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3207 Elmwood Place Las Vegas, NV 89108

4 Beds 2 Baths 1,533 sqft Built 1954

$239,000

List Price

$1,240

$1.1K - $1.4K

Rent Est.

PROPERTY INFO

November 20, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1954
  • Price/Sqft : $155.90
  • 4 Days on Market
  • MLS # : 2249401
  • Updated Date : 11/19/2020 at 23:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,533 sqft
  • Baths : 2 full
Listing Agent

Century 21 Consolidated

Listing Agent's Description

Mid-Century charm with tons of natural light. This beautiful four bedroom, two bath home has been completely remodeled. Quarts countertops, new cabinets and stainless appliances in the kitchen, separate dining room. New paint, all new flooring throughout. Laminate in all areas, except carpet in bedrooms and tile in bathrooms. Gian back yard with covered patio and RV parking space.

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: Twin Lakes

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260k280kPrice in $80k296k

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

Neighborhood: Twin Lakes

NeighborhoodNIR Market*CityMarket2010Year20002019 Q29009501000105011001150120012501300135014001450150015501600Rent in $8871603

* 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
Twin Lakes Elementary School Primary Regular 667 31 4
Robert O. Gibson Middle School Middle Magnet 1,293 57 NA
Western High School High Regular 2,534 112 2

Twin Lakes Elementary School

  • Education Level: Primary
  • # of students: 667
  • # of teachers: 31
4
GreatSchools Rating

Robert O. Gibson Middle School

  • Education Level: Middle
  • # of students: 1,293
  • # of teachers: 57
NA
GreatSchools Rating

Western High School

  • Education Level: High
  • # of students: 2,534
  • # of teachers: 112
2
GreatSchools Rating
 

$215,100$262,900$239,000

PURCHASE PRICE

$1,116$1,364$1,240

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,240
EXPENSES Loan Payment -$882
Property Tax -$95
Property Insurance -$57
Property Management Fees -$119
CASH FLOW
$87

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.

$239,000

PROJECTED PRICE

$1,240

PROJECTED RENT

0.52%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.75%
Appreciation Year (1-5) 12.5%
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$200k$400k$600k$800k$1.0M

PROJECTED ANNUAL CASH FLOW

11530$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$69,085

INVESTMENT

$69,085

Down Payment
$59,750
Rehab Estimate
$5,750
Closing Costs
$3,585

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 40% down payment or higher enables the proceeds from the asset to cover all costs.

$882

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $59,750
Loan Amount $179,250
See What Happens When You Reinvest Cash Flow

7.5

YEARS SAVED

$26,499

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,240

    LIST RENT
  • $0.81

    LIST RENT PER SQFT
  • $1,330

    COMP ESTIMATED VALUE
  • $0.87

    COMP AVG. RENT PER SQFT
Comps Range
$1,240
1$1,2402$1,2503$1,3004$1,4005$1,475
$1,475
RENT COMPS ANALYSIS
  • 3207 Elmwood Place Las Vegas, NV 1
    • 4 beds 2 baths ∙ 1,533 Sqft ∙ Built 1954 4 beds 2 baths ∙ 1,533 Sqft ∙ Built 1954
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,240
    • $0.81
    •  
  • 1119 Ramona Circle Las Vegas, NV 2
    • 4 beds 2 baths ∙ 1,430 Sqft ∙ Built 1955 4 beds 2 baths ∙ 1,430 Sqft ∙ Built 1955
    property image
    LEASED 02/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,250
    • $0.87
    •  
  • 204 Delamar Street Las Vegas, NV 3
    • 3 beds 1 baths ∙ 1,467 Sqft ∙ Built 1960 3 beds 1 baths ∙ 1,467 Sqft ∙ Built 1960
    property image
    LEASED 11/27/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,300
    • $0.89
    •  
  • 3705 Bonanza Road Las Vegas, NV 4
    • 4 beds 2 baths ∙ 1,697 Sqft ∙ Built 1961 4 beds 2 baths ∙ 1,697 Sqft ∙ Built 1961
    property image
    LEASED 09/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,400
    • $0.82
    •  
  • 404 Delamar Las Vegas, NV 5
    • 3 beds 2 baths ∙ 1,653 Sqft ∙ Built 1960 3 beds 2 baths ∙ 1,653 Sqft ∙ Built 1960
    property image
    LEASED 06/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,475
    • $0.89
    •  
PROPERTY LISTING DETAILS
Donna R Kelton
1.702.423.3331
Century 21 Consolidated
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2249401
Last Updated: 11/19/2020
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