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3188 Swallow Lane Las Vegas, NV 89121

3 Beds 2 Baths 2,372 sqft Built 1977

INVESTimate

$435,000

List Price

$1,690

$1,521 - $1,859

Rent Est.

$475,759  ( +9.37%)   1 YR EST. FORECAST

PROPERTY INFO

August 20, 2020 RECENTLY ADDED
FACTS
  • Built In 1977
  • Price/Sqft : $183.39
  • 8 Days on Market
  • MLS # : 2223196
  • Updated Date : 08/22/2020 at 10:26
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,372 sqft
  • Baths : 2 full
Listing Agent

First Full Service Realty

Listing Agent's Description

Newly remodeled. This beautiful 3 bedroom 2 bath single story home features tons of upgrades! Brand new plush carpet, flooring, tile and two toned paint with modern baseboards and all new cabinets, as well as plumbing, electrical fixtures, and MORE!!! The kitchen is totally new with white shaker cabinets, an island, custom tile back splash, stainless appliances, and recessed lighting. Beautiful master bath with soak tub and shower. Family room has a beautiful brick fireplace. Sparkling pool/spa, perfect to entertain guests. Low maintenance desert landscape.

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
Lewis E. Rowe Elementary School Primary Regular 657 39 6
C W Woodbury Middle School Middle Regular 902 39 NA
Del Sol High School High Regular 2,051 73 2

Lewis E. Rowe Elementary School

  • Education Level: Primary
  • # of students: 657
  • # of teachers: 39
6
GreatSchools Rating

C W Woodbury Middle School

  • Education Level: Middle
  • # of students: 902
  • # of teachers: 39
NA
GreatSchools Rating

Del Sol High School

  • Education Level: High
  • # of students: 2,051
  • # of teachers: 73
2
GreatSchools Rating
 

$391,500$478,500$435,000

PURCHASE PRICE

$1,521$1,859$1,690

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$1.4M

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$1.4M

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,690
EXPENSES Loan Payment -$1,605
Property Tax -$172
Property Insurance -$73
Property Management Fees -$119
CASH FLOW
-$279

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.

$435,000

PROJECTED PRICE

$1,690

PROJECTED RENT

0.39%

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$121,025

INVESTMENT

$121,025

Down Payment
$108,750
Rehab Estimate
$5,750
Closing Costs
$6,525

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,605

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $108,750
Loan Amount $326,250
See What Happens When You Reinvest Cash Flow

3

YEARS SAVED

$11,861

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,690

    LIST RENT
  • $0.71

    LIST RENT PER SQFT
  • $1,737

    COMP ESTIMATED VALUE
  • $0.73

    COMP AVG. RENT PER SQFT
Comps Range
$1,525
1$1,5252$1,5503$1,5504$1,6905$1,800
$1,800
RENT COMPS ANALYSIS
  • 3188 Swallow Lane Las Vegas, NV 4
    • 3 beds 2 baths ∙ 2,372 Sqft ∙ Built 1977 3 beds 2 baths ∙ 2,372 Sqft ∙ Built 1977
    • Rent
    • Rent Per SQFT
    •  
    • $1,690
    • $0.71
    •  
  • 4332 Flagship Court Las Vegas, NV 1
    • 3 beds 2 baths ∙ 2,256 Sqft ∙ Built 1995 3 beds 2 baths ∙ 2,256 Sqft ∙ Built 1995
    LEASED 07/15/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,525
    • $0.68
    •  
  • 2646 Diamante Court Las Vegas, NV 2
    • 4 beds 3 baths ∙ 2,069 Sqft ∙ Built 1978 4 beds 3 baths ∙ 2,069 Sqft ∙ Built 1978
    LEASED 02/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $0.75
    •  
  • 4639 Kristen Lane Las Vegas, NV 3
    • 3 beds 2 baths ∙ 2,081 Sqft ∙ Built 1979 3 beds 2 baths ∙ 2,081 Sqft ∙ Built 1979
    LEASED 05/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $0.74
    •  
  • 4461 Paseo El Rio Drive Las Vegas, NV 5
    • 3 beds 3 baths ∙ 2,372 Sqft ∙ Built 1978 3 beds 3 baths ∙ 2,372 Sqft ∙ Built 1978
    LEASED 03/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $0.76
    •  
PROPERTY LISTING DETAILS
Mark T Gross
1.702.460.9600
First Full Service Realty
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2223196
Last Updated: 08/22/2020
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