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3521 Discovery Downs Court North Las Vegas, NV 89081

3 Beds 2 Baths 1,274 sqft Built 2008

$275,000

List Price

$1,350

$1.2K - $1.5K

Rent Est.

PROPERTY INFO

December 19, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2008
  • Price/Sqft : $215.86
  • 2 Days on Market
  • MLS # : 2256817
  • Updated Date : 12/19/2020 at 13:30
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,274 sqft
  • Baths : 2 full
Listing Agent

Elite Realty

Listing Agent's Description

Beautiful one story home featuring a airy open floor plan, 3 bedrooms,2 baths and an upgraded kitchen with granite counter tops. Owner pride to say the least. Courtyard entrance. Paver driveway. Located behind Shadow Creek Golf Course. Conveniently located near shopping, dining, freeway access and close to Nellis AFB. Community offers walking/jogging paths and community parks. Make your offer today! This one won't last!!

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: North Las Vegas

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260k280kPrice in $84k296k

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

Neighborhood: North Las Vegas

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21000105011001150120012501300135014001450150015501600Rent in $9651603

* 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
D.l. Dusty Dickens Elementary School Primary Regular 753 43 6
Clifford O. Findlay Middle School Middle Regular 1,372 59 NA
Mojave High School High Regular 2,311 103 2

D.l. Dusty Dickens Elementary School

  • Education Level: Primary
  • # of students: 753
  • # of teachers: 43
6
GreatSchools Rating

Clifford O. Findlay Middle School

  • Education Level: Middle
  • # of students: 1,372
  • # of teachers: 59
NA
GreatSchools Rating

Mojave High School

  • Education Level: High
  • # of students: 2,311
  • # of teachers: 103
2
GreatSchools Rating
 

$247,500$302,500$275,000

PURCHASE PRICE

$1,215$1,485$1,350

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,350
EXPENSES Loan Payment -$1,015
Property Tax -$214
Property Insurance -$52
Property Management Fees -$119
CASH FLOW
-$50

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.

$275,000

PROJECTED PRICE

$1,350

PROJECTED RENT

0.49%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.75%
Appreciation Year (1-5) 11.1%
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$78,625

INVESTMENT

$78,625

Down Payment
$68,750
Rehab Estimate
$5,750
Closing Costs
$4,125

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,015

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $68,750
Loan Amount $206,250
See What Happens When You Reinvest Cash Flow

4.58

YEARS SAVED

$14,503

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,350

    LIST RENT
  • $1.06

    LIST RENT PER SQFT
  • $1,112

    COMP ESTIMATED VALUE
  • $0.87

    COMP AVG. RENT PER SQFT
Comps Range
$1,225
1$1,2252$1,3503$1,3504$1,3505$1,375
$1,375
RENT COMPS ANALYSIS
  • 3521 Discovery Downs Court North Las Vegas, NV 4
    • 3 beds 2 baths ∙ 1,274 Sqft ∙ Built 2008 3 beds 2 baths ∙ 1,274 Sqft ∙ Built 2008
    • Rent
    • Rent Per SQFT
    •  
    • $1,350
    • $1.06
    •  
  • 3728 Pecos Park Avenue Las Vegas, NV 1
    • 3 beds 2 baths ∙ 1,467 Sqft ∙ Built 2007 3 beds 2 baths ∙ 1,467 Sqft ∙ Built 2007
    LEASED 07/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,225
    • $0.84
    •  
  • 3653 Turquoise Waters Avenue North Las Vegas, NV 2
    • 3 beds 3 baths ∙ 1,539 Sqft ∙ Built 2006 3 beds 3 baths ∙ 1,539 Sqft ∙ Built 2006
    LEASED 02/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,350
    • $0.88
    •  
  • 3529 Labrusca Vines Court North Las Vegas, NV 3
    • 3 beds 3 baths ∙ 1,537 Sqft ∙ Built 2006 3 beds 3 baths ∙ 1,537 Sqft ∙ Built 2006
    LEASED 05/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,350
    • $0.88
    •  
  • 5548 Stelle Amore North Las Vegas, NV 5
    • 3 beds 3 baths ∙ 1,539 Sqft ∙ Built 2006 3 beds 3 baths ∙ 1,539 Sqft ∙ Built 2006
    LEASED 06/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,375
    • $0.89
    •  
PROPERTY LISTING DETAILS
Brandy Vossmer
1.702.423.3176
Elite Realty
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2256817
Last Updated: 12/19/2020
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