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2006 Country Cove Court Las Vegas, NV 89135

4 Beds 4 Baths 4,107 sqft Built 2005

$1,350,000

List Price

$5,010

$4.8K - $5.3K

Rent Est.

PROPERTY INFO

February 03, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2005
  • Price/Sqft : $328.71
  • 7 Days on Market
  • MLS # : 2264801
  • Updated Date : 02/03/2021 at 10:30
CONSTRUCTION
  • Beds : 4
  • Floor Size : 4,107 sqft
  • Baths : 3 full , 1 half
Listing Agent

Fathom Realty

Listing Agent's Description

New quality two tone paint throughout whole house. New 5” floorboard installed throughout the whole home. VIEWS! Enjoy the this gated community of RED ROCK COUNTRY CLUB. Cute windowed courtyard, theater room and more. Come and see this gorgeous open floor plan. No homes across from you, enjoy the mountain unobstructed view and golf course view in the back. Enjoy watching the fireworks on holidays from your backyard pool and spa.

SEE MORE

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: Red Rock Country Club at Summerlin

NeighborhoodNIR Market*CityMarket2010Year20002019200k300k400k500k600k700k800k900k1000kPrice in $119k1065k

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

Neighborhood: Red Rock Country Club at Summerlin

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21500200025003000350040004500Rent in $10764918

* 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
Judy And John Goolsby Elementary School Primary Regular 807 42 10
Victoria Fertitta Middle School Middle Regular 1,472 60 NA
Palo Verde High School High Regular 3,024 114 9

Judy And John Goolsby Elementary School

  • Education Level: Primary
  • # of students: 807
  • # of teachers: 42
10
GreatSchools Rating

Victoria Fertitta Middle School

  • Education Level: Middle
  • # of students: 1,472
  • # of teachers: 60
NA
GreatSchools Rating

Palo Verde High School

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

$1,215,000$1,485,000$1,350,000

PURCHASE PRICE

$4,509$5,511$5,010

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $5,010
EXPENSES Loan Payment -$4,689
Property Tax -$846
Property Insurance -$107
Property Management Fees -$119
CASH FLOW
-$751

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.

$1,350,000

PROJECTED PRICE

$5,010

PROJECTED RENT

0.37%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.75%
Appreciation Year (1-5) 4.3%
Maintenance Year (1-5) 8.00%
Vacancy 7.56%
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$2.5M$3.0M$3.5M

PROJECTED ANNUAL CASH FLOW

11530-$20k-$10k$0.0$10k$20k$30k$40k$50k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$500k$1.0M$1.5M$2.0M$2.5M$3.0M$3.5M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$363,500

INVESTMENT

$363,500

Down Payment
$337,500
Rehab Estimate
$5,750
Closing Costs
$20,250

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$4,689

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $337,500
Loan Amount $1,012,500
See What Happens When You Reinvest Cash Flow

3.42

YEARS SAVED

$40,325

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $5,010

    LIST RENT
  • $1.22

    LIST RENT PER SQFT
  • $4,364

    COMP ESTIMATED VALUE
  • $1.06

    COMP AVG. RENT PER SQFT
Comps Range
$4,100
1$4,1002$4,2003$4,7004$4,9505$5,010
$5,010
RENT COMPS ANALYSIS
  • 2006 Country Cove Court Las Vegas, NV 5
    • 4 beds 4 baths ∙ 4,107 Sqft ∙ Built 2005 4 beds 4 baths ∙ 4,107 Sqft ∙ Built 2005
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $5,010
    • $1.22
    •  
  • 11735 Glowing Sunset Lane Las Vegas, NV 1
    • 4 beds 5 baths ∙ 4,391 Sqft ∙ Built 2003 4 beds 5 baths ∙ 4,391 Sqft ∙ Built 2003
    property image
    LEASED 03/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $4,100
    • $0.93
    •  
  • 2198 Country Cove Court Las Vegas, NV 2
    • 4 beds 4 baths ∙ 4,124 Sqft ∙ Built 2005 4 beds 4 baths ∙ 4,124 Sqft ∙ Built 2005
    property image
    LEASED 12/27/19
    • Rent
    • Rent Per SQFT
    •  
    • $4,200
    • $1.02
    •  
  • 2032 Country Cove Court Las Vegas, NV 3
    • 4 beds 4 baths ∙ 4,107 Sqft ∙ Built 2005 4 beds 4 baths ∙ 4,107 Sqft ∙ Built 2005
    property image
    LEASED 10/05/19
    • Rent
    • Rent Per SQFT
    •  
    • $4,700
    • $1.14
    •  
  • 2022 Country Cove Court Las Vegas, NV 4
    • 4 beds 4 baths ∙ 4,274 Sqft ∙ Built 2005 4 beds 4 baths ∙ 4,274 Sqft ∙ Built 2005
    property image
    LEASED 12/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $4,950
    • $1.16
    •  
PROPERTY LISTING DETAILS
Linda Wilks
1.623.521.2334
Fathom Realty
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2264801
Last Updated: 02/03/2021
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