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3933 Meridian Point Court Las Vegas, NV 89147

4 Beds 3 Baths 3,283 sqft Built 1999

$650,000

List Price

$2,990

$2.7K - $3.2K

Rent Est.

PROPERTY INFO

FACTS
  • Built In 1999
  • Price/Sqft : $197.99
  • 10 Days on Market
  • MLS # : 2242185
  • Updated Date : 10/31/2020 at 05:53
CONSTRUCTION
  • Beds : 4
  • Floor Size : 3,283 sqft
  • Baths : 3 full
Listing Agent

Realty Executives Of Snv

Listing Agent's Description

Absolutely stunning 4 bedroom 4bath and 3 car garge Home in the prestigious guard gated Foothills community . All Bedrooms have adjacent baths. Dramatic stunning entry, vaulted ceilings with elevated formal dining room. Kitchen with Butlers pantry, granite counters, Downstairs den adjacent to 3/4 bath can be converted to a fifth bedroom. Pool& Spa is solar heated ,covered patio with build in BBQ ,beautiful cabana and much more a must see ... Wow 1 Bedroom 1 Bath casita/in-Law suite in backyard.

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
Keith And Karen Hayes Elementary School Primary Regular 804 40 9
Victoria Fertitta Middle School Middle Regular 1,472 60 NA
Spring Valley High School High Regular 1,925 79 4

Keith And Karen Hayes Elementary School

  • Education Level: Primary
  • # of students: 804
  • # of teachers: 40
9
GreatSchools Rating

Victoria Fertitta Middle School

  • Education Level: Middle
  • # of students: 1,472
  • # of teachers: 60
NA
GreatSchools Rating

Spring Valley High School

  • Education Level: High
  • # of students: 1,925
  • # of teachers: 79
4
GreatSchools Rating
 

$585,000$715,000$650,000

PURCHASE PRICE

$2,691$3,289$2,990

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,990
EXPENSES Loan Payment -$2,398
Property Tax -$409
Property Insurance -$91
HOA -$215
Property Management Fees -$119
CASH FLOW
-$242

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.

$650,000

PROJECTED PRICE

$2,990

PROJECTED RENT

0.46%

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-$5.0k$0.0$5.0k$10k$15k$20k$25k

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$178,000

INVESTMENT

$178,000

Down Payment
$162,500
Rehab Estimate
$5,750
Closing Costs
$9,750

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,398

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $162,500
Loan Amount $487,500
See What Happens When You Reinvest Cash Flow

3.67

YEARS SAVED

$26,515

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,990

    LIST RENT
  • $0.91

    LIST RENT PER SQFT
  • $2,979

    COMP ESTIMATED VALUE
  • $0.91

    COMP AVG. RENT PER SQFT
Comps Range
$2,450
1$2,4502$2,7003$2,9904$3,0005$3,500
$3,500
RENT COMPS ANALYSIS
  • 3933 Meridian Point Court Las Vegas, NV 3
    • 4 beds 3 baths ∙ 3,283 Sqft ∙ Built 1999 4 beds 3 baths ∙ 3,283 Sqft ∙ Built 1999
    • Rent
    • Rent Per SQFT
    •  
    • $2,990
    • $0.91
    •  
  • 9573 Borgata Bay Boulevard Las Vegas, NV 1
    • 4 beds 3 baths ∙ 3,116 Sqft ∙ Built 1997 4 beds 3 baths ∙ 3,116 Sqft ∙ Built 1997
    LEASED 08/26/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,450
    • $0.79
    •  
  • 9625 Irvine Bay Court Las Vegas, NV 2
    • 3 beds 3 baths ∙ 2,973 Sqft ∙ Built 2000 3 beds 3 baths ∙ 2,973 Sqft ∙ Built 2000
    LEASED 10/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,700
    • $0.91
    •  
  • 3779 Robert Randolf Way Las Vegas, NV 4
    • 3 beds 4 baths ∙ 3,168 Sqft ∙ Built 1999 3 beds 4 baths ∙ 3,168 Sqft ∙ Built 1999
    LEASED 03/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,000
    • $0.95
    •  
  • 9685 Phoenician Avenue Las Vegas, NV 5
    • 4 beds 5 baths ∙ 3,575 Sqft ∙ Built 2000 4 beds 5 baths ∙ 3,575 Sqft ∙ Built 2000
    LEASED 08/30/19
    • Rent
    • Rent Per SQFT
    •  
    • $3,500
    • $0.98
    •  
PROPERTY LISTING DETAILS
Hilit Weiss
1.702.403.7220
Realty Executives Of Snv
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2242185
Last Updated: 10/31/2020
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