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3489 Cherbourg Avenue Las Vegas, NV 89141

3 Beds 3 Baths 1,879 sqft Built 2002

$339,990

List Price

$1,530

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

November 12, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2002
  • Price/Sqft : $180.94
  • 5 Days on Market
  • MLS # : 2247567
  • Updated Date : 11/11/2020 at 18:30
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,879 sqft
  • Baths : 2 full , 1 half
Listing Agent

Realty One Group, Inc

Listing Agent's Description

BEAUTIFUL 3 BEDROOM HOME IN THE GATED COMMUNITY OF THE HEATHERS AT SOUTHERN HIGHLANDS*GRAND ENTRY WITH VAULTED CEILINGS IN THE FAMILY ROOM*FORMAL DINING AREA*LARGE LIVING ROOM OPEN TO THE KITCHEN*GRANITE COUNTERTOPS, ISLAND, PANTRY, BREAKFAST NOOK, AND ALL APPLIANCES IN THE KITCHEN*MASTER BEDROOM OPENS TO A LARGE BALCONY, SITTING ROOM AND WALK-IN CLOSET*DUAL SINKS AND SEPARATE TUB/SHOWER IN THE MASTER BATH*SECONDARY BEDROOMS WITH CEILING FANS*LARGE NICELY LANDSCAPED BACKYARD WITH COVERED PATIO

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: Southern Highlands

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320k340k360k380k400kPrice in $119k410k

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

Neighborhood: Southern Highlands

NeighborhoodNIR Market*CityMarket2010Year20002019 Q211001200130014001500160017001800Rent in $10761875

* 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
Dennis Ortwein Elementary School Primary Unknown NA
Lois And Jerry Tarkanian Middle School Middle Regular 1,739 71 NA
Desert Oasis High School High Regular 2,417 102 5

Dennis Ortwein Elementary School

  • Education Level: Primary
  • # of students:
  • # of teachers:
NA
GreatSchools Rating

Lois And Jerry Tarkanian Middle School

  • Education Level: Middle
  • # of students: 1,739
  • # of teachers: 71
NA
GreatSchools Rating

Desert Oasis High School

  • Education Level: High
  • # of students: 2,417
  • # of teachers: 102
5
GreatSchools Rating
 

$305,991$373,989$339,990

PURCHASE PRICE

$1,377$1,683$1,530

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,530
EXPENSES Loan Payment -$1,254
Property Tax -$213
Property Insurance -$64
Property Management Fees -$119
CASH FLOW
-$120

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.

$339,990

PROJECTED PRICE

$1,530

PROJECTED RENT

0.45%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.05%
Appreciation Year (1-5) 8.0%
Maintenance Year (1-5) 8.00%
Vacancy 7.57%
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$95,847

INVESTMENT

$95,847

Down Payment
$84,998
Rehab Estimate
$5,750
Closing Costs
$5,100

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,254

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $84,998
Loan Amount $254,993
See What Happens When You Reinvest Cash Flow

4.33

YEARS SAVED

$16,567

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,530

    LIST RENT
  • $0.81

    LIST RENT PER SQFT
  • $1,569

    COMP ESTIMATED VALUE
  • $0.84

    COMP AVG. RENT PER SQFT
Comps Range
$1,450
1$1,4502$1,5003$1,5304$1,7455$1,795
$1,795
RENT COMPS ANALYSIS
  • 3489 Cherbourg Avenue Las Vegas, NV 3
    • 3 beds 3 baths ∙ 1,879 Sqft ∙ Built 2002 3 beds 3 baths ∙ 1,879 Sqft ∙ Built 2002
    • Rent
    • Rent Per SQFT
    •  
    • $1,530
    • $0.81
    •  
  • 10946 Porto Foxi Street Las Vegas, NV 1
    • 3 beds 3 baths ∙ 1,879 Sqft ∙ Built 2002 3 beds 3 baths ∙ 1,879 Sqft ∙ Built 2002
    LEASED 07/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $0.77
    •  
  • 11088 Parete Court Las Vegas, NV 2
    • 4 beds 3 baths ∙ 1,816 Sqft ∙ Built 2002 4 beds 3 baths ∙ 1,816 Sqft ∙ Built 2002
    LEASED 04/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $0.83
    •  
  • 3453 Cherbourg Avenue Las Vegas, NV 4
    • 3 beds 3 baths ∙ 2,039 Sqft ∙ Built 2002 3 beds 3 baths ∙ 2,039 Sqft ∙ Built 2002
    LEASED 06/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,745
    • $0.86
    •  
  • 10885 Florence Hills Street Las Vegas, NV 5
    • 4 beds 3 baths ∙ 2,040 Sqft ∙ Built 2007 4 beds 3 baths ∙ 2,040 Sqft ∙ Built 2007
    LEASED 03/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,795
    • $0.88
    •  
PROPERTY LISTING DETAILS
Bryan Mitchell
1.702.338.8188
Realty One Group, Inc
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2247567
Last Updated: 11/11/2020
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