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3516 Lockport Street Las Vegas, NV 89129

4 Beds 3 Baths 2,431 sqft Built 1997

$429,999

List Price

$1,760

$1.6K - $1.9K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 13, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1997
  • Price/Sqft : $176.88
  • 2 Days on Market
  • MLS # : 2278253
  • Updated Date : 03/14/2021 at 00:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,431 sqft
  • Baths : 2 full , 1 half
Listing Agent

Precision Realty

Listing Agent's Description

Amazing location in Gated community! Front door opens to great room with vaulted ceilings and plenty of natural light. Stunning kitchen features Calcutta countertops, island, tile backsplash, New white shaker cabinets, upgraded sink and faucet, recessed lighting. Spacious master bathroom includes dual vanity, upgraded lighting fixtures, upgraded mirrors, standalone tub, tiled shower and flooring.

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: Lone Mountain

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320kPrice in $119k326k

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

Neighborhood: Lone Mountain

NeighborhoodNIR Market*CityMarket2010Year20002019 Q211001150120012501300135014001450150015501600Rent in $10701616

* 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
Dorothy Eisenberg Elementary School Primary Regular 609 33 6
Irwin And Susan Molasky Junior High School Middle Regular 1,131 50 NA
Cimarron Memorial High School High Regular 2,541 102 3

Dorothy Eisenberg Elementary School

  • Education Level: Primary
  • # of students: 609
  • # of teachers: 33
6
GreatSchools Rating

Irwin And Susan Molasky Junior High School

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

Cimarron Memorial High School

  • Education Level: High
  • # of students: 2,541
  • # of teachers: 102
3
GreatSchools Rating
 

$386,999$472,999$429,999

PURCHASE PRICE

$1,584$1,936$1,760

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,760
EXPENSES Loan Payment -$1,494
Property Tax -$251
Property Insurance -$74
Property Management Fees -$119
CASH FLOW
-$178

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.

$429,999

PROJECTED PRICE

$1,760

PROJECTED RENT

0.41%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.96%
Appreciation Year (1-5) 10.3%
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-$5.0k$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$1.2M$1.4M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$119,700

INVESTMENT

$119,700

Down Payment
$107,500
Rehab Estimate
$5,750
Closing Costs
$6,450

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,494

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $107,500
Loan Amount $322,499
See What Happens When You Reinvest Cash Flow

3.58

YEARS SAVED

$14,093

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,760

    LIST RENT
  • $0.72

    LIST RENT PER SQFT
  • $1,914

    COMP ESTIMATED VALUE
  • $0.79

    COMP AVG. RENT PER SQFT
Comps Range
$1,760
1$1,7602$1,7953$1,8454$1,9755$1,995
$1,995
RENT COMPS ANALYSIS
  • 3516 Lockport Street Las Vegas, NV 1
    • 4 beds 3 baths ∙ 2,431 Sqft ∙ Built 1997 4 beds 3 baths ∙ 2,431 Sqft ∙ Built 1997
    • Rent
    • Rent Per SQFT
    •  
    • $1,760
    • $0.72
    •  
  • 7636 Winterthur Court #0 Las Vegas, NV 2
    • 4 beds 2 baths ∙ 2,304 Sqft ∙ Built 2004 4 beds 2 baths ∙ 2,304 Sqft ∙ Built 2004
    LEASED 04/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,795
    • $0.78
    •  
  • 7609 Winterthur Las Vegas, NV 3
    • 4 beds 3 baths ∙ 2,304 Sqft ∙ Built 2005 4 beds 3 baths ∙ 2,304 Sqft ∙ Built 2005
    LEASED 05/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,845
    • $0.80
    •  
  • 3460 Conough Lane Las Vegas, NV 4
    • 5 beds 2 baths ∙ 2,472 Sqft ∙ Built 1995 5 beds 2 baths ∙ 2,472 Sqft ∙ Built 1995
    LEASED 01/07/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,975
    • $0.80
    •  
  • 3805 Cool Meadows Drive Las Vegas, NV 5
    • 4 beds 3 baths ∙ 2,585 Sqft ∙ Built 1996 4 beds 3 baths ∙ 2,585 Sqft ∙ Built 1996
    LEASED 10/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,995
    • $0.77
    •  
PROPERTY LISTING DETAILS
Enzo Varela
1.702.280.8300
Precision Realty
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2278253
Last Updated: 03/14/2021
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