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3646 Laguna Veneta Avenue Las Vegas, NV 89141

2 Beds 2 Baths 1,151 sqft Built 2001

$275,000

List Price

$1,150

$1K - $1.3K

Rent Est.

PROPERTY INFO

FACTS
  • Built In 2001
  • Price/Sqft : $238.92
  • 10 Days on Market
  • MLS # : 2240976
  • Updated Date : 10/25/2020 at 08:58
CONSTRUCTION
  • Beds : 2
  • Floor Size : 1,151 sqft
  • Baths : 2 full
Listing Agent

Urban Nest Realty

Listing Agent's Description

Move-in ready single story in Southern Highlands! This 2 BR home features an open floor plan with tile flooring throughout the living areas. In addition, it boasts a den (which could easily become a 3rd BR), recessed lighting, ceiling fans and a covered patio. The bedrooms have brand new carpets and the entire house was just painted. Have a look, you won't be disappointed!

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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)

PRICE & RENT TRENDS

Neighborhood: Southern Highlands

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320k340k360k380k400kPrice in $119k410k

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

Neighborhood: Southern Highlands

NeighborhoodNIR Market*CityMarket2010Year20002019 Q211001200130014001500160017001800Rent in $10761875

* 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
Dennis Ortwein Elementary School Primary Unknown NA
Lois And Jerry Tarkanian Middle School Middle Regular 1,739 71 NA
Desert Oasis High School High Regular 2,417 102 5

Dennis Ortwein Elementary School

  • Education Level: Primary
  • # of students:
  • # of teachers:
NA
GreatSchools Rating

Lois And Jerry Tarkanian Middle School

  • Education Level: Middle
  • # of students: 1,739
  • # of teachers: 71
NA
GreatSchools Rating

Desert Oasis High School

  • Education Level: High
  • # of students: 2,417
  • # of teachers: 102
5
GreatSchools Rating
 

$247,500$302,500$275,000

PURCHASE PRICE

$1,035$1,265$1,150

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,150
EXPENSES Loan Payment -$1,015
Property Tax -$172
Property Insurance -$50
Property Management Fees -$119
CASH FLOW
-$205

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.

$275,000

PROJECTED PRICE

$1,150

PROJECTED RENT

0.42%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.05%
Appreciation Year (1-5) 8.0%
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$100k$200k$300k$400k$500k$600k$700k$800k$900k

PROJECTED ANNUAL CASH FLOW

11530-$4.0k-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k$700k$800k$900k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$78,625

INVESTMENT

$78,625

Down Payment
$68,750
Rehab Estimate
$5,750
Closing Costs
$4,125

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,015

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $68,750
Loan Amount $206,250
See What Happens When You Reinvest Cash Flow

2.5

YEARS SAVED

$5,970

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,150

    LIST RENT
  • $1

    LIST RENT PER SQFT
  • $1,151

    COMP ESTIMATED VALUE
  • $1

    COMP AVG. RENT PER SQFT
Comps Range
$1,150
1$1,1502$1,2503$1,2754$1,3955$1,400
$1,400
RENT COMPS ANALYSIS
  • 3646 Laguna Veneta Avenue Las Vegas, NV 1
    • 2 beds 2 baths ∙ 1,151 Sqft ∙ Built 2001 2 beds 2 baths ∙ 1,151 Sqft ∙ Built 2001
    • Rent
    • Rent Per SQFT
    •  
    • $1,150
    • $1.00
    •  
  • 3370 Villa Fiori Avenue Las Vegas, NV 2
    • 2 beds 3 baths ∙ 1,345 Sqft ∙ Built 2005 2 beds 3 baths ∙ 1,345 Sqft ∙ Built 2005
    LEASED 05/13/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,250
    • $0.93
    •  
  • 11739 Magliana Street #n/a Las Vegas, NV 3
    • 2 beds 2 baths ∙ 1,241 Sqft ∙ Built 2002 2 beds 2 baths ∙ 1,241 Sqft ∙ Built 2002
    LEASED 05/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,275
    • $1.03
    •  
  • 4466 Shallow Brush Avenue Las Vegas, NV 4
    • 2 beds 2 baths ∙ 1,359 Sqft ∙ Built 2007 2 beds 2 baths ∙ 1,359 Sqft ∙ Built 2007
    LEASED 07/03/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,395
    • $1.03
    •  
  • 11760 Elianto Street #0 Las Vegas, NV 5
    • 2 beds 2 baths ∙ 1,383 Sqft ∙ Built 2003 2 beds 2 baths ∙ 1,383 Sqft ∙ Built 2003
    LEASED 02/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,400
    • $1.01
    •  
PROPERTY LISTING DETAILS
Azim Jessa
1.702.569.9353
Urban Nest Realty
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2240976
Last Updated: 10/25/2020
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