Work with a dedicated Real Estate Advisor who will take your financial preferences and help you select and acquire properties that fit your criteria. Learn more

3319 Shallow Pond Drive Las Vegas, NV 89117

5 Beds 2 Baths 3,661 sqft Built 1991

INVESTimate

$512,000

List Price

$2,560

$2,310 - $2,810

Rent Est.

$562,739  ( +9.91%)   1 YR EST. FORECAST

PROPERTY INFO

FACTS
  • Built In 1991
  • Price/Sqft : $139.85
  • 10 Days on Market
  • MLS # : 2222656
  • Updated Date : 08/17/2020 at 17:00
CONSTRUCTION
  • Beds : 5
  • Floor Size : 3,661 sqft
  • Baths : 2 full
Listing Agent

Nationwide Realty Llc

Listing Agent's Description

GREAT SW AREA- AT THE LAKES! GORGEOUS HIGH CEILING AT THE ENTRANCE AND THE LIVING ROOM. FIRST FLOOR FLOORING IS REAL WOOD AND 20"TILES. GRANITE COUNTER TOPS IN THE KITCHEN, BATHROOMS & THE WET BAR. FIREPLACE IN THE FAMILY ROOM, MASTER BDRM & BATH. BDRM & BATH DOWNSTAIRS. MASTER BATHROOM WITH VESSEL SINKS, JACUZZI, HUGE WALK-IN CLOSET. A FEW DIFFERENT LEVELS INSIDE AND ALL ARCHITECTURAL PLAN MAKE THE HOUSE UNUSUAL AND GORGEOUS!

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: 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
 

$460,800$563,200$512,000

PURCHASE PRICE

$2,304$2,816$2,560

RENT

DOWN PAYMENT
FINANCING

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$500k$1.0M$1.5M$2.0M

PROJECTED ANNUAL CASH FLOW

11530$0.0$5.0k$10k$15k$20k$25k$30k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M$1.6M$1.8M

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,560
EXPENSES Loan Payment -$1,889
Property Tax -$290
Property Insurance -$98
Property Management Fees -$119
CASH FLOW
$164

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.

$512,000

PROJECTED PRICE

$2,560

PROJECTED RENT

0.50%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.96%
Appreciation Year (1-5) 9.91%
Maintenance Year (1-5) 8.00%
Vacancy 7.63%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$141,430

INVESTMENT

$141,430

Down Payment
$128,000
Rehab Estimate
$5,750
Closing Costs
$7,680

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 40% down payment or higher enables the proceeds from the asset to cover all costs.

$1,889

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $128,000
Loan Amount $384,000
See What Happens When You Reinvest Cash Flow

7.58

YEARS SAVED

$58,659

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,560

    LIST RENT
  • $0.7

    LIST RENT PER SQFT
  • $2,801

    COMP ESTIMATED VALUE
  • $0.76

    COMP AVG. RENT PER SQFT
Comps Range
$2,350
1$2,3502$2,5603$2,7004$2,9005$3,000
$3,000
RENT COMPS ANALYSIS
  • 3319 Shallow Pond Drive Las Vegas, NV 2
    • 5 beds 2 baths ∙ 3,661 Sqft ∙ Built 1991 5 beds 2 baths ∙ 3,661 Sqft ∙ Built 1991
    • Rent
    • Rent Per SQFT
    •  
    • $2,560
    • $0.70
    •  
  • 3310 Shallow Pond Drive Las Vegas, NV 1
    • 5 beds 3 baths ∙ 3,661 Sqft ∙ Built 1991 5 beds 3 baths ∙ 3,661 Sqft ∙ Built 1991
    LEASED 07/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,350
    • $0.64
    •  
  • 3017 High Tide Las Vegas, NV 3
    • 4 beds 2 baths ∙ 3,557 Sqft ∙ Built 1989 4 beds 2 baths ∙ 3,557 Sqft ∙ Built 1989
    LEASED 08/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,700
    • $0.76
    •  
  • 9312 Angelfish Drive Las Vegas, NV 4
    • 4 beds 3 baths ∙ 3,557 Sqft ∙ Built 1989 4 beds 3 baths ∙ 3,557 Sqft ∙ Built 1989
    LEASED 03/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,900
    • $0.82
    •  
  • 3013 Periscope Court Las Vegas, NV 5
    • 6 beds 2 baths ∙ 3,557 Sqft ∙ Built 1989 6 beds 2 baths ∙ 3,557 Sqft ∙ Built 1989
    LEASED 08/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,000
    • $0.84
    •  
PROPERTY LISTING DETAILS
Chrissy Zarpas
1.702.334.0334
Nationwide Realty Llc
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2222656
Last Updated: 08/17/2020
BESbswy