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3869 Spruceview Court Las Vegas, NV 89147

3 Beds 2 Baths 1,132 sqft Built 1996

INVESTimate

$239,995

List Price

$1,140

$1,026 - $1,254

Rent Est.

$263,779  ( +9.91%)   1 YR EST. FORECAST

PROPERTY INFO

August 19, 2020 RECENTLY ADDED
FACTS
  • Built In 1996
  • Price/Sqft : $212.01
  • 8 Days on Market
  • MLS # : 2223222
  • Updated Date : 08/19/2020 at 17:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,132 sqft
  • Baths : 2 full
Listing Agent

Black & Cherry Real Estate

Listing Agent's Description

3 beds, 2 full baths, 2 car garage, single story gem, gated community, vaulted ceilings, fireplace, spacious floor plan, tile/laminate floors, master bedroom w/ back yard access, master bathroom w/ dual sinks, shower/tub combo, generous sized bedrooms, plenty of closet space, washer/dryer included, private back yard, desert landscaping for easy maintenance, schools, shopping, dining & entertainment nearby.

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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)

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
Pat A. Diskin Elementary School Primary Regular 686 34 6
Lawrence Junior High School Middle Regular 1,421 61 NA
Spring Valley High School High Regular 1,925 79 4

Pat A. Diskin Elementary School

  • Education Level: Primary
  • # of students: 686
  • # of teachers: 34
6
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
 

$215,996$263,995$239,995

PURCHASE PRICE

$1,026$1,254$1,140

RENT

DOWN PAYMENT
FINANCING

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$100k$200k$300k$400k$500k$600k$700k$800k$900k

PROJECTED ANNUAL CASH FLOW

11530-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k$700k$800k

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,140
EXPENSES Loan Payment -$885
Property Tax -$151
Property Insurance -$49
HOA -$26
Property Management Fees -$119
CASH FLOW
-$90

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.

$239,995

PROJECTED PRICE

$1,140

PROJECTED RENT

0.48%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.96%
Appreciation Year (1-5) 9.91%
Maintenance Year (1-5) 8.00%
Vacancy 7.63%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$69,349

INVESTMENT

$69,349

Down Payment
$59,999
Rehab Estimate
$5,750
Closing Costs
$3,600

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$885

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $59,999
Loan Amount $179,996
See What Happens When You Reinvest Cash Flow

4.17

YEARS SAVED

$10,870

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,140

    LIST RENT
  • $1.01

    LIST RENT PER SQFT
  • $1,177

    COMP ESTIMATED VALUE
  • $1.04

    COMP AVG. RENT PER SQFT
Comps Range
$1,140
1$1,1402$1,2503$1,2504$1,3505$1,375
$1,375
RENT COMPS ANALYSIS
  • 3869 Spruceview Court Las Vegas, NV 1
    • 3 beds 2 baths ∙ 1,132 Sqft ∙ Built 1996 3 beds 2 baths ∙ 1,132 Sqft ∙ Built 1996
    • Rent
    • Rent Per SQFT
    •  
    • $1,140
    • $1.01
    •  
  • 7245 Great Oak Avenue #0 Las Vegas, NV 2
    • 3 beds 1 baths ∙ 1,202 Sqft ∙ Built 1979 3 beds 1 baths ∙ 1,202 Sqft ∙ Built 1979
    LEASED 08/31/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,250
    • $1.04
    •  
  • 3949 Arrowood Drive Las Vegas, NV 3
    • 3 beds 1 baths ∙ 1,202 Sqft ∙ Built 1979 3 beds 1 baths ∙ 1,202 Sqft ∙ Built 1979
    LEASED 02/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,250
    • $1.04
    •  
  • 4002 Foxgrove Drive #0 Las Vegas, NV 4
    • 3 beds 2 baths ∙ 1,311 Sqft ∙ Built 1979 3 beds 2 baths ∙ 1,311 Sqft ∙ Built 1979
    LEASED 03/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,350
    • $1.03
    •  
  • 7906 Laurena Avenue Las Vegas, NV 5
    • 3 beds 3 baths ∙ 1,311 Sqft ∙ Built 1996 3 beds 3 baths ∙ 1,311 Sqft ∙ Built 1996
    LEASED 09/11/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,375
    • $1.05
    •  
PROPERTY LISTING DETAILS
Eloff E Perez
1.702.795.4663
Black & Cherry Real Estate
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2223222
Last Updated: 08/19/2020
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