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3446 Biscaya Circle Las Vegas, NV 89121

4 Beds 3 Baths 2,464 sqft Built 1979

$490,000

List Price

$1,830

$1.6K - $2K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
FACTS
  • Single Family
  • Built In 1979
  • Price/Sqft : $198.86
  • 14 Days on Market
  • MLS # : 2276870
  • Updated Date : 03/19/2021 at 19:23
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,464 sqft
  • Baths : 2 full , 1 half
Listing Agent

John Griffith Realty

Listing Agent's Description

Stunning and RARE 4 BR/3 bath one-story turnkey vintage Vegas property located on private cul-de-sac with private sparkling POOL & jetted spa. Set on an oversized lot, the front iron gates lead you into a private courtyard with firepit. Once inside, you're greeted with gorgeous ceramic tile flooring, a big open family room with fireplace, & separate dining room. Your future chef's kitchen complete with quartz counters, double oven, stainless steel appliances, & the breakfast island will make entertaining friends and family a delight. Modernized features abound, including a huge soaking tub in the master bath that fills from a ceiling faucet! All kitchen appliances, washer, dryer, smart locks, water softener, central vacuum, Vivint security system hardware, garage racks, and custom/removeable pool fencing ($2500 value) are ALL included! New (2020) A/C compressor & motor insulation. Only 10 minutes to The Strip & McCarran Airport! Don't wait, this hot spring market is in FULL effect!

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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: Paradise

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280kPrice in $112k296k

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

Neighborhood: Paradise

NeighborhoodNIR Market*CityMarket2010Year20002019 Q211001150120012501300135014001450150015501600Rent in $10761606

* 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
George E. Harris Elementary School Primary Regular 700 38 3
C W Woodbury Middle School Middle Regular 902 39 NA
Chaparral High School High Regular 2,270 87 3

George E. Harris Elementary School

  • Education Level: Primary
  • # of students: 700
  • # of teachers: 38
3
GreatSchools Rating

C W Woodbury Middle School

  • Education Level: Middle
  • # of students: 902
  • # of teachers: 39
NA
GreatSchools Rating

Chaparral High School

  • Education Level: High
  • # of students: 2,270
  • # of teachers: 87
3
GreatSchools Rating
 

$441,000$539,000$490,000

PURCHASE PRICE

$1,647$2,013$1,830

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,830
EXPENSES Loan Payment -$1,702
Property Tax -$228
Property Insurance -$75
Property Management Fees -$119
CASH FLOW
-$294

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.

$490,000

PROJECTED PRICE

$1,830

PROJECTED RENT

0.37%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.96%
Appreciation Year (1-5) 9.4%
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$1.4M$1.6M

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$1.4M$1.6M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$135,600

INVESTMENT

$135,600

Down Payment
$122,500
Rehab Estimate
$5,750
Closing Costs
$7,350

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,702

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $122,500
Loan Amount $367,500
See What Happens When You Reinvest Cash Flow

2.75

YEARS SAVED

$10,665

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,830

    LIST RENT
  • $0.74

    LIST RENT PER SQFT
  • $1,811

    COMP ESTIMATED VALUE
  • $0.74

    COMP AVG. RENT PER SQFT
Comps Range
$1,600
1$1,6002$1,6003$1,8304$1,8505$1,950
$1,950
RENT COMPS ANALYSIS
  • 3446 Biscaya Circle Las Vegas, NV 3
    • 4 beds 3 baths ∙ 2,464 Sqft ∙ Built 1979 4 beds 3 baths ∙ 2,464 Sqft ∙ Built 1979
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,830
    • $0.74
    •  
  • 3634 East Harmon Avenue #house Las Vegas, NV 1
    • 4 beds 3 baths ∙ 2,479 Sqft ∙ Built 1977 4 beds 3 baths ∙ 2,479 Sqft ∙ Built 1977
    property image
    LEASED 03/01/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $0.65
    •  
  • 4839 Montara Circle Las Vegas, NV 2
    • 4 beds 2 baths ∙ 2,133 Sqft ∙ Built 1974 4 beds 2 baths ∙ 2,133 Sqft ∙ Built 1974
    property image
    LEASED 03/03/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $0.75
    •  
  • 3178 Swallow Lane #0 Las Vegas, NV 4
    • 3 beds 3 baths ∙ 2,372 Sqft ∙ Built 1977 3 beds 3 baths ∙ 2,372 Sqft ∙ Built 1977
    property image
    LEASED 02/23/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $0.78
    •  
  • 4612 Garita Las Vegas, NV 5
    • 4 beds 2 baths ∙ 2,578 Sqft ∙ Built 1978 4 beds 2 baths ∙ 2,578 Sqft ∙ Built 1978
    property image
    LEASED 05/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $0.76
    •  
PROPERTY LISTING DETAILS
Christopher E Lally
1.702.886.1210
John Griffith Realty
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2276870
Last Updated: 03/19/2021
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