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3506 Twain Avenue Las Vegas, NV 89121

5 Beds 4 Baths 2,931 sqft Built 1971

$445,000

List Price

$1,950

$1.8K - $2.1K

Rent Est.

PROPERTY INFO

February 04, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1971
  • Price/Sqft : $151.83
  • 5 Days on Market
  • MLS # : 2266619
  • Updated Date : 02/04/2021 at 21:47
CONSTRUCTION
  • Beds : 5
  • Floor Size : 2,931 sqft
  • Baths : 3 full , 1 half
Listing Agent

Simply Vegas

Listing Agent's Description

3506 Twain is a one of a kind show stopper! Come see this functional, centrally located, single story today. A beautiful lawn with large shade tree and custom stone pavers welcome you. Enjoy the private, lush backyard with refreshing pool from your full length covered patio. Inside there are 5 bedrooms, 4 baths with a custom kitchen and new bathrooms. A bright and attractive interior has upgraded appliances, recessed lighting across the open floor plan and solid floors throughout. Energy efficient with new windows, owned solar panels, and newer HVACs. There are custom cabinets, door hardware, extensive tile work, custom closets and new electrical fixtures. The exterior has a large full-length covered patio with ceiling fans that overlook the pool and lawn with play-set. On one sides of the house there is a fenced off area for a private garden or dog run, large covered RV parking, storage shed and separate workshop. View the 3D virtual tour and ask for the long list of improvements.

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: 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
 

$400,500$489,500$445,000

PURCHASE PRICE

$1,755$2,145$1,950

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,950
EXPENSES Loan Payment -$1,546
Property Tax -$160
Property Insurance -$84
Property Management Fees -$119
CASH FLOW
$42

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.

$445,000

PROJECTED PRICE

$1,950

PROJECTED RENT

0.44%

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$0.0$5.0k$10k$15k$20k$25k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$123,675

INVESTMENT

$123,675

Down Payment
$111,250
Rehab Estimate
$5,750
Closing Costs
$6,675

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,546

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $111,250
Loan Amount $333,750
See What Happens When You Reinvest Cash Flow

6.5

YEARS SAVED

$33,990

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,950

    LIST RENT
  • $0.67

    LIST RENT PER SQFT
  • $2,120

    COMP ESTIMATED VALUE
  • $0.72

    COMP AVG. RENT PER SQFT
Comps Range
$1,950
1$1,9502$2,0003$2,1504$2,170
$2,170
RENT COMPS ANALYSIS
  • 3506 Twain Avenue Las Vegas, NV 1
    • 5 beds 4 baths ∙ 2,931 Sqft ∙ Built 1971 5 beds 4 baths ∙ 2,931 Sqft ∙ Built 1971
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $0.67
    •  
  • 4288 Cartegena Way Las Vegas, NV 2
    • 5 beds 3 baths ∙ 2,788 Sqft ∙ Built 1976 5 beds 3 baths ∙ 2,788 Sqft ∙ Built 1976
    LEASED 08/16/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $0.72
    •  
  • 3689 Crestview Drive Las Vegas, NV 3
    • 4 beds 3 baths ∙ 2,824 Sqft ∙ Built 1977 4 beds 3 baths ∙ 2,824 Sqft ∙ Built 1977
    LEASED 10/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,150
    • $0.76
    •  
  • 3377 Dakota Way Las Vegas, NV 4
    • 4 beds 2 baths ∙ 3,165 Sqft ∙ Built 1962 4 beds 2 baths ∙ 3,165 Sqft ∙ Built 1962
    LEASED 05/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,170
    • $0.69
    •  
PROPERTY LISTING DETAILS
Catherine Hyde
1.702.408.2289
Simply Vegas
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2266619
Last Updated: 02/04/2021
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