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3128 Waterside Circle Las Vegas, NV 89117

3 Beds 2 Baths 1,736 sqft Built 1985

INVESTimate

$399,000

List Price

$1,750

$1,575 - $1,925

Rent Est.

$418,950  ( +5.00%)   1 YR EST. FORECAST

PROPERTY INFO

FACTS
  • Built In 1985
  • Price/Sqft : $229.84
  • 22 Days on Market
  • MLS # : 2219729
  • Updated Date : 08/24/2020 at 05:55
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,736 sqft
  • Baths : 2 full
Listing Agent

Valleywide Realty & Investment

Listing Agent's Description

Beautiful home in gated community at The Lakes! Home is in pristine condition--original owner. Solid Oak flooring throughout including the kitchen and bedrooms. Bathroom floors are tile. State of the art security system just installed--goes with home! Brand new stainless steel refrigerator! Awesome community with private lake, views of mountains, jogging trails, parks, boating. Great location near restaurants, freeways and downtown Summerlin. Private backyard with mature landscaping and view of the city lights!

SEE MORE

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: The Lakes

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450k500kPrice in $119k550k

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

Neighborhood: The Lakes

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2110012001300140015001600170018001900200021002200230024002500Rent in $10762504

* 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
M.j. Christensen Elementary School Primary Regular 615 34 6
Lawrence Junior High School Middle Regular 1,421 61 NA
Spring Valley High School High Regular 1,925 79 4

M.j. Christensen Elementary School

  • Education Level: Primary
  • # of students: 615
  • # of teachers: 34
6
GreatSchools Rating

Lawrence Junior High School

  • Education Level: Middle
  • # of students: 1,421
  • # of teachers: 61
NA
GreatSchools Rating

Spring Valley High School

  • Education Level: High
  • # of students: 1,925
  • # of teachers: 79
4
GreatSchools Rating
 

$359,100$438,900$399,000

PURCHASE PRICE

$1,575$1,925$1,750

RENT

DOWN PAYMENT
FINANCING

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$200k$400k$600k$800k$1.0M

PROJECTED ANNUAL CASH FLOW

11530-$5.0k$0.0$5.0k$10k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,750
EXPENSES Loan Payment -$1,472
Property Tax -$208
Property Insurance -$61
HOA -$247
Property Management Fees -$119
CASH FLOW
-$357

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.

$399,000

PROJECTED PRICE

$1,750

PROJECTED RENT

0.44%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.96%
Appreciation Year (1-5) 5.00%
Maintenance Year (1-5) 8.00%
Vacancy 7.63%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$111,485

INVESTMENT

$111,485

Down Payment
$99,750
Rehab Estimate
$5,750
Closing Costs
$5,985

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 65% down payment or higher enables the proceeds from the asset to cover all costs.

$1,472

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $99,750
Loan Amount $299,250
See What Happens When You Reinvest Cash Flow

1.5

YEARS SAVED

$3,838

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,750

    LIST RENT
  • $1.01

    LIST RENT PER SQFT
  • $1,597

    COMP ESTIMATED VALUE
  • $0.92

    COMP AVG. RENT PER SQFT
Comps Range
$1,400
1$1,4002$1,4003$1,5004$1,6955$1,750
$1,750
RENT COMPS ANALYSIS
  • 3128 Waterside Circle Las Vegas, NV 5
    • 3 beds 2 baths ∙ 1,736 Sqft ∙ Built 1985 3 beds 2 baths ∙ 1,736 Sqft ∙ Built 1985
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $1.01
    •  
  • 8644 Toscana Lane Las Vegas, NV 1
    • 3 beds 2 baths ∙ 1,536 Sqft ∙ Built 1987 3 beds 2 baths ∙ 1,536 Sqft ∙ Built 1987
    LEASED 11/20/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,400
    • $0.91
    •  
  • 8661 Caribbean Court #0 Las Vegas, NV 2
    • 3 beds 2 baths ∙ 1,542 Sqft ∙ Built 1986 3 beds 2 baths ∙ 1,542 Sqft ∙ Built 1986
    LEASED 11/27/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,400
    • $0.91
    •  
  • 3153 Mediterranean Drive Las Vegas, NV 3
    • 3 beds 3 baths ∙ 1,536 Sqft ∙ Built 1985 3 beds 3 baths ∙ 1,536 Sqft ∙ Built 1985
    LEASED 11/11/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $0.98
    •  
  • 3036 Misty Harbour Drive Las Vegas, NV 4
    • 3 beds 3 baths ∙ 1,929 Sqft ∙ Built 1989 3 beds 3 baths ∙ 1,929 Sqft ∙ Built 1989
    LEASED 10/28/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $0.88
    •  
PROPERTY LISTING DETAILS
Kathy L Arrington
1.702.595.7530
Valleywide Realty & Investment
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2219729
Last Updated: 08/24/2020
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