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PROPERTY INFO
FACTS
- Single Family
- Built In 2004
- Price/Sqft : $317.10
- 9 Days on Market
- MLS # : 2246376
- Updated Date : 11/10/2020 at 13:23
CONSTRUCTION
- Beds : 5
- Floor Size : 4,257 sqft
- Baths : 3 full , 1 half
Listing Agent
Red Rock Real Estate
Listing Agent's Description
**SEE THE PHOTOS!!** SPECTACULAR GOLF COURSE AND MOUNTAIN VIEWS FROM THIS NICELY SITUATED CUL DE SAC LOT IN RED ROCK COUNTRY CLUB! NEW QUARTZ COUNTERS, HUGE KITCHEN ISLAND, TONS OF STAINLESS STEEL KITCHEN APPLIANCES (BUILT IN WINE FRIDGE, WARMING DRAWER, TRASH COMPACTOR, MULTIPLE OVENS, HUGE 6 BURNER GAS RANGE, POT FILLER, ETC). CEILING FANS THROUGHOUT, ARCHED INTERIOR DOORS (A $12,000 TOLL BROTHER UPGRADE), MULTIPLE COVERED BALCONIES, AND THREE FIREPLACES! AMAZING INTERIOR COURTYARD W/ FIREPLACE! GREAT FOR ENTERTAINING! AMAZING SPACIOUS OPEN FLOOR PLAN HERE! 5 BEDROOMS PLUS THEATRE ROOM! SPARKLING POOL/SPA WITH GORGEOUS GOLF COURSE/ MOUNTAIN VIEWS & BUILT IN BBQ. BACK YARD HAS GATE TO GOLF COURSE. NEW MODERN GRAY/WHITE PAINT THROUGHOUT. 2X6 CONSTRUCTION ADDS ADDITIONAL INSULATION. MULTIPLE WATER TREATMENT SYSTEMS. SOLAR PANELS INSTALLED 9/2017 ARE PAID IN FULL. OWNER PAYS APROXIMATELY $13 A MONTH IN POWER BILLS! AMAZING FLEXIBLE FLOOR PLAN. SO MANY UPGRADES! COME SEE!
SEE MORE
- 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: Red Rock Country Club at Summerlin
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: Red Rock Country Club at Summerlin
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $4,740 |
| EXPENSES | Loan Payment | -$4,981 |
| Property Tax | -$854 | |
| Property Insurance | -$110 | |
| Property Management Fees | -$119 | |
|
CASH FLOW
-$1,323
|
||
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.
$1,349,900
PROJECTED PRICE
$4,740
PROJECTED RENT
0.35%
PROJECTED RENT / PRICE RATIO
| 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
PROJECTED ANNUAL CASH FLOW
PROJECTED PROPERTY VALUE
30 YEAR PROJECTION
- Appreciation
- Principal
- Loan Balance
TOTAL CASH OUT OF POCKET
INVESTMENT
$363,474
LOAN DETAILS
$4,981
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 4.25% |
| Down Payment | $337,475 |
| Loan Amount | $1,012,425 |
1.58
YEARS SAVED
$15,917
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$4,740
LIST RENT -
$1.11
LIST RENT PER SQFT
-
$4,693
COMP ESTIMATED VALUE -
$1.1
COMP AVG. RENT PER SQFT
Comps Range
-
2117 Orchard Mist Street Las Vegas, NV 3
- 5 beds 4 baths ∙ 4,257 Sqft ∙ Built 2004 5 beds 4 baths ∙ 4,257 Sqft ∙ Built 2004
- Rent
- Rent Per SQFT
- $4,740
- $1.11
-
2198 Country Cove Court Las Vegas, NV 1
- 4 beds 4 baths ∙ 4,124 Sqft ∙ Built 2005 4 beds 4 baths ∙ 4,124 Sqft ∙ Built 2005
LEASED 12/27/19- Rent
- Rent Per SQFT
- $4,200
- $1.02
-
2032 Country Cove Court Las Vegas, NV 2
- 4 beds 4 baths ∙ 4,107 Sqft ∙ Built 2005 4 beds 4 baths ∙ 4,107 Sqft ∙ Built 2005
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
LEASED 11/01/20- Rent
- Rent Per SQFT
- $4,950
- $1.16
-
2125 Alcova Ridge Drive Las Vegas, NV 5
- 4 beds 6 baths ∙ 4,577 Sqft ∙ Built 2006 4 beds 6 baths ∙ 4,577 Sqft ∙ Built 2006
LEASED 08/06/20- Rent
- Rent Per SQFT
- $4,995
- $1.09
PROPERTY LISTING DETAILS
1.702.596.8276
Red Rock Real Estate
1.866.250.5610
Mynd Property Management
1453579
MLS #: 2246376
Last Updated: 11/10/2020
