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11828 Waterford Castle Court Las Vegas, NV 89141

3 Beds 4 Baths 3,381 sqft Built 2002

INVESTimate

$680,000

List Price

$2,750

$2,500 - $3,000

Rent Est.

$734,060  ( +7.95%)   1 YR EST. FORECAST

PROPERTY INFO

August 25, 2020 RECENTLY ADDED
FACTS
  • Built In 2002
  • Price/Sqft : $201.12
  • 2 Days on Market
  • MLS # : 2223437
  • Updated Date : 08/25/2020 at 14:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 3,381 sqft
  • Baths : 3 full , 1 half
Listing Agent

Simply Vegas

Listing Agent's Description

Gorgeous celebrity-owned villa inside guard gated Southern Highlands Estates Community. Located in a quiet cul-de-sac, featuring exquisite stone exterior, private courtyard entry, spacious open floorplan, a second interior courtyard with cozy fireplace, casita, dual master bedrooms, crown molding, freshly painted two-tone interior, granite countertops, upgraded cabinets & brand new stainless steel appliances in the kitchen. Beautiful tile & marble flooring, roomy master bedroom upstairs with balcony overlooking lush landscaping. Open and airy loft on the third floor. Relax under the covered patio or enjoy a BBQ in the backyard. Ready for move-in!

SEE MORE

MARKET HIGHLIGHTS

  • 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: Southern Highlands

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320k340k360k380k400kPrice in $119k410k

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

Neighborhood: Southern Highlands

NeighborhoodNIR Market*CityMarket2010Year20002019 Q211001200130014001500160017001800Rent in $10761875

* 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
Evelyn Stuckey Elementary School Primary Regular 949 46 8
Lois And Jerry Tarkanian Middle School Middle Regular 1,739 71 NA
Desert Oasis High School High Regular 2,417 102 5

Evelyn Stuckey Elementary School

  • Education Level: Primary
  • # of students: 949
  • # of teachers: 46
8
GreatSchools Rating

Lois And Jerry Tarkanian Middle School

  • Education Level: Middle
  • # of students: 1,739
  • # of teachers: 71
NA
GreatSchools Rating

Desert Oasis High School

  • Education Level: High
  • # of students: 2,417
  • # of teachers: 102
5
GreatSchools Rating
 

$612,000$748,000$680,000

PURCHASE PRICE

$2,475$3,025$2,750

RENT

DOWN PAYMENT
FINANCING

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$500k$1.0M$1.5M$2.0M

PROJECTED ANNUAL CASH FLOW

11530-$15k-$10k-$5.0k$0.0$5.0k$10k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$500k$1.0M$1.5M$2.0M

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,750
EXPENSES Loan Payment -$2,509
Property Tax -$484
Property Insurance -$93
HOA -$405
Property Management Fees -$119
CASH FLOW
-$860

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.

$680,000

PROJECTED PRICE

$2,750

PROJECTED RENT

0.40%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.05%
Appreciation Year (1-5) 7.95%
Maintenance Year (1-5) 8.00%
Vacancy 7.57%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$185,950

INVESTMENT

$185,950

Down Payment
$170,000
Rehab Estimate
$5,750
Closing Costs
$10,200

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,509

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $170,000
Loan Amount $510,000
See What Happens When You Reinvest Cash Flow

0.33

YEARS SAVED

$644

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,750

    LIST RENT
  • $0.81

    LIST RENT PER SQFT
  • $3,009

    COMP ESTIMATED VALUE
  • $0.89

    COMP AVG. RENT PER SQFT
Comps Range
$2,500
1$2,5002$2,7503$2,8504$2,9955$3,500
$3,500
RENT COMPS ANALYSIS
  • 11828 Waterford Castle Court Las Vegas, NV 2
    • 3 beds 4 baths ∙ 3,381 Sqft ∙ Built 2002 3 beds 4 baths ∙ 3,381 Sqft ∙ Built 2002
    • Rent
    • Rent Per SQFT
    •  
    • $2,750
    • $0.81
    •  
  • 3528 Cupecoy Point Avenue Las Vegas, NV 1
    • 3 beds 3 baths ∙ 3,133 Sqft ∙ Built 2004 3 beds 3 baths ∙ 3,133 Sqft ∙ Built 2004
    LEASED 10/26/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $0.80
    •  
  • 113 Opulent Rose Avenue Las Vegas, NV 3
    • 4 beds 4 baths ∙ 3,274 Sqft ∙ Built 2017 4 beds 4 baths ∙ 3,274 Sqft ∙ Built 2017
    LEASED 11/13/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,850
    • $0.87
    •  
  • 105 Opulent Rose Avenue Las Vegas, NV 4
    • 4 beds 4 baths ∙ 3,275 Sqft ∙ Built 2017 4 beds 4 baths ∙ 3,275 Sqft ∙ Built 2017
    LEASED 06/19/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,995
    • $0.91
    •  
  • 11562 Capanna Rosso Las Vegas, NV 5
    • 4 beds 4 baths ∙ 3,589 Sqft ∙ Built 2004 4 beds 4 baths ∙ 3,589 Sqft ∙ Built 2004
    LEASED 06/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,500
    • $0.98
    •  
PROPERTY LISTING DETAILS
Susan L Norris
1.702.238.3778
Simply Vegas
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2223437
Last Updated: 08/25/2020
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