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3938 Kristina Lynn Avenue North Las Vegas, NV 89081

3 Beds 2 Baths 1,765 sqft Built 2006

$300,000

List Price

$1,320

$1.2K - $1.5K

Rent Est.

PROPERTY INFO

December 05, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2006
  • Price/Sqft : $169.97
  • 2 Days on Market
  • MLS # : 2253531
  • Updated Date : 12/05/2020 at 12:30
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,765 sqft
  • Baths : 2 full
Listing Agent

Las Vegas Realty Group

Listing Agent's Description

Single story living and a 3 car garage! WOW!! This home features an open living space with a Gas Fireplace, Dining area with a slider to the backyard and a large Granite island with a Stainless steel sink and dishwasher. Primary bedroom features lots of light, large bathroom with a separate tub, shower and toilet room as well as a large counter with two sinks. Primary closet is located inside ensuite for your convenience. Two additional bedrooms have new neutral carpeting and an additional full bathroom closeby. Laundry room features it's very own sink. The home has recently had a new water heater and air conditioner installed! Very low maintenance landscaping in both front and back yard.

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: Tropical Walnut

NeighborhoodNIR Market*CityMarket2010Year20002019100k150k200k250k300k350k400kPrice in $84k419k

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

Neighborhood: Tropical Walnut

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2100011001200130014001500160017001800Rent in $9651851

* 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
D.l. Dusty Dickens Elementary School Primary Regular 753 43 6
Carroll M Johnston Middle School Middle Regular 1,365 58 NA
Legacy High School High Regular 2,819 119 3

D.l. Dusty Dickens Elementary School

  • Education Level: Primary
  • # of students: 753
  • # of teachers: 43
6
GreatSchools Rating

Carroll M Johnston Middle School

  • Education Level: Middle
  • # of students: 1,365
  • # of teachers: 58
NA
GreatSchools Rating

Legacy High School

  • Education Level: High
  • # of students: 2,819
  • # of teachers: 119
3
GreatSchools Rating
 

$270,000$330,000$300,000

PURCHASE PRICE

$1,188$1,452$1,320

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,320
EXPENSES Loan Payment -$1,107
Property Tax -$247
Property Insurance -$61
Property Management Fees -$119
CASH FLOW
-$214

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.

$300,000

PROJECTED PRICE

$1,320

PROJECTED RENT

0.44%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.75%
Appreciation Year (1-5) 8.4%
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-$6.0k-$4.0k-$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$200k$400k$600k$800k$1.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$85,250

INVESTMENT

$85,250

Down Payment
$75,000
Rehab Estimate
$5,750
Closing Costs
$4,500

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,107

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $75,000
Loan Amount $225,000
See What Happens When You Reinvest Cash Flow

2.25

YEARS SAVED

$4,991

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,320

    LIST RENT
  • $0.75

    LIST RENT PER SQFT
  • $1,346

    COMP ESTIMATED VALUE
  • $0.76

    COMP AVG. RENT PER SQFT
Comps Range
$1,320
1$1,3202$1,4003$1,4004$1,4355$1,495
$1,495
RENT COMPS ANALYSIS
  • 3938 Kristina Lynn Avenue North Las Vegas, NV 1
    • 3 beds 2 baths ∙ 1,765 Sqft ∙ Built 2006 3 beds 2 baths ∙ 1,765 Sqft ∙ Built 2006
    • Rent
    • Rent Per SQFT
    •  
    • $1,320
    • $0.75
    •  
  • 3942 Gaster Avenue North Las Vegas, NV 2
    • 3 beds 2 baths ∙ 1,765 Sqft ∙ Built 2006 3 beds 2 baths ∙ 1,765 Sqft ∙ Built 2006
    LEASED 02/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,400
    • $0.79
    •  
  • 3821 Carisbrook North Las Vegas, NV 3
    • 4 beds 3 baths ∙ 1,908 Sqft ∙ Built 2005 4 beds 3 baths ∙ 1,908 Sqft ∙ Built 2005
    LEASED 04/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,400
    • $0.73
    •  
  • 3733 Gallowtree Avenue North Las Vegas, NV 4
    • 3 beds 3 baths ∙ 1,920 Sqft ∙ Built 2004 3 beds 3 baths ∙ 1,920 Sqft ∙ Built 2004
    LEASED 11/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,435
    • $0.75
    •  
  • 3725 Stowe Creek Avenue North Las Vegas, NV 5
    • 4 beds 3 baths ∙ 1,920 Sqft ∙ Built 2004 4 beds 3 baths ∙ 1,920 Sqft ∙ Built 2004
    LEASED 08/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,495
    • $0.78
    •  
PROPERTY LISTING DETAILS
La Fonda Nunez
1.702.302.2004
Las Vegas Realty Group
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2253531
Last Updated: 12/05/2020
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