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3520 Old Course Street Las Vegas, NV 89122

3 Beds 2 Baths 1,654 sqft Built 2001

$280,000

List Price

$1,370

$1.2K - $1.5K

Rent Est.

PROPERTY INFO

November 21, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2001
  • Price/Sqft : $169.29
  • 3 Days on Market
  • MLS # : 2249802
  • Updated Date : 11/20/2020 at 22:30
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,654 sqft
  • Baths : 2 full
Listing Agent

Keller Williams Realty Las Vegas

Listing Agent's Description

This BEAUTY sits right on lush green Stallion Mountain golf course*Guard gated*HOA includes maintenance of front yard landscaping*Check out the stunning view of the golf course from living room & primary bedroom suite*Community swimming pool and clubhouse a short walk away*Soaring ceilings*Hard surface flooring t/o main living space*Stacked stone feature walls*Breakfast bar kitchen featuring corian counters, extended cabinets and NEW stove, sink, dishwasher & fridge*Primary bedroom features large bay window with view of the golf course*Primary bathroom with dual vanities and walk-in shower*Eat-in breakfast nook in kitchen PLUS Separate dining room/den off of living room*Easy maintenance backyard with paver patio, built-in BBQ island & large stucco covered patio

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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)

PRICE & RENT TRENDS

Neighborhood: Stallion Montain

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300kPrice in $119k306k

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

Neighborhood: Stallion Montain

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2105011001150120012501300135014001450150015501600Rent in $10071606

* 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
Hal Smith Elementary School Primary Regular 908 48 1
Kathleen And Tim Harney Middle School Middle Regular 1,845 71 NA
Chaparral High School High Regular 2,270 87 3

Hal Smith Elementary School

  • Education Level: Primary
  • # of students: 908
  • # of teachers: 48
1
GreatSchools Rating

Kathleen And Tim Harney Middle School

  • Education Level: Middle
  • # of students: 1,845
  • # of teachers: 71
NA
GreatSchools Rating

Chaparral High School

  • Education Level: High
  • # of students: 2,270
  • # of teachers: 87
3
GreatSchools Rating
 

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

PURCHASE PRICE

$1,233$1,507$1,370

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,370
EXPENSES Loan Payment -$1,033
Property Tax -$196
Property Insurance -$59
Property Management Fees -$119
CASH FLOW
-$38

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.

$280,000

PROJECTED PRICE

$1,370

PROJECTED RENT

0.49%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.96%
Appreciation Year (1-5) 8.4%
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

PROJECTED ANNUAL CASH FLOW

11530-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k

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 50% down payment or higher enables the proceeds from the asset to cover all costs.

$1,033

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $70,000
Loan Amount $210,000
See What Happens When You Reinvest Cash Flow

5.33

YEARS SAVED

$18,348

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,370

    LIST RENT
  • $0.83

    LIST RENT PER SQFT
  • $1,456

    COMP ESTIMATED VALUE
  • $0.88

    COMP AVG. RENT PER SQFT
Comps Range
$1,370
1$1,3702$1,3953$1,4004$1,4955$1,500
$1,500
RENT COMPS ANALYSIS
  • 3520 Old Course Street Las Vegas, NV 1
    • 3 beds 2 baths ∙ 1,654 Sqft ∙ Built 2001 3 beds 2 baths ∙ 1,654 Sqft ∙ Built 2001
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,370
    • $0.83
    •  
  • 6221 Eagle Cap Court Las Vegas, NV 2
    • 3 beds 2 baths ∙ 1,552 Sqft ∙ Built 2005 3 beds 2 baths ∙ 1,552 Sqft ∙ Built 2005
    property image
    LEASED 09/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,395
    • $0.90
    •  
  • 3425 Blue Ash Lane Las Vegas, NV 3
    • 3 beds 3 baths ∙ 1,654 Sqft ∙ Built 2000 3 beds 3 baths ∙ 1,654 Sqft ∙ Built 2000
    property image
    LEASED 01/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,400
    • $0.85
    •  
  • 3449 Blue Ash Lane Las Vegas, NV 4
    • 3 beds 2 baths ∙ 1,654 Sqft ∙ Built 2000 3 beds 2 baths ∙ 1,654 Sqft ∙ Built 2000
    property image
    LEASED 09/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,495
    • $0.90
    •  
  • 3463 Halter Drive Las Vegas, NV 5
    • 3 beds 2 baths ∙ 1,718 Sqft ∙ Built 2008 3 beds 2 baths ∙ 1,718 Sqft ∙ Built 2008
    property image
    LEASED 02/26/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $0.87
    •  
PROPERTY LISTING DETAILS
Teresa Lynn
1.702.419.4933
Keller Williams Realty Las Vegas
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2249802
Last Updated: 11/20/2020
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