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128 Honors Course Drive 
Las Vegas, NV
89148
5 Beds 4 Baths 3,428 sqft
Built 2007
INVESTimate
$509,999
List Price
$140,900
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PROPERTY INFO
FACTS
- Built In 2007
- Price/Sqft : $148.77
- 6 Days on Market
- MLS # : 2223884
- Updated Date : 08/26/2020 at 02:00
CONSTRUCTION
- Beds : 5
- Floor Size : 3,428 sqft
- Baths : 3 full , 1 half
Listing Agent
Orange Realty Group Llc
Listing Agent's Description
Amazing Ready to Move In Home with a Full Casita in the famous Golf Community Rhodes Ranch! This Spacious upgraded home offers 5 bedroom including the Next Gen separate addition. This open space house is fully upgraded with Shutters throughout. A Cook's Dream Kitchen featuring Stainless Steel appliances and plenty of granite counters, perfect for entertainment. The master bedroom features a fireplace, shutters, a separate tub, a custom closet and much more. Jack & jill bath to cover both kids rooms, a huge loft for entertainment with ceiling fans a balcony and ample storage space. Separate A/C units to service all different areas. The community offers peace of mind with Guard Gate, Security a gold course and a clubhouse offering full amenities a Lifetime gym would. This is a must see! Welcome Home.
SEE MORE
- 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: Rhodes Ranch
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: Rhodes Ranch
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
PROJECTED ACCUMULATED WEALTH
30 YEAR PROJECTION
- Cash Flow
- Appreciation
- Principal
PROJECTED ANNUAL CASH FLOW
PROJECTED PROPERTY VALUE
30 YEAR PROJECTION
- Appreciation
- Principal
- Loan Balance
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $2,380 |
| EXPENSES | Loan Payment | -$1,882 |
| Property Tax | -$359 | |
| Property Insurance | -$94 | |
| Property Management Fees | -$119 | |
|
CASH FLOW
-$73
|
||
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.
$509,999
PROJECTED PRICE
$2,380
PROJECTED RENT
0.47%
PROJECTED RENT / PRICE RATIO
| Expense Inflation | 2.50% |
| Rental Growth Year (1-5) | 3.96% |
| Appreciation Year (1-5) | 8.79% |
| Maintenance Year (1-5) | 8.00% |
| Vacancy | 7.63% |
| Length of Stay Years | 2 |
TOTAL CASH OUT OF POCKET
INVESTMENT
$140,900
LOAN DETAILS
$1,882
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 4.25% |
| Down Payment | $127,500 |
| Loan Amount | $382,499 |
5.17
YEARS SAVED
$32,394
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$2,380
LIST RENT -
$0.69
LIST RENT PER SQFT
-
$2,554
COMP ESTIMATED VALUE -
$0.75
COMP AVG. RENT PER SQFT
Comps Range
-
128 Honors Course Drive Las Vegas, NV 1
- 5 beds 4 baths ∙ 3,428 Sqft ∙ Built 2007 5 beds 4 baths ∙ 3,428 Sqft ∙ Built 2007
- Rent
- Rent Per SQFT
- $2,380
- $0.69
-
21 Bridal Falls Court Las Vegas, NV 2
- 5 beds 4 baths ∙ 3,494 Sqft ∙ Built 1998 5 beds 4 baths ∙ 3,494 Sqft ∙ Built 1998
LEASED 11/25/19- Rent
- Rent Per SQFT
- $2,400
- $0.69
-
72 Crooked Putter Drive Las Vegas, NV 3
- 5 beds 3 baths ∙ 3,428 Sqft ∙ Built 2010 5 beds 3 baths ∙ 3,428 Sqft ∙ Built 2010
LEASED 02/24/20- Rent
- Rent Per SQFT
- $2,400
- $0.70
-
758 Canary Wharf Drive Las Vegas, NV 4
- 4 beds 3 baths ∙ 3,536 Sqft ∙ Built 2006 4 beds 3 baths ∙ 3,536 Sqft ∙ Built 2006
LEASED 08/07/20- Rent
- Rent Per SQFT
- $2,499
- $0.71
-
9631 Aqua Harbor Way Las Vegas, NV 5
- 5 beds 3 baths ∙ 3,626 Sqft ∙ Built 2019 5 beds 3 baths ∙ 3,626 Sqft ∙ Built 2019
LEASED 02/21/20- Rent
- Rent Per SQFT
- $3,200
- $0.88
PROPERTY LISTING DETAILS
1.702.704.4376
Orange Realty Group Llc
1.866.250.5610
Mynd Property Management
1453579
MLS #: 2223884
Last Updated: 08/26/2020
