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1649 Rowan Tree Drive Las Vegas, NV 89123

4 Beds 2 Baths 1,912 sqft Built 1989

$379,900

List Price

$1,890

$1.7K - $2.1K

Rent Est.

PROPERTY INFO

January 14, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1989
  • Price/Sqft : $198.69
  • 5 Days on Market
  • MLS # : 2261410
  • Updated Date : 01/16/2021 at 17:51
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,912 sqft
  • Baths : 2 full
Listing Agent

Exp Realty

Listing Agent's Description

Located in SE Las Vegas, this single story home with pool and spa has a large backyard area. 4 Bedrooms. Formal Living and Dining area. Kitchen opens to an expansive family room with fireplace. Large master and secondary bedrooms. Custom shutters thru out. New Carpet and Paint.

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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)

PRICE & RENT TRENDS

Neighborhood: Paradise

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280kPrice in $112k296k

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

Neighborhood: Paradise

NeighborhoodNIR Market*CityMarket2010Year20002019 Q211001150120012501300135014001450150015501600Rent in $10761606

* 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
Louis Wiener Jr Elementary School Primary Regular 701 39 7
Jack L. Schofield Middle School Middle Regular 1,332 51 NA
Silverado High School High Regular 2,263 94 5

Louis Wiener Jr Elementary School

  • Education Level: Primary
  • # of students: 701
  • # of teachers: 39
7
GreatSchools Rating

Jack L. Schofield Middle School

  • Education Level: Middle
  • # of students: 1,332
  • # of teachers: 51
NA
GreatSchools Rating

Silverado High School

  • Education Level: High
  • # of students: 2,263
  • # of teachers: 94
5
GreatSchools Rating
 

$341,910$417,890$379,900

PURCHASE PRICE

$1,701$2,079$1,890

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,890
EXPENSES Loan Payment -$1,320
Property Tax -$206
Property Insurance -$64
Property Management Fees -$119
CASH FLOW
$181

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.

$379,900

PROJECTED PRICE

$1,890

PROJECTED RENT

0.50%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.96%
Appreciation Year (1-5) 9.4%
Maintenance Year (1-5) 8.00%
Vacancy 7.63%
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

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$106,424

INVESTMENT

$106,424

Down Payment
$94,975
Rehab Estimate
$5,750
Closing Costs
$5,699

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 40% down payment or higher enables the proceeds from the asset to cover all costs.

$1,320

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $94,975
Loan Amount $284,925
See What Happens When You Reinvest Cash Flow

8.42

YEARS SAVED

$42,690

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,890

    LIST RENT
  • $0.99

    LIST RENT PER SQFT
  • $1,855

    COMP ESTIMATED VALUE
  • $0.97

    COMP AVG. RENT PER SQFT
Comps Range
$1,700
1$1,7002$1,7953$1,7954$1,8905$2,000
$2,000
RENT COMPS ANALYSIS
  • 1649 Rowan Tree Drive Las Vegas, NV 4
    • 4 beds 2 baths ∙ 1,912 Sqft ∙ Built 1989 4 beds 2 baths ∙ 1,912 Sqft ∙ Built 1989
    • Rent
    • Rent Per SQFT
    •  
    • $1,890
    • $0.99
    •  
  • 7976 Hackberry Drive Las Vegas, NV 1
    • 3 beds 2 baths ∙ 1,723 Sqft ∙ Built 1988 3 beds 2 baths ∙ 1,723 Sqft ∙ Built 1988
    LEASED 10/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $0.99
    •  
  • 1712 Crystal Downs Avenue Las Vegas, NV 2
    • 3 beds 3 baths ∙ 2,034 Sqft ∙ Built 1998 3 beds 3 baths ∙ 2,034 Sqft ∙ Built 1998
    LEASED 01/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,795
    • $0.88
    •  
  • 1572 Yellowwood Drive Las Vegas, NV 3
    • 3 beds 2 baths ∙ 1,877 Sqft ∙ Built 1989 3 beds 2 baths ∙ 1,877 Sqft ∙ Built 1989
    LEASED 07/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,795
    • $0.96
    •  
  • 8020 Winterberry Las Vegas, NV 5
    • 4 beds 2 baths ∙ 1,900 Sqft ∙ Built 1988 4 beds 2 baths ∙ 1,900 Sqft ∙ Built 1988
    LEASED 04/26/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $1.05
    •  
PROPERTY LISTING DETAILS
Joe Paul May
1.702.491.9601
Exp Realty
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2261410
Last Updated: 01/16/2021
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