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3186 Bel Air Drive Las Vegas, NV 89109

3 Beds 2 Baths 3,505 sqft Built 1979

$825,000

List Price

$2,800

$2.6K - $3.1K

Rent Est.

PROPERTY INFO

November 11, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1979
  • Price/Sqft : $235.38
  • 6 Days on Market
  • MLS # : 2247535
  • Updated Date : 11/13/2020 at 12:01
CONSTRUCTION
  • Beds : 3
  • Floor Size : 3,505 sqft
  • Baths : 1 full , 1 half
Listing Agent

Award Realty

Listing Agent's Description

Over $350,000 in renovations. On golf course. New tile roof. New doors & windows. Elegant European décor. Extensive surveillance system. Updated electrical. 2 fp. Spacious mstr suite w/balcony, large custom cedar w-in closet. Custom lighting. Sep oversized fm rm. Ofc/maids quarters (could be 3rd bedroom). Gorgeous outdoor entertaining area features custom iron portico, BBQ & white quartz pool. Paver stones T/O. Vaulted beamed ceilings

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: Winchester

NeighborhoodNIR Market*CityMarket2010Year2000201980k100k120k140k160k180k200k220k240k260k280kPrice in $80k296k

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

Neighborhood: Winchester

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21000105011001150120012501300135014001450150015501600Rent in $9651603

* 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
John S. Park Elementary School Primary Regular 852 46 3
John C. Fremont Middle School Middle Regular 873 41 NA
Valley High School High Magnet 2,826 123 2

John S. Park Elementary School

  • Education Level: Primary
  • # of students: 852
  • # of teachers: 46
3
GreatSchools Rating

John C. Fremont Middle School

  • Education Level: Middle
  • # of students: 873
  • # of teachers: 41
NA
GreatSchools Rating

Valley High School

  • Education Level: High
  • # of students: 2,826
  • # of teachers: 123
2
GreatSchools Rating
 

$742,500$907,500$825,000

PURCHASE PRICE

$2,520$3,080$2,800

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,800
EXPENSES Loan Payment -$3,044
Property Tax -$341
Property Insurance -$95
Property Management Fees -$119
CASH FLOW
-$799

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.

$825,000

PROJECTED PRICE

$2,800

PROJECTED RENT

0.34%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.75%
Appreciation Year (1-5) 10.1%
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$500k$1.0M$1.5M$2.0M$2.5M

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$500k$1.0M$1.5M$2.0M$2.5M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$224,375

INVESTMENT

$224,375

Down Payment
$206,250
Rehab Estimate
$5,750
Closing Costs
$12,375

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$3,044

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $206,250
Loan Amount $618,750
See What Happens When You Reinvest Cash Flow

1.25

YEARS SAVED

$6,235

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,800

    LIST RENT
  • $0.8

    LIST RENT PER SQFT
  • $2,325

    COMP ESTIMATED VALUE
  • $0.66

    COMP AVG. RENT PER SQFT
Comps Range
$1,395
1$1,3952$2,1703$2,8004$2,900
$2,900
RENT COMPS ANALYSIS
  • 3186 Bel Air Drive Las Vegas, NV 3
    • 3 beds 2 baths ∙ 3,505 Sqft ∙ Built 1979 3 beds 2 baths ∙ 3,505 Sqft ∙ Built 1979
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,800
    • $0.80
    •  
  • 925 Vegas Valley Drive #2 Las Vegas, NV 1
    • 3 beds 3 baths ∙ 3,584 Sqft ∙ Built 1974 3 beds 3 baths ∙ 3,584 Sqft ∙ Built 1974
    property image
    LEASED 07/31/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,395
    • $0.39
    •  
  • 3377 Dakota Way Las Vegas, NV 2
    • 4 beds 2 baths ∙ 3,165 Sqft ∙ Built 1962 4 beds 2 baths ∙ 3,165 Sqft ∙ Built 1962
    property image
    LEASED 05/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,170
    • $0.69
    •  
  • 1040 Pinehurst Drive Las Vegas, NV 4
    • 3 beds 3 baths ∙ 3,188 Sqft ∙ Built 1980 3 beds 3 baths ∙ 3,188 Sqft ∙ Built 1980
    property image
    LEASED 05/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,900
    • $0.91
    •  
PROPERTY LISTING DETAILS
Jerry Masini
1.702.499.1963
Award Realty
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2247535
Last Updated: 11/13/2020
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