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3621 Thom Boulevard Las Vegas, NV 89130

4 Beds 1 Baths 1,938 sqft Built 1979

$460,000

List Price

$1,670

$1.5K - $1.8K

Rent Est.

PROPERTY INFO

November 14, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1979
  • Price/Sqft : $237.36
  • 2 Days on Market
  • MLS # : 2247466
  • Updated Date : 11/14/2020 at 14:30
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,938 sqft
  • Baths : 1 full
Listing Agent

Offerpad

Listing Agent's Description

WOW! Gorgeous UPDATED 1 story home w/4 BRs, 2 BAs & a pool. NO HOA! RV parking. NEW exterior & interior paint. NEW carpet & vinyl plank flooring. NEW lighting through out. Spacious open floor plan. Great room w/lots of natural lighting. The kitchen features an island w/breakfast bar, NEW quartz counters, shaker cabinets, faucet, garbage disposal & SS microwave, dishwasher & range (to be installed prior to COE). Master bedroom w/2 closets & an ensuite bath w/walk-in shower. Both baths w/NEW vanity, faucet, toilet & shower head. Huge backyard has a patio and large pool. HVAC repaired. Pool equipment repaired & pool replastered. NEW roof. MUST SEE TODAY!

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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)

PRICE & RENT TRENDS

Neighborhood: Homestead Estates

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320k340kPrice in $119k358k

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

Neighborhood: Homestead Estates

NeighborhoodNIR Market*CityMarket2010Year20002019 Q211001150120012501300135014001450150015501600Rent in $10651620

* 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
Claude And Stella Parson Elementary School Primary Regular 452 26 3
Theron L. Swainston Middle School Middle Regular 1,146 52 NA
Cheyenne High School High Regular 2,212 91 2

Claude And Stella Parson Elementary School

  • Education Level: Primary
  • # of students: 452
  • # of teachers: 26
3
GreatSchools Rating

Theron L. Swainston Middle School

  • Education Level: Middle
  • # of students: 1,146
  • # of teachers: 52
NA
GreatSchools Rating

Cheyenne High School

  • Education Level: High
  • # of students: 2,212
  • # of teachers: 91
2
GreatSchools Rating
 

$414,000$506,000$460,000

PURCHASE PRICE

$1,503$1,837$1,670

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,670
EXPENSES Loan Payment -$1,697
Property Tax -$224
Property Insurance -$65
Property Management Fees -$119
CASH FLOW
-$435

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.

$460,000

PROJECTED PRICE

$1,670

PROJECTED RENT

0.36%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.96%
Appreciation Year (1-5) 10.1%
Maintenance Year (1-5) 8.00%
Vacancy 7.63%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M$1.6M

PROJECTED ANNUAL CASH FLOW

11530-$5.0k$0.0$5.0k$10k$15k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M$1.6M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$127,650

INVESTMENT

$127,650

Down Payment
$115,000
Rehab Estimate
$5,750
Closing Costs
$6,900

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 60% down payment or higher enables the proceeds from the asset to cover all costs.

$1,697

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $115,000
Loan Amount $345,000
See What Happens When You Reinvest Cash Flow

1.58

YEARS SAVED

$5,001

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,670

    LIST RENT
  • $0.86

    LIST RENT PER SQFT
  • $1,715

    COMP ESTIMATED VALUE
  • $0.89

    COMP AVG. RENT PER SQFT
Comps Range
$1,450
1$1,4502$1,4953$1,6504$1,6705$1,850
$1,850
RENT COMPS ANALYSIS
  • 3621 Thom Boulevard Las Vegas, NV 4
    • 4 beds 1 baths ∙ 1,938 Sqft ∙ Built 1979 4 beds 1 baths ∙ 1,938 Sqft ∙ Built 1979
    • Rent
    • Rent Per SQFT
    •  
    • $1,670
    • $0.86
    •  
  • 3444 Trilogy Drive Las Vegas, NV 1
    • 3 beds 3 baths ∙ 1,761 Sqft ∙ Built 1998 3 beds 3 baths ∙ 1,761 Sqft ∙ Built 1998
    LEASED 02/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $0.82
    •  
  • 4628 Denali North Las Vegas, NV 2
    • 4 beds 1 baths ∙ 1,788 Sqft ∙ Built 1995 4 beds 1 baths ∙ 1,788 Sqft ∙ Built 1995
    LEASED 04/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,495
    • $0.84
    •  
  • 4717 Pointe Decatur North Las Vegas, NV 3
    • 3 beds 2 baths ∙ 1,774 Sqft ∙ Built 1994 3 beds 2 baths ∙ 1,774 Sqft ∙ Built 1994
    LEASED 05/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.93
    •  
  • 3721 Thom Boulevard Las Vegas, NV 5
    • 4 beds 2 baths ∙ 1,938 Sqft ∙ Built 1979 4 beds 2 baths ∙ 1,938 Sqft ∙ Built 1979
    LEASED 12/01/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $0.95
    •  
PROPERTY LISTING DETAILS
Robert E Jones
1.480.636.9175
Offerpad
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2247466
Last Updated: 11/14/2020
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