba North Las Vegas home w custom upgrades! Located in a quiet neighborhood, low-maintenance front landscape w trees, gravel & covered patio. Wood-like tile flooring & soaring high ceilings in the open LR/DR rm. Wood paneled wall shared w 2nd LR w BI-entertainment ctr, wood fp & access to the backyard through sliding glass door! Space is open & incl room for brkfst table in the updated KIT. Farmhouse style KIT w center island, wood butcher block countertops, light wood cabinetry, SS appliances, track lights, hanging pot holder & dbl pantry! Powder room w elegant wainscoting & updated vanity. 4 carpeted bds w primary suite separated from the others for privacy. Primary bath w butcher block countertop, 2 bowl sinks & sliding glass door shower/tub, while the hallway bath has the same luxurious vanity! Backyard w covered patio & partial privacy enclosure, sizable lawn, rock surround, storage shed & large trees! Close proximity to shopping, dining, North Las Vegas Airport & I-15.

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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
 

$278,550$340,450$309,500

PURCHASE PRICE

$1,269$1,551$1,410

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-$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$1.2M

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,410
EXPENSES Loan Payment -$1,142
Property Tax -$222
Property Insurance -$63
Property Management Fees -$119
CASH FLOW
-$136

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.

$309,500

PROJECTED PRICE

$1,410

PROJECTED RENT

0.46%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.96%
Appreciation Year (1-5) 11.36%
Maintenance Year (1-5) 8.00%
Vacancy 7.63%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$87,768

INVESTMENT

$87,768

Down Payment
$77,375
Rehab Estimate
$5,750
Closing Costs
$4,643

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,142

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $77,375
Loan Amount $232,125
See What Happens When You Reinvest Cash Flow

3.67

YEARS SAVED

$12,280

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,410

    LIST RENT
  • $0.77

    LIST RENT PER SQFT
  • $1,446

    COMP ESTIMATED VALUE
  • $0.79

    COMP AVG. RENT PER SQFT
Comps Range
$1,395
1$1,3952$1,4003$1,4104$1,5505$1,600
$1,600
RENT COMPS ANALYSIS
  • 3121 Sudden Valley Court North Las Vegas, NV 3
    • 4 beds 3 baths ∙ 1,842 Sqft ∙ Built 2001 4 beds 3 baths ∙ 1,842 Sqft ∙ Built 2001
    • Rent
    • Rent Per SQFT
    •  
    • $1,410
    • $0.77
    •  
  • 3313 Mastercraft Avenue North Las Vegas, NV 1
    • 4 beds 2 baths ∙ 1,846 Sqft ∙ Built 2005 4 beds 2 baths ∙ 1,846 Sqft ∙ Built 2005
    LEASED 10/29/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,395
    • $0.76
    •  
  • 3613 Rio Paloma Court #none Las Vegas, NV 2
    • 3 beds 2 baths ∙ 1,788 Sqft ∙ Built 2005 3 beds 2 baths ∙ 1,788 Sqft ∙ Built 2005
    LEASED 01/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,400
    • $0.78
    •  
  • 5936 Beeline Court North Las Vegas, NV 4
    • 4 beds 3 baths ∙ 1,935 Sqft ∙ Built 2000 4 beds 3 baths ∙ 1,935 Sqft ∙ Built 2000
    LEASED 02/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $0.80
    •  
  • 5924 Aqua Verde Street North Las Vegas, NV 5
    • 3 beds 2 baths ∙ 2,008 Sqft ∙ Built 2004 3 beds 2 baths ∙ 2,008 Sqft ∙ Built 2004
    LEASED 08/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $0.80
    •  
PROPERTY LISTING DETAILS
Jared A English
1.888.229.2009
Congress Realty
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2224688
Last Updated: 08/25/2020
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