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3524 Sweden Street Las Vegas, NV 89129

3 Beds 3 Baths 1,754 sqft Built 2003

INVESTimate

$320,000

List Price

$1,500

$1,350 - $1,650

Rent Est.

$352,992  ( +10.31%)   1 YR EST. FORECAST

PROPERTY INFO

August 25, 2020 RECENTLY ADDED
FACTS
  • Built In 2003
  • Price/Sqft : $182.44
  • 6 Days on Market
  • MLS # : 2224189
  • Updated Date : 08/25/2020 at 12:46
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,754 sqft
  • Baths : 2 full , 1 half
Listing Agent

King Realty Group

Listing Agent's Description

Recently Remodeled Gated Move In Ready Home Minutes from Summerlin* large Balcony off large Master bedroom* Raised lot so clear view behind house** Matching granite thru out home * Large open floor plan with open kitchen * Stainless steel appliances *Reverse osmosis and soft water conditioner included**Ceiling fans in all rooms* Solar screens on windows were needed* Back yard has has covered area from Balcony * Mature landscaped with two sheds included in sale **Exterior painted last year* new water heater* Near two amazing parks with softball fields tennis basketball courts and more * Ultra quiet community** Close to shopping & freeway access * Hoa maintains front yard

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: 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
Edith Garehime Elementary School Primary Regular 631 32 7
Justice M E Leavitt Middle School Middle Regular 1,496 64 NA
Centennial High School High Regular 3,055 124 6

Edith Garehime Elementary School

  • Education Level: Primary
  • # of students: 631
  • # of teachers: 32
7
GreatSchools Rating

Justice M E Leavitt Middle School

  • Education Level: Middle
  • # of students: 1,496
  • # of teachers: 64
NA
GreatSchools Rating

Centennial High School

  • Education Level: High
  • # of students: 3,055
  • # of teachers: 124
6
GreatSchools Rating
 

$288,000$352,000$320,000

PURCHASE PRICE

$1,350$1,650$1,500

RENT

DOWN PAYMENT
FINANCING

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$200k$400k$600k$800k$1.0M$1.2M

PROJECTED ANNUAL CASH FLOW

11530-$4.0k-$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

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,500
EXPENSES Loan Payment -$1,181
Property Tax -$227
Property Insurance -$61
HOA -$80
Property Management Fees -$119
CASH FLOW
-$168

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.

$320,000

PROJECTED PRICE

$1,500

PROJECTED RENT

0.47%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.96%
Appreciation Year (1-5) 10.31%
Maintenance Year (1-5) 8.00%
Vacancy 7.63%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$90,550

INVESTMENT

$90,550

Down Payment
$80,000
Rehab Estimate
$5,750
Closing Costs
$4,800

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,181

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $80,000
Loan Amount $240,000
See What Happens When You Reinvest Cash Flow

3.25

YEARS SAVED

$9,922

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,500

    LIST RENT
  • $0.86

    LIST RENT PER SQFT
  • $1,526

    COMP ESTIMATED VALUE
  • $0.87

    COMP AVG. RENT PER SQFT
Comps Range
$1,495
1$1,4952$1,5003$1,6004$1,6005$1,700
$1,700
RENT COMPS ANALYSIS
  • 3524 Sweden Street Las Vegas, NV 2
    • 3 beds 3 baths ∙ 1,754 Sqft ∙ Built 2003 3 beds 3 baths ∙ 1,754 Sqft ∙ Built 2003
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $0.86
    •  
  • 10033 Bonterra Avenue #0 Las Vegas, NV 1
    • 3 beds 3 baths ∙ 1,796 Sqft ∙ Built 2006 3 beds 3 baths ∙ 1,796 Sqft ∙ Built 2006
    property image
    LEASED 03/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,495
    • $0.83
    •  
  • 3601 Ashling Street Las Vegas, NV 3
    • 4 beds 3 baths ∙ 1,794 Sqft ∙ Built 1998 4 beds 3 baths ∙ 1,794 Sqft ∙ Built 1998
    property image
    LEASED 09/13/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $0.89
    •  
  • 10060 Bonterra Avenue Las Vegas, NV 4
    • 4 beds 3 baths ∙ 1,866 Sqft ∙ Built 2006 4 beds 3 baths ∙ 1,866 Sqft ∙ Built 2006
    property image
    LEASED 07/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $0.86
    •  
  • 9536 Glengarry Drive Las Vegas, NV 5
    • 3 beds 3 baths ∙ 1,896 Sqft ∙ Built 1995 3 beds 3 baths ∙ 1,896 Sqft ∙ Built 1995
    property image
    LEASED 08/28/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $0.90
    •  
PROPERTY LISTING DETAILS
Conner L Sheets
1.702.349.8920
King Realty Group
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2224189
Last Updated: 08/25/2020
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