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152 Welland Court Las Vegas, NV 89144

4 Beds 3 Baths 2,481 sqft Built 2000

$490,000

List Price

$2,270

$2K - $2.5K

Rent Est.

PROPERTY INFO

February 13, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2000
  • Price/Sqft : $197.50
  • 2 Days on Market
  • MLS # : 2269968
  • Updated Date : 02/13/2021 at 16:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,481 sqft
  • Baths : 2 full , 1 half
Listing Agent

Resolution Realty

Listing Agent's Description

*FANTASTIC LOCATION IN THE HEART OF SUMMERLIN WITH AREA PARKS AND WALKING TRAILS! QUIET CUL-DE-SAC LOCATION ON NEARLY QUARTER OF AN ACRE RAISED LOT W/LANDSCAPE BOTH FRONT/BACK~PARKLIKE BACKYARD W/COVERED PATIO AND GREAT SPACE FOR ENTERTAINING*FORMAL LIVING ROOM AND DINING ROOM UPON ENTRY W/ BEAUTIFUL TILE THROUGHOUT HIGH TRAFFIC AREAS DOWNSTAIRS*STUNNING KITCHEN FEATURES STAINLESS APPLIANCES/GRANITE COUNTERS/ISLAND/BACKSPLASH AND STUNNING DARK WOOD CABINETS*AWESOME SPACE FOR BREAKFAST NOOK/INFORMAL DINING AREA AND OPEN TO SPACIOUS FAMILY ROOM W/FIREPLACE*PLUSH CARPET TAKES YOU UPSTAIRS WHERE YOU'LL FIND ALL BEDROOMS THAT ARE SPACIOUS!*FABULOUS PRIMARY BEDROOM HAS SITTING AREA/HIGH CEILINGS*PRIMARY BATHROOM W/ HIS & HER'S WALK-IN CLOSETS/SEP. TUB & AND SHOWER/DBL VANITIES*RAISED PANEL DOORS/BASE BOARDS/BLINDS/CEILING FANS THROUGHOUT*ZONED FOR TOP RATED SCHOOLS IN CLARK COUNTY & ARE WITHIN WALKING DISTANCE*NEW AC UNITS AND WATER HEATER*THANKS FOR SHOWING THIS AMAZING HOME*

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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: The Arbors

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320k340k360kPrice in $119k362k

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

Neighborhood: The Arbors

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
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
 

$441,000$539,000$490,000

PURCHASE PRICE

$2,043$2,497$2,270

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,270
EXPENSES Loan Payment -$1,702
Property Tax -$299
Property Insurance -$75
Property Management Fees -$119
CASH FLOW
$74

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.

$490,000

PROJECTED PRICE

$2,270

PROJECTED RENT

0.46%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.05%
Appreciation Year (1-5) 9.0%
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$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$135,600

INVESTMENT

$135,600

Down Payment
$122,500
Rehab Estimate
$5,750
Closing Costs
$7,350

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 45% down payment or higher enables the proceeds from the asset to cover all costs.

$1,702

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $122,500
Loan Amount $367,500
See What Happens When You Reinvest Cash Flow

6.67

YEARS SAVED

$39,590

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,270

    LIST RENT
  • $0.91

    LIST RENT PER SQFT
  • $2,369

    COMP ESTIMATED VALUE
  • $0.96

    COMP AVG. RENT PER SQFT
Comps Range
$2,000
1$2,0002$2,1003$2,2704$2,3005$2,750
$2,750
RENT COMPS ANALYSIS
  • 152 Welland Court Las Vegas, NV 3
    • 4 beds 3 baths ∙ 2,481 Sqft ∙ Built 2000 4 beds 3 baths ∙ 2,481 Sqft ∙ Built 2000
    • Rent
    • Rent Per SQFT
    •  
    • $2,270
    • $0.91
    •  
  • 236 Emerald Vista Way Las Vegas, NV 1
    • 4 beds 3 baths ∙ 2,360 Sqft ∙ Built 2000 4 beds 3 baths ∙ 2,360 Sqft ∙ Built 2000
    LEASED 05/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $0.85
    •  
  • 10713 Turquoise Valley Drive #0 Las Vegas, NV 2
    • 3 beds 3 baths ∙ 2,359 Sqft ∙ Built 2000 3 beds 3 baths ∙ 2,359 Sqft ∙ Built 2000
    LEASED 06/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $0.89
    •  
  • 204 Summer Palace Way Las Vegas, NV 4
    • 4 beds 3 baths ∙ 2,359 Sqft ∙ Built 2000 4 beds 3 baths ∙ 2,359 Sqft ∙ Built 2000
    LEASED 12/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $0.97
    •  
  • 156 Welland Court Las Vegas, NV 5
    • 4 beds 2 baths ∙ 2,481 Sqft ∙ Built 1999 4 beds 2 baths ∙ 2,481 Sqft ∙ Built 1999
    LEASED 04/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,750
    • $1.11
    •  
PROPERTY LISTING DETAILS
Ehren Alessi
1.702.800.5054
Resolution Realty
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2269968
Last Updated: 02/13/2021
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