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11692 Glowing Sunset Lane Las Vegas, NV 89135

4 Beds 3 Baths 3,579 sqft Built 2003

$1,789,000

List Price

$4,870

$4.6K - $5.1K

Rent Est.

PROPERTY INFO

November 04, 2020 RECENTLY ADDED
FACTS
  • Built In 2003
  • Price/Sqft : $499.86
  • 5 Days on Market
  • MLS # : 2244597
  • Updated Date : 11/07/2020 at 15:42
CONSTRUCTION
  • Beds : 4
  • Floor Size : 3,579 sqft
  • Baths : 2 full , 1 half
Listing Agent

Red Rock Realty

Listing Agent's Description

*VERY RARE RED ROCK COUNTRY CLUB HOME * Breathtaking, Unobstructed Strip Views From Every Living Area, Master Bedroom / Bathroom, and Back Yard! The Home Sits Above the 12th Hole of the Private Mountain Golf Course (No Golf Balls)! Armed Guard Gated Country Club Community! Fully Renovated in 2020 including Level 5 Smooth Drywall Texture throughout the Whole Home including the 4 Car Garages! Brand New Heated Salt Water Pool / Spa with Full Automation. European Style Cabinets with Beautiful White Quartz / Marble Countertops. High End Stainless Steel Kitchen Aid Appliances including 48" Built in Refrigerator, 48" Gas Range with Double Convection Oven & Flat Grill Top, etc! No Carpet in this Designer Home! Private Courtyard with a Separate Entrance into the 4th Bedroom which could be used as a Private Home Office. 2 Golf Courses in the Community! Located in the Heart of Summerlin, Just Minutes Away from Downtown Summerlin with all of its Restaurants, Shopping, and Entertainment!

SEE MORE

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: 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
 

$1,610,100$1,967,900$1,789,000

PURCHASE PRICE

$4,383$5,357$4,870

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $4,870
EXPENSES Loan Payment -$6,601
Property Tax -$827
Property Insurance -$96
Property Management Fees -$119
CASH FLOW
-$2,773

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.

$1,789,000

PROJECTED PRICE

$4,870

PROJECTED RENT

0.27%

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-$40k-$30k-$20k-$10k$0.0$10k$20k$30k

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$479,835

INVESTMENT

$479,835

Down Payment
$447,250
Rehab Estimate
$5,750
Closing Costs
$26,835

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 70% down payment or higher enables the proceeds from the asset to cover all costs.

$6,601

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $447,250
Loan Amount $1,341,750
See What Happens When You Reinvest Cash Flow

0.25

YEARS SAVED

$498

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $4,870

    LIST RENT
  • $1.36

    LIST RENT PER SQFT
  • $3,454

    COMP ESTIMATED VALUE
  • $0.97

    COMP AVG. RENT PER SQFT
Comps Range
$2,900
1$2,9002$3,4003$3,4954$3,8005$4,870
$4,870
RENT COMPS ANALYSIS
  • 11692 Glowing Sunset Lane Las Vegas, NV 5
    • 4 beds 3 baths ∙ 3,579 Sqft ∙ Built 2003 4 beds 3 baths ∙ 3,579 Sqft ∙ Built 2003
    • Rent
    • Rent Per SQFT
    •  
    • $4,870
    • $1.36
    •  
  • 3294 Mission Creek Court Las Vegas, NV 1
    • 4 beds 3 baths ∙ 3,455 Sqft ∙ Built 2002 4 beds 3 baths ∙ 3,455 Sqft ∙ Built 2002
    LEASED 10/11/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,900
    • $0.84
    •  
  • 2912 Soft Horizon Way Las Vegas, NV 2
    • 4 beds 4 baths ∙ 3,325 Sqft ∙ Built 2001 4 beds 4 baths ∙ 3,325 Sqft ∙ Built 2001
    LEASED 05/09/19
    • Rent
    • Rent Per SQFT
    •  
    • $3,400
    • $1.02
    •  
  • 3066 Lenoir Street Las Vegas, NV 3
    • 5 beds 3 baths ∙ 3,723 Sqft ∙ Built 2001 5 beds 3 baths ∙ 3,723 Sqft ∙ Built 2001
    LEASED 09/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,495
    • $0.94
    •  
  • 2620 Grassy Spring Place Las Vegas, NV 4
    • 4 beds 4 baths ∙ 3,601 Sqft ∙ Built 2000 4 beds 4 baths ∙ 3,601 Sqft ∙ Built 2000
    LEASED 12/04/19
    • Rent
    • Rent Per SQFT
    •  
    • $3,800
    • $1.06
    •  
PROPERTY LISTING DETAILS
Phillip Alexander
1.323.459.8951
Red Rock Realty
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2244597
Last Updated: 11/07/2020
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