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3561 Regents Court Las Vegas, NV 89121

3 Beds 2 Baths 1,478 sqft Built 1963

$289,900

List Price

$1,350

$1.2K - $1.5K

Rent Est.

PROPERTY INFO

December 02, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1963
  • Price/Sqft : $196.14
  • 5 Days on Market
  • MLS # : 2251977
  • Updated Date : 12/03/2020 at 13:29
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,478 sqft
  • Baths : 2 full
Listing Agent

Resolution Realty

Listing Agent's Description

*BEAUTIFUL SINGLE STORY BOTH INSIDE & OUT! THIS WELL-CARED FOR SIREN SHOWCASES MODERNITY COUPLED w/NOSTALGIA*LUSH LANDSCAPING & CUSTOM DOOR WELCOME YOU*STEP INSIDE & FIND AN ACID ETCHED GLASS MIRROR OPPOSITE YOU*BEAUTIFUL LIVING RM BOASTS A JAZZY STONE ACCENT WALL/GORGEOUS WOOD LAMINATE FLOOR/BASE BOARDS/CEILING FAN & CUSTOM PAINT*FAMILY ROOM AREA w/TILE FLOORS & EAT-IN KITCHEN AREA MADE EXTRA COZY w/ A WOOD-BURNING FIREPLACE*KITCHEN IS FABULOUS; STUNNING GRANITE CNTRS/AMAZING REFRIGERATOR & UBER RETRO BUILT-IN OVEN & STOVE COOKTOP! THIS GEM IS ONE OF KIND & IS IN EXCELLENT WORKING CONIDTION! ALL BDRMS ARE SPACIOUS*PRIMARY BEDROOM COMES WITH REAL HARDWOOD FLOORS & AN AWESOME WOOD BED FRAME THAT STAYS! FUN BARN DOOR LEADS YOU TO UPGRADED BATHROOM w/STEP-IN SHOWER*AWESOME WLK-IN CLOSET w/CEDAR*COVERED PATIO IN BACKYARD OFFERS GREAT SPACE FOR ENTERTAINING*CHECK OUT THE TREE HOUSE w/ELECTRICITY & A SLIDE! GARAGE IS DETACHED & COMES WITH CABINETS & A WORKBENCH*WASHER/DRYER ARE NEGOTIABLE*

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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: Winchester

NeighborhoodNIR Market*CityMarket2010Year2000201980k100k120k140k160k180k200k220k240k260k280kPrice in $80k296k

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

Neighborhood: Winchester

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
Will Beckley Elementary School Primary Regular 943 47 3
Jerome Mack Middle School Middle Regular 1,275 56 NA
Chaparral High School High Regular 2,270 87 3

Will Beckley Elementary School

  • Education Level: Primary
  • # of students: 943
  • # of teachers: 47
3
GreatSchools Rating

Jerome Mack Middle School

  • Education Level: Middle
  • # of students: 1,275
  • # of teachers: 56
NA
GreatSchools Rating

Chaparral High School

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

$260,910$318,890$289,900

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 -$1,070
Property Tax -$110
Property Insurance -$56
Property Management Fees -$119
CASH FLOW
-$4

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.

$289,900

PROJECTED PRICE

$1,350

PROJECTED RENT

0.47%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.75%
Appreciation Year (1-5) 10.1%
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$14k$16k

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$82,574

INVESTMENT

$82,574

Down Payment
$72,475
Rehab Estimate
$5,750
Closing Costs
$4,349

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,070

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $72,475
Loan Amount $217,425
See What Happens When You Reinvest Cash Flow

5.58

YEARS SAVED

$21,140

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
  • $0.91

    LIST RENT PER SQFT
  • $1,334

    COMP ESTIMATED VALUE
  • $0.9

    COMP AVG. RENT PER SQFT
Comps Range
$1,250
1$1,2502$1,3003$1,3504$1,3955$1,500
$1,500
RENT COMPS ANALYSIS
  • 3561 Regents Court Las Vegas, NV 3
    • 3 beds 2 baths ∙ 1,478 Sqft ∙ Built 1963 3 beds 2 baths ∙ 1,478 Sqft ∙ Built 1963
    • Rent
    • Rent Per SQFT
    •  
    • $1,350
    • $0.91
    •  
  • 3565 Freedom Avenue Las Vegas, NV 1
    • 3 beds 1 baths ∙ 1,362 Sqft ∙ Built 1972 3 beds 1 baths ∙ 1,362 Sqft ∙ Built 1972
    LEASED 02/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,250
    • $0.92
    •  
  • 3169 Westfield Circle Las Vegas, NV 2
    • 3 beds 2 baths ∙ 1,380 Sqft ∙ Built 1964 3 beds 2 baths ∙ 1,380 Sqft ∙ Built 1964
    LEASED 03/26/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,300
    • $0.94
    •  
  • 3391 Pavlo Street Las Vegas, NV 4
    • 3 beds 1 baths ∙ 1,637 Sqft ∙ Built 1979 3 beds 1 baths ∙ 1,637 Sqft ∙ Built 1979
    LEASED 09/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,395
    • $0.85
    •  
  • 3244 Nottingham Drive Las Vegas, NV 5
    • 3 beds 2 baths ∙ 1,674 Sqft ∙ Built 1964 3 beds 2 baths ∙ 1,674 Sqft ∙ Built 1964
    LEASED 01/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $0.90
    •  
PROPERTY LISTING DETAILS
Ehren Alessi
1.702.800.5054
Resolution Realty
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2251977
Last Updated: 12/03/2020
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