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3200 Mariner Bay Street Las Vegas, NV 89117

4 Beds 3 Baths 2,034 sqft Built 1985

$375,000

List Price

$1,730

$1.6K - $1.9K

Rent Est.

PROPERTY INFO

November 21, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1985
  • Price/Sqft : $184.37
  • 3 Days on Market
  • MLS # : 2249849
  • Updated Date : 11/20/2020 at 18:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,034 sqft
  • Baths : 2 full , 1 half
Listing Agent

Bhhs Nevada Properties

Listing Agent's Description

BEAUTIFULLY UPDATED HOME IN THE LAKES. NEW Laminate Flooring, NEW Carpet, NEW two-tone paint, NEW Kitchen Cabinets, NEW Granite counters, NEW Stainless Steel Appliances! Separate formal Living Room off front entry and Dining Room with bay window overlooking back yard. Family room features fireplace with hearth and mantel. Upstairs you will find 3 secondary bedrooms with carpet and vaulted ceilings and a large Master Bedroom with carpet, ceiling fan and vaulted ceilings. Master bath features new cabinets, double sinks, solid surface counters, new fixtures, separate tub and shower, and LARGE walk-in closet. Backyard features large patio, NEW turf, several palms and is elevated over the homes behind. Great location to shopping, restaurants, and park & recreation.

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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)

PRICE & RENT TRENDS

Neighborhood: West Sahara

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300kPrice in $119k308k

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

Neighborhood: West Sahara

NeighborhoodNIR Market*CityMarket2010Year20002019 Q211001150120012501300135014001450150015501600Rent in $10621618

* 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
 

$337,500$412,500$375,000

PURCHASE PRICE

$1,557$1,903$1,730

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,730
EXPENSES Loan Payment -$1,384
Property Tax -$178
Property Insurance -$67
Property Management Fees -$119
CASH FLOW
-$18

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.

$375,000

PROJECTED PRICE

$1,730

PROJECTED RENT

0.46%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.96%
Appreciation Year (1-5) 10.0%
Maintenance Year (1-5) 8.00%
Vacancy 7.63%
Length of Stay Years 2

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$0.0$5.0k$10k$15k$20k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$105,125

INVESTMENT

$105,125

Down Payment
$93,750
Rehab Estimate
$5,750
Closing Costs
$5,625

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 50% down payment or higher enables the proceeds from the asset to cover all costs.

$1,384

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $93,750
Loan Amount $281,250
See What Happens When You Reinvest Cash Flow

5.75

YEARS SAVED

$28,721

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,730

    LIST RENT
  • $0.85

    LIST RENT PER SQFT
  • $1,948

    COMP ESTIMATED VALUE
  • $0.96

    COMP AVG. RENT PER SQFT
Comps Range
$1,730
1$1,7302$1,7503$1,7954$1,9505$2,350
$2,350
RENT COMPS ANALYSIS
  • 3200 Mariner Bay Street Las Vegas, NV 1
    • 4 beds 3 baths ∙ 2,034 Sqft ∙ Built 1985 4 beds 3 baths ∙ 2,034 Sqft ∙ Built 1985
    • Rent
    • Rent Per SQFT
    •  
    • $1,730
    • $0.85
    •  
  • 3040 Misty Harbour Drive Las Vegas, NV 2
    • 3 beds 3 baths ∙ 1,929 Sqft ∙ Built 1989 3 beds 3 baths ∙ 1,929 Sqft ∙ Built 1989
    LEASED 10/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.91
    •  
  • 3368 Stacey Lyn Las Vegas, NV 3
    • 4 beds 3 baths ∙ 1,913 Sqft ∙ Built 1993 4 beds 3 baths ∙ 1,913 Sqft ∙ Built 1993
    LEASED 05/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,795
    • $0.94
    •  
  • 3061 Yankee Clipper Drive Las Vegas, NV 4
    • 3 beds 3 baths ∙ 2,165 Sqft ∙ Built 1994 3 beds 3 baths ∙ 2,165 Sqft ∙ Built 1994
    LEASED 12/12/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $0.90
    •  
  • 8700 Captains Place Las Vegas, NV 5
    • 4 beds 4 baths ∙ 2,173 Sqft ∙ Built 1985 4 beds 4 baths ∙ 2,173 Sqft ∙ Built 1985
    LEASED 08/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,350
    • $1.08
    •  
PROPERTY LISTING DETAILS
Avichai Dan Goor
1.702.497.3815
Bhhs Nevada Properties
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2249849
Last Updated: 11/20/2020
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