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3228 Aspinwall Court North Las Vegas, NV 89081

5 Beds 2 Baths 2,784 sqft Built 2005

$369,990

List Price

$1,680

$1.5K - $1.8K

Rent Est.

PROPERTY INFO

December 23, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2005
  • Price/Sqft : $132.90
  • 6 Days on Market
  • MLS # : 2257101
  • Updated Date : 12/22/2020 at 18:00
CONSTRUCTION
  • Beds : 5
  • Floor Size : 2,784 sqft
  • Baths : 2 full
Listing Agent

Prominent Realty Group Llc

Listing Agent's Description

Move in ready house with bright and open floor plan. Laminate wood flooring throughout and tile on kitchen and bathrooms. Two full bath and bath with shower on first floor next to bedroom downstairs. Five bedrooms with large loft that is used as sixth bedroom. Covered patio in backyard has synthetic grass. Stainless steel kitchen appliances and upgraded washer and dryer included with refrigerator.. Security cameras installed and conveys with property.Furniture is negotiable if buyer is interested. Property is close to park.

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: Shadow Springs

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260k280k300kPrice in $84k307k

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

Neighborhood: Shadow Springs

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21000105011001150120012501300135014001450150015501600Rent in $9651603

* 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
John Tartan Elementary School Primary Regular 637 37 3
Carroll M Johnston Middle School Middle Regular 1,365 58 NA
Legacy High School High Regular 2,819 119 3

John Tartan Elementary School

  • Education Level: Primary
  • # of students: 637
  • # of teachers: 37
3
GreatSchools Rating

Carroll M Johnston Middle School

  • Education Level: Middle
  • # of students: 1,365
  • # of teachers: 58
NA
GreatSchools Rating

Legacy High School

  • Education Level: High
  • # of students: 2,819
  • # of teachers: 119
3
GreatSchools Rating
 

$332,991$406,989$369,990

PURCHASE PRICE

$1,512$1,848$1,680

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,680
EXPENSES Loan Payment -$1,365
Property Tax -$299
Property Insurance -$81
Property Management Fees -$119
CASH FLOW
-$184

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.

$369,990

PROJECTED PRICE

$1,680

PROJECTED RENT

0.45%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.75%
Appreciation Year (1-5) 10.7%
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$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$103,797

INVESTMENT

$103,797

Down Payment
$92,498
Rehab Estimate
$5,750
Closing Costs
$5,550

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,365

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $92,498
Loan Amount $277,493
See What Happens When You Reinvest Cash Flow

3

YEARS SAVED

$10,174

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,680

    LIST RENT
  • $0.6

    LIST RENT PER SQFT
  • $1,705

    COMP ESTIMATED VALUE
  • $0.61

    COMP AVG. RENT PER SQFT
Comps Range
$1,675
1$1,6752$1,6803$1,6994$1,7505$1,775
$1,775
RENT COMPS ANALYSIS
  • 3228 Aspinwall Court North Las Vegas, NV 2
    • 4 beds 3 baths ∙ 2,784 Sqft ∙ Built 2005 4 beds 3 baths ∙ 2,784 Sqft ∙ Built 2005
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,680
    • $0.60
    •  
  • 3428 Barada Heights Avenue North Las Vegas, NV 1
    • 4 beds 3 baths ∙ 2,809 Sqft ∙ Built 2005 4 beds 3 baths ∙ 2,809 Sqft ∙ Built 2005
    property image
    LEASED 09/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,675
    • $0.60
    •  
  • 3129 Little Crimson Avenue #0 North Las Vegas, NV 3
    • 4 beds 3 baths ∙ 2,942 Sqft ∙ Built 2006 4 beds 3 baths ∙ 2,942 Sqft ∙ Built 2006
    property image
    LEASED 05/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,699
    • $0.58
    •  
  • 3329 Conterra Park Avenue North Las Vegas, NV 4
    • 4 beds 4 baths ∙ 2,784 Sqft ∙ Built 2005 4 beds 4 baths ∙ 2,784 Sqft ∙ Built 2005
    property image
    LEASED 06/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.63
    •  
  • 3149 Hartley Cove Avenue North Las Vegas, NV 5
    • 5 beds 3 baths ∙ 2,784 Sqft ∙ Built 2004 5 beds 3 baths ∙ 2,784 Sqft ∙ Built 2004
    property image
    LEASED 03/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,775
    • $0.64
    •  
PROPERTY LISTING DETAILS
Mercedes V Losbanos
1.702.355.0182
Prominent Realty Group Llc
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2257101
Last Updated: 12/22/2020
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