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2030 Marina Bay Court Las Vegas, NV 89117

4 Beds 6 Baths 4,899 sqft Built 1993

$1,250,000

List Price

$4,560

$4.3K - $4.8K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 05, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1993
  • Price/Sqft : $255.15
  • 3 Days on Market
  • MLS # : 2274263
  • Updated Date : 03/07/2021 at 04:33
CONSTRUCTION
  • Beds : 4
  • Floor Size : 4,899 sqft
  • Baths : 4 full , 2 half
Listing Agent

All Vegas Valley Realty

Listing Agent's Description

Entertainer's/Chef's delight on over a half acre lot in PRISTINE CONDITION! Enter through a cozy courtyard. SOARING 10' or greater ceilings!! A GOURMET kitchen/great room to die for: Featuring a Sub-zero frig, Double Thermador ovens electric, Induction Wolf cooktop components. Want to work remotely? HUGE den/office will allow for that. Plantation shutters throughout, surround sound. Primary bedroom/bath features steam shower w/rain showerhead and jacuzzi tub. All secondary bedrooms are EN-SUITE. Enter the OASIS/DREAMY/TROPICAL backyard from four different locations - once you're there you're never going to leave! SPARKLING solar heated pool w/fountain - great place to watch the game from the outdoor TV! Outdoor chef's kitchen featuring grill w/warming drawer, EVO griddle, Alfresco pizza oven, Lynx power burner, True fridge drawers, and A LOT MORE! Gather around the custom fire pit table and enjoy the evening. Mature landscaping including citrus trees!!

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: Canyon Gate

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320k340k360k380kPrice in $119k384k

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

Neighborhood: Canyon Gate

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21100120013001400150016001700180019002000Rent in $10762045

* 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
Herbert A. Derfelt Elementary School Primary Regular 699 34 6
Walter Johnson Junior High School Middle Regular 1,102 50 NA
Bonanza High School High Regular 2,003 83 3

Herbert A. Derfelt Elementary School

  • Education Level: Primary
  • # of students: 699
  • # of teachers: 34
6
GreatSchools Rating

Walter Johnson Junior High School

  • Education Level: Middle
  • # of students: 1,102
  • # of teachers: 50
NA
GreatSchools Rating

Bonanza High School

  • Education Level: High
  • # of students: 2,003
  • # of teachers: 83
3
GreatSchools Rating
 

$1,125,000$1,375,000$1,250,000

PURCHASE PRICE

$4,104$5,016$4,560

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $4,560
EXPENSES Loan Payment -$4,342
Property Tax -$805
Property Insurance -$122
Property Management Fees -$119
CASH FLOW
-$828

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.

$1,250,000

PROJECTED PRICE

$4,560

PROJECTED RENT

0.36%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.96%
Appreciation Year (1-5) 7.4%
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$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

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$337,000

INVESTMENT

$337,000

Down Payment
$312,500
Rehab Estimate
$5,750
Closing Costs
$18,750

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$4,342

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $312,500
Loan Amount $937,500
See What Happens When You Reinvest Cash Flow

2.33

YEARS SAVED

$20,117

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $4,560

    LIST RENT
  • $0.93

    LIST RENT PER SQFT
  • $5,193

    COMP ESTIMATED VALUE
  • $1.06

    COMP AVG. RENT PER SQFT
Comps Range
$4,560
1$4,5602$5,1003$5,300
$5,300
RENT COMPS ANALYSIS
  • 2030 Marina Bay Court Las Vegas, NV 1
    • 4 beds 6 baths ∙ 4,899 Sqft ∙ Built 1993 4 beds 6 baths ∙ 4,899 Sqft ∙ Built 1993
    • Rent
    • Rent Per SQFT
    •  
    • $4,560
    • $0.93
    •  
  • 1680 City View Court Las Vegas, NV 2
    • 4 beds 6 baths ∙ 4,863 Sqft ∙ Built 1993 4 beds 6 baths ∙ 4,863 Sqft ∙ Built 1993
    LEASED 03/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $5,100
    • $1.05
    •  
  • 1710 Songlight Las Vegas, NV 3
    • 4 beds 5 baths ∙ 4,963 Sqft ∙ Built 2004 4 beds 5 baths ∙ 4,963 Sqft ∙ Built 2004
    LEASED 07/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $5,300
    • $1.07
    •  
PROPERTY LISTING DETAILS
Allan Herman
1.702.274.4430
All Vegas Valley Realty
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2274263
Last Updated: 03/07/2021
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