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3216 Shallow Point Circle Las Vegas, NV 89117

2 Beds 2 Baths 1,289 sqft Built 1988

$292,795

List Price

$1,330

$1.2K - $1.5K

Rent Est.

PROPERTY INFO

November 02, 2020 RECENTLY ADDED
FACTS
  • Built In 1988
  • Price/Sqft : $227.15
  • 2 Days on Market
  • MLS # : 2244210
  • Updated Date : 11/02/2020 at 17:00
CONSTRUCTION
  • Beds : 2
  • Floor Size : 1,289 sqft
  • Baths : 2 full
Listing Agent

Keller Williams Realty Las Vegas

Listing Agent's Description

This Well maintained home near Summerlin without the more expensive assn fees in The Lakes has been Recently Renovated/updated. Features include: NEW paint & flooring throughout and White kitchen cabinets. Fresh newer floors throughout entire home, recently replumbed entire home. Primary bedroom with backyard access and large walk in closet. Separate laundry room. The backyard is larger than most backyards with covered patio and still room for a pool.

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: The Section Seven

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320k340k360kPrice in $119k377k

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

Neighborhood: The Section Seven

NeighborhoodNIR Market*CityMarket2010Year20002019 Q211001200130014001500160017001800Rent in $10761875

* 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
Bonanza High School High Regular 2,003 83 3

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

Bonanza High School

  • Education Level: High
  • # of students: 2,003
  • # of teachers: 83
3
GreatSchools Rating
 

$263,516$322,075$292,795

PURCHASE PRICE

$1,197$1,463$1,330

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,330
EXPENSES Loan Payment -$1,080
Property Tax -$179
Property Insurance -$52
Property Management Fees -$119
CASH FLOW
-$101

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.

$292,795

PROJECTED PRICE

$1,330

PROJECTED RENT

0.45%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.05%
Appreciation Year (1-5) 8.4%
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$200k$400k$600k$800k$1.0M

PROJECTED ANNUAL CASH FLOW

11530-$4.0k-$2.0k$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$83,341

INVESTMENT

$83,341

Down Payment
$73,199
Rehab Estimate
$5,750
Closing Costs
$4,392

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,080

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $73,199
Loan Amount $219,596
See What Happens When You Reinvest Cash Flow

4.42

YEARS SAVED

$14,731

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,330

    LIST RENT
  • $1.03

    LIST RENT PER SQFT
  • $1,324

    COMP ESTIMATED VALUE
  • $1.03

    COMP AVG. RENT PER SQFT
Comps Range
$1,300
1$1,3002$1,3303$1,3954$1,4955$1,495
$1,495
RENT COMPS ANALYSIS
  • 3216 Shallow Point Circle Las Vegas, NV 2
    • 2 beds 2 baths ∙ 1,289 Sqft ∙ Built 1988 2 beds 2 baths ∙ 1,289 Sqft ∙ Built 1988
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,330
    • $1.03
    •  
  • 10046 Catalina Canyon Avenue #0 Las Vegas, NV 1
    • 2 beds 1 baths ∙ 1,249 Sqft ∙ Built 1998 2 beds 1 baths ∙ 1,249 Sqft ∙ Built 1998
    property image
    LEASED 02/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,300
    • $1.04
    •  
  • 8849 Clear Blue Drive Las Vegas, NV 3
    • 2 beds 3 baths ∙ 1,389 Sqft ∙ Built 1987 2 beds 3 baths ∙ 1,389 Sqft ∙ Built 1987
    property image
    LEASED 12/17/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,395
    • $1.00
    •  
  • 9309 Ricardo Lane #- Las Vegas, NV 4
    • 2 beds 2 baths ∙ 1,444 Sqft ∙ Built 1988 2 beds 2 baths ∙ 1,444 Sqft ∙ Built 1988
    property image
    LEASED 12/06/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,495
    • $1.04
    •  
  • 3560 Judah Way Las Vegas, NV 5
    • 2 beds 2 baths ∙ 1,450 Sqft ∙ Built 1994 2 beds 2 baths ∙ 1,450 Sqft ∙ Built 1994
    property image
    LEASED 09/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,495
    • $1.03
    •  
PROPERTY LISTING DETAILS
Javier M Mendez
1.702.241.0909
Keller Williams Realty Las Vegas
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2244210
Last Updated: 11/02/2020
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