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3313 Salmon Creek Drive Las Vegas, NV 89129

3 Beds 3 Baths 1,721 sqft Built 1995

$318,000

List Price

$1,450

$1.3K - $1.6K

Rent Est.

PROPERTY INFO

December 04, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1995
  • Price/Sqft : $184.78
  • 3 Days on Market
  • MLS # : 2253493
  • Updated Date : 12/04/2020 at 12:30
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,721 sqft
  • Baths : 2 full , 1 half
Listing Agent

Las Vegas Realty Llc

Listing Agent's Description

No HOA! ** Exterior two-story w/ NO HOA is situated in Lone Mountain neighborhood in Northwest. Newly installed luxury waterproof vinyl plank flooring and baseboards for all rooms. Re-plumbed all shower upstairs. Newly installed master shower and shared bath shower wall. Collage tiles throughout the first floor and the bathrooms. Eating kitchen tile countertop good for 5 people sitting. Large walk-in closet in the master room. Pool-size backyard for the whole family to enjoy! their summertime!

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: Lone Mountain

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320kPrice in $119k326k

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

Neighborhood: Lone Mountain

NeighborhoodNIR Market*CityMarket2010Year20002019 Q211001150120012501300135014001450150015501600Rent in $10701616

* 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
Edith Garehime Elementary School Primary Regular 631 32 7
Justice M E Leavitt Middle School Middle Regular 1,496 64 NA
Centennial High School High Regular 3,055 124 6

Edith Garehime Elementary School

  • Education Level: Primary
  • # of students: 631
  • # of teachers: 32
7
GreatSchools Rating

Justice M E Leavitt Middle School

  • Education Level: Middle
  • # of students: 1,496
  • # of teachers: 64
NA
GreatSchools Rating

Centennial High School

  • Education Level: High
  • # of students: 3,055
  • # of teachers: 124
6
GreatSchools Rating
 

$286,200$349,800$318,000

PURCHASE PRICE

$1,305$1,595$1,450

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,450
EXPENSES Loan Payment -$1,173
Property Tax -$185
Property Insurance -$61
Property Management Fees -$119
CASH FLOW
-$88

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.

$318,000

PROJECTED PRICE

$1,450

PROJECTED RENT

0.46%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.96%
Appreciation Year (1-5) 10.3%
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$90,020

INVESTMENT

$90,020

Down Payment
$79,500
Rehab Estimate
$5,750
Closing Costs
$4,770

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 50% down payment or higher enables the proceeds from the asset to cover all costs.

$1,173

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $79,500
Loan Amount $238,500
See What Happens When You Reinvest Cash Flow

4.58

YEARS SAVED

$17,202

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,450

    LIST RENT
  • $0.84

    LIST RENT PER SQFT
  • $1,463

    COMP ESTIMATED VALUE
  • $0.85

    COMP AVG. RENT PER SQFT
Comps Range
$1,400
1$1,4002$1,4503$1,4954$1,5505$1,599
$1,599
RENT COMPS ANALYSIS
  • 3313 Salmon Creek Drive Las Vegas, NV 2
    • 3 beds 3 baths ∙ 1,721 Sqft ∙ Built 1995 3 beds 3 baths ∙ 1,721 Sqft ∙ Built 1995
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $0.84
    •  
  • 9429 Deer Lodge Lane #0 Las Vegas, NV 1
    • 3 beds 3 baths ∙ 1,721 Sqft ∙ Built 1995 3 beds 3 baths ∙ 1,721 Sqft ∙ Built 1995
    LEASED 01/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,400
    • $0.81
    •  
  • 9173 Sparklewood Court #0 Las Vegas, NV 3
    • 4 beds 3 baths ∙ 1,659 Sqft ∙ Built 1995 4 beds 3 baths ∙ 1,659 Sqft ∙ Built 1995
    LEASED 07/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,495
    • $0.90
    •  
  • 3316 Salmon Creek Drive #0 Las Vegas, NV 4
    • 3 beds 3 baths ∙ 1,870 Sqft ∙ Built 1996 3 beds 3 baths ∙ 1,870 Sqft ∙ Built 1996
    LEASED 10/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $0.83
    •  
  • 9412 Tall Wood Lane Las Vegas, NV 5
    • 3 beds 3 baths ∙ 1,870 Sqft ∙ Built 1996 3 beds 3 baths ∙ 1,870 Sqft ∙ Built 1996
    LEASED 01/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,599
    • $0.86
    •  
PROPERTY LISTING DETAILS
Sarah Lin
1.702.406.9797
Las Vegas Realty Llc
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2253493
Last Updated: 12/04/2020
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