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3689 Spring Shower Drive Las Vegas, NV 89147

5 Beds 3 Baths 2,264 sqft Built 1995

INVESTimate

$359,999

List Price

$1,750

$1,575 - $1,925

Rent Est.

$395,675  ( +9.91%)   1 YR EST. FORECAST

PROPERTY INFO

August 23, 2020 RECENTLY ADDED
FACTS
  • Built In 1995
  • Price/Sqft : $159.01
  • 7 Days on Market
  • MLS # : 2223523
  • Updated Date : 08/23/2020 at 12:23
CONSTRUCTION
  • Beds : 5
  • Floor Size : 2,264 sqft
  • Baths : 3 full
Listing Agent

Realty One Group, Inc

Listing Agent's Description

Corner lot with NO HOA and swimming pool for entertaining, priced amazing home with Master Retreat! Priced to Sell! Downstairs Den can be closed to create full bed and bathroom downstairs currently the 5th bedroom is shown downstairs as a den*

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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: Spring Valley

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280kPrice in $119k296k

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

Neighborhood: Spring Valley

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2105011001150120012501300135014001450150015501600Rent in $10381606

* 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
Roger M. Bryan Elementary School Primary Regular 651 34 6
Lawrence Junior High School Middle Regular 1,421 61 NA
Spring Valley High School High Regular 1,925 79 4

Roger M. Bryan Elementary School

  • Education Level: Primary
  • # of students: 651
  • # of teachers: 34
6
GreatSchools Rating

Lawrence Junior High School

  • Education Level: Middle
  • # of students: 1,421
  • # of teachers: 61
NA
GreatSchools Rating

Spring Valley High School

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

$323,999$395,999$359,999

PURCHASE PRICE

$1,575$1,925$1,750

RENT

DOWN PAYMENT
FINANCING

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

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

PROJECTED ANNUAL CASH FLOW

11530$0.0$5.0k$10k$15k$20k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,750
EXPENSES Loan Payment -$1,328
Property Tax -$226
Property Insurance -$71
Property Management Fees -$119
CASH FLOW
$6

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.

$359,999

PROJECTED PRICE

$1,750

PROJECTED RENT

0.49%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.96%
Appreciation Year (1-5) 9.91%
Maintenance Year (1-5) 8.00%
Vacancy 7.63%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$101,150

INVESTMENT

$101,150

Down Payment
$90,000
Rehab Estimate
$5,750
Closing Costs
$5,400

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,328

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $90,000
Loan Amount $269,999
See What Happens When You Reinvest Cash Flow

6.08

YEARS SAVED

$29,079

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,750

    LIST RENT
  • $0.77

    LIST RENT PER SQFT
  • $1,698

    COMP ESTIMATED VALUE
  • $0.75

    COMP AVG. RENT PER SQFT
Comps Range
$1,595
1$1,5952$1,6503$1,7004$1,7505$1,800
$1,800
RENT COMPS ANALYSIS
  • 3689 Spring Shower Drive Las Vegas, NV 4
    • 5 beds 3 baths ∙ 2,264 Sqft ∙ Built 1995 5 beds 3 baths ∙ 2,264 Sqft ∙ Built 1995
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.77
    •  
  • 3455 Ceremony Las Vegas, NV 1
    • 4 beds 3 baths ∙ 2,230 Sqft ∙ Built 1995 4 beds 3 baths ∙ 2,230 Sqft ∙ Built 1995
    LEASED 03/26/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $0.72
    •  
  • 7944 Timber Horn Court #0 Las Vegas, NV 2
    • 4 beds 2 baths ∙ 2,268 Sqft ∙ Built 1995 4 beds 2 baths ∙ 2,268 Sqft ∙ Built 1995
    LEASED 05/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.73
    •  
  • 3648 Spring Shower Drive Las Vegas, NV 3
    • 5 beds 2 baths ∙ 2,264 Sqft ∙ Built 1995 5 beds 2 baths ∙ 2,264 Sqft ∙ Built 1995
    LEASED 03/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $0.75
    •  
  • 3537 Spring Vistas Drive Las Vegas, NV 5
    • 4 beds 3 baths ∙ 2,264 Sqft ∙ Built 1994 4 beds 3 baths ∙ 2,264 Sqft ∙ Built 1994
    LEASED 03/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $0.80
    •  
PROPERTY LISTING DETAILS
Daniela Mejia
1.702.273.8221
Realty One Group, Inc
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2223523
Last Updated: 08/23/2020
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