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PROPERTY INFO
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.
SEE MORE
- 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
* 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 | $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
| 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
$456,250
LOAN DETAILS
$6,272
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 4.25% |
| Down Payment | $425,000 |
| Loan Amount | $1,275,000 |
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.
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$0
LIST RENT -
$0
LIST RENT PER SQFT
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$4,458
COMP ESTIMATED VALUE -
$1
COMP AVG. RENT PER SQFT
Comps Range
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LEASED 03/09/20- Rent
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- $4,100
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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
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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
1.702.292.6788
Real Simple Real Estate
1.866.250.5610
Mynd Property Management
1453579
MLS #: 2253425
Last Updated: 12/05/2020
