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

5265 Mandalay Springs Drive Las Vegas, NV 89120

3 Beds 1 Baths 1,228 sqft Built 1993

$349,900

List Price

$1,230

$1.1K - $1.4K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
July 12, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1993
  • Price/Sqft : $284.93
  • 2 Days on Market
  • MLS # : 2313904
  • Updated Date : 07/13/2021 at 16:03
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,228 sqft
  • Baths : 1 full
Listing Agent

Nationwide Realty Llc

Listing Agent's Description

BEAUTIFUL SINGLE STORY HOME IN GATED COMMUNITY* 3 BEDROOMS 2 BATHS* OPEN FLOOR PLAN* LOVELY KITCHEN WITH GRANITE COUNTER TOPS, ALL APPLIANCES INCLUDED * PRIMARY BEDROOM WITH CEILING FAN LIGHTS, WALK IN CLOSET* DOUBLE SINKS* BACKYARD WITH COVERED PATIO FOR OUTDOOR ENTERTAINING* DESERT LANDSCAPE AND PLENTY MORE TO ENJOY!!! NEAR FREEWAY AND SHOPPING CENTERS!!!

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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)

PRICE & RENT TRENDS

Neighborhood: Paradise

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280kPrice in $112k296k

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

Neighborhood: Paradise

NeighborhoodNIR Market*CityMarket2010Year20002019 Q211001150120012501300135014001450150015501600Rent in $10761606

* 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
Doris French Elementary School Primary Regular 447 25 8
Helen C. Cannon Middle School Middle Regular 867 39 NA
Del Sol High School High Regular 2,051 73 2

Doris French Elementary School

  • Education Level: Primary
  • # of students: 447
  • # of teachers: 25
8
GreatSchools Rating

Helen C. Cannon Middle School

  • Education Level: Middle
  • # of students: 867
  • # of teachers: 39
NA
GreatSchools Rating

Del Sol High School

  • Education Level: High
  • # of students: 2,051
  • # of teachers: 73
2
GreatSchools Rating
 

$314,910$384,890$349,900

PURCHASE PRICE

$1,107$1,353$1,230

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,230
EXPENSES Loan Payment -$1,215
Property Tax -$137
Property Insurance -$51
HOA -$15
Property Management Fees -$119
CASH FLOW
-$307

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.

$349,900

PROJECTED PRICE

$1,230

PROJECTED RENT

0.35%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.96%
Appreciation Year (1-5) 9.4%
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

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$1.2M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$98,474

INVESTMENT

$98,474

Down Payment
$87,475
Rehab Estimate
$5,750
Closing Costs
$5,249

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,215

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $87,475
Loan Amount $262,425
See What Happens When You Reinvest Cash Flow

1.67

YEARS SAVED

$3,570

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,230

    LIST RENT
  • $1

    LIST RENT PER SQFT
  • $1,265

    COMP ESTIMATED VALUE
  • $1.03

    COMP AVG. RENT PER SQFT
Comps Range
$1,175
1$1,1752$1,2253$1,2304$1,2505$1,250
$1,250
RENT COMPS ANALYSIS
  • 5265 Mandalay Springs Drive Las Vegas, NV 3
    • 3 beds 1 baths ∙ 1,228 Sqft ∙ Built 1993 3 beds 1 baths ∙ 1,228 Sqft ∙ Built 1993
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,230
    • $1.00
    •  
  • 3066 Tarpon Drive #201 Las Vegas, NV 1
    • 3 beds 2 baths ∙ 1,190 Sqft ∙ Built 1994 3 beds 2 baths ∙ 1,190 Sqft ∙ Built 1994
    property image
    LEASED 12/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,175
    • $0.99
    •  
  • 3120 Tarpon Drive #204 Las Vegas, NV 2
    • 3 beds 2 baths ∙ 1,190 Sqft ∙ Built 1994 3 beds 2 baths ∙ 1,190 Sqft ∙ Built 1994
    property image
    LEASED 12/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,225
    • $1.03
    •  
  • 3070 Tarpon Drive #104 Las Vegas, NV 4
    • 3 beds 2 baths ∙ 1,190 Sqft ∙ Built 1994 3 beds 2 baths ∙ 1,190 Sqft ∙ Built 1994
    property image
    LEASED 09/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,250
    • $1.05
    •  
  • 3065 Casey Drive #202 Las Vegas, NV 5
    • 3 beds 2 baths ∙ 1,190 Sqft ∙ Built 1995 3 beds 2 baths ∙ 1,190 Sqft ∙ Built 1995
    property image
    LEASED 09/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,250
    • $1.05
    •  
PROPERTY LISTING DETAILS
Veska Mourtazova
1.702.358.4616
Nationwide Realty Llc
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2313904
Last Updated: 07/13/2021
BESbswy