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3316 West King Elder Street Las Vegas, NV 89117

3 Beds 1 Baths 1,389 sqft Built 1999

$318,000

List Price

$1,550

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

January 12, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1999
  • Price/Sqft : $228.94
  • 7 Days on Market
  • MLS # : 2260752
  • Updated Date : 01/15/2021 at 20:55
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,389 sqft
  • Baths : 1 full
Listing Agent

Keller Williams Realty Sw

Listing Agent's Description

Wonderful Single story home in a Prime location close to All. Minutes from great shopping and Downtown Summerlin. House exterior and interior freshly painted. Brand new kitchen appliances with newly reconditioned cabinets and Quartz Countertops.. Primary bedroom with a generous bath and walk-in closet. Nicely tiled guest bath equipped with a Jaccuzzi Tub. Desert landscape surrounds the house with a wonderful full length covered patio for entertaining. Separate Laundry Room with closet. Garage is equipped with overhead storage. This is a turn key Gem that will not last!!. Thank you for showing.

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: Spring Valley

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280kPrice in $119k296k

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

Neighborhood: Spring Valley

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2105011001150120012501300135014001450150015501600Rent in $10381606

* 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
Keith And Karen Hayes Elementary School Primary Regular 804 40 9
Victoria Fertitta Middle School Middle Regular 1,472 60 NA
Spring Valley High School High Regular 1,925 79 4

Keith And Karen Hayes Elementary School

  • Education Level: Primary
  • # of students: 804
  • # of teachers: 40
9
GreatSchools Rating

Victoria Fertitta Middle School

  • Education Level: Middle
  • # of students: 1,472
  • # of teachers: 60
NA
GreatSchools Rating

Spring Valley High School

  • Education Level: High
  • # of students: 1,925
  • # of teachers: 79
4
GreatSchools Rating
 

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

PURCHASE PRICE

$1,395$1,705$1,550

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,550
EXPENSES Loan Payment -$1,105
Property Tax -$184
Property Insurance -$54
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

$1,550

PROJECTED RENT

0.49%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.96%
Appreciation Year (1-5) 9.9%
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 45% down payment or higher enables the proceeds from the asset to cover all costs.

$1,105

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $79,500
Loan Amount $238,500
See What Happens When You Reinvest Cash Flow

7.42

YEARS SAVED

$29,160

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,550

    LIST RENT
  • $1.12

    LIST RENT PER SQFT
  • $1,431

    COMP ESTIMATED VALUE
  • $1.03

    COMP AVG. RENT PER SQFT
Comps Range
$1,300
1$1,3002$1,3503$1,5504$1,5755$1,695
$1,695
RENT COMPS ANALYSIS
  • 3316 West King Elder Street Las Vegas, NV 3
    • 3 beds 1 baths ∙ 1,389 Sqft ∙ Built 1999 3 beds 1 baths ∙ 1,389 Sqft ∙ Built 1999
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $1.12
    •  
  • 3269 Fossil Springs Street Las Vegas, NV 1
    • 3 beds 2 baths ∙ 1,291 Sqft ∙ Built 2000 3 beds 2 baths ∙ 1,291 Sqft ∙ Built 2000
    LEASED 03/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,300
    • $1.01
    •  
  • 3328 Robin Nest Las Vegas, NV 2
    • 3 beds 3 baths ∙ 1,361 Sqft ∙ Built 1996 3 beds 3 baths ∙ 1,361 Sqft ∙ Built 1996
    LEASED 04/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,350
    • $0.99
    •  
  • 3321 Lark Bunting Street Las Vegas, NV 4
    • 3 beds 3 baths ∙ 1,507 Sqft ∙ Built 1999 3 beds 3 baths ∙ 1,507 Sqft ∙ Built 1999
    LEASED 07/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,575
    • $1.05
    •  
  • 3352 Lark Bunting Las Vegas, NV 5
    • 3 beds 2 baths ∙ 1,582 Sqft ∙ Built 1998 3 beds 2 baths ∙ 1,582 Sqft ∙ Built 1998
    LEASED 06/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $1.07
    •  
PROPERTY LISTING DETAILS
John C Barbasso
1.702.622.0755
Keller Williams Realty Sw
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2260752
Last Updated: 01/15/2021
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