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3821 Rio Blanco Place Las Vegas, NV 89121

3 Beds 3 Baths 1,878 sqft Built 1973

INVESTimate

$310,000

List Price

$1,380

$1,242 - $1,518

Rent Est.

$339,047  ( +9.37%)   1 YR EST. FORECAST

PROPERTY INFO

August 22, 2020 RECENTLY ADDED
FACTS
  • Built In 1973
  • Price/Sqft : $165.07
  • 5 Days on Market
  • MLS # : 2223603
  • Updated Date : 08/22/2020 at 11:30
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,878 sqft
  • Baths : 2 full , 1 half
Listing Agent

All Vegas Valley Realty

Listing Agent's Description

ADORABLE 3 BEDROOM 2 FULL & 1/2 BATH HOME ON CUL-DE-SAC*BEAUTIFUL MATURE LANDSCAPING*LARGE BACKYARD WITH TREES*NEW A/C*NEW WATER HEATER*DUAL PANE WINDOWS*WOOD BURNING FIREPLACE*SEPARATE DINING ROOM*LARGE LIVING ROOM & LARGE FAMILY ROOM*ALL BEDROOMS UPSTAIRS WITH NEW CARPET*SEPARATE LAUNDRY ROOM DOWNSTAIRS*NO HOA*AMAZING LOCATION NEAR SCHOOLS*

SEE MORE

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: Paradise

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280kPrice in $112k296k

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

Neighborhood: Paradise

NeighborhoodNIR Market*CityMarket2010Year20002019 Q211001150120012501300135014001450150015501600Rent in $10761606

* 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
George E. Harris Elementary School Primary Regular 700 38 3
C W Woodbury Middle School Middle Regular 902 39 NA
Chaparral High School High Regular 2,270 87 3

George E. Harris Elementary School

  • Education Level: Primary
  • # of students: 700
  • # of teachers: 38
3
GreatSchools Rating

C W Woodbury Middle School

  • Education Level: Middle
  • # of students: 902
  • # of teachers: 39
NA
GreatSchools Rating

Chaparral High School

  • Education Level: High
  • # of students: 2,270
  • # of teachers: 87
3
GreatSchools Rating
 

$279,000$341,000$310,000

PURCHASE PRICE

$1,242$1,518$1,380

RENT

DOWN PAYMENT
FINANCING

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

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

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

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,380
EXPENSES Loan Payment -$1,144
Property Tax -$118
Property Insurance -$64
Property Management Fees -$119
CASH FLOW
-$64

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.

$310,000

PROJECTED PRICE

$1,380

PROJECTED RENT

0.45%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.96%
Appreciation Year (1-5) 9.37%
Maintenance Year (1-5) 8.00%
Vacancy 7.63%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$87,900

INVESTMENT

$87,900

Down Payment
$77,500
Rehab Estimate
$5,750
Closing Costs
$4,650

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,144

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $77,500
Loan Amount $232,500
See What Happens When You Reinvest Cash Flow

5.25

YEARS SAVED

$19,486

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,380

    LIST RENT
  • $0.73

    LIST RENT PER SQFT
  • $1,432

    COMP ESTIMATED VALUE
  • $0.76

    COMP AVG. RENT PER SQFT
Comps Range
$1,300
1$1,3002$1,3803$1,3804$1,4505$1,450
$1,450
RENT COMPS ANALYSIS
  • 3821 Rio Blanco Place Las Vegas, NV 3
    • 3 beds 3 baths ∙ 1,878 Sqft ∙ Built 1973 3 beds 3 baths ∙ 1,878 Sqft ∙ Built 1973
    • Rent
    • Rent Per SQFT
    •  
    • $1,380
    • $0.73
    •  
  • 3886 Cherokee Las Vegas, NV 1
    • 3 beds 2 baths ∙ 1,776 Sqft ∙ Built 1974 3 beds 2 baths ∙ 1,776 Sqft ∙ Built 1974
    LEASED 05/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,300
    • $0.73
    •  
  • 4032 Avonwood Las Vegas, NV 2
    • 3 beds 1 baths ∙ 1,712 Sqft ∙ Built 1973 3 beds 1 baths ∙ 1,712 Sqft ∙ Built 1973
    LEASED 06/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,380
    • $0.81
    •  
  • 3584 Freedom Las Vegas, NV 4
    • 3 beds 2 baths ∙ 2,025 Sqft ∙ Built 1972 3 beds 2 baths ∙ 2,025 Sqft ∙ Built 1972
    LEASED 05/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $0.72
    •  
  • 3941 Shadow Wood Las Vegas, NV 5
    • 4 beds 2 baths ∙ 1,840 Sqft ∙ Built 1973 4 beds 2 baths ∙ 1,840 Sqft ∙ Built 1973
    LEASED 05/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $0.79
    •  
PROPERTY LISTING DETAILS
Julie A Thompson
1.702.277.8870
All Vegas Valley Realty
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2223603
Last Updated: 08/22/2020
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