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3260 Monaco Shores Drive Las Vegas, NV 89117

3 Beds 2 Baths 1,793 sqft Built 2002

$349,900

List Price

$1,620

$1.5K - $1.8K

Rent Est.

PROPERTY INFO

January 08, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2002
  • Price/Sqft : $195.15
  • 6 Days on Market
  • MLS # : 2259247
  • Updated Date : 01/09/2021 at 15:52
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,793 sqft
  • Baths : 2 full
Listing Agent

Bhhs Nevada Properties

Listing Agent's Description

Charming single story home located in Monaco, a community in the Southwest just east of Summerlin. Home features 1,793 square feet (167 meters), 3 bedrooms, 2 bathrooms, 2 car garage, sprawling floor plan with a formal living and dining room, family room, stylish kitchen with granite countertops, white cabinets with hardware, all appliances, and a plethora of cabinet and countertop space, all tile floors, vaulted ceilings, spacious bedrooms, and a pool-sized yard with low maintenance desert landscaping, a covered patio and plenty of space to entertain. This home is conveniently located near freeways, parks, schools, shopping, dining, and Downtown Summerlin.

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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)

PRICE & RENT TRENDS

Neighborhood: Monaco

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320k340k360k380kPrice in $119k389k

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

Neighborhood: Monaco

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2110011501200125013001350140014501500155016001650Rent in $10761682

* 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
Herbert A. Derfelt Elementary School Primary Regular 699 34 6
Lawrence Junior High School Middle Regular 1,421 61 NA
Spring Valley High School High Regular 1,925 79 4

Herbert A. Derfelt Elementary School

  • Education Level: Primary
  • # of students: 699
  • # 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
 

$314,910$384,890$349,900

PURCHASE PRICE

$1,458$1,782$1,620

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,620
EXPENSES Loan Payment -$1,215
Property Tax -$218
Property Insurance -$62
Property Management Fees -$119
CASH FLOW
$6

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.

$349,900

PROJECTED PRICE

$1,620

PROJECTED RENT

0.46%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.96%
Appreciation Year (1-5) 6.1%
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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$98,474

INVESTMENT

$98,474

Down Payment
$87,475
Rehab Estimate
$5,750
Closing Costs
$5,249

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,215

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $87,475
Loan Amount $262,425
See What Happens When You Reinvest Cash Flow

5.83

YEARS SAVED

$23,163

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,620

    LIST RENT
  • $0.9

    LIST RENT PER SQFT
  • $1,663

    COMP ESTIMATED VALUE
  • $0.93

    COMP AVG. RENT PER SQFT
Comps Range
$1,450
1$1,4502$1,4803$1,6204$1,7505$1,850
$1,850
RENT COMPS ANALYSIS
  • 3260 Monaco Shores Drive Las Vegas, NV 3
    • 3 beds 2 baths ∙ 1,793 Sqft ∙ Built 2002 3 beds 2 baths ∙ 1,793 Sqft ∙ Built 2002
    • Rent
    • Rent Per SQFT
    •  
    • $1,620
    • $0.90
    •  
  • 8226 Shell Beach Court Las Vegas, NV 1
    • 3 beds 2 baths ∙ 1,602 Sqft ∙ Built 2000 3 beds 2 baths ∙ 1,602 Sqft ∙ Built 2000
    LEASED 03/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $0.91
    •  
  • 8423 Montefino Court #0 Las Vegas, NV 2
    • 3 beds 3 baths ∙ 1,595 Sqft ∙ Built 2002 3 beds 3 baths ∙ 1,595 Sqft ∙ Built 2002
    LEASED 12/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,480
    • $0.93
    •  
  • 3141 Cool Forest Street Las Vegas, NV 4
    • 3 beds 3 baths ∙ 1,957 Sqft ∙ Built 2000 3 beds 3 baths ∙ 1,957 Sqft ∙ Built 2000
    LEASED 12/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.89
    •  
  • 3365 Edenville Drive Las Vegas, NV 5
    • 4 beds 3 baths ∙ 1,883 Sqft ∙ Built 1997 4 beds 3 baths ∙ 1,883 Sqft ∙ Built 1997
    LEASED 02/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $0.98
    •  
PROPERTY LISTING DETAILS
Danielle M Hess
1.702.498.5622
Bhhs Nevada Properties
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2259247
Last Updated: 01/09/2021
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