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3831 New Era Court Las Vegas, NV 89103

3 Beds 3 Baths 2,290 sqft Built 2002

$518,000

List Price

$2,180

$2K - $2.4K

Rent Est.

PROPERTY INFO

January 07, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2002
  • Price/Sqft : $226.20
  • 4 Days on Market
  • MLS # : 2259961
  • Updated Date : 01/08/2021 at 11:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,290 sqft
  • Baths : 2 full , 1 half
Listing Agent

Award Realty

Listing Agent's Description

Beautiful custom build one story home in a cul-de-sac! 3 Bedroom with 2 in a half bath, each full bath has a jacuzzi Spacious backyard including a small warehouse. Must see!

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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)

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
C.h. Decker Elementary School Primary Regular 698 36 3
Kenny C. Guinn Middle School Middle Regular 820 40 NA
Durango High School High Regular 2,302 95 5

C.h. Decker Elementary School

  • Education Level: Primary
  • # of students: 698
  • # of teachers: 36
3
GreatSchools Rating

Kenny C. Guinn Middle School

  • Education Level: Middle
  • # of students: 820
  • # of teachers: 40
NA
GreatSchools Rating

Durango High School

  • Education Level: High
  • # of students: 2,302
  • # of teachers: 95
5
GreatSchools Rating
 

$466,200$569,800$518,000

PURCHASE PRICE

$1,962$2,398$2,180

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,180
EXPENSES Loan Payment -$1,799
Property Tax -$282
Property Insurance -$72
Property Management Fees -$119
CASH FLOW
-$92

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.

$518,000

PROJECTED PRICE

$2,180

PROJECTED RENT

0.42%

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$500k$1.0M$1.5M$2.0M

PROJECTED ANNUAL CASH FLOW

11530-$5.0k$0.0$5.0k$10k$15k$20k$25k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M$1.6M$1.8M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$143,020

INVESTMENT

$143,020

Down Payment
$129,500
Rehab Estimate
$5,750
Closing Costs
$7,770

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,799

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $129,500
Loan Amount $388,500
See What Happens When You Reinvest Cash Flow

5

YEARS SAVED

$26,255

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,180

    LIST RENT
  • $0.95

    LIST RENT PER SQFT
  • $2,181

    COMP ESTIMATED VALUE
  • $0.95

    COMP AVG. RENT PER SQFT
Comps Range
$1,675
1$1,6752$2,1003$2,1804$2,2505$2,350
$2,350
RENT COMPS ANALYSIS
  • 3831 New Era Court Las Vegas, NV 3
    • 3 beds 3 baths ∙ 2,290 Sqft ∙ Built 2002 3 beds 3 baths ∙ 2,290 Sqft ∙ Built 2002
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,180
    • $0.95
    •  
  • 3935 Tirana Way Las Vegas, NV 1
    • 3 beds 3 baths ∙ 1,964 Sqft ∙ Built 1988 3 beds 3 baths ∙ 1,964 Sqft ∙ Built 1988
    property image
    LEASED 01/01/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,675
    • $0.85
    •  
  • 3831 New Era Las Vegas, NV 2
    • 3 beds 3 baths ∙ 2,290 Sqft ∙ Built 2002 3 beds 3 baths ∙ 2,290 Sqft ∙ Built 2002
    property image
    LEASED 06/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $0.92
    •  
  • 6240 Pride Lane Las Vegas, NV 4
    • 4 beds 3 baths ∙ 2,336 Sqft ∙ Built 1990 4 beds 3 baths ∙ 2,336 Sqft ∙ Built 1990
    property image
    LEASED 10/01/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,250
    • $0.96
    •  
  • 3830 Leisure Lane Las Vegas, NV 5
    • 4 beds 2 baths ∙ 2,186 Sqft ∙ Built 1984 4 beds 2 baths ∙ 2,186 Sqft ∙ Built 1984
    property image
    LEASED 12/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,350
    • $1.08
    •  
PROPERTY LISTING DETAILS
Erica Yip
1.702.505.7569
Award Realty
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2259961
Last Updated: 01/08/2021
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