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3720 Portiani Drive Las Vegas, NV 89141

4 Beds 4 Baths 3,368 sqft Built 2017

INVESTimate

$699,000

List Price

$2,740

$2,490 - $2,990

Rent Est.

$767,432  ( +9.79%)   1 YR EST. FORECAST

PROPERTY INFO

August 23, 2020 RECENTLY ADDED
FACTS
  • Built In 2017
  • Price/Sqft : $207.54
  • 5 Days on Market
  • MLS # : 2224229
  • Updated Date : 08/22/2020 at 21:30
CONSTRUCTION
  • Beds : 4
  • Floor Size : 3,368 sqft
  • Baths : 3 full , 1 half
Listing Agent

Elite Realty

Listing Agent's Description

OVER 100K IN UPGRADES SHOWS LIKE THE MODEL! 4"WHITE PLANTATION SHUTTERS ALL ROOMS, EXTENDED PAVERS IN SIDE &BACK, COVERED &DURALUM PATIO COVER,GRAY LAMINATE WOOD FLOOR 1ST FLOOR AND STAIRS, UPGRADED CARPET IN ROOMS, 3 SCREENED SECURITY GATES,SHOWERS/TUBS FINISHED TO CEILING UPGRADED TILE,ARCTIC WHITE STACKED STONEACCENT WALL IN FAMILY ROOM, TILED GUEST/POWDER WAINSCOT, EPOXY GARAGE FLOORS, NEST THERMOSTAT, UPGRADED TOTO TOILETS,INSULATED GARAGE

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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: Enterprise

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320k340k360kPrice in $119k362k

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

Neighborhood: Enterprise

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2100011001200130014001500160017001800Rent in $9981875

* 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
Evelyn Stuckey Elementary School Primary Regular 949 46 8
Lois And Jerry Tarkanian Middle School Middle Regular 1,739 71 NA
Desert Oasis High School High Regular 2,417 102 5

Evelyn Stuckey Elementary School

  • Education Level: Primary
  • # of students: 949
  • # of teachers: 46
8
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
 

$629,100$768,900$699,000

PURCHASE PRICE

$2,466$3,014$2,740

RENT

DOWN PAYMENT
FINANCING

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$500k$1.0M$1.5M$2.0M$2.5M

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$500k$1.0M$1.5M$2.0M$2.5M

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,740
EXPENSES Loan Payment -$2,579
Property Tax -$460
Property Insurance -$92
HOA -$83
Property Management Fees -$119
CASH FLOW
-$594

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.

$699,000

PROJECTED PRICE

$2,740

PROJECTED RENT

0.39%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.05%
Appreciation Year (1-5) 9.79%
Maintenance Year (1-5) 8.00%
Vacancy 7.57%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$190,985

INVESTMENT

$190,985

Down Payment
$174,750
Rehab Estimate
$5,750
Closing Costs
$10,485

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,579

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $174,750
Loan Amount $524,250
See What Happens When You Reinvest Cash Flow

1.67

YEARS SAVED

$9,042

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,740

    LIST RENT
  • $0.81

    LIST RENT PER SQFT
  • $2,770

    COMP ESTIMATED VALUE
  • $0.82

    COMP AVG. RENT PER SQFT
Comps Range
$2,545
1$2,5452$2,6003$2,7404$2,7505$2,900
$2,900
RENT COMPS ANALYSIS
  • 3720 Portiani Drive Las Vegas, NV 3
    • 4 beds 4 baths ∙ 3,368 Sqft ∙ Built 2017 4 beds 4 baths ∙ 3,368 Sqft ∙ Built 2017
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,740
    • $0.81
    •  
  • 3242 Rapace Lane Las Vegas, NV 1
    • 5 beds 3 baths ∙ 3,134 Sqft ∙ Built 2004 5 beds 3 baths ∙ 3,134 Sqft ∙ Built 2004
    property image
    LEASED 11/22/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,545
    • $0.81
    •  
  • 11443 Steponia Bay Street Las Vegas, NV 2
    • 5 beds 3 baths ∙ 3,133 Sqft ∙ Built 2005 5 beds 3 baths ∙ 3,133 Sqft ∙ Built 2005
    property image
    LEASED 07/05/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,600
    • $0.83
    •  
  • 12730 Coastline Shadow Las Vegas, NV 4
    • 5 beds 4 baths ∙ 3,433 Sqft ∙ Built 2018 5 beds 4 baths ∙ 3,433 Sqft ∙ Built 2018
    property image
    LEASED 04/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,750
    • $0.80
    •  
  • 3697 Regatta Landing Drive Las Vegas, NV 5
    • 4 beds 4 baths ∙ 3,420 Sqft ∙ Built 2019 4 beds 4 baths ∙ 3,420 Sqft ∙ Built 2019
    property image
    LEASED 11/02/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,900
    • $0.85
    •  
PROPERTY LISTING DETAILS
Karissa M Putvin
1.702.371.8568
Elite Realty
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2224229
Last Updated: 08/22/2020
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