Work with a dedicated Real Estate Advisor who will take your financial preferences and help you select and acquire properties that fit your criteria. Learn more

3967 Shimmering Plains Street Las Vegas, NV 89129

3 Beds 3 Baths 1,818 sqft Built 2002

INVESTimate

$325,000

List Price

$1,560

$1,404 - $1,716

Rent Est.

$358,508  ( +10.31%)   1 YR EST. FORECAST

PROPERTY INFO

August 22, 2020 RECENTLY ADDED
FACTS
  • Built In 2002
  • Price/Sqft : $178.77
  • 5 Days on Market
  • MLS # : 2224119
  • Updated Date : 08/22/2020 at 19:02
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,818 sqft
  • Baths : 2 full , 1 half
Listing Agent

Realty One Group, Inc

Listing Agent's Description

Prime Location! Close to everything! Wonderful 2 story home. Open floorpan. Big kitchen with plenty of cabinets and counter space. Custom cabinets and tile flooring. Master bedroom and bath downstairs. Huge loft upstairs with 2 large bedrooms with walking closets. Low Maintenance Landscaping in front & backyard with a patio and finished backyard great for entertaining. Attached 2 car garage.

SEE MORE

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: Lone Mountain

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320kPrice in $119k326k

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

Neighborhood: Lone Mountain

NeighborhoodNIR Market*CityMarket2010Year20002019 Q211001150120012501300135014001450150015501600Rent in $10701616

* 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
Dorothy Eisenberg Elementary School Primary Regular 609 33 6
Irwin And Susan Molasky Junior High School Middle Regular 1,131 50 NA
Cimarron Memorial High School High Regular 2,541 102 3

Dorothy Eisenberg Elementary School

  • Education Level: Primary
  • # of students: 609
  • # of teachers: 33
6
GreatSchools Rating

Irwin And Susan Molasky Junior High School

  • Education Level: Middle
  • # of students: 1,131
  • # of teachers: 50
NA
GreatSchools Rating

Cimarron Memorial High School

  • Education Level: High
  • # of students: 2,541
  • # of teachers: 102
3
GreatSchools Rating
 

$292,500$357,500$325,000

PURCHASE PRICE

$1,404$1,716$1,560

RENT

DOWN PAYMENT
FINANCING

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$200k$400k$600k$800k$1.0M$1.2M

PROJECTED ANNUAL CASH FLOW

11530-$4.0k-$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$1.2M

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,560
EXPENSES Loan Payment -$1,199
Property Tax -$217
Property Insurance -$62
HOA -$115
Property Management Fees -$119
CASH FLOW
-$152

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.

$325,000

PROJECTED PRICE

$1,560

PROJECTED RENT

0.48%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.96%
Appreciation Year (1-5) 10.31%
Maintenance Year (1-5) 8.00%
Vacancy 7.63%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$91,875

INVESTMENT

$91,875

Down Payment
$81,250
Rehab Estimate
$5,750
Closing Costs
$4,875

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,199

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $81,250
Loan Amount $243,750
See What Happens When You Reinvest Cash Flow

3.42

YEARS SAVED

$11,154

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,560

    LIST RENT
  • $0.86

    LIST RENT PER SQFT
  • $1,577

    COMP ESTIMATED VALUE
  • $0.87

    COMP AVG. RENT PER SQFT
Comps Range
$1,500
1$1,5002$1,5503$1,5504$1,5605$1,650
$1,650
RENT COMPS ANALYSIS
  • 3967 Shimmering Plains Street Las Vegas, NV 4
    • 3 beds 3 baths ∙ 1,818 Sqft ∙ Built 2002 3 beds 3 baths ∙ 1,818 Sqft ∙ Built 2002
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,560
    • $0.86
    •  
  • 3959 Prairie Gold Las Vegas, NV 1
    • 3 beds 3 baths ∙ 1,674 Sqft ∙ Built 2003 3 beds 3 baths ∙ 1,674 Sqft ∙ Built 2003
    property image
    LEASED 04/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $0.90
    •  
  • 4008 Wake Forest Drive Las Vegas, NV 2
    • 3 beds 2 baths ∙ 1,870 Sqft ∙ Built 1994 3 beds 2 baths ∙ 1,870 Sqft ∙ Built 1994
    property image
    LEASED 08/29/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $0.83
    •  
  • 8200 Gilmore Las Vegas, NV 3
    • 3 beds 3 baths ∙ 1,768 Sqft ∙ Built 1996 3 beds 3 baths ∙ 1,768 Sqft ∙ Built 1996
    property image
    LEASED 06/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $0.88
    •  
  • 8229 Woodland Prairie Avenue Las Vegas, NV 5
    • 4 beds 2 baths ∙ 1,925 Sqft ∙ Built 1997 4 beds 2 baths ∙ 1,925 Sqft ∙ Built 1997
    property image
    LEASED 09/13/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.86
    •  
PROPERTY LISTING DETAILS
Jill Amsel
1.702.683.6563
Realty One Group, Inc
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2224119
Last Updated: 08/22/2020
BESbswy