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12887 New Providence Street Las Vegas, NV 89141

3 Beds 3 Baths 2,299 sqft Built 2019

$499,900

List Price

$2,290

$2.1K - $2.5K

Rent Est.

PROPERTY INFO

January 02, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2019
  • Price/Sqft : $217.44
  • 2 Days on Market
  • MLS # : 2258762
  • Updated Date : 01/03/2021 at 00:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,299 sqft
  • Baths : 2 full , 1 half
Listing Agent

Keller Williams Southern Nevada

Listing Agent's Description

Welcome to The Cove! This peaceful, quaint community is tucked into the mountainside of Southern Highlands with surrounding natural desert landscape. This immaculate & ready to move in home is 1 year NEW w/ 3 bdrms, 2.5 baths, 3-car tandem garage & loaded w/upgrades. Downstairs living is spacious, flowing smoothly into dining & kitchen w/striking white cabinets, quartz counters & coffee bar. Walk in pantry is a dream as well as under stair storage for stocking up. Wood railings lead you upstairs to a lrg comfy loft w/city views. The Primary Bedroom has unobstructed mountain views, stylish walk in shower, dbl sinks & custom walk in closet. Secondary bedrooms are spacious & located opposite of the primary for privacy. Upgrades include shutters, security tint, water cond with r/o fully landscaped bckyrd w/pergola, pavers & art turf. Decompress in solitude soaking in your above ground spa with ambient bkyrd ltg or the magnificent community pool just a short walk away w/city views.

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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: Enterprise

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320k340k360kPrice in $119k362k

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

Neighborhood: Enterprise

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2100011001200130014001500160017001800Rent in $9981875

* 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
 

$449,910$549,890$499,900

PURCHASE PRICE

$2,061$2,519$2,290

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,290
EXPENSES Loan Payment -$1,844
Property Tax -$342
Property Insurance -$72
Property Management Fees -$119
CASH FLOW
-$87

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.

$499,900

PROJECTED PRICE

$2,290

PROJECTED RENT

0.46%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.05%
Appreciation Year (1-5) 9.8%
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$200k$400k$600k$800k$1.0M$1.2M$1.4M$1.6M$1.8M

PROJECTED ANNUAL CASH FLOW

11530-$5.0k$0.0$5.0k$10k$15k$20k$25k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M$1.6M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$138,224

INVESTMENT

$138,224

Down Payment
$124,975
Rehab Estimate
$5,750
Closing Costs
$7,499

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 50% down payment or higher enables the proceeds from the asset to cover all costs.

$1,844

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $124,975
Loan Amount $374,925
See What Happens When You Reinvest Cash Flow

5.17

YEARS SAVED

$31,704

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,290

    LIST RENT
  • $1

    LIST RENT PER SQFT
  • $2,293

    COMP ESTIMATED VALUE
  • $1

    COMP AVG. RENT PER SQFT
Comps Range
$2,290
1$2,2902$2,2953$2,4004$2,5005$2,600
$2,600
RENT COMPS ANALYSIS
  • 12887 New Providence Street Las Vegas, NV 1
    • 3 beds 3 baths ∙ 2,299 Sqft ∙ Built 2019 3 beds 3 baths ∙ 2,299 Sqft ∙ Built 2019
    • Rent
    • Rent Per SQFT
    •  
    • $2,290
    • $1.00
    •  
  • 12818 Slipknot Las Vegas, NV 2
    • 3 beds 3 baths ∙ 2,390 Sqft ∙ Built 2018 3 beds 3 baths ∙ 2,390 Sqft ∙ Built 2018
    LEASED 06/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,295
    • $0.96
    •  
  • 12847 Slipknot Street Las Vegas, NV 3
    • 3 beds 4 baths ∙ 2,390 Sqft ∙ Built 2019 3 beds 4 baths ∙ 2,390 Sqft ∙ Built 2019
    LEASED 11/28/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,400
    • $1.00
    •  
  • 12497 Mosticone Way Las Vegas, NV 4
    • 4 beds 4 baths ∙ 2,511 Sqft ∙ Built 2018 4 beds 4 baths ∙ 2,511 Sqft ∙ Built 2018
    LEASED 12/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $1.00
    •  
  • 12805 Alcores Las Vegas, NV 5
    • 4 beds 4 baths ∙ 2,517 Sqft ∙ Built 2018 4 beds 4 baths ∙ 2,517 Sqft ∙ Built 2018
    LEASED 06/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,600
    • $1.03
    •  
PROPERTY LISTING DETAILS
Michelle Nook-edmonds
1.702.326.9611
Keller Williams Southern Nevada
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2258762
Last Updated: 01/03/2021
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