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3567 Fair Bluff Street Las Vegas, NV 89135

5 Beds 2 Baths 3,723 sqft Built 2001

$699,900

List Price

$3,120

$2.9K - $3.4K

Rent Est.

PROPERTY INFO

FACTS
  • Single Family
  • Built In 2001
  • Price/Sqft : $187.99
  • 35 Days on Market
  • MLS # : 2259221
  • Updated Date : 02/03/2021 at 16:17
CONSTRUCTION
  • Beds : 5
  • Floor Size : 3,723 sqft
  • Baths : 2 full
Listing Agent

Better Life Realty

Listing Agent's Description

5Bedroom/4Bath Home with Pool in the Heart of Summerlin. This classic Summerlin home has been updated with beautiful finishes throughout. Kitchen features white shaker cabinets, SS appliances, large quartz island, countertops and backsplash. Custom designer accent walls. Renovated Master bedroom suite has unobstructed mountain views, hardwood flooring, and large updated master bathroom. Bedroom & 3/4 bath downstairs. Upstairs has a large loft and a guest bedroom en suite. Large pool & spa in a landscaped backyard. Walking distance to coffee shops, large Garden Park & Community Center.

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: The Gardens

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450kPrice in $119k497k

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

Neighborhood: The Gardens

NeighborhoodNIR Market*CityMarket2010Year20002019 Q212001400160018002000220024002600Rent in $10762685

* 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
Judy And John Goolsby Elementary School Primary Regular 807 42 10
Victoria Fertitta Middle School Middle Regular 1,472 60 NA
Spring Valley High School High Regular 1,925 79 4

Judy And John Goolsby Elementary School

  • Education Level: Primary
  • # of students: 807
  • # of teachers: 42
10
GreatSchools Rating

Victoria Fertitta Middle School

  • Education Level: Middle
  • # of students: 1,472
  • # of teachers: 60
NA
GreatSchools Rating

Spring Valley High School

  • Education Level: High
  • # of students: 1,925
  • # of teachers: 79
4
GreatSchools Rating
 

$629,910$769,890$699,900

PURCHASE PRICE

$2,808$3,432$3,120

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,120
EXPENSES Loan Payment -$2,431
Property Tax -$411
Property Insurance -$99
Property Management Fees -$119
CASH FLOW
$60

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.

$699,900

PROJECTED PRICE

$3,120

PROJECTED RENT

0.45%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.05%
Appreciation Year (1-5) 8.3%
Maintenance Year (1-5) 8.00%
Vacancy 7.57%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$500k$1.0M$1.5M$2.0M$2.5M

PROJECTED ANNUAL CASH FLOW

11530-$5.0k$0.0$5.0k$10k$15k$20k$25k$30k$35k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$500k$1.0M$1.5M$2.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$191,224

INVESTMENT

$191,224

Down Payment
$174,975
Rehab Estimate
$5,750
Closing Costs
$10,499

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 45% down payment or higher enables the proceeds from the asset to cover all costs.

$2,431

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $174,975
Loan Amount $524,925
See What Happens When You Reinvest Cash Flow

6.33

YEARS SAVED

$52,253

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,120

    LIST RENT
  • $0.84

    LIST RENT PER SQFT
  • $3,118

    COMP ESTIMATED VALUE
  • $0.84

    COMP AVG. RENT PER SQFT
Comps Range
$2,700
1$2,7002$2,8003$3,1204$3,4755$3,495
$3,495
RENT COMPS ANALYSIS
  • 3567 Fair Bluff Street Las Vegas, NV 3
    • 5 beds 2 baths ∙ 3,723 Sqft ∙ Built 2001 5 beds 2 baths ∙ 3,723 Sqft ∙ Built 2001
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $3,120
    • $0.84
    •  
  • 3622 Red Fir Las Vegas, NV 1
    • 5 beds 2 baths ∙ 3,723 Sqft ∙ Built 2002 5 beds 2 baths ∙ 3,723 Sqft ∙ Built 2002
    property image
    LEASED 07/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,700
    • $0.73
    •  
  • 11007 Turlington Lane Las Vegas, NV 2
    • 5 beds 2 baths ∙ 3,723 Sqft ∙ Built 2002 5 beds 2 baths ∙ 3,723 Sqft ∙ Built 2002
    property image
    LEASED 10/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,800
    • $0.75
    •  
  • 3586 Fair Bluff Street Las Vegas, NV 4
    • 5 beds 2 baths ∙ 3,723 Sqft ∙ Built 2001 5 beds 2 baths ∙ 3,723 Sqft ∙ Built 2001
    property image
    LEASED 09/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,475
    • $0.93
    •  
  • 3066 Lenoir Street Las Vegas, NV 5
    • 5 beds 3 baths ∙ 3,723 Sqft ∙ Built 2001 5 beds 3 baths ∙ 3,723 Sqft ∙ Built 2001
    property image
    LEASED 09/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,495
    • $0.94
    •  
PROPERTY LISTING DETAILS
Liliane Nguyen-floratos
1.702.918.5800
Better Life Realty
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2259221
Last Updated: 02/03/2021
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