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

3184 Santolina Drive Las Vegas, NV 89135

3 Beds 2 Baths 2,578 sqft Built 2001

$679,000

List Price

$2,640

$2.4K - $2.9K

Rent Est.

PROPERTY INFO

November 12, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2001
  • Price/Sqft : $263.38
  • 5 Days on Market
  • MLS # : 2247869
  • Updated Date : 11/13/2020 at 12:59
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,578 sqft
  • Baths : 1 full , 1 half
Listing Agent

Exp Realty

Listing Agent's Description

Stunning Single Story Pool home in the heart of Summerlin! This tucked away gated community is one of a kind is located near downtown Summerlin. Featuring an enchanting courtyard entrance leading into a spacious open concept floorplan with tasteful finishes from wall to wall. Custom Built-ins enhance the formal dining room and the French doors lead to the courtyard. Updated kitchen with newer appliances, custom cabinetry, Master retreat includes a renovated ensuite bathroom with dual sinks and a separate tub and shower. 3 car garage. The incredible backyard oasis is complete with mature desert landscaping, a built-in bbq, a sprawling partially covered patio, and a sparkling pool and spa with waterfall. New Water heater, new AC units, New BBQ CCTV security system. This home has it all!

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

Neighborhood: The Willows

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320k340k360k380kPrice in $119k395k

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

Neighborhood: The Willows

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21100120013001400150016001700180019002000Rent in $10762007

* 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
Judy And John Goolsby Elementary School Primary Regular 807 42 10
Victoria Fertitta Middle School Middle Regular 1,472 60 NA
Palo Verde High School High Regular 3,024 114 9

Judy And John Goolsby Elementary School

  • Education Level: Primary
  • # of students: 807
  • # of teachers: 42
10
GreatSchools Rating

Victoria Fertitta Middle School

  • Education Level: Middle
  • # of students: 1,472
  • # of teachers: 60
NA
GreatSchools Rating

Palo Verde High School

  • Education Level: High
  • # of students: 3,024
  • # of teachers: 114
9
GreatSchools Rating
 

$611,100$746,900$679,000

PURCHASE PRICE

$2,376$2,904$2,640

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,640
EXPENSES Loan Payment -$2,505
Property Tax -$448
Property Insurance -$77
Property Management Fees -$119
CASH FLOW
-$509

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.

$679,000

PROJECTED PRICE

$2,640

PROJECTED RENT

0.39%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.05%
Appreciation Year (1-5) 8.8%
Maintenance Year (1-5) 8.00%
Vacancy 7.57%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$500k$1.0M$1.5M$2.0M

PROJECTED ANNUAL CASH FLOW

11530-$10k-$5.0k$0.0$5.0k$10k$15k$20k$25k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$500k$1.0M$1.5M$2.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$185,685

INVESTMENT

$185,685

Down Payment
$169,750
Rehab Estimate
$5,750
Closing Costs
$10,185

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 60% down payment or higher enables the proceeds from the asset to cover all costs.

$2,505

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $169,750
Loan Amount $509,250
See What Happens When You Reinvest Cash Flow

2.33

YEARS SAVED

$12,846

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,640

    LIST RENT
  • $1.02

    LIST RENT PER SQFT
  • $2,436

    COMP ESTIMATED VALUE
  • $0.95

    COMP AVG. RENT PER SQFT
Comps Range
$2,300
1$2,3002$2,3503$2,3504$2,5955$2,640
$2,640
RENT COMPS ANALYSIS
  • 3184 Santolina Drive Las Vegas, NV 5
    • 3 beds 2 baths ∙ 2,578 Sqft ∙ Built 2001 3 beds 2 baths ∙ 2,578 Sqft ∙ Built 2001
    • Rent
    • Rent Per SQFT
    •  
    • $2,640
    • $1.02
    •  
  • 3355 Jasmine Vine Court Las Vegas, NV 1
    • 4 beds 3 baths ∙ 2,546 Sqft ∙ Built 2002 4 beds 3 baths ∙ 2,546 Sqft ∙ Built 2002
    LEASED 09/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $0.90
    •  
  • 3414 Hillside Garden Drive Las Vegas, NV 2
    • 4 beds 3 baths ∙ 2,514 Sqft ∙ Built 2001 4 beds 3 baths ∙ 2,514 Sqft ∙ Built 2001
    LEASED 01/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,350
    • $0.93
    •  
  • 3316 Chesterbrook Court Las Vegas, NV 3
    • 3 beds 3 baths ∙ 2,513 Sqft ∙ Built 2001 3 beds 3 baths ∙ 2,513 Sqft ∙ Built 2001
    LEASED 02/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,350
    • $0.94
    •  
  • 10863 Franklin Hills Avenue Las Vegas, NV 4
    • 3 beds 3 baths ∙ 2,578 Sqft ∙ Built 2000 3 beds 3 baths ∙ 2,578 Sqft ∙ Built 2000
    LEASED 06/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,595
    • $1.01
    •  
PROPERTY LISTING DETAILS
Lynda M Epstein
1.702.287.4795
Exp Realty
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2247869
Last Updated: 11/13/2020
BESbswy