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11630 Evergreen Creek Lane Las Vegas, NV 89135

5 Beds 5 Baths 4,443 sqft Built 2003

$1,700,000

List Price

$5,950

$5.7K - $6.2K

Rent Est.

PROPERTY INFO

December 05, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2003
  • Price/Sqft : $382.62
  • 2 Days on Market
  • MLS # : 2253425
  • Updated Date : 12/05/2020 at 09:45
CONSTRUCTION
  • Beds : 5
  • Floor Size : 4,443 sqft
  • Baths : 4 full , 1 half
Listing Agent

Real Simple Real Estate

Listing Agent's Description

Located in the prestigious Red Rock Country Club, this home sits on one of the finest golf course lots with incredible mountain and city views. Featuring 5 bedrooms all en-suite, and a great floor plan. Property just received all NEW interior and exterior paint, refinished driveway and walkways, landscaping , all new carpet and padding, and more. Large Master suite with sitting area and covered balcony are a delight with incredible views. 3rd car garage converted to casita with 3/4 bath. A large spacious kitchen features commercial grade appliances and plenty of storage, Oasis of a backyard is perfect for entertaining or just relaxing quietly while overlooking the golf course and majestic Red Rock mountains. Don't wait this home is ready for someone to come make it their own.

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MARKET HIGHLIGHTS

  • 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)
  • 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)

PRICE & RENT TRENDS

Neighborhood: Red Rock Country Club at Summerlin

NeighborhoodNIR Market*CityMarket2010Year20002019200k300k400k500k600k700k800k900k1000kPrice in $119k1065k

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

Neighborhood: Red Rock Country Club at Summerlin

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21500200025003000350040004500Rent in $10764918

* 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
Judy And John Goolsby Elementary School Primary Regular 807 42 10
Victoria Fertitta Middle School Middle Regular 1,472 60 NA
Palo Verde High School High Regular 3,024 114 9

Judy And John Goolsby Elementary School

  • Education Level: Primary
  • # of students: 807
  • # of teachers: 42
10
GreatSchools Rating

Victoria Fertitta Middle School

  • Education Level: Middle
  • # of students: 1,472
  • # of teachers: 60
NA
GreatSchools Rating

Palo Verde High School

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

$1,530,000$1,870,000$1,700,000

PURCHASE PRICE

$5,355$6,545$5,950

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $5,950
EXPENSES Loan Payment -$6,272
Property Tax -$874
Property Insurance -$113
Property Management Fees -$119
CASH FLOW
-$1,429

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.

$1,700,000

PROJECTED PRICE

$5,950

PROJECTED RENT

0.35%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

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
11530$0.0$1.0M$2.0M$3.0M$4.0M

PROJECTED ANNUAL CASH FLOW

11530-$20k$0.0$20k$40k$60k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$1.0M$2.0M$3.0M$4.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$456,250

INVESTMENT

$456,250

Down Payment
$425,000
Rehab Estimate
$5,750
Closing Costs
$25,500

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$6,272

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $425,000
Loan Amount $1,275,000
See What Happens When You Reinvest Cash Flow

2.33

YEARS SAVED

$33,044

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $0

    LIST RENT
  • $0

    LIST RENT PER SQFT
  • $4,458

    COMP ESTIMATED VALUE
  • $1

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$4,1003$4,2004$4,550
$4,550
RENT COMPS ANALYSIS
  • 11630 Evergreen Creek Lane Las Vegas, NV 1
    • 5 beds 5 baths ∙ 4,443 Sqft ∙ Built 2003 5 beds 5 baths ∙ 4,443 Sqft ∙ Built 2003
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 11735 Glowing Sunset Lane Las Vegas, NV 2
    • 4 beds 5 baths ∙ 4,391 Sqft ∙ Built 2003 4 beds 5 baths ∙ 4,391 Sqft ∙ Built 2003
    LEASED 03/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $4,100
    • $0.93
    •  
  • 2198 Country Cove Court Las Vegas, NV 3
    • 4 beds 4 baths ∙ 4,124 Sqft ∙ Built 2005 4 beds 4 baths ∙ 4,124 Sqft ∙ Built 2005
    LEASED 12/27/19
    • Rent
    • Rent Per SQFT
    •  
    • $4,200
    • $1.02
    •  
  • 3143 Elk Clover Street Las Vegas, NV 4
    • 6 beds 6 baths ∙ 4,287 Sqft ∙ Built 2002 6 beds 6 baths ∙ 4,287 Sqft ∙ Built 2002
    LEASED 01/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $4,550
    • $1.06
    •  
PROPERTY LISTING DETAILS
Harvey Tadmor
1.702.292.6788
Real Simple Real Estate
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2253425
Last Updated: 12/05/2020
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