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3923 Via Lucia Drive Las Vegas, NV 89115

3 Beds 3 Baths 1,972 sqft Built 1998

$258,000

List Price

$1,290

$1.2K - $1.4K

Rent Est.

PROPERTY INFO

November 07, 2020 RECENTLY ADDED
FACTS
  • Built In 1998
  • Price/Sqft : $130.83
  • 3 Days on Market
  • MLS # : 2244784
  • Updated Date : 11/06/2020 at 19:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,972 sqft
  • Baths : 2 full , 1 half
Listing Agent

Jason's Realty

Listing Agent's Description

Nice Two Story House at Very Convenience Location. New Paint Throughout the Whole House. Brand New Kitchen Cabinet. New Granite Countertops with Under Mount Sink. New Stainless Refrigerator, Gas Stove, Microwave and Dishwasher. New Hardwood Flooring for Stairs and Upstairs. Must See!

SEE MORE

MARKET HIGHLIGHTS

  • 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: Sunrise Manor

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260k280kPrice in $83k296k

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

Neighborhood: Sunrise Manor

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21000105011001150120012501300135014001450150015501600Rent in $9591603

* 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
 

$232,200$283,800$258,000

PURCHASE PRICE

$1,161$1,419$1,290

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,290
EXPENSES Loan Payment -$952
Property Tax -$162
Property Insurance -$65
Property Management Fees -$119
CASH FLOW
-$8

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.

$258,000

PROJECTED PRICE

$1,290

PROJECTED RENT

0.50%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.75%
Appreciation Year (1-5) 12.8%
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

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$74,120

INVESTMENT

$74,120

Down Payment
$64,500
Rehab Estimate
$5,750
Closing Costs
$3,870

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$952

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $64,500
Loan Amount $193,500
See What Happens When You Reinvest Cash Flow

5.42

YEARS SAVED

$17,342

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,290

    LIST RENT
  • $0.65

    LIST RENT PER SQFT
  • $1,435

    COMP ESTIMATED VALUE
  • $0.73

    COMP AVG. RENT PER SQFT
Comps Range
$1,290
1$1,2902$1,4003$1,4004$1,4505$1,495
$1,495
RENT COMPS ANALYSIS
  • 3923 Via Lucia Drive Las Vegas, NV 1
    • 3 beds 3 baths ∙ 1,972 Sqft ∙ Built 1998 3 beds 3 baths ∙ 1,972 Sqft ∙ Built 1998
    • Rent
    • Rent Per SQFT
    •  
    • $1,290
    • $0.65
    •  
  • 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
    LEASED 02/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,400
    • $0.76
    •  
  • 4203 Pasternak Las Vegas, NV 3
    • 4 beds 3 baths ∙ 2,013 Sqft ∙ Built 1986 4 beds 3 baths ∙ 2,013 Sqft ∙ Built 1986
    LEASED 06/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,400
    • $0.70
    •  
  • 4201 English Walnut Court Las Vegas, NV 4
    • 4 beds 3 baths ∙ 2,039 Sqft ∙ Built 2005 4 beds 3 baths ∙ 2,039 Sqft ∙ Built 2005
    LEASED 10/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $0.71
    •  
  • 3861 Gulliver Street Las Vegas, NV 5
    • 4 beds 3 baths ∙ 2,013 Sqft ∙ Built 1986 4 beds 3 baths ∙ 2,013 Sqft ∙ Built 1986
    LEASED 01/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,495
    • $0.74
    •  
PROPERTY LISTING DETAILS
Jason D Wang
1.702.586.0333
Jason's Realty
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2244784
Last Updated: 11/06/2020
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