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3513 Lonesome Drum Street Street North Las Vegas, NV 89032

3 Beds 3 Baths 1,621 sqft Built 2004

$280,000

List Price

$1,310

$1.2K - $1.4K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 19, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2004
  • Price/Sqft : $172.73
  • 4 Days on Market
  • MLS # : 2279745
  • Updated Date : 03/20/2021 at 03:37
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,621 sqft
  • Baths : 2 full , 1 half
Listing Agent

Realty One Group, Inc

Listing Agent's Description

Well maintained 2 story home with 3 bedrooms and 3 bathrooms. Open downstairs floorplan is great for entertaining with easy to maintain porcelain and laminate flooring. Pantry provides abundance of storage. Stainless kitchen appliances convey with the property. Generous sized bedrooms all have walk-in closets. Sparkling granite counters throughout. Big backyard with patio, firepit, and NO neighbors behind!

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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)

PRICE & RENT TRENDS

Neighborhood: Revere Gowan

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260k280kPrice in $84k296k

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

Neighborhood: Revere Gowan

NeighborhoodNIR Market*CityMarket2010Year20002019 Q29501000105011001150120012501300135014001450150015501600Rent in $9371603

* 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
Dr Claude Perkins Elementary School Primary Regular 682 40 4
Marvin M Sedway Middle School Middle Regular 1,514 52 NA
Canyon Springs High School High Magnet 2,791 114 2

Dr Claude Perkins Elementary School

  • Education Level: Primary
  • # of students: 682
  • # of teachers: 40
4
GreatSchools Rating

Marvin M Sedway Middle School

  • Education Level: Middle
  • # of students: 1,514
  • # of teachers: 52
NA
GreatSchools Rating

Canyon Springs High School

  • Education Level: High
  • # of students: 2,791
  • # of teachers: 114
2
GreatSchools Rating
 

$252,000$308,000$280,000

PURCHASE PRICE

$1,179$1,441$1,310

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,310
EXPENSES Loan Payment -$973
Property Tax -$211
Property Insurance -$59
Property Management Fees -$119
CASH FLOW
-$51

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 17% of earned rent to cover both maintenance and periods of vacancy.

$280,000

PROJECTED PRICE

$1,310

PROJECTED RENT

0.47%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.75%
Appreciation Year (1-5) 11.0%
Maintenance Year (1-5) 8.00%
Vacancy 8.50%
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

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$79,950

INVESTMENT

$79,950

Down Payment
$70,000
Rehab Estimate
$5,750
Closing Costs
$4,200

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$973

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $70,000
Loan Amount $210,000
See What Happens When You Reinvest Cash Flow

4.5

YEARS SAVED

$11,788

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,310

    LIST RENT
  • $0.81

    LIST RENT PER SQFT
  • $1,289

    COMP ESTIMATED VALUE
  • $0.79

    COMP AVG. RENT PER SQFT
Comps Range
$1,295
1$1,2952$1,3103$1,3254$1,4005$1,450
$1,450
RENT COMPS ANALYSIS
  • 3513 3513 Lonesome Drum Street Street North Las Vegas, NV 2
    • 3 beds 3 baths ∙ 1,621 Sqft ∙ Built 2004 3 beds 3 baths ∙ 1,621 Sqft ∙ Built 2004
    • Rent
    • Rent Per SQFT
    •  
    • $1,310
    • $0.81
    •  
  • 1856 Fossil Butte Way #0 North Las Vegas, NV 1
    • 3 beds 2 baths ∙ 1,535 Sqft ∙ Built 1995 3 beds 2 baths ∙ 1,535 Sqft ∙ Built 1995
    LEASED 11/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,295
    • $0.84
    •  
  • 705 West Colton Avenue #0 North Las Vegas, NV 3
    • 3 beds 2 baths ∙ 1,811 Sqft ∙ Built 2007 3 beds 2 baths ∙ 1,811 Sqft ∙ Built 2007
    LEASED 04/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,325
    • $0.73
    •  
  • 816 Bolivar North Las Vegas, NV 4
    • 3 beds 2 baths ∙ 1,815 Sqft ∙ Built 2005 3 beds 2 baths ∙ 1,815 Sqft ∙ Built 2005
    LEASED 06/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,400
    • $0.77
    •  
  • 3604 Rose Canyon Drive North Las Vegas, NV 5
    • 3 beds 3 baths ∙ 1,723 Sqft ∙ Built 1997 3 beds 3 baths ∙ 1,723 Sqft ∙ Built 1997
    LEASED 09/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $0.84
    •  
PROPERTY LISTING DETAILS
Rose Botelho
1.702.303.5178
Realty One Group, Inc
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2279745
Last Updated: 03/20/2021
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