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PROPERTY INFO
FACTS
- Single Family
- Built In 1999
- Price/Sqft : $300.72
- 3 Days on Market
- MLS # : 2260729
- Updated Date : 01/16/2021 at 18:07
CONSTRUCTION
- Beds : 4
- Floor Size : 3,455 sqft
- Baths : 4 full , 1 half
Listing Agent
Realty One Group, Inc
Listing Agent's Description
Luxurious Lifestyle in the Exclusive area of Guard Gated Red Rock Country Club! Elegant Custom 4 bedroom 4.5 bath home on an oversized lot. Upon entry you will be greeted with Spiral staircase that accentuates Spectacular vaulted ceilings & formal living room. Gorgeous Travertine flooring covers the entire first floor. The homes amazing custom kitchen has an abundance of custom cabinetry and prep space for any aspiring chef. It opens up to the warm and inviting great room with cozy fireplace. Formal dining room has a wetbar for all of your entertaining. First floor boasts bedroom and bath combo great for your guests. There is three bedroom ensuites upstairs. along with the Spacious master bedroom w/balcony & 2 walk-in closets. All baths have been remodeled with new sinks, toilets and cabinetry. Beautifully landscaped backyard with patio and lush lawns. The home has all new top of the line A/C units installed....Come live your life of Elegance today!
SEE MORE
- 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: Red Rock Country Club at Summerlin
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: Red Rock Country Club at Summerlin
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $3,760 |
| EXPENSES | Loan Payment | -$3,609 |
| Property Tax | -$539 | |
| Property Insurance | -$94 | |
| Property Management Fees | -$119 | |
|
CASH FLOW
-$601
|
||
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.
$1,039,000
PROJECTED PRICE
$3,760
PROJECTED RENT
0.36%
PROJECTED RENT / PRICE RATIO
| Expense Inflation | 2.50% |
| Rental Growth Year (1-5) | 4.75% |
| Appreciation Year (1-5) | 4.3% |
| Maintenance Year (1-5) | 8.00% |
| Vacancy | 7.56% |
| Length of Stay Years | 2 |
PROJECTED ACCUMULATED WEALTH
30 YEAR PROJECTION
- Cash Flow
- Appreciation
- Principal
PROJECTED ANNUAL CASH FLOW
PROJECTED PROPERTY VALUE
30 YEAR PROJECTION
- Appreciation
- Principal
- Loan Balance
TOTAL CASH OUT OF POCKET
INVESTMENT
$281,085
LOAN DETAILS
$3,609
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 3.75% |
| Down Payment | $259,750 |
| Loan Amount | $779,250 |
3.42
YEARS SAVED
$30,535
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$3,760
LIST RENT -
$1.09
LIST RENT PER SQFT
-
$3,541
COMP ESTIMATED VALUE -
$1.03
COMP AVG. RENT PER SQFT
Comps Range
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- $3,800
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LEASED 08/18/20- Rent
- Rent Per SQFT
- $4,000
- $1.17
PROPERTY LISTING DETAILS
1.702.726.0110
Realty One Group, Inc
1.866.250.5610
Mynd Property Management
1453579
MLS #: 2260729
Last Updated: 01/16/2021
