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3606 Via Margarita Avenue Las Vegas, NV 89115

4 Beds 3 Baths 1,339 sqft Built 2018

$240,000

List Price

$1,360

$1.2K - $1.5K

Rent Est.

PROPERTY INFO

December 21, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2018
  • Price/Sqft : $179.24
  • 7 Days on Market
  • MLS # : 2256926
  • Updated Date : 12/21/2020 at 11:29
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,339 sqft
  • Baths : 2 full , 1 half
Listing Agent

Exp Realty

Listing Agent's Description

This charming home is tucked away in the community right across from a community park. Open floorplan with a great kitchen complete with granite counter tops and island. Inviting yard that has been landscaped with a large side yard for toys and storage. The fourth bedroom has a great view of the Las Vegas Strip. The best location in the community. Affordable living at it's best.

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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: Sunrise Manor

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260k280kPrice in $83k296k

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

Neighborhood: Sunrise Manor

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21000105011001150120012501300135014001450150015501600Rent in $9591603

* 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
Manuele J. Cortez Elementary School Primary Regular 871 44 4
Mario C And Joanne Monaco Middle School Middle Regular 1,426 53 NA
Desert Pines High School High Regular 2,279 99 1

Manuele J. Cortez Elementary School

  • Education Level: Primary
  • # of students: 871
  • # of teachers: 44
4
GreatSchools Rating

Mario C And Joanne Monaco Middle School

  • Education Level: Middle
  • # of students: 1,426
  • # of teachers: 53
NA
GreatSchools Rating

Desert Pines High School

  • Education Level: High
  • # of students: 2,279
  • # of teachers: 99
1
GreatSchools Rating
 

$216,000$264,000$240,000

PURCHASE PRICE

$1,224$1,496$1,360

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,360
EXPENSES Loan Payment -$886
Property Tax -$186
Property Insurance -$53
Property Management Fees -$119
CASH FLOW
$117

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.

$240,000

PROJECTED PRICE

$1,360

PROJECTED RENT

0.57%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.75%
Appreciation Year (1-5) 12.8%
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$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$69,350

INVESTMENT

$69,350

Down Payment
$60,000
Rehab Estimate
$5,750
Closing Costs
$3,600

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 40% down payment or higher enables the proceeds from the asset to cover all costs.

$886

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $60,000
Loan Amount $180,000
See What Happens When You Reinvest Cash Flow

7.75

YEARS SAVED

$28,207

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,360

    LIST RENT
  • $1.02

    LIST RENT PER SQFT
  • $1,178

    COMP ESTIMATED VALUE
  • $0.88

    COMP AVG. RENT PER SQFT
Comps Range
$1,175
1$1,1752$1,1953$1,3004$1,3505$1,360
$1,360
RENT COMPS ANALYSIS
  • 3606 Via Margarita Avenue Las Vegas, NV 5
    • 4 beds 3 baths ∙ 1,339 Sqft ∙ Built 2018 4 beds 3 baths ∙ 1,339 Sqft ∙ Built 2018
    • Rent
    • Rent Per SQFT
    •  
    • $1,360
    • $1.02
    •  
  • 3710 Spiritual Way #0 Las Vegas, NV 1
    • 3 beds 2 baths ∙ 1,370 Sqft ∙ Built 2006 3 beds 2 baths ∙ 1,370 Sqft ∙ Built 2006
    LEASED 02/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,175
    • $0.86
    •  
  • 1825 Luna Alegre Street Las Vegas, NV 2
    • 3 beds 3 baths ∙ 1,346 Sqft ∙ Built 2007 3 beds 3 baths ∙ 1,346 Sqft ∙ Built 2007
    LEASED 03/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,195
    • $0.89
    •  
  • 1829 Luna Alegre Street Las Vegas, NV 3
    • 3 beds 3 baths ∙ 1,509 Sqft ∙ Built 2007 3 beds 3 baths ∙ 1,509 Sqft ∙ Built 2007
    LEASED 12/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,300
    • $0.86
    •  
  • 3621 Karissa Heights Place Las Vegas, NV 4
    • 3 beds 3 baths ∙ 1,482 Sqft ∙ Built 2010 3 beds 3 baths ∙ 1,482 Sqft ∙ Built 2010
    LEASED 01/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,350
    • $0.91
    •  
PROPERTY LISTING DETAILS
Larissa Swany
1.702.467.6862
Exp Realty
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2256926
Last Updated: 12/21/2020
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