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3428 Palatine Hills Avenue North Las Vegas, NV 89081

3 Beds 2 Baths 1,888 sqft Built 2005

$298,000

List Price

$1,510

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 10, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2005
  • Price/Sqft : $157.84
  • 7 Days on Market
  • MLS # : 2277320
  • Updated Date : 03/12/2021 at 16:07
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,888 sqft
  • Baths : 2 full
Listing Agent

Life Realty District

Listing Agent's Description

OPEN FLOOR PLAN! This charming 3 bed/2 bath single story home has a bright, open floor plan. The master bedroom features a large walk in closet and beautifully remodeled bathroom. All bedrooms have ceiling fans and wood floors. Family room has ceiling fan and fireplace. Low maintenance, desert landscape in the front yard and patio cover in the back. Easy access to shopping and freeways! Move in ready!!

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: Shadow Springs

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260k280k300kPrice in $84k307k

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

Neighborhood: Shadow Springs

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
John Tartan Elementary School Primary Regular 637 37 3
Carroll M Johnston Middle School Middle Regular 1,365 58 NA
Legacy High School High Regular 2,819 119 3

John Tartan Elementary School

  • Education Level: Primary
  • # of students: 637
  • # of teachers: 37
3
GreatSchools Rating

Carroll M Johnston Middle School

  • Education Level: Middle
  • # of students: 1,365
  • # of teachers: 58
NA
GreatSchools Rating

Legacy High School

  • Education Level: High
  • # of students: 2,819
  • # of teachers: 119
3
GreatSchools Rating
 

$268,200$327,800$298,000

PURCHASE PRICE

$1,359$1,661$1,510

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,510
EXPENSES Loan Payment -$1,035
Property Tax -$245
Property Insurance -$64
Property Management Fees -$119
CASH FLOW
$47

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.

$298,000

PROJECTED PRICE

$1,510

PROJECTED RENT

0.51%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.75%
Appreciation Year (1-5) 10.7%
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-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k$16k

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$84,720

INVESTMENT

$84,720

Down Payment
$74,500
Rehab Estimate
$5,750
Closing Costs
$4,470

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,035

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $74,500
Loan Amount $223,500
See What Happens When You Reinvest Cash Flow

6.17

YEARS SAVED

$20,225

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,510

    LIST RENT
  • $0.8

    LIST RENT PER SQFT
  • $1,529

    COMP ESTIMATED VALUE
  • $0.81

    COMP AVG. RENT PER SQFT
Comps Range
$1,495
1$1,4952$1,5103$1,5504$1,5505$1,595
$1,595
RENT COMPS ANALYSIS
  • 3428 Palatine Hills Avenue North Las Vegas, NV 2
    • 3 beds 2 baths ∙ 1,888 Sqft ∙ Built 2005 3 beds 2 baths ∙ 1,888 Sqft ∙ Built 2005
    • Rent
    • Rent Per SQFT
    •  
    • $1,510
    • $0.80
    •  
  • 3729 Gallowtree Avenue North Las Vegas, NV 1
    • 3 beds 3 baths ∙ 1,908 Sqft ∙ Built 2004 3 beds 3 baths ∙ 1,908 Sqft ∙ Built 2004
    LEASED 10/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,495
    • $0.78
    •  
  • 3316 Palatine Hills Avenue #0 North Las Vegas, NV 3
    • 4 beds 2 baths ∙ 1,888 Sqft ∙ Built 2005 4 beds 2 baths ∙ 1,888 Sqft ∙ Built 2005
    LEASED 07/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $0.82
    •  
  • 5820 Autumn Damask Street North Las Vegas, NV 4
    • 4 beds 2 baths ∙ 1,815 Sqft ∙ Built 2005 4 beds 2 baths ∙ 1,815 Sqft ∙ Built 2005
    LEASED 02/26/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $0.85
    •  
  • 6219 Tazewell Court #none North Las Vegas, NV 5
    • 3 beds 3 baths ∙ 2,012 Sqft ∙ Built 2005 3 beds 3 baths ∙ 2,012 Sqft ∙ Built 2005
    LEASED 02/24/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $0.79
    •  
PROPERTY LISTING DETAILS
Teresa Haulman
1.702.274.6725
Life Realty District
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2277320
Last Updated: 03/12/2021
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