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3411 Spinet Drive North Las Vegas, NV 89032

4 Beds 2 Baths 2,086 sqft Built 2001

$335,000

List Price

$1,540

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

December 23, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2001
  • Price/Sqft : $160.59
  • 5 Days on Market
  • MLS # : 2257142
  • Updated Date : 12/23/2020 at 15:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,086 sqft
  • Baths : 2 full
Listing Agent

Movoto, Inc

Listing Agent's Description

Wow, Let's talk about yard space! This home has it all. Upgraded kitchen with breakfast bar open to the dining and family room. Downstairs bedroom and bathroom. Upstairs has a large loft area and a separate nook area great for desk space. Great sized primary bedroom, bathroom and huge walk-in closet. This home sits on a large lot with a fantastic yard with tons of options. Enclosed dog run, patio area, artificial turf and more room to do anything you'd like.

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: North Las Vegas

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260k280kPrice in $84k296k

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

Neighborhood: North Las Vegas

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21000105011001150120012501300135014001450150015501600Rent in $9651603

* 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
Dr Claude Perkins Elementary School Primary Regular 682 40 4
Marvin M Sedway Middle School Middle Regular 1,514 52 NA
Cheyenne High School High Regular 2,212 91 2

Dr Claude Perkins Elementary School

  • Education Level: Primary
  • # of students: 682
  • # of teachers: 40
4
GreatSchools Rating

Marvin M Sedway Middle School

  • Education Level: Middle
  • # of students: 1,514
  • # of teachers: 52
NA
GreatSchools Rating

Cheyenne High School

  • Education Level: High
  • # of students: 2,212
  • # of teachers: 91
2
GreatSchools Rating
 

$301,500$368,500$335,000

PURCHASE PRICE

$1,386$1,694$1,540

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,540
EXPENSES Loan Payment -$1,236
Property Tax -$240
Property Insurance -$68
Property Management Fees -$119
CASH FLOW
-$123

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 17% of earned rent to cover both maintenance and periods of vacancy.

$335,000

PROJECTED PRICE

$1,540

PROJECTED RENT

0.46%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.75%
Appreciation Year (1-5) 11.1%
Maintenance Year (1-5) 8.00%
Vacancy 8.50%
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$15k

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$94,525

INVESTMENT

$94,525

Down Payment
$83,750
Rehab Estimate
$5,750
Closing Costs
$5,025

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$1,236

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $83,750
Loan Amount $251,250
See What Happens When You Reinvest Cash Flow

3.58

YEARS SAVED

$12,626

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,540

    LIST RENT
  • $0.74

    LIST RENT PER SQFT
  • $1,549

    COMP ESTIMATED VALUE
  • $0.74

    COMP AVG. RENT PER SQFT
Comps Range
$1,495
1$1,4952$1,5003$1,5404$1,5505$1,600
$1,600
RENT COMPS ANALYSIS
  • 3411 Spinet Drive North Las Vegas, NV 3
    • 4 beds 2 baths ∙ 2,086 Sqft ∙ Built 2001 4 beds 2 baths ∙ 2,086 Sqft ∙ Built 2001
    • Rent
    • Rent Per SQFT
    •  
    • $1,540
    • $0.74
    •  
  • 3624 Sable Palm Street North Las Vegas, NV 1
    • 4 beds 3 baths ∙ 1,987 Sqft ∙ Built 1995 4 beds 3 baths ∙ 1,987 Sqft ∙ Built 1995
    LEASED 04/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,495
    • $0.75
    •  
  • 3612 Russian Olive Las Vegas, NV 2
    • 4 beds 3 baths ∙ 1,987 Sqft ∙ Built 1996 4 beds 3 baths ∙ 1,987 Sqft ∙ Built 1996
    LEASED 04/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $0.75
    •  
  • 906 Mandolin Way North Las Vegas, NV 4
    • 4 beds 3 baths ∙ 2,086 Sqft ∙ Built 2001 4 beds 3 baths ∙ 2,086 Sqft ∙ Built 2001
    LEASED 10/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $0.74
    •  
  • 3805 Rose Canyon Drive North Las Vegas, NV 5
    • 4 beds 3 baths ∙ 2,199 Sqft ∙ Built 1994 4 beds 3 baths ∙ 2,199 Sqft ∙ Built 1994
    LEASED 11/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $0.73
    •  
PROPERTY LISTING DETAILS
Shannon W Fitzpatrick
1.702.769.3080
Movoto, Inc
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2257142
Last Updated: 12/23/2020
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