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3321 Surfline Drive Las Vegas, NV 89117

3 Beds 2 Baths 1,385 sqft Built 1989

$329,800

List Price

$1,500

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

FACTS
  • Single Family
  • Built In 1989
  • Price/Sqft : $238.12
  • 34 Days on Market
  • MLS # : 2251703
  • Updated Date : 01/03/2021 at 01:46
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,385 sqft
  • Baths : 2 full
Listing Agent

All Access Realty & Property M

Listing Agent's Description

Welcome home! Lovely single story in a highly sought out area at The Lakes with low HOA. Features three bedrooms, two full baths, fireplace in the living room, tile flooring throughout and small carpet area in the living room, custom shower tile, ceiling fans, blinds, water softener and three car garage. Large covered patio and Spa great for entertaining.

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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)

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
 

$296,820$362,780$329,800

PURCHASE PRICE

$1,350$1,650$1,500

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,500
EXPENSES Loan Payment -$1,217
Property Tax -$192
Property Insurance -$54
Property Management Fees -$119
CASH FLOW
-$81

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.

$329,800

PROJECTED PRICE

$1,500

PROJECTED RENT

0.45%

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$93,147

INVESTMENT

$93,147

Down Payment
$82,450
Rehab Estimate
$5,750
Closing Costs
$4,947

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,217

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $82,450
Loan Amount $247,350
See What Happens When You Reinvest Cash Flow

4.92

YEARS SAVED

$19,361

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,500

    LIST RENT
  • $1.08

    LIST RENT PER SQFT
  • $1,399

    COMP ESTIMATED VALUE
  • $1.01

    COMP AVG. RENT PER SQFT
Comps Range
$1,350
1$1,3502$1,4503$1,4954$1,5005$1,500
$1,500
RENT COMPS ANALYSIS
  • 3321 Surfline Drive Las Vegas, NV 5
    • 3 beds 2 baths ∙ 1,385 Sqft ∙ Built 1989 3 beds 2 baths ∙ 1,385 Sqft ∙ Built 1989
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $1.08
    •  
  • 3328 Robin Nest Las Vegas, NV 1
    • 3 beds 3 baths ∙ 1,361 Sqft ∙ Built 1996 3 beds 3 baths ∙ 1,361 Sqft ∙ Built 1996
    property image
    LEASED 04/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,350
    • $0.99
    •  
  • 3137 Clamdigger Lane Las Vegas, NV 2
    • 3 beds 2 baths ∙ 1,450 Sqft ∙ Built 1987 3 beds 2 baths ∙ 1,450 Sqft ∙ Built 1987
    property image
    LEASED 03/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $1.00
    •  
  • 3320 Shipmate Drive Las Vegas, NV 3
    • 3 beds 2 baths ∙ 1,386 Sqft ∙ Built 1988 3 beds 2 baths ∙ 1,386 Sqft ∙ Built 1988
    property image
    LEASED 07/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,495
    • $1.08
    •  
  • 3382 Syvella Court Las Vegas, NV 4
    • 3 beds 2 baths ∙ 1,549 Sqft ∙ Built 1994 3 beds 2 baths ∙ 1,549 Sqft ∙ Built 1994
    property image
    LEASED 02/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $0.97
    •  
PROPERTY LISTING DETAILS
Arlene Olimberio
1.702.339.8142
All Access Realty & Property M
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2251703
Last Updated: 01/03/2021
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