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3714 Asia Road North Las Vegas, NV 89032

3 Beds 3 Baths 2,461 sqft Built 2018

$370,000

List Price

$1,780

$1.6K - $2K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 20, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2018
  • Price/Sqft : $150.35
  • 3 Days on Market
  • MLS # : 2279666
  • Updated Date : 03/20/2021 at 21:36
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,461 sqft
  • Baths : 2 full , 1 half
Listing Agent

Redfin

Listing Agent's Description

Welcome to Davyn Ridge. This beautiful Smart Home is warm & inviting! Downstairs you are greeted with beautiful wood tile plank flooring & gorgeous designer drapery. The Kitchen has granite counter-tops, walk-in pantry, an oversized island & abundance of Espresso cabinetry, overlooking great room for easy flow & convenience for interacting with family & friends. The back yard is just beautiful w/pavers, desert plantings & beautiful fruit trees. Inviting open staircase brings you to the spacious loft, Two nice sized bedrooms, a full bath with dual sinks & convenient upstairs laundry room. The master suite is generous in size with two walk in closets! The master bath is spacious tons of counter-tops, dual sinks and a separate soaking tub and shower. The two car garage includes a tank-less water heater. This Community features solar for low utility bills and smart home features throughout. Upgrades are generous in this beautiful home, and is what sets it apart from the rest!

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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: International Village

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260k280kPrice in $84k296k

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

Neighborhood: International Village

NeighborhoodNIR Market*CityMarket2010Year20002019 Q210001050110011501200125013001350140014501500155016001650Rent in $9651669

* 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
Lucile Bruner Elementary School Primary Regular 712 38 2
Theron L. Swainston Middle School Middle Regular 1,146 52 NA
Cheyenne High School High Regular 2,212 91 2

Lucile Bruner Elementary School

  • Education Level: Primary
  • # of students: 712
  • # of teachers: 38
2
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
 

$333,000$407,000$370,000

PURCHASE PRICE

$1,602$1,958$1,780

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,780
EXPENSES Loan Payment -$1,285
Property Tax -$317
Property Insurance -$75
Property Management Fees -$119
CASH FLOW
-$16

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.

$370,000

PROJECTED PRICE

$1,780

PROJECTED RENT

0.48%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.75%
Appreciation Year (1-5) 10.5%
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$1.2M$1.4M

PROJECTED ANNUAL CASH FLOW

11530$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$103,800

INVESTMENT

$103,800

Down Payment
$92,500
Rehab Estimate
$5,750
Closing Costs
$5,550

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 50% down payment or higher enables the proceeds from the asset to cover all costs.

$1,285

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $92,500
Loan Amount $277,500
See What Happens When You Reinvest Cash Flow

4.92

YEARS SAVED

$18,752

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,780

    LIST RENT
  • $0.72

    LIST RENT PER SQFT
  • $1,809

    COMP ESTIMATED VALUE
  • $0.74

    COMP AVG. RENT PER SQFT
Comps Range
$1,700
1$1,7002$1,7753$1,7804$1,8005$1,850
$1,850
RENT COMPS ANALYSIS
  • 3714 Asia Road North Las Vegas, NV 3
    • 3 beds 3 baths ∙ 2,461 Sqft ∙ Built 2018 3 beds 3 baths ∙ 2,461 Sqft ∙ Built 2018
    • Rent
    • Rent Per SQFT
    •  
    • $1,780
    • $0.72
    •  
  • 3513 Fishers Landing Avenue North Las Vegas, NV 1
    • 4 beds 1 baths ∙ 2,222 Sqft ∙ Built 2003 4 beds 1 baths ∙ 2,222 Sqft ∙ Built 2003
    LEASED 07/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $0.77
    •  
  • 3694 Blake Canyon Drive North Las Vegas, NV 2
    • 3 beds 3 baths ∙ 2,480 Sqft ∙ Built 2008 3 beds 3 baths ∙ 2,480 Sqft ∙ Built 2008
    LEASED 01/04/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,775
    • $0.72
    •  
  • 3833 Alpine Track Avenue North Las Vegas, NV 4
    • 4 beds 3 baths ∙ 2,480 Sqft ∙ Built 2008 4 beds 3 baths ∙ 2,480 Sqft ∙ Built 2008
    LEASED 11/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $0.73
    •  
  • 3725 Blissful Bluff Street North Las Vegas, NV 5
    • 4 beds 3 baths ∙ 2,560 Sqft ∙ Built 2015 4 beds 3 baths ∙ 2,560 Sqft ∙ Built 2015
    LEASED 02/07/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $0.72
    •  
PROPERTY LISTING DETAILS
Cheryl A Van Elsis
1.702.612.7777
Redfin
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2279666
Last Updated: 03/20/2021
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