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3316 Surfline Drive Las Vegas, NV 89117

3 Beds 3 Baths 1,621 sqft Built 1989

$350,000

List Price

$1,630

$1.5K - $1.8K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
February 25, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1989
  • Price/Sqft : $215.92
  • 4 Days on Market
  • MLS # : 2272849
  • Updated Date : 02/25/2021 at 11:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,621 sqft
  • Baths : 2 full , 1 half
Listing Agent

The Property Management Firm

Listing Agent's Description

Charming two story 3bd, 2.5bth home in The Lakes off Desert Inn Rd and Fort Apache.

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
 

$315,000$385,000$350,000

PURCHASE PRICE

$1,467$1,793$1,630

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,630
EXPENSES Loan Payment -$1,216
Property Tax -$219
Property Insurance -$59
Property Management Fees -$119
CASH FLOW
$17

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.

$350,000

PROJECTED PRICE

$1,630

PROJECTED RENT

0.47%

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$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$98,500

INVESTMENT

$98,500

Down Payment
$87,500
Rehab Estimate
$5,750
Closing Costs
$5,250

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,216

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $87,500
Loan Amount $262,500
See What Happens When You Reinvest Cash Flow

6.25

YEARS SAVED

$24,933

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,630

    LIST RENT
  • $1.01

    LIST RENT PER SQFT
  • $1,613

    COMP ESTIMATED VALUE
  • $1

    COMP AVG. RENT PER SQFT
Comps Range
$1,450
1$1,4502$1,5303$1,6304$1,7005$1,750
$1,750
RENT COMPS ANALYSIS
  • 3316 Surfline Drive Las Vegas, NV 3
    • 3 beds 3 baths ∙ 1,621 Sqft ∙ Built 1989 3 beds 3 baths ∙ 1,621 Sqft ∙ Built 1989
    • Rent
    • Rent Per SQFT
    •  
    • $1,630
    • $1.01
    •  
  • 3313 Ventana Hills Drive Las Vegas, NV 1
    • 3 beds 1 baths ∙ 1,444 Sqft ∙ Built 1989 3 beds 1 baths ∙ 1,444 Sqft ∙ Built 1989
    LEASED 01/01/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $1.00
    •  
  • 9516 Wooden Pier Way Las Vegas, NV 2
    • 3 beds 3 baths ∙ 1,609 Sqft ∙ Built 1989 3 beds 3 baths ∙ 1,609 Sqft ∙ Built 1989
    LEASED 05/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,530
    • $0.95
    •  
  • 9409 Shellfish Court Las Vegas, NV 4
    • 3 beds 2 baths ∙ 1,608 Sqft ∙ Built 1989 3 beds 2 baths ∙ 1,608 Sqft ∙ Built 1989
    LEASED 01/31/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $1.06
    •  
  • 3229 Canyon Lake Drive #0 Las Vegas, NV 5
    • 3 beds 3 baths ∙ 1,804 Sqft ∙ Built 1988 3 beds 3 baths ∙ 1,804 Sqft ∙ Built 1988
    LEASED 11/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.97
    •  
PROPERTY LISTING DETAILS
Matthew D Gambill
1.725.400.6677
The Property Management Firm
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2272849
Last Updated: 02/25/2021
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