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3914 Royal Viking Way Las Vegas, NV 89121

3 Beds 4 Baths 3,373 sqft Built 1993

INVESTimate

$598,888

List Price

$2,140

$1,926 - $2,354

Rent Est.

$655,004  ( +9.37%)   1 YR EST. FORECAST

PROPERTY INFO

August 25, 2020 RECENTLY ADDED
FACTS
  • Built In 1993
  • Price/Sqft : $177.55
  • 2 Days on Market
  • MLS # : 2224790
  • Updated Date : 08/25/2020 at 15:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 3,373 sqft
  • Baths : 3 full , 1 half
Listing Agent

Simply Vegas

Listing Agent's Description

THIS IS YOUR OPPORTUNITY TO OWN THIS SUPERB SINGLE STORY CUSTOM HOME IN THIS PRESTIGIOUS GATED COMMUNITY . ENTER THIS HOME THROUGH ITS AMAZING ENTRANCE FOYER THAT SPILLS OUT INTO THE HUGE GREAT ROOM WITH VAULTED CEILINGS . THIS HOME OFFERS EXCELLENT SEPARATE LIVING AREAS, INCLUDING FORMAL LIVING, GREAT ROOM AND FAMILY ROOMS. THE 3 BEDROOMS ARE ALL OVER SIZED AND OFFER EXCELLENT SLEEPING ACCOMMODATION .THE FAMILY ROOM IS SITUATED CONVENIENTLY NEXT TO THE OPEN KITCHEN AND FLOWS PERFECTLY TO THE TROPICAL PRIVATE BACK YARD . THE BACK YARD IS AN OASIS OF MATURE DATE PALMS PROVIDED SHADE AROUND A TRANQUIL BEACH ENTRY POOL AND WATER FALL. YOU CAN FEEL SECURE BEHIND THE GATES OF THIS COMMUNITY AND ALSO THIS HOME OFFERS ADDED SECURITY OF FULLY AUTOMATED ROLLADEN SHUTTERS AT ALL WINDOWS AND DOORS .GARAGE IS OVER SIZED FOR 3 CARS . BUYER AND BUYERS AGENT TO CHECK ALL INFO MEASURMENTS , HOA FEES , SCHOOLS ZONES ETC

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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
William E. Orr Middle School Middle Regular 933 36 NA
Valley High School High Magnet 2,826 123 2

George E. Harris Elementary School

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

William E. Orr Middle School

  • Education Level: Middle
  • # of students: 933
  • # of teachers: 36
NA
GreatSchools Rating

Valley High School

  • Education Level: High
  • # of students: 2,826
  • # of teachers: 123
2
GreatSchools Rating
 

$538,999$658,777$598,888

PURCHASE PRICE

$1,926$2,354$2,140

RENT

DOWN PAYMENT
FINANCING

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,140
EXPENSES Loan Payment -$2,210
Property Tax -$404
Property Insurance -$92
HOA -$110
Property Management Fees -$119
CASH FLOW
-$795

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.

$598,888

PROJECTED PRICE

$2,140

PROJECTED RENT

0.36%

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$164,455

INVESTMENT

$164,455

Down Payment
$149,722
Rehab Estimate
$5,750
Closing Costs
$8,983

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 70% down payment or higher enables the proceeds from the asset to cover all costs.

$2,210

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $149,722
Loan Amount $449,166
See What Happens When You Reinvest Cash Flow

0.33

YEARS SAVED

$460

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $0

    LIST RENT
  • $0

    LIST RENT PER SQFT
  • $2,420

    COMP ESTIMATED VALUE
  • $0.72

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$1,9953$2,0504$2,4505$2,500
$2,500
RENT COMPS ANALYSIS
  • 3914 Royal Viking Way Las Vegas, NV 1
    • 3 beds 4 baths ∙ 3,373 Sqft ∙ Built 1993 3 beds 4 baths ∙ 3,373 Sqft ∙ Built 1993
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 3931 Kamden Way Las Vegas, NV 2
    • 4 beds 3 baths ∙ 3,071 Sqft ∙ Built 1978 4 beds 3 baths ∙ 3,071 Sqft ∙ Built 1978
    LEASED 03/04/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,995
    • $0.65
    •  
  • 4426 Zev Court #- Las Vegas, NV 3
    • 4 beds 5 baths ∙ 3,266 Sqft ∙ Built 1996 4 beds 5 baths ∙ 3,266 Sqft ∙ Built 1996
    LEASED 08/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,050
    • $0.63
    •  
  • 3160 East Viking Road Las Vegas, NV 4
    • 4 beds 3 baths ∙ 3,236 Sqft ∙ Built 1989 4 beds 3 baths ∙ 3,236 Sqft ∙ Built 1989
    LEASED 08/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,450
    • $0.76
    •  
  • 3840 Mcleod Drive Las Vegas, NV 5
    • 4 beds 3 baths ∙ 3,026 Sqft ∙ Built 1997 4 beds 3 baths ∙ 3,026 Sqft ∙ Built 1997
    LEASED 09/07/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $0.83
    •  
PROPERTY LISTING DETAILS
Paul M Bowler
1.702.845.3403
Simply Vegas
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2224790
Last Updated: 08/25/2020
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