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3387 Jasmine Vine Court Las Vegas, NV 89135

4 Beds 3 Baths 2,056 sqft Built 2002

$390,000

List Price

$1,860

$1.7K - $2K

Rent Est.

PROPERTY INFO

December 05, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2002
  • Price/Sqft : $189.69
  • 4 Days on Market
  • MLS # : 2253361
  • Updated Date : 12/05/2020 at 08:31
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,056 sqft
  • Baths : 2 full , 1 half
Listing Agent

Vylla Home

Listing Agent's Description

This beautiful home is in a great location in Summerlin~Close to the 215 Freeway~Downtown Summerlin~Red Rock Casino~Aviators Ballbark~City National Arena~community parks and trails. Over 2000 sq ft with 4 bedrooms, 2.5 bathrooms, and a great-sized backyard with low maintenance artificial grass. Window coverings and ceiling fans throughout. More details in the pictures.

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: The Gardens

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450kPrice in $119k497k

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

Neighborhood: The Gardens

NeighborhoodNIR Market*CityMarket2010Year20002019 Q212001400160018002000220024002600Rent in $10762685

* 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
Judy And John Goolsby Elementary School Primary Regular 807 42 10
Victoria Fertitta Middle School Middle Regular 1,472 60 NA
Spring Valley High School High Regular 1,925 79 4

Judy And John Goolsby Elementary School

  • Education Level: Primary
  • # of students: 807
  • # of teachers: 42
10
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
 

$351,000$429,000$390,000

PURCHASE PRICE

$1,674$2,046$1,860

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,860
EXPENSES Loan Payment -$1,439
Property Tax -$240
Property Insurance -$67
Property Management Fees -$119
CASH FLOW
-$5

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.

$390,000

PROJECTED PRICE

$1,860

PROJECTED RENT

0.48%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.05%
Appreciation Year (1-5) 8.3%
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$109,100

INVESTMENT

$109,100

Down Payment
$97,500
Rehab Estimate
$5,750
Closing Costs
$5,850

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,439

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $97,500
Loan Amount $292,500
See What Happens When You Reinvest Cash Flow

6

YEARS SAVED

$31,233

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,860

    LIST RENT
  • $0.9

    LIST RENT PER SQFT
  • $2,005

    COMP ESTIMATED VALUE
  • $0.97

    COMP AVG. RENT PER SQFT
Comps Range
$1,700
1$1,7002$1,8603$1,9504$1,9755$2,200
$2,200
RENT COMPS ANALYSIS
  • 3387 Jasmine Vine Court Las Vegas, NV 2
    • 4 beds 3 baths ∙ 2,056 Sqft ∙ Built 2002 4 beds 3 baths ∙ 2,056 Sqft ∙ Built 2002
    • Rent
    • Rent Per SQFT
    •  
    • $1,860
    • $0.90
    •  
  • 10784 Royal Jasmine Lane Las Vegas, NV 1
    • 4 beds 3 baths ∙ 2,056 Sqft ∙ Built 2002 4 beds 3 baths ∙ 2,056 Sqft ∙ Built 2002
    LEASED 06/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $0.83
    •  
  • 3549 Sagittarius Las Vegas, NV 3
    • 3 beds 3 baths ∙ 1,923 Sqft ∙ Built 2002 3 beds 3 baths ∙ 1,923 Sqft ∙ Built 2002
    LEASED 03/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $1.01
    •  
  • 10923 Snow Cloud Court Las Vegas, NV 4
    • 3 beds 1 baths ∙ 1,885 Sqft ∙ Built 2002 3 beds 1 baths ∙ 1,885 Sqft ∙ Built 2002
    LEASED 12/06/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,975
    • $1.05
    •  
  • 11067 Caramel Crest Court Las Vegas, NV 5
    • 3 beds 3 baths ∙ 2,184 Sqft ∙ Built 2003 3 beds 3 baths ∙ 2,184 Sqft ∙ Built 2003
    LEASED 05/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $1.01
    •  
PROPERTY LISTING DETAILS
Dawn Westervelt
1.702.912.3238
Vylla Home
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2253361
Last Updated: 12/05/2020
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