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3487 Creek River Drive Las Vegas, NV 89129

3 Beds 3 Baths 1,634 sqft Built 1993

$289,900

List Price

$1,450

$1.3K - $1.6K

Rent Est.

PROPERTY INFO

January 15, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1993
  • Price/Sqft : $177.42
  • 3 Days on Market
  • MLS # : 2261549
  • Updated Date : 01/17/2021 at 00:56
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,634 sqft
  • Baths : 2 full , 1 half
Listing Agent

Exit Realty Number One

Listing Agent's Description

Corner lot for a spacious feel. NEW carpet and paint throughout. Beautiful NW valley home. Minutes from shopping, restaurants, and freeway. Plantation shutters throughout. Assigned guest parking in addition to attached two-car garage. This property will not last long!

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: Firethorne

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280kPrice in $103k296k

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

Neighborhood: Firethorne

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21000105011001150120012501300135014001450150015501600Rent in $9671606

* 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
Edith Garehime Elementary School Primary Regular 631 32 7
Irwin And Susan Molasky Junior High School Middle Regular 1,131 50 NA
Centennial High School High Regular 3,055 124 6

Edith Garehime Elementary School

  • Education Level: Primary
  • # of students: 631
  • # of teachers: 32
7
GreatSchools Rating

Irwin And Susan Molasky Junior High School

  • Education Level: Middle
  • # of students: 1,131
  • # of teachers: 50
NA
GreatSchools Rating

Centennial High School

  • Education Level: High
  • # of students: 3,055
  • # of teachers: 124
6
GreatSchools Rating
 

$260,910$318,890$289,900

PURCHASE PRICE

$1,305$1,595$1,450

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,450
EXPENSES Loan Payment -$1,007
Property Tax -$160
Property Insurance -$59
Property Management Fees -$119
CASH FLOW
$105

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.

$289,900

PROJECTED PRICE

$1,450

PROJECTED RENT

0.50%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.96%
Appreciation Year (1-5) 12.0%
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

PROJECTED ANNUAL CASH FLOW

11530$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$82,574

INVESTMENT

$82,574

Down Payment
$72,475
Rehab Estimate
$5,750
Closing Costs
$4,349

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,007

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $72,475
Loan Amount $217,425
See What Happens When You Reinvest Cash Flow

7.67

YEARS SAVED

$28,854

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,450

    LIST RENT
  • $0.89

    LIST RENT PER SQFT
  • $1,467

    COMP ESTIMATED VALUE
  • $0.9

    COMP AVG. RENT PER SQFT
Comps Range
$1,350
1$1,3502$1,4003$1,4004$1,4505$1,495
$1,495
RENT COMPS ANALYSIS
  • 3487 Creek River Drive Las Vegas, NV 4
    • 3 beds 3 baths ∙ 1,634 Sqft ∙ Built 1993 3 beds 3 baths ∙ 1,634 Sqft ∙ Built 1993
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $0.89
    •  
  • 3483 Bankside Las Vegas, NV 1
    • 3 beds 3 baths ∙ 1,508 Sqft ∙ Built 1993 3 beds 3 baths ∙ 1,508 Sqft ∙ Built 1993
    LEASED 06/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,350
    • $0.90
    •  
  • 3468 Martin Hall Drive #n/a Las Vegas, NV 2
    • 3 beds 3 baths ∙ 1,508 Sqft ∙ Built 1995 3 beds 3 baths ∙ 1,508 Sqft ∙ Built 1995
    LEASED 05/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,400
    • $0.93
    •  
  • 3333 Cheltenham Street Las Vegas, NV 3
    • 3 beds 3 baths ∙ 1,621 Sqft ∙ Built 1996 3 beds 3 baths ∙ 1,621 Sqft ∙ Built 1996
    LEASED 08/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,400
    • $0.86
    •  
  • 9173 Sparklewood Court #0 Las Vegas, NV 5
    • 4 beds 3 baths ∙ 1,659 Sqft ∙ Built 1995 4 beds 3 baths ∙ 1,659 Sqft ∙ Built 1995
    LEASED 07/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,495
    • $0.90
    •  
PROPERTY LISTING DETAILS
David J Richards
1.702.396.4545
Exit Realty Number One
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2261549
Last Updated: 01/17/2021
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