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516 Lava Beds Way North Las Vegas, NV 89084

3 Beds 3 Baths 1,953 sqft Built 2001

$339,000

List Price

$1,660

$1.5K - $1.8K

Rent Est.

PROPERTY INFO

January 17, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2001
  • Price/Sqft : $173.58
  • 2 Days on Market
  • MLS # : 2262082
  • Updated Date : 01/17/2021 at 02:30
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,953 sqft
  • Baths : 2 full , 1 half
Listing Agent

Platinum R.e. Professionals

Listing Agent's Description

Incredible two story pool home in gated community! Bright & airy flooplan features formal living & dining area. Spacious kitchen with granite counters, island and pantry open to large family room. Great for entertaining. Large master suite with ceiling fan and walk in closet, double sinks, separate shower and tub. Loft, two tone paint and ceiling fans. Additional Samsung Air conditioning unit connected directly to every bedroom with their own settings, allowing every bedroom extra cool air for the warm summer months. Enjoy the pool/spa and fire pit in the backyard. Picnic in the community parks.

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: Parks

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280kPrice in $110k296k

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

Neighborhood: Parks

NeighborhoodNIR Market*CityMarket2010Year20002019 Q29501000105011001150120012501300135014001450150015501600Rent in $9431606

* 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
Don E. Hayden Elementary School Primary Regular 702 38 6
Clifford O. Findlay Middle School Middle Regular 1,372 59 NA
Legacy High School High Regular 2,819 119 3

Don E. Hayden Elementary School

  • Education Level: Primary
  • # of students: 702
  • # of teachers: 38
6
GreatSchools Rating

Clifford O. Findlay Middle School

  • Education Level: Middle
  • # of students: 1,372
  • # of teachers: 59
NA
GreatSchools Rating

Legacy High School

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

$305,100$372,900$339,000

PURCHASE PRICE

$1,494$1,826$1,660

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,660
EXPENSES Loan Payment -$1,177
Property Tax -$269
Property Insurance -$65
Property Management Fees -$119
CASH FLOW
$30

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.

$339,000

PROJECTED PRICE

$1,660

PROJECTED RENT

0.49%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.96%
Appreciation Year (1-5) 12.8%
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$0.0$5.0k$10k$15k

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$95,585

INVESTMENT

$95,585

Down Payment
$84,750
Rehab Estimate
$5,750
Closing Costs
$5,085

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 45% down payment or higher enables the proceeds from the asset to cover all costs.

$1,177

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $84,750
Loan Amount $254,250
See What Happens When You Reinvest Cash Flow

6.17

YEARS SAVED

$23,915

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,660

    LIST RENT
  • $0.85

    LIST RENT PER SQFT
  • $1,514

    COMP ESTIMATED VALUE
  • $0.78

    COMP AVG. RENT PER SQFT
Comps Range
$1,325
1$1,3252$1,3953$1,3954$1,5005$1,660
$1,660
RENT COMPS ANALYSIS
  • 516 Lava Beds Way North Las Vegas, NV 5
    • 3 beds 3 baths ∙ 1,953 Sqft ∙ Built 2001 3 beds 3 baths ∙ 1,953 Sqft ∙ Built 2001
    • Rent
    • Rent Per SQFT
    •  
    • $1,660
    • $0.85
    •  
  • 6344 Tim English Street North Las Vegas, NV 1
    • 3 beds 2 baths ∙ 1,799 Sqft ∙ Built 2004 3 beds 2 baths ∙ 1,799 Sqft ∙ Built 2004
    LEASED 05/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,325
    • $0.74
    •  
  • 6333 Aloha Sue North Las Vegas, NV 2
    • 3 beds 2 baths ∙ 1,799 Sqft ∙ Built 2004 3 beds 2 baths ∙ 1,799 Sqft ∙ Built 2004
    LEASED 06/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,395
    • $0.78
    •  
  • 6341 Kitamaya Las Vegas, NV 3
    • 3 beds 3 baths ∙ 1,799 Sqft ∙ Built 2004 3 beds 3 baths ∙ 1,799 Sqft ∙ Built 2004
    LEASED 05/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,395
    • $0.78
    •  
  • 606 Painted Opus Place #0 North Las Vegas, NV 4
    • 3 beds 3 baths ∙ 1,871 Sqft ∙ Built 2002 3 beds 3 baths ∙ 1,871 Sqft ∙ Built 2002
    LEASED 02/26/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $0.80
    •  
PROPERTY LISTING DETAILS
Cody T Corio
1.702.704.4080
Platinum R.e. Professionals
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2262082
Last Updated: 01/17/2021
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