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10704 Dover Creek Avenue Las Vegas, NV 89134

2 Beds 1 Baths 1,842 sqft Built 1999

$489,999

List Price

$1,770

$1.6K - $1.9K

Rent Est.

PROPERTY INFO

January 02, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1999
  • Price/Sqft : $266.01
  • 2 Days on Market
  • MLS # : 2258765
  • Updated Date : 01/03/2021 at 00:32
CONSTRUCTION
  • Beds : 2
  • Floor Size : 1,842 sqft
  • Baths : 1 full
Listing Agent

The Boeckle Group

Listing Agent's Description

WOW CHECK THIS OUT! THIS BEAUTIFUL HOME LOCATED IN THE REPUTABLE COMMUNITY OF SUN CITY SUMMERLIN HAS BEEN COMPLETELY REMODELED FROM TOP TO BOTTOM. LOADED WITH PLENTY OF BRAND NEW FEATURES INCLUDING FRESH 2-TONE PAINT, QUARTZ COUNTERTOPS, CUSTOM CABINETS, 5" SQUARE BASEBOARDS, STAINLESS STEEL KITCHEN APPLIANCES, WOOD-LOOK VYNIL FLOORING, CARPET, AND CONTEMPORARY FIXTURES. OPEN FLOOR PLAN DESIGN THAT YOU WON'T WANT TO MISS! SCHEDULE YOUR VIEWING TODAY!

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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: Sun City Summerlin

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320kPrice in $119k328k

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

Neighborhood: Sun City Summerlin

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21100115012001250130013501400145015001550160016501700Rent in $10671706

* 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
Ethel W. Staton Elementary School Primary Regular 880 45 9
Sig Rogich Middle School Middle Regular 1,845 70 NA
Palo Verde High School High Regular 3,024 114 9

Ethel W. Staton Elementary School

  • Education Level: Primary
  • # of students: 880
  • # of teachers: 45
9
GreatSchools Rating

Sig Rogich Middle School

  • Education Level: Middle
  • # of students: 1,845
  • # of teachers: 70
NA
GreatSchools Rating

Palo Verde High School

  • Education Level: High
  • # of students: 3,024
  • # of teachers: 114
9
GreatSchools Rating
 

$440,999$538,999$489,999

PURCHASE PRICE

$1,593$1,947$1,770

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,770
EXPENSES Loan Payment -$1,808
Property Tax -$276
Property Insurance -$63
Property Management Fees -$119
CASH FLOW
-$496

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.

$489,999

PROJECTED PRICE

$1,770

PROJECTED RENT

0.36%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.96%
Appreciation Year (1-5) 9.1%
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$1.6M

PROJECTED ANNUAL CASH FLOW

11530-$10k-$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$1.6M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$135,600

INVESTMENT

$135,600

Down Payment
$122,500
Rehab Estimate
$5,750
Closing Costs
$7,350

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 65% down payment or higher enables the proceeds from the asset to cover all costs.

$1,808

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $122,500
Loan Amount $367,499
See What Happens When You Reinvest Cash Flow

1.42

YEARS SAVED

$3,941

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,770

    LIST RENT
  • $0.96

    LIST RENT PER SQFT
  • $1,787

    COMP ESTIMATED VALUE
  • $0.97

    COMP AVG. RENT PER SQFT
Comps Range
$1,595
1$1,5952$1,6503$1,7254$1,7705$1,800
$1,800
RENT COMPS ANALYSIS
  • 10704 Dover Creek Avenue Las Vegas, NV 4
    • 2 beds 1 baths ∙ 1,842 Sqft ∙ Built 1999 2 beds 1 baths ∙ 1,842 Sqft ∙ Built 1999
    • Rent
    • Rent Per SQFT
    •  
    • $1,770
    • $0.96
    •  
  • 10312 New Frontier Lane #0 Las Vegas, NV 1
    • 2 beds 2 baths ∙ 1,694 Sqft ∙ Built 2001 2 beds 2 baths ∙ 1,694 Sqft ∙ Built 2001
    LEASED 01/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $0.94
    •  
  • 10717 Brinkwood Las Vegas, NV 2
    • 2 beds 2 baths ∙ 1,842 Sqft ∙ Built 1998 2 beds 2 baths ∙ 1,842 Sqft ∙ Built 1998
    LEASED 05/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.90
    •  
  • 10532 Broom Hill Drive Las Vegas, NV 3
    • 2 beds 1 baths ∙ 1,703 Sqft ∙ Built 1995 2 beds 1 baths ∙ 1,703 Sqft ∙ Built 1995
    LEASED 10/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,725
    • $1.01
    •  
  • 10617 Umbrella Tree Court Las Vegas, NV 5
    • 2 beds 2 baths ∙ 1,751 Sqft ∙ Built 1999 2 beds 2 baths ∙ 1,751 Sqft ∙ Built 1999
    LEASED 10/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $1.03
    •  
PROPERTY LISTING DETAILS
Khomkrit E Klaharn
1.702.416.8267
The Boeckle Group
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2258765
Last Updated: 01/03/2021
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