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3448 Meridale Drive Las Vegas, NV 89117

3 Beds 2 Baths 1,266 sqft Built 1994

$291,900

List Price

$1,370

$1.2K - $1.5K

Rent Est.

PROPERTY INFO

February 13, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1994
  • Price/Sqft : $230.57
  • 3 Days on Market
  • MLS # : 2269856
  • Updated Date : 02/14/2021 at 00:30
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,266 sqft
  • Baths : 2 full
Listing Agent

Huntington & Ellis, A Real Est

Listing Agent's Description

Single Story Lewis Homes Floor Plan In Southwest Area With NO HOA’S! Light and bright open floor plan with three bedrooms 2 baths. Cozy fireplace in family room, large master bedroom. The backyard features a covered patio and bubblers in the garden area. Located near Desert Breeze Park and conveniently located near public transportation, shopping and restaurants.

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • As the largest share, Las Vegas metro contributes to 75.1% of Nevada state's economy i.e. Gross State Product (USMayors.org, 2018)

PRICE & RENT TRENDS

Neighborhood: Spring Valley

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280kPrice in $119k296k

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

Neighborhood: Spring Valley

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2105011001150120012501300135014001450150015501600Rent in $10381606

* 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
Roger M. Bryan Elementary School Primary Regular 651 34 6
Lawrence Junior High School Middle Regular 1,421 61 NA
Spring Valley High School High Regular 1,925 79 4

Roger M. Bryan Elementary School

  • Education Level: Primary
  • # of students: 651
  • # of teachers: 34
6
GreatSchools Rating

Lawrence Junior High School

  • Education Level: Middle
  • # of students: 1,421
  • # of teachers: 61
NA
GreatSchools Rating

Spring Valley High School

  • Education Level: High
  • # of students: 1,925
  • # of teachers: 79
4
GreatSchools Rating
 

$262,710$321,090$291,900

PURCHASE PRICE

$1,233$1,507$1,370

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,370
EXPENSES Loan Payment -$1,014
Property Tax -$161
Property Insurance -$52
Property Management Fees -$119
CASH FLOW
$25

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.

$291,900

PROJECTED PRICE

$1,370

PROJECTED RENT

0.47%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.96%
Appreciation Year (1-5) 9.9%
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

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$83,104

INVESTMENT

$83,104

Down Payment
$72,975
Rehab Estimate
$5,750
Closing Costs
$4,379

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,014

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $72,975
Loan Amount $218,925
See What Happens When You Reinvest Cash Flow

6.42

YEARS SAVED

$21,520

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,370

    LIST RENT
  • $1.08

    LIST RENT PER SQFT
  • $1,374

    COMP ESTIMATED VALUE
  • $1.09

    COMP AVG. RENT PER SQFT
Comps Range
$1,370
1$1,3702$1,4003$1,4204$1,4505$1,495
$1,495
RENT COMPS ANALYSIS
  • 3448 Meridale Drive Las Vegas, NV 1
    • 3 beds 2 baths ∙ 1,266 Sqft ∙ Built 1994 3 beds 2 baths ∙ 1,266 Sqft ∙ Built 1994
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,370
    • $1.08
    •  
  • 3419 Cloverdale Court Las Vegas, NV 2
    • 3 beds 2 baths ∙ 1,280 Sqft ∙ Built 1997 3 beds 2 baths ∙ 1,280 Sqft ∙ Built 1997
    property image
    LEASED 01/04/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,400
    • $1.09
    •  
  • 8159 Herring Avenue Las Vegas, NV 3
    • 3 beds 3 baths ∙ 1,345 Sqft ∙ Built 2005 3 beds 3 baths ∙ 1,345 Sqft ∙ Built 2005
    property image
    LEASED 03/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,420
    • $1.06
    •  
  • 3554 Harbor Tides Las Vegas, NV 4
    • 3 beds 3 baths ∙ 1,345 Sqft ∙ Built 2005 3 beds 3 baths ∙ 1,345 Sqft ∙ Built 2005
    property image
    LEASED 06/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $1.08
    •  
  • 8161 Maitai Avenue Las Vegas, NV 5
    • 3 beds 3 baths ∙ 1,345 Sqft ∙ Built 2005 3 beds 3 baths ∙ 1,345 Sqft ∙ Built 2005
    property image
    LEASED 10/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,495
    • $1.11
    •  
PROPERTY LISTING DETAILS
Daniel Mumm
1.702.759.9601
Huntington & Ellis, A Real Est
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2269856
Last Updated: 02/14/2021
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