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340 Lakewood Garden Drive Las Vegas, NV 89148

3 Beds 2 Baths 1,567 sqft Built 1999

$378,000

List Price

$1,430

$1.3K - $1.6K

Rent Est.

PROPERTY INFO

November 12, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1999
  • Price/Sqft : $241.23
  • 4 Days on Market
  • MLS # : 2247736
  • Updated Date : 11/12/2020 at 10:12
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,567 sqft
  • Baths : 2 full
Listing Agent

Continental Real Estate Group

Listing Agent's Description

Rhodes Ranch Country Club- Single Story 3 Bedroom, 2 Bath home in guard gated community with many amenities. Property features vaulted ceilings and an open concept main living area. New Kitchen and bathroom cabinets. Community amenities include a Rec Center w/a pool, spa, water park, exercise room, basketball court, tennis courts. Owner has a real estate license in IL.

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: Rhodes Ranch

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320kPrice in $119k339k

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

Neighborhood: Rhodes Ranch

NeighborhoodNIR Market*CityMarket2010Year20002019 Q211001200130014001500160017001800Rent in $10551829

* 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
Don And Dee Snyder Elementary School Primary Unknown NA
Wilbur And Theresa Faiss Middle School Middle Regular 1,409 61 NA
Sierra Vista High School High Regular 2,396 88 4

Don And Dee Snyder Elementary School

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

Wilbur And Theresa Faiss Middle School

  • Education Level: Middle
  • # of students: 1,409
  • # of teachers: 61
NA
GreatSchools Rating

Sierra Vista High School

  • Education Level: High
  • # of students: 2,396
  • # of teachers: 88
4
GreatSchools Rating
 

$340,200$415,800$378,000

PURCHASE PRICE

$1,287$1,573$1,430

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,430
EXPENSES Loan Payment -$1,395
Property Tax -$235
Property Insurance -$58
Property Management Fees -$119
CASH FLOW
-$376

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.

$378,000

PROJECTED PRICE

$1,430

PROJECTED RENT

0.38%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.96%
Appreciation Year (1-5) 8.8%
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-$5.0k$0.0$5.0k$10k

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$105,920

INVESTMENT

$105,920

Down Payment
$94,500
Rehab Estimate
$5,750
Closing Costs
$5,670

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,395

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $94,500
Loan Amount $283,500
See What Happens When You Reinvest Cash Flow

1.42

YEARS SAVED

$3,295

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,430

    LIST RENT
  • $0.91

    LIST RENT PER SQFT
  • $1,583

    COMP ESTIMATED VALUE
  • $1.01

    COMP AVG. RENT PER SQFT
Comps Range
$1,430
1$1,4302$1,5003$1,6504$1,6505$1,695
$1,695
RENT COMPS ANALYSIS
  • 340 Lakewood Garden Drive Las Vegas, NV 1
    • 3 beds 2 baths ∙ 1,567 Sqft ∙ Built 1999 3 beds 2 baths ∙ 1,567 Sqft ∙ Built 1999
    • Rent
    • Rent Per SQFT
    •  
    • $1,430
    • $0.91
    •  
  • 203 Sea Rim Las Vegas, NV 2
    • 3 beds 2 baths ∙ 1,567 Sqft ∙ Built 2000 3 beds 2 baths ∙ 1,567 Sqft ∙ Built 2000
    LEASED 05/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $0.96
    •  
  • 99 Rusty Springs Court Las Vegas, NV 3
    • 3 beds 3 baths ∙ 1,735 Sqft ∙ Built 2006 3 beds 3 baths ∙ 1,735 Sqft ∙ Built 2006
    LEASED 11/22/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.95
    •  
  • 236 Blackstone River Avenue Las Vegas, NV 4
    • 3 beds 2 baths ∙ 1,567 Sqft ∙ Built 1999 3 beds 2 baths ∙ 1,567 Sqft ∙ Built 1999
    LEASED 01/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $1.05
    •  
  • 313 Sea Rim Avenue Las Vegas, NV 5
    • 3 beds 2 baths ∙ 1,567 Sqft ∙ Built 2001 3 beds 2 baths ∙ 1,567 Sqft ∙ Built 2001
    LEASED 11/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $1.08
    •  
PROPERTY LISTING DETAILS
Derek Eisenberg
1.877.996.5728
Continental Real Estate Group
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2247736
Last Updated: 11/12/2020
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