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3758 Majestic Drive Las Vegas, NV 89147

3 Beds 1 Baths 1,280 sqft Built 1979

$275,000

List Price

$1,250

$1.1K - $1.4K

Rent Est.

PROPERTY INFO

November 06, 2020 RECENTLY ADDED
FACTS
  • Built In 1979
  • Price/Sqft : $214.84
  • 5 Days on Market
  • MLS # : 2243925
  • Updated Date : 11/05/2020 at 15:33
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,280 sqft
  • Baths : 1 full
Listing Agent

Coldwell Banker Premier

Listing Agent's Description

Charming Spring Valley Single Story! NO HOA! No n'bors behind you! Gated RV/Boat Parking, plenty of space for parking, extra wide paved driveway to side RV gate, storage shed, spacious backyard with pool size lot and HUGE covered patio, Spacious eat-in kitchen with exterior door to side patio, Large family room with cozy fireplace, no carpet, all tile floors, full guest bath with new fixtures, Spacious master with attached 3/4 bath. HURRY won't last long at this price!

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MARKET HIGHLIGHTS

  • 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)
  • 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)

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
Pat A. Diskin Elementary School Primary Regular 686 34 6
Lawrence Junior High School Middle Regular 1,421 61 NA
Spring Valley High School High Regular 1,925 79 4

Pat A. Diskin Elementary School

  • Education Level: Primary
  • # of students: 686
  • # 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
 

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

PURCHASE PRICE

$1,125$1,375$1,250

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,250
EXPENSES Loan Payment -$1,015
Property Tax -$121
Property Insurance -$52
Property Management Fees -$119
CASH FLOW
-$57

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

$1,250

PROJECTED RENT

0.45%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.96%
Appreciation Year (1-5) 9.9%
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

PROJECTED ANNUAL CASH FLOW

11530-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

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 50% 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

5.25

YEARS SAVED

$17,261

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,250

    LIST RENT
  • $0.98

    LIST RENT PER SQFT
  • $1,357

    COMP ESTIMATED VALUE
  • $1.06

    COMP AVG. RENT PER SQFT
Comps Range
$1,250
1$1,2502$1,3503$1,3954$1,4005$1,500
$1,500
RENT COMPS ANALYSIS
  • 3758 Majestic Drive Las Vegas, NV 1
    • 3 beds 1 baths ∙ 1,280 Sqft ∙ Built 1979 3 beds 1 baths ∙ 1,280 Sqft ∙ Built 1979
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,250
    • $0.98
    •  
  • 4002 Foxgrove Drive #0 Las Vegas, NV 2
    • 3 beds 2 baths ∙ 1,311 Sqft ∙ Built 1979 3 beds 2 baths ∙ 1,311 Sqft ∙ Built 1979
    property image
    LEASED 03/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,350
    • $1.03
    •  
  • 4366 Sandcastle Drive Las Vegas, NV 3
    • 3 beds 1 baths ∙ 1,300 Sqft ∙ Built 1985 3 beds 1 baths ∙ 1,300 Sqft ∙ Built 1985
    property image
    LEASED 10/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,395
    • $1.07
    •  
  • 6960 Paddington Las Vegas, NV 4
    • 3 beds 1 baths ∙ 1,280 Sqft ∙ Built 1978 3 beds 1 baths ∙ 1,280 Sqft ∙ Built 1978
    property image
    LEASED 06/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,400
    • $1.09
    •  
  • 6834 Grandola Drive Las Vegas, NV 5
    • 3 beds 2 baths ∙ 1,434 Sqft ∙ Built 1976 3 beds 2 baths ∙ 1,434 Sqft ∙ Built 1976
    property image
    LEASED 03/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $1.05
    •  
PROPERTY LISTING DETAILS
Nichole Lavigne
1.702.544.4022
Coldwell Banker Premier
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2243925
Last Updated: 11/05/2020
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