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5308 Lambrook Drive Las Vegas, NV 89130

4 Beds 3 Baths 1,731 sqft Built 1989

$329,900

List Price

$1,630

$1.5K - $1.8K

Rent Est.

PROPERTY INFO

January 06, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1989
  • Price/Sqft : $190.58
  • 5 Days on Market
  • MLS # : 2259254
  • Updated Date : 01/06/2021 at 20:30
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,731 sqft
  • Baths : 2 full , 1 half
Listing Agent

Urban Nest Realty

Listing Agent's Description

Great 4 bedroom house. Pool and spa. Updated kitchen. RV parking with gate at the front of the house. Mature landscaping, original owner. Freshly painted with new base boards and carpet and flooring looks brand new.

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: North Cheyenne

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300kPrice in $119k302k

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

Neighborhood: North Cheyenne

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2105011001150120012501300135014001450150015501600Rent in $10011606

* 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
 

$296,910$362,890$329,900

PURCHASE PRICE

$1,467$1,793$1,630

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,630
EXPENSES Loan Payment -$1,146
Property Tax -$191
Property Insurance -$61
Property Management Fees -$119
CASH FLOW
$113

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.

$329,900

PROJECTED PRICE

$1,630

PROJECTED RENT

0.49%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.96%
Appreciation Year (1-5) 10.7%
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$1.2M$1.4M

PROJECTED ANNUAL CASH FLOW

11530$0.0$5.0k$10k$15k$20k

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$93,174

INVESTMENT

$93,174

Down Payment
$82,475
Rehab Estimate
$5,750
Closing Costs
$4,949

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 40% down payment or higher enables the proceeds from the asset to cover all costs.

$1,146

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $82,475
Loan Amount $247,425
See What Happens When You Reinvest Cash Flow

7.58

YEARS SAVED

$32,212

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,630

    LIST RENT
  • $0.94

    LIST RENT PER SQFT
  • $1,567

    COMP ESTIMATED VALUE
  • $0.9

    COMP AVG. RENT PER SQFT
Comps Range
$1,450
1$1,4502$1,5003$1,5254$1,5505$1,630
$1,630
RENT COMPS ANALYSIS
  • 5308 Lambrook Drive Las Vegas, NV 5
    • 4 beds 3 baths ∙ 1,731 Sqft ∙ Built 1989 4 beds 3 baths ∙ 1,731 Sqft ∙ Built 1989
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,630
    • $0.94
    •  
  • 4801 Fiesta Lakes Street Las Vegas, NV 1
    • 3 beds 3 baths ∙ 1,584 Sqft ∙ Built 1990 3 beds 3 baths ∙ 1,584 Sqft ∙ Built 1990
    property image
    LEASED 06/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $0.92
    •  
  • 6104 Desert Haven Road Las Vegas, NV 2
    • 3 beds 2 baths ∙ 1,604 Sqft ∙ Built 1994 3 beds 2 baths ∙ 1,604 Sqft ∙ Built 1994
    property image
    LEASED 02/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $0.94
    •  
  • 5705 Spicewood Las Vegas, NV 3
    • 3 beds 2 baths ∙ 1,764 Sqft ∙ Built 1987 3 beds 2 baths ∙ 1,764 Sqft ∙ Built 1987
    property image
    LEASED 06/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,525
    • $0.86
    •  
  • 4945 Cedar Lawn Way Las Vegas, NV 4
    • 3 beds 1 baths ∙ 1,722 Sqft ∙ Built 1995 3 beds 1 baths ∙ 1,722 Sqft ∙ Built 1995
    property image
    LEASED 04/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $0.90
    •  
PROPERTY LISTING DETAILS
Carlos M Vazquez
1.702.236.6522
Urban Nest Realty
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2259254
Last Updated: 01/06/2021
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