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3325 West Landberg Avenue Las Vegas, NV 89141

3 Beds 2 Baths 2,047 sqft Built 1997

$565,000

List Price

$1,910

$1.7K - $2.1K

Rent Est.

PROPERTY INFO

November 13, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1997
  • Price/Sqft : $276.01
  • 3 Days on Market
  • MLS # : 2247790
  • Updated Date : 11/13/2020 at 15:30
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,047 sqft
  • Baths : 2 full
Listing Agent

Nationwide Realty Llc

Listing Agent's Description

AMAZING FIND, 3 BEDROOM TWO BATH HOME WITH A 3 CAR GARAGE AND RV PARKING SITTING ON APPROXIMATELY A 1/2 ACRE. THIS RARE FIND HAS A FULLY COVERED PATIO FOR ENJOYING QUITE EVENINGS OR HOSTING LARGE GATHERINGS. THE INSIDE BOAST AN OPEN FLOOR PLAN WITH A THREEWAY FIREPLACE. THE KITCHEN OFFERS GRANITE COUNTERTOPS WITH A BREAKFAST BAR AND NOOK. THIS HOME ALSO HAS HAD NEW EXTERIOR DOORS INSTALLED. THE 3 CAR GARAGE HAS A PASS THROUGH TO THE SIDE/REAR YARD. THIS NEIGHBORHOOD HAS NO HOA AND IS ON A COMMUNITY WELL.

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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: Enterprise

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320k340k360kPrice in $119k362k

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

Neighborhood: Enterprise

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2100011001200130014001500160017001800Rent in $9981875

* 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
Dennis Ortwein Elementary School Primary Unknown NA
Lois And Jerry Tarkanian Middle School Middle Regular 1,739 71 NA
Desert Oasis High School High Regular 2,417 102 5

Dennis Ortwein Elementary School

  • Education Level: Primary
  • # of students:
  • # of teachers:
NA
GreatSchools Rating

Lois And Jerry Tarkanian Middle School

  • Education Level: Middle
  • # of students: 1,739
  • # of teachers: 71
NA
GreatSchools Rating

Desert Oasis High School

  • Education Level: High
  • # of students: 2,417
  • # of teachers: 102
5
GreatSchools Rating
 

$508,500$621,500$565,000

PURCHASE PRICE

$1,719$2,101$1,910

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,910
EXPENSES Loan Payment -$2,085
Property Tax -$316
Property Insurance -$67
Property Management Fees -$119
CASH FLOW
-$677

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.

$565,000

PROJECTED PRICE

$1,910

PROJECTED RENT

0.34%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.05%
Appreciation Year (1-5) 9.8%
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$500k$1.0M$1.5M$2.0M

PROJECTED ANNUAL CASH FLOW

11530-$10k-$5.0k$0.0$5.0k$10k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$500k$1.0M$1.5M$2.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$155,475

INVESTMENT

$155,475

Down Payment
$141,250
Rehab Estimate
$5,750
Closing Costs
$8,475

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 65% down payment or higher enables the proceeds from the asset to cover all costs.

$2,085

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $141,250
Loan Amount $423,750
See What Happens When You Reinvest Cash Flow

0.67

YEARS SAVED

$1,847

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,910

    LIST RENT
  • $0.93

    LIST RENT PER SQFT
  • $1,704

    COMP ESTIMATED VALUE
  • $0.83

    COMP AVG. RENT PER SQFT
Comps Range
$1,475
1$1,4752$1,4953$1,5954$1,6505$1,910
$1,910
RENT COMPS ANALYSIS
  • 3325 West Landberg Avenue Las Vegas, NV 5
    • 3 beds 2 baths ∙ 2,047 Sqft ∙ Built 1997 3 beds 2 baths ∙ 2,047 Sqft ∙ Built 1997
    • Rent
    • Rent Per SQFT
    •  
    • $1,910
    • $0.93
    •  
  • 10523 Ohrid Lake Court Las Vegas, NV 1
    • 4 beds 3 baths ∙ 1,706 Sqft ∙ Built 2008 4 beds 3 baths ∙ 1,706 Sqft ∙ Built 2008
    LEASED 08/12/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,475
    • $0.86
    •  
  • 9572 Friant Street Las Vegas, NV 2
    • 4 beds 3 baths ∙ 1,870 Sqft ∙ Built 1997 4 beds 3 baths ∙ 1,870 Sqft ∙ Built 1997
    LEASED 08/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,495
    • $0.80
    •  
  • 9659 Flying Eagle Lane Las Vegas, NV 3
    • 3 beds 3 baths ∙ 2,012 Sqft ∙ Built 2001 3 beds 3 baths ∙ 2,012 Sqft ∙ Built 2001
    LEASED 07/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $0.79
    •  
  • 2721 Pan Pacific Road Las Vegas, NV 4
    • 3 beds 3 baths ∙ 1,870 Sqft ∙ Built 1999 3 beds 3 baths ∙ 1,870 Sqft ∙ Built 1999
    LEASED 06/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.88
    •  
PROPERTY LISTING DETAILS
Scott A Turner
1.702.595.4409
Nationwide Realty Llc
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2247790
Last Updated: 11/13/2020
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