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5009 Pounding Surf Avenue Las Vegas, NV 89131

3 Beds 2 Baths 1,806 sqft Built 2001

$400,000

List Price

$1,610

$1.4K - $1.8K

Rent Est.

PROPERTY INFO

January 01, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2001
  • Price/Sqft : $221.48
  • 4 Days on Market
  • MLS # : 2258593
  • Updated Date : 01/02/2021 at 19:21
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,806 sqft
  • Baths : 2 full
Listing Agent

Las Vegas Pro Realty

Listing Agent's Description

Stunning single story home Over sized Corner lot, Located within charming Lynbrook community! 1806 Sq Ft 3 Bedroom 2 bath 2 car Lush landscaping! Upgraded tile flooring with mosaic! Chefs dream kitchen with beautiful granite counters! Breakfast bar and nook! Open and spacious living area with fireplace! Grand Primary suite with patio door! Relax out back on the covered patio or in the sparkling blue pool and spa heated with solar panels double gate for side yard access

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: Lynbrook

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320k340kPrice in $119k341k

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

Neighborhood: Lynbrook

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2105011001150120012501300135014001450150015501600Rent in $10441606

* 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
Howard Heckethorn Elementary School Primary Regular 657 35 7
Anthony Saville Middle School Middle Regular 1,494 58 NA
Shadow Ridge High School High Regular 2,697 105 6

Howard Heckethorn Elementary School

  • Education Level: Primary
  • # of students: 657
  • # of teachers: 35
7
GreatSchools Rating

Anthony Saville Middle School

  • Education Level: Middle
  • # of students: 1,494
  • # of teachers: 58
NA
GreatSchools Rating

Shadow Ridge High School

  • Education Level: High
  • # of students: 2,697
  • # of teachers: 105
6
GreatSchools Rating
 

$360,000$440,000$400,000

PURCHASE PRICE

$1,449$1,771$1,610

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,610
EXPENSES Loan Payment -$1,476
Property Tax -$280
Property Insurance -$62
Property Management Fees -$119
CASH FLOW
-$327

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.

$400,000

PROJECTED PRICE

$1,610

PROJECTED RENT

0.40%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.96%
Appreciation Year (1-5) 10.2%
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$200k$400k$600k$800k$1.0M$1.2M$1.4M

PROJECTED ANNUAL CASH FLOW

11530-$5.0k$0.0$5.0k$10k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$111,750

INVESTMENT

$111,750

Down Payment
$100,000
Rehab Estimate
$5,750
Closing Costs
$6,000

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,476

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $100,000
Loan Amount $300,000
See What Happens When You Reinvest Cash Flow

2.08

YEARS SAVED

$6,160

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,610

    LIST RENT
  • $0.89

    LIST RENT PER SQFT
  • $1,612

    COMP ESTIMATED VALUE
  • $0.89

    COMP AVG. RENT PER SQFT
Comps Range
$1,495
1$1,4952$1,5003$1,6004$1,6105$1,650
$1,650
RENT COMPS ANALYSIS
  • 5009 Pounding Surf Avenue Las Vegas, NV 4
    • 3 beds 2 baths ∙ 1,806 Sqft ∙ Built 2001 3 beds 2 baths ∙ 1,806 Sqft ∙ Built 2001
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,610
    • $0.89
    •  
  • 4900 Royal Lake Avenue Las Vegas, NV 1
    • 3 beds 3 baths ∙ 1,684 Sqft ∙ Built 2002 3 beds 3 baths ∙ 1,684 Sqft ∙ Built 2002
    property image
    LEASED 09/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,495
    • $0.89
    •  
  • 7515 Splashing Rock Drive Las Vegas, NV 2
    • 3 beds 2 baths ∙ 1,674 Sqft ∙ Built 2002 3 beds 2 baths ∙ 1,674 Sqft ∙ Built 2002
    property image
    LEASED 12/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $0.90
    •  
  • 7544 Coral River Drive Las Vegas, NV 3
    • 3 beds 2 baths ∙ 1,813 Sqft ∙ Built 2001 3 beds 2 baths ∙ 1,813 Sqft ∙ Built 2001
    property image
    LEASED 10/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $0.88
    •  
  • 7542 Coral River Drive Las Vegas, NV 5
    • 3 beds 2 baths ∙ 1,835 Sqft ∙ Built 2001 3 beds 2 baths ∙ 1,835 Sqft ∙ Built 2001
    property image
    LEASED 12/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.90
    •  
PROPERTY LISTING DETAILS
Michael A Fahey
1.702.498.1000
Las Vegas Pro Realty
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2258593
Last Updated: 01/02/2021
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