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3220 Lindell Road Las Vegas, NV 89146

3 Beds 1 Baths 1,690 sqft Built 1979

$335,000

List Price

$1,490

$1.3K - $1.6K

Rent Est.

PROPERTY INFO

January 31, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1979
  • Price/Sqft : $198.22
  • 7 Days on Market
  • MLS # : 2265579
  • Updated Date : 01/31/2021 at 06:09
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,690 sqft
  • Baths : 1 full
Listing Agent

Garden Realty Llc

Listing Agent's Description

Great single story home! 1,690 Sqf W/3 bedroom, 1 den, 2 baths & 2 car garage. Formal living room w/ cathedral Vaulted ceilings! Open kitchen w/ garden window & breakfast bar off family room! The large den could be used for another bdrm or craft/workroom! Backyard W/over size pool, mature landscaping & covered patio.......

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: Spring Valley

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280kPrice in $119k296k

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

Neighborhood: Spring Valley

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2105011001150120012501300135014001450150015501600Rent in $10381606

* 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
Dr C. Owen Roundy Elementary School Primary Regular 876 49 5
Kenny C. Guinn Middle School Middle Regular 820 40 NA
Ed W. Clark High School High Magnet 3,066 129 7

Dr C. Owen Roundy Elementary School

  • Education Level: Primary
  • # of students: 876
  • # of teachers: 49
5
GreatSchools Rating

Kenny C. Guinn Middle School

  • Education Level: Middle
  • # of students: 820
  • # of teachers: 40
NA
GreatSchools Rating

Ed W. Clark High School

  • Education Level: High
  • # of students: 3,066
  • # of teachers: 129
7
GreatSchools Rating
 

$301,500$368,500$335,000

PURCHASE PRICE

$1,341$1,639$1,490

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,490
EXPENSES Loan Payment -$1,164
Property Tax -$151
Property Insurance -$60
Property Management Fees -$119
CASH FLOW
-$3

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.

$335,000

PROJECTED PRICE

$1,490

PROJECTED RENT

0.44%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.96%
Appreciation Year (1-5) 9.9%
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

PROJECTED ANNUAL CASH FLOW

11530$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$94,525

INVESTMENT

$94,525

Down Payment
$83,750
Rehab Estimate
$5,750
Closing Costs
$5,025

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 45% down payment or higher enables the proceeds from the asset to cover all costs.

$1,164

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $83,750
Loan Amount $251,250
See What Happens When You Reinvest Cash Flow

5.83

YEARS SAVED

$22,161

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,490

    LIST RENT
  • $0.88

    LIST RENT PER SQFT
  • $1,546

    COMP ESTIMATED VALUE
  • $0.92

    COMP AVG. RENT PER SQFT
Comps Range
$1,395
1$1,3952$1,4303$1,4904$1,5005$1,595
$1,595
RENT COMPS ANALYSIS
  • 3220 Lindell Road Las Vegas, NV 3
    • 3 beds 1 baths ∙ 1,690 Sqft ∙ Built 1979 3 beds 1 baths ∙ 1,690 Sqft ∙ Built 1979
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,490
    • $0.88
    •  
  • 2870 Mohawk Street Las Vegas, NV 1
    • 3 beds 1 baths ∙ 1,578 Sqft ∙ Built 1981 3 beds 1 baths ∙ 1,578 Sqft ∙ Built 1981
    property image
    LEASED 01/09/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,395
    • $0.88
    •  
  • 3009 Matterhorn Way #- Las Vegas, NV 2
    • 4 beds 2 baths ∙ 1,586 Sqft ∙ Built 1963 4 beds 2 baths ∙ 1,586 Sqft ∙ Built 1963
    property image
    LEASED 09/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,430
    • $0.90
    •  
  • 3235 Mountain Spring Road Las Vegas, NV 4
    • 3 beds 1 baths ∙ 1,576 Sqft ∙ Built 1978 3 beds 1 baths ∙ 1,576 Sqft ∙ Built 1978
    property image
    LEASED 08/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $0.95
    •  
  • 3631 Edinburgh Drive Las Vegas, NV 5
    • 3 beds 1 baths ∙ 1,724 Sqft ∙ Built 1985 3 beds 1 baths ∙ 1,724 Sqft ∙ Built 1985
    property image
    LEASED 12/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $0.93
    •  
PROPERTY LISTING DETAILS
Michael M Cheung
1.702.480.7234
Garden Realty Llc
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2265579
Last Updated: 01/31/2021
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