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3316 Ventana Hills Drive Las Vegas, NV 89117

4 Beds 3 Baths 2,196 sqft Built 1989

$410,000

List Price

$1,950

$1.8K - $2.1K

Rent Est.

PROPERTY INFO

November 14, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1989
  • Price/Sqft : $186.70
  • 3 Days on Market
  • MLS # : 2248267
  • Updated Date : 11/13/2020 at 23:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,196 sqft
  • Baths : 2 full , 1 half
Listing Agent

Realty One Group, Inc

Listing Agent's Description

Beautiful two story home in the Lakes, open floor with vaulted ceiling, fireplace in family room. Must SEE!!

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: 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
 

$369,000$451,000$410,000

PURCHASE PRICE

$1,755$2,145$1,950

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,950
EXPENSES Loan Payment -$1,513
Property Tax -$245
Property Insurance -$70
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.

$410,000

PROJECTED PRICE

$1,950

PROJECTED RENT

0.48%

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$1.4M

PROJECTED ANNUAL CASH FLOW

11530$0.0$5.0k$10k$15k$20k

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$114,400

INVESTMENT

$114,400

Down Payment
$102,500
Rehab Estimate
$5,750
Closing Costs
$6,150

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,513

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $102,500
Loan Amount $307,500
See What Happens When You Reinvest Cash Flow

6.17

YEARS SAVED

$33,891

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,950

    LIST RENT
  • $0.89

    LIST RENT PER SQFT
  • $1,916

    COMP ESTIMATED VALUE
  • $0.87

    COMP AVG. RENT PER SQFT
Comps Range
$1,795
1$1,7952$1,7953$1,8504$1,9005$1,950
$1,950
RENT COMPS ANALYSIS
  • 3316 Ventana Hills Drive Las Vegas, NV 5
    • 4 beds 3 baths ∙ 2,196 Sqft ∙ Built 1989 4 beds 3 baths ∙ 2,196 Sqft ∙ Built 1989
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $0.89
    •  
  • 9045 Cypress Point Way Las Vegas, NV 1
    • 4 beds 3 baths ∙ 2,034 Sqft ∙ Built 1988 4 beds 3 baths ∙ 2,034 Sqft ∙ Built 1988
    property image
    LEASED 10/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,795
    • $0.88
    •  
  • 9317 Ricardo Ln Las Vegas, NV 2
    • 4 beds 3 baths ∙ 2,123 Sqft ∙ Built 1988 4 beds 3 baths ∙ 2,123 Sqft ∙ Built 1988
    property image
    LEASED 11/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,795
    • $0.85
    •  
  • 3224 Ventana Hills Drive Las Vegas, NV 3
    • 3 beds 3 baths ∙ 2,123 Sqft ∙ Built 1987 3 beds 3 baths ∙ 2,123 Sqft ∙ Built 1987
    property image
    LEASED 03/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $0.87
    •  
  • 3205 Beacon Shores Circle Las Vegas, NV 4
    • 3 beds 3 baths ∙ 2,123 Sqft ∙ Built 1987 3 beds 3 baths ∙ 2,123 Sqft ∙ Built 1987
    property image
    LEASED 10/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,900
    • $0.89
    •  
PROPERTY LISTING DETAILS
Meline Hakobyan
1.702.767.8595
Realty One Group, Inc
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2248267
Last Updated: 11/13/2020
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