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3458 Andalusia Place Las Vegas, NV 89146

3 Beds 3 Baths 1,922 sqft Built 1978

INVESTimate

$315,000

List Price

$1,660

$1,494 - $1,826

Rent Est.

$346,217  ( +9.91%)   1 YR EST. FORECAST

PROPERTY INFO

August 22, 2020 RECENTLY ADDED
FACTS
  • Built In 1978
  • Price/Sqft : $163.89
  • 6 Days on Market
  • MLS # : 2223906
  • Updated Date : 08/24/2020 at 12:34
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,922 sqft
  • Baths : 2 full , 1 half
Listing Agent

Triumph Property Management Co

Listing Agent's Description

1 STORY STUNNER W/GREAT POTENTIAL! WALK INTO A SPACIOUS OPEN LAYOUT HOME! IT'S ON HUGE LOT*BEAUTIFUL ENTRY TILE, GORGEOUS KITCHEN GRANITE, STUNNING KITCHEN APPLIANCES & NOT TO OLD WASHER & DRYER TOO!*SHOWERS W/TILE! MASTER SHOWER WITH POSSIBILITY OF WHEELCHAIR ACCESS! HUGE BONUS ROOM (could be possible 4th bedroom; does have walk in closet), FAMILY ROOM, GOOD SIZED BEDROOMS!*NEW ROOF 2019! NEW AC 2018, NEW GARAGE DOOR OPENER 2019! SOLAR LEASE INSTALLED 2017! DOUBLE RV GATES FOR YOUR TOYS! GORGEOUS OVER 1/4 ACRE LOT WITH NICE COVERED PATIO! PROPERTY COULD USE SOME NEW CARPET, PAINT & TLC.***PROPERTY WILL BE SOLD AS IS, WHERE IS***

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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
R. Guild Gray Elementary School Primary Regular 521 24 5
Kenny C. Guinn Middle School Middle Regular 820 40 NA
Bonanza High School High Regular 2,003 83 3

R. Guild Gray Elementary School

  • Education Level: Primary
  • # of students: 521
  • # of teachers: 24
5
GreatSchools Rating

Kenny C. Guinn Middle School

  • Education Level: Middle
  • # of students: 820
  • # of teachers: 40
NA
GreatSchools Rating

Bonanza High School

  • Education Level: High
  • # of students: 2,003
  • # of teachers: 83
3
GreatSchools Rating
 

$283,500$346,500$315,000

PURCHASE PRICE

$1,494$1,826$1,660

RENT

DOWN PAYMENT
FINANCING

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$0.0$5.0k$10k$15k$20k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,660
EXPENSES Loan Payment -$1,162
Property Tax -$197
Property Insurance -$64
Property Management Fees -$119
CASH FLOW
$117

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.

$315,000

PROJECTED PRICE

$1,660

PROJECTED RENT

0.53%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.96%
Appreciation Year (1-5) 9.91%
Maintenance Year (1-5) 8.00%
Vacancy 7.63%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$89,225

INVESTMENT

$89,225

Down Payment
$78,750
Rehab Estimate
$5,750
Closing Costs
$4,725

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 40% down payment or higher enables the proceeds from the asset to cover all costs.

$1,162

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $78,750
Loan Amount $236,250
See What Happens When You Reinvest Cash Flow

7.83

YEARS SAVED

$37,498

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,660

    LIST RENT
  • $0.86

    LIST RENT PER SQFT
  • $1,667

    COMP ESTIMATED VALUE
  • $0.87

    COMP AVG. RENT PER SQFT
Comps Range
$1,495
1$1,4952$1,6003$1,6504$1,6605$1,750
$1,750
RENT COMPS ANALYSIS
  • 3458 Andalusia Place Las Vegas, NV 4
    • 3 beds 3 baths ∙ 1,922 Sqft ∙ Built 1978 3 beds 3 baths ∙ 1,922 Sqft ∙ Built 1978
    • Rent
    • Rent Per SQFT
    •  
    • $1,660
    • $0.86
    •  
  • 3545 Moraga Las Vegas, NV 1
    • 3 beds 1 baths ∙ 1,886 Sqft ∙ Built 1973 3 beds 1 baths ∙ 1,886 Sqft ∙ Built 1973
    LEASED 07/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,495
    • $0.79
    •  
  • 3422 Remuda Trail #0 Las Vegas, NV 2
    • 3 beds 1 baths ∙ 1,792 Sqft ∙ Built 1976 3 beds 1 baths ∙ 1,792 Sqft ∙ Built 1976
    LEASED 01/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $0.89
    •  
  • 3556 Tempe Street Las Vegas, NV 3
    • 4 beds 2 baths ∙ 1,846 Sqft ∙ Built 1975 4 beds 2 baths ∙ 1,846 Sqft ∙ Built 1975
    LEASED 05/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.89
    •  
  • 3668 Redwood Las Vegas, NV 5
    • 4 beds 3 baths ∙ 1,947 Sqft ∙ Built 1974 4 beds 3 baths ∙ 1,947 Sqft ∙ Built 1974
    LEASED 06/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.90
    •  
PROPERTY LISTING DETAILS
Kamyar Zargari
1.702.367.2323
Triumph Property Management Co
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2223906
Last Updated: 08/24/2020
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