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121 Ring Dove Drive Las Vegas, NV 89144

4 Beds 3 Baths 3,491 sqft Built 2001

$850,000

List Price

$3,670

$3.4K - $3.9K

Rent Est.

PROPERTY INFO

FACTS
  • Built In 2001
  • Price/Sqft : $243.48
  • 11 Days on Market
  • MLS # : 2242292
  • Updated Date : 10/30/2020 at 10:33
CONSTRUCTION
  • Beds : 4
  • Floor Size : 3,491 sqft
  • Baths : 3 full
Listing Agent

Listing Haven

Listing Agent's Description

Timeless, architectural elegance coupled with exclusivity and convenience underscores the beauty of 121 S. Ring Dove Drive. Located 2.5 miles from Downtown Summerlin in The Canyons, Summerlin master-plan’s 754 acre village surrounding the scenic fairways of TPC Las Vegas, this 4 bed/4 bath, 3,491 sqft. home rests on an impressive 9,148 sqft. interior lot within the coveted Talon Pointe community. A grand entry complimented by a double-height ceiling in the front room and windows that capture the essence of the Caribbean-inspired pool beyond harmonize to create a welcoming, spacious atmosphere. Marrying beauty and function, the outdoor retreat is a dream oasis perfect for entertaining guests or lounging in relaxation. Welcome to 121 S. Ring Dove Drive. Welcome home.

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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: The Canyons

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450k500k550k600k650k700kPrice in $119k728k

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

Neighborhood: The Canyons

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21500200025003000350040004500Rent in $10764605

* 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
John W. Bonner Elementary School Primary Regular 859 47 10
Sig Rogich Middle School Middle Regular 1,845 70 NA
Palo Verde High School High Regular 3,024 114 9

John W. Bonner Elementary School

  • Education Level: Primary
  • # of students: 859
  • # of teachers: 47
10
GreatSchools Rating

Sig Rogich Middle School

  • Education Level: Middle
  • # of students: 1,845
  • # of teachers: 70
NA
GreatSchools Rating

Palo Verde High School

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

$765,000$935,000$850,000

PURCHASE PRICE

$3,303$4,037$3,670

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,670
EXPENSES Loan Payment -$3,136
Property Tax -$595
Property Insurance -$95
HOA -$80
Property Management Fees -$119
CASH FLOW
-$355

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.

$850,000

PROJECTED PRICE

$3,670

PROJECTED RENT

0.43%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.05%
Appreciation Year (1-5) 1.3%
Maintenance Year (1-5) 8.00%
Vacancy 7.57%
Length of Stay Years 2

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$231,000

INVESTMENT

$231,000

Down Payment
$212,500
Rehab Estimate
$5,750
Closing Costs
$12,750

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$3,136

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $212,500
Loan Amount $637,500
See What Happens When You Reinvest Cash Flow

3.67

YEARS SAVED

$34,253

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,670

    LIST RENT
  • $1.05

    LIST RENT PER SQFT
  • $3,692

    COMP ESTIMATED VALUE
  • $1.06

    COMP AVG. RENT PER SQFT
Comps Range
$3,500
1$3,5002$3,5003$3,6704$3,8145$3,995
$3,995
RENT COMPS ANALYSIS
  • 121 Ring Dove Drive Las Vegas, NV 3
    • 4 beds 3 baths ∙ 3,491 Sqft ∙ Built 2001 4 beds 3 baths ∙ 3,491 Sqft ∙ Built 2001
    • Rent
    • Rent Per SQFT
    •  
    • $3,670
    • $1.05
    •  
  • 225 Buteo Woods Lane #0 Las Vegas, NV 1
    • 5 beds 5 baths ∙ 3,570 Sqft ∙ Built 1999 5 beds 5 baths ∙ 3,570 Sqft ∙ Built 1999
    LEASED 11/21/19
    • Rent
    • Rent Per SQFT
    •  
    • $3,500
    • $0.98
    •  
  • 9725 Gavin Stone Avenue Las Vegas, NV 2
    • 4 beds 4 baths ∙ 3,425 Sqft ∙ Built 1997 4 beds 4 baths ∙ 3,425 Sqft ∙ Built 1997
    LEASED 08/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,500
    • $1.02
    •  
  • 10008 Alegria Drive Las Vegas, NV 4
    • 3 beds 4 baths ∙ 3,422 Sqft ∙ Built 2000 3 beds 4 baths ∙ 3,422 Sqft ∙ Built 2000
    LEASED 10/15/19
    • Rent
    • Rent Per SQFT
    •  
    • $3,814
    • $1.11
    •  
  • 136 South Ring Dove Drive Las Vegas, NV 5
    • 5 beds 4 baths ∙ 3,570 Sqft ∙ Built 2001 5 beds 4 baths ∙ 3,570 Sqft ∙ Built 2001
    LEASED 04/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,995
    • $1.12
    •  
PROPERTY LISTING DETAILS
Donald Romero
1.702.551.4573
Listing Haven
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2242292
Last Updated: 10/30/2020
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