Work with a dedicated Real Estate Advisor who will take your financial preferences and help you select and acquire properties that fit your criteria. Learn more

2017 Scarlet Rose Drive Las Vegas, NV 89134

4 Beds 4 Baths 3,128 sqft Built 1996

$725,000

List Price

$2,770

$2.5K - $3K

Rent Est.

PROPERTY INFO

November 08, 2020 RECENTLY ADDED
FACTS
  • Built In 1996
  • Price/Sqft : $231.78
  • 2 Days on Market
  • MLS # : 2246660
  • Updated Date : 11/07/2020 at 19:30
CONSTRUCTION
  • Beds : 4
  • Floor Size : 3,128 sqft
  • Baths : 3 full , 1 half
Listing Agent

Luxury Homes Of Las Vegas

Listing Agent's Description

This STUNNING Christopher 4 bedroom home (with a separate "playroom or office"down stairs) overlooks the beautiful park without giving up any privacy. TOO many upgrades to list. Three fire places, 2 main bedroom closets and balcony from the main bedroom. All bathrooms have been completley remodeled, 2 new AC units, freshly replastered pool and spa, all new SS appliances, hardwood floors, shutters, brand new Garage door opener, plenty of storage, the exterior of the home is freshly painted, Brand new out door BBQ, Central Vaccum and so much more!

SEE MORE

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: The Trails

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320k340k360k380k400kPrice in $119k408k

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

Neighborhood: The Trails

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2110012001300140015001600170018001900Rent in $10761992

* 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
William Lummis Elementary School Primary Regular 555 27 7
Ernest Becker Middle School Middle Regular 1,392 56 NA
Palo Verde High School High Regular 3,024 114 9

William Lummis Elementary School

  • Education Level: Primary
  • # of students: 555
  • # of teachers: 27
7
GreatSchools Rating

Ernest Becker Middle School

  • Education Level: Middle
  • # of students: 1,392
  • # of teachers: 56
NA
GreatSchools Rating

Palo Verde High School

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

$652,500$797,500$725,000

PURCHASE PRICE

$2,493$3,047$2,770

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,770
EXPENSES Loan Payment -$2,675
Property Tax -$448
Property Insurance -$88
Property Management Fees -$119
CASH FLOW
-$559

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.

$725,000

PROJECTED PRICE

$2,770

PROJECTED RENT

0.38%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.05%
Appreciation Year (1-5) 7.6%
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$500k$1.0M$1.5M$2.0M

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$197,875

INVESTMENT

$197,875

Down Payment
$181,250
Rehab Estimate
$5,750
Closing Costs
$10,875

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 60% down payment or higher enables the proceeds from the asset to cover all costs.

$2,675

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $181,250
Loan Amount $543,750
See What Happens When You Reinvest Cash Flow

2.25

YEARS SAVED

$13,014

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,770

    LIST RENT
  • $0.89

    LIST RENT PER SQFT
  • $2,463

    COMP ESTIMATED VALUE
  • $0.79

    COMP AVG. RENT PER SQFT
Comps Range
$2,200
1$2,2002$2,4953$2,5004$2,7605$2,770
$2,770
RENT COMPS ANALYSIS
  • 2017 Scarlet Rose Drive Las Vegas, NV 5
    • 4 beds 4 baths ∙ 3,128 Sqft ∙ Built 1996 4 beds 4 baths ∙ 3,128 Sqft ∙ Built 1996
    • Rent
    • Rent Per SQFT
    •  
    • $2,770
    • $0.89
    •  
  • 2024 Spring Rose Street Las Vegas, NV 1
    • 4 beds 4 baths ∙ 3,231 Sqft ∙ Built 2000 4 beds 4 baths ∙ 3,231 Sqft ∙ Built 2000
    LEASED 05/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $0.68
    •  
  • 2109 Scarlet Rose Drive Las Vegas, NV 2
    • 3 beds 3 baths ∙ 2,934 Sqft ∙ Built 1997 3 beds 3 baths ∙ 2,934 Sqft ∙ Built 1997
    LEASED 07/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,495
    • $0.85
    •  
  • 2008 Faywood Street Las Vegas, NV 3
    • 5 beds 3 baths ∙ 3,260 Sqft ∙ Built 1996 5 beds 3 baths ∙ 3,260 Sqft ∙ Built 1996
    LEASED 06/25/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $0.77
    •  
  • 2217 Timber Rose Drive Las Vegas, NV 4
    • 4 beds 4 baths ∙ 3,231 Sqft ∙ Built 2000 4 beds 4 baths ∙ 3,231 Sqft ∙ Built 2000
    LEASED 01/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,760
    • $0.85
    •  
PROPERTY LISTING DETAILS
Roseanne C Luera
1.702.406.1910
Luxury Homes Of Las Vegas
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2246660
Last Updated: 11/07/2020
BESbswy