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3865 Broadmead Street Las Vegas, NV 89147

4 Beds 5 Baths 3,629 sqft Built 1995

$629,900

List Price

$2,350

$2.1K - $2.6K

Rent Est.

PROPERTY INFO

November 12, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1995
  • Price/Sqft : $173.57
  • 5 Days on Market
  • MLS # : 2247548
  • Updated Date : 11/12/2020 at 13:06
CONSTRUCTION
  • Beds : 4
  • Floor Size : 3,629 sqft
  • Baths : 4 full , 1 half
Listing Agent

Wynn Realty Group

Listing Agent's Description

Gorgeous 2 story home in gated Tahoe development at Westmont Estates. The grand entry has double doors & soaring 18'+ ceilings. This home features 4 bedrooms, 3 up & 1 down, all with ensuite bathrooms. Each bathroom features granite countertops & designer plumbing fixtures. The great room includes a gas fireplace, built-in wet bar with granite countertops & wine racks, plus stacked stone accents! Additional space includes enormous glass Sunroom! The Gourmet Kitchen includes custom wood cabinetry, granite countertops, Viking appliances-double oven, separate cooktop, built-in refrigerator & dishwasher! Plenty of storage + walk-in pantry. Enormous primary bedroom includes an attached office/den area. The primary spa bathroom has granite counters, walk-in shower, separate tub, & walk-in closet. The low maintenance backyard is beautiful and spacious! Entertainers delight-gorgeous pebble tech pool and spa with raised stacked stone walls, patio cover, Tiki bar, and flagstone decking surround!

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
Patricia A Bendorf. Elementary School Primary Regular 707 36 9
Lawrence Junior High School Middle Regular 1,421 61 NA
Spring Valley High School High Regular 1,925 79 4

Patricia A Bendorf. Elementary School

  • Education Level: Primary
  • # of students: 707
  • # of teachers: 36
9
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
 

$566,910$692,890$629,900

PURCHASE PRICE

$2,115$2,585$2,350

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,350
EXPENSES Loan Payment -$2,324
Property Tax -$392
Property Insurance -$92
Property Management Fees -$119
CASH FLOW
-$577

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.

$629,900

PROJECTED PRICE

$2,350

PROJECTED RENT

0.37%

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$500k$1.0M$1.5M$2.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$172,674

INVESTMENT

$172,674

Down Payment
$157,475
Rehab Estimate
$5,750
Closing Costs
$9,449

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,324

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $157,475
Loan Amount $472,425
See What Happens When You Reinvest Cash Flow

1.58

YEARS SAVED

$6,678

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,350

    LIST RENT
  • $0.7

    LIST RENT PER SQFT
  • $2,594

    COMP ESTIMATED VALUE
  • $0.77

    COMP AVG. RENT PER SQFT
Comps Range
$2,250
1$2,2502$2,2953$2,3504$2,3505$3,000
$3,000
RENT COMPS ANALYSIS
  • 3865 Broadmead Street Las Vegas, NV 4
    • 4 beds 4 baths ∙ 3,369 Sqft ∙ Built 1995 4 beds 4 baths ∙ 3,369 Sqft ∙ Built 1995
    • Rent
    • Rent Per SQFT
    •  
    • $2,350
    • $0.70
    •  
  • 8900 Waltzing Waters Court Las Vegas, NV 1
    • 5 beds 4 baths ∙ 3,036 Sqft ∙ Built 2001 5 beds 4 baths ∙ 3,036 Sqft ∙ Built 2001
    LEASED 11/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,250
    • $0.74
    •  
  • 9013 Heavenly Valley Avenue Las Vegas, NV 2
    • 4 beds 4 baths ∙ 3,357 Sqft ∙ Built 1997 4 beds 4 baths ∙ 3,357 Sqft ∙ Built 1997
    LEASED 04/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,295
    • $0.68
    •  
  • 3840 Cape Royal Street Las Vegas, NV 3
    • 5 beds 3 baths ∙ 3,036 Sqft ∙ Built 2002 5 beds 3 baths ∙ 3,036 Sqft ∙ Built 2002
    LEASED 07/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,350
    • $0.77
    •  
  • 3908 Windansea Street Las Vegas, NV 5
    • 4 beds 4 baths ∙ 3,369 Sqft ∙ Built 1995 4 beds 4 baths ∙ 3,369 Sqft ∙ Built 1995
    LEASED 09/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,000
    • $0.89
    •  
PROPERTY LISTING DETAILS
Marc A Capri
1.702.768.9670
Wynn Realty Group
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2247548
Last Updated: 11/12/2020
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