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3840 Aspen Springs Avenue Las Vegas, NV 89115

4 Beds 3 Baths 1,770 sqft Built 2001

$278,000

List Price

$1,410

$1.3K - $1.6K

Rent Est.

$79,420

Investment Est.

PROPERTY INFO

December 12, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2001
  • Price/Sqft : $157.06
  • 3 Days on Market
  • MLS # : 2255234
  • Updated Date : 12/12/2020 at 19:19
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,770 sqft
  • Baths : 3 full
Listing Agent

Weichert Realtors-millennium

Listing Agent's Description

This 4 Bedroom W/ 3 Full Bathroom 2 Story Home Is large and accommodating to guests with a bedroom and a full bathroom downstairs! Open floor plan, Covered patio and large backyard is great for entertaining. Hand-made shed is there to stay for your extra storage. Located in the quiet Walnut Grove neighborhood. You are conveniently located to shops, schools, and 15 minutes to the Strip, 10 minutes to Nellis AFB. Wonderful Opportunity!

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MARKET HIGHLIGHTS

Las Vegas Market Report
  • 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: Walnut Grove

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260k280kPrice in $84k296k

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

Neighborhood: Walnut Grove

NeighborhoodNIR Market*CityMarket2010Year20002019 Q29501000105011001150120012501300135014001450150015501600Rent in $9201603

* 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
Gwendolyn Woolley Elementary School Primary Regular 747 41 6
Marvin M Sedway Middle School Middle Regular 1,514 52 NA
Mojave High School High Regular 2,311 103 2

Gwendolyn Woolley Elementary School

  • Education Level: Primary
  • # of students: 747
  • # of teachers: 41
6
GreatSchools Rating

Marvin M Sedway Middle School

  • Education Level: Middle
  • # of students: 1,514
  • # of teachers: 52
NA
GreatSchools Rating

Mojave High School

  • Education Level: High
  • # of students: 2,311
  • # of teachers: 103
2
GreatSchools Rating
 

FINANCIALS

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$250,200$305,800$278,000

PURCHASE PRICE

$1,269$1,551$1,410

RENT

DOWN PAYMENT
FINANCING
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FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,410
EXPENSES Loan Payment -$1,026
Property Tax -$174
Property Insurance -$61
Property Management Fees -$119
CASH FLOW
$30

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 17% of earned rent to cover both maintenance and periods of vacancy.

$278,000

PROJECTED PRICE

$1,410

PROJECTED RENT

0.51%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.75%
Appreciation Year (1-5) 13.8%
Maintenance Year (1-5) 8.00%
Vacancy 8.50%
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

PROJECTED ANNUAL CASH FLOW

11530-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k$16k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation

  • Principal

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$79,420

INVESTMENT

$79,420

Down Payment		 $69,500
Rehab Estimate		 $5,750
Closing Costs		 $4,170

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 45% down payment or higher enables the proceeds from the asset to cover all costs.

$1,026

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $69,500
Loan Amount $208,500
See What Happens When You Reinvest Cash Flow

6.25

YEARS SAVED

$22,369

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,410

    LIST RENT

  • $0.8

    LIST RENT PER SQFT

  • $1,363

    COMP ESTIMATED VALUE

  • $0.77

    COMP AVG. RENT PER SQFT
Comps Range
$1,295
1$1,2952$1,4003$1,4104$1,4955$1,550
$1,550
RENT COMPS ANALYSIS
  • 3840 Aspen Springs Avenue Las Vegas, NV 3
    • 4 beds 3 baths ∙ 1,770 Sqft ∙ Built 2001 4 beds 3 baths ∙ 1,770 Sqft ∙ Built 2001
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,410
    • $0.80
    •  
  • 4537 Hearts Desire Avenue North Las Vegas, NV 1
    • 3 beds 3 baths ∙ 1,835 Sqft ∙ Built 2006 3 beds 3 baths ∙ 1,835 Sqft ∙ Built 2006
    property image
    LEASED 02/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,295
    • $0.71
    •  
  • 4210 Spruce Fern Lane Las Vegas, NV 2
    • 3 beds 2 baths ∙ 1,846 Sqft ∙ Built 2004 3 beds 2 baths ∙ 1,846 Sqft ∙ Built 2004
    property image
    LEASED 02/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,400
    • $0.76
    •  
  • 3958 Blushing Hearts Road Las Vegas, NV 4
    • 4 beds 3 baths ∙ 1,835 Sqft ∙ Built 2006 4 beds 3 baths ∙ 1,835 Sqft ∙ Built 2006
    property image
    LEASED 11/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,495
    • $0.81
    •  
  • 3954 Falling Heart Court Las Vegas, NV 5
    • 3 beds 3 baths ∙ 1,949 Sqft ∙ Built 2006 3 beds 3 baths ∙ 1,949 Sqft ∙ Built 2006
    property image
    LEASED 12/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $0.80
    •  
PROPERTY LISTING DETAILS
LISTING AGENT
Yoko Schlueter
1.808.779.7700
Weichert Realtors-millennium
BUYER AGENT
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
SOURCE
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2255234
Last Updated: 12/12/2020

All returns, cash flow, and appreciation estimates are projections. Please review our Disclaimer for more information.

All values are rounded to the nearest dollar.
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