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3802 Discovery Creek Ave Avenue North Las Vegas, NV 89031

3 Beds 3 Baths 1,887 sqft Built 2003

$355,000

List Price

$1,520

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

December 12, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2003
  • Price/Sqft : $188.13
  • 3 Days on Market
  • MLS # : 2255156
  • Updated Date : 12/12/2020 at 12:30
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,887 sqft
  • Baths : 2 full , 1 half
Listing Agent

Realty One Group, Inc

Listing Agent's Description

Come see this beautiful two story in a quiet neighborhood. Walk into a beautiful Great Room that combines space and elegance with island kitchen dining area combination. Top the stairs to see a spacious loft area. Three well spaced bedrooms upstairs. Did I mention the Primary Bedroom has separate shower and tub and huge walk-in closet. This home has Tile and Laminate throughout. Spacious backyard and did I mention RV parking! Come see this home today!

SEE MORE

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: Creekside

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300kPrice in $110k302k

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

Neighborhood: Creekside

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21000105011001150120012501300135014001450150015501600Rent in $9671606

* 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
Eva G. Simmons Elementary School Primary Regular 742 37 6
Brian And Teri Cram Middle School Middle Regular 1,568 65 NA
Shadow Ridge High School High Regular 2,697 105 6

Eva G. Simmons Elementary School

  • Education Level: Primary
  • # of students: 742
  • # of teachers: 37
6
GreatSchools Rating

Brian And Teri Cram Middle School

  • Education Level: Middle
  • # of students: 1,568
  • # of teachers: 65
NA
GreatSchools Rating

Shadow Ridge High School

  • Education Level: High
  • # of students: 2,697
  • # of teachers: 105
6
GreatSchools Rating
 

$319,500$390,500$355,000

PURCHASE PRICE

$1,368$1,672$1,520

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,520
EXPENSES Loan Payment -$1,310
Property Tax -$245
Property Insurance -$64
Property Management Fees -$119
CASH FLOW
-$217

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.

$355,000

PROJECTED PRICE

$1,520

PROJECTED RENT

0.43%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.96%
Appreciation Year (1-5) 13.4%
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$1.2M$1.4M

PROJECTED ANNUAL CASH FLOW

11530-$5.0k$0.0$5.0k$10k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$99,825

INVESTMENT

$99,825

Down Payment
$88,750
Rehab Estimate
$5,750
Closing Costs
$5,325

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,310

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $88,750
Loan Amount $266,250
See What Happens When You Reinvest Cash Flow

3

YEARS SAVED

$9,622

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,520

    LIST RENT
  • $0.81

    LIST RENT PER SQFT
  • $1,557

    COMP ESTIMATED VALUE
  • $0.83

    COMP AVG. RENT PER SQFT
Comps Range
$1,520
1$1,5202$1,5753$1,6004$1,6505$1,650
$1,650
RENT COMPS ANALYSIS
  • 3802 Discovery Creek Ave Avenue North Las Vegas, NV 1
    • 3 beds 3 baths ∙ 1,887 Sqft ∙ Built 2003 3 beds 3 baths ∙ 1,887 Sqft ∙ Built 2003
    • Rent
    • Rent Per SQFT
    •  
    • $1,520
    • $0.81
    •  
  • 5925 Rolling Creek Street North Las Vegas, NV 2
    • 4 beds 2 baths ∙ 1,814 Sqft ∙ Built 2003 4 beds 2 baths ∙ 1,814 Sqft ∙ Built 2003
    LEASED 11/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,575
    • $0.87
    •  
  • 5924 Aqua Verde Street North Las Vegas, NV 3
    • 3 beds 2 baths ∙ 2,008 Sqft ∙ Built 2004 3 beds 2 baths ∙ 2,008 Sqft ∙ Built 2004
    LEASED 08/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $0.80
    •  
  • 5910 Willis North Las Vegas, NV 4
    • 3 beds 3 baths ∙ 2,031 Sqft ∙ Built 2003 3 beds 3 baths ∙ 2,031 Sqft ∙ Built 2003
    LEASED 05/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.81
    •  
  • 3412 Casa Alto Avenue North Las Vegas, NV 5
    • 3 beds 2 baths ∙ 2,008 Sqft ∙ Built 2005 3 beds 2 baths ∙ 2,008 Sqft ∙ Built 2005
    LEASED 09/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.82
    •  
PROPERTY LISTING DETAILS
Ronald D Jones
1.702.370.8102
Realty One Group, Inc
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2255156
Last Updated: 12/12/2020
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