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5108 Chambliss Drive Las Vegas, NV 89130

3 Beds 2 Baths 1,200 sqft Built 1993

$287,500

List Price

$1,290

$1.2K - $1.4K

Rent Est.

PROPERTY INFO

December 10, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1993
  • Price/Sqft : $239.58
  • 6 Days on Market
  • MLS # : 2254442
  • Updated Date : 12/09/2020 at 20:30
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,200 sqft
  • Baths : 2 full
Listing Agent

Re/max Central

Listing Agent's Description

Rare opportunity to get a single family home for under 300! Single story home with 3 bedrooms and 2 full baths, and 2 car garage. Giant low maintenance yard with synthetic no water turf, great for entertaining (over 6500 sq ft of yard) AND NO HOA!! Check it out today!

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: Northwest Citizens Board

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280kPrice in $113k296k

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

Neighborhood: Northwest Citizens Board

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21000105011001150120012501300135014001450150015501600Rent in $9671606

* 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
Ernest May Elementary School Primary Regular 665 33 8
Theron L. Swainston Middle School Middle Regular 1,146 52 NA
Shadow Ridge High School High Regular 2,697 105 6

Ernest May Elementary School

  • Education Level: Primary
  • # of students: 665
  • # of teachers: 33
8
GreatSchools Rating

Theron L. Swainston Middle School

  • Education Level: Middle
  • # of students: 1,146
  • # of teachers: 52
NA
GreatSchools Rating

Shadow Ridge High School

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

$258,750$316,250$287,500

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 -$1,061
Property Tax -$166
Property Insurance -$50
Property Management Fees -$119
CASH FLOW
-$106

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.

$287,500

PROJECTED PRICE

$1,290

PROJECTED RENT

0.45%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.96%
Appreciation Year (1-5) 9.7%
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

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$81,938

INVESTMENT

$81,938

Down Payment
$71,875
Rehab Estimate
$5,750
Closing Costs
$4,313

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,061

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $71,875
Loan Amount $215,625
See What Happens When You Reinvest Cash Flow

4.25

YEARS SAVED

$13,523

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
  • $1.08

    LIST RENT PER SQFT
  • $1,047

    COMP ESTIMATED VALUE
  • $0.87

    COMP AVG. RENT PER SQFT
Comps Range
$1,000
1$1,0002$1,2503$1,2904$1,3505$1,390
$1,390
RENT COMPS ANALYSIS
  • 5108 Chambliss Drive Las Vegas, NV 3
    • 3 beds 2 baths ∙ 1,200 Sqft ∙ Built 1993 3 beds 2 baths ∙ 1,200 Sqft ∙ Built 1993
    • Rent
    • Rent Per SQFT
    •  
    • $1,290
    • $1.08
    •  
  • 5917 Tippin Drive Las Vegas, NV 1
    • 3 beds 2 baths ∙ 1,214 Sqft ∙ Built 1989 3 beds 2 baths ∙ 1,214 Sqft ∙ Built 1989
    LEASED 04/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,000
    • $0.82
    •  
  • 6541 Hillside Brook Avenue Las Vegas, NV 2
    • 3 beds 2 baths ∙ 1,446 Sqft ∙ Built 1997 3 beds 2 baths ∙ 1,446 Sqft ∙ Built 1997
    LEASED 07/15/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,250
    • $0.86
    •  
  • 5032 Drummond Road #n/a Las Vegas, NV 4
    • 3 beds 2 baths ∙ 1,501 Sqft ∙ Built 1991 3 beds 2 baths ∙ 1,501 Sqft ∙ Built 1991
    LEASED 04/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,350
    • $0.90
    •  
  • 4513 Sonoma Sunset Court Las Vegas, NV 5
    • 3 beds 3 baths ∙ 1,523 Sqft ∙ Built 2010 3 beds 3 baths ∙ 1,523 Sqft ∙ Built 2010
    LEASED 01/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,390
    • $0.91
    •  
PROPERTY LISTING DETAILS
Marilyn J Mattson
1.702.379.0021
Re/max Central
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2254442
Last Updated: 12/09/2020
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