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2129 Sierra Heights Drive Las Vegas, NV 89134

3 Beds 3 Baths 2,102 sqft Built 1999

$699,000

List Price

$1,920

$1.7K - $2.1K

Rent Est.

PROPERTY INFO

January 23, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1999
  • Price/Sqft : $332.54
  • 3 Days on Market
  • MLS # : 2263422
  • Updated Date : 01/23/2021 at 05:30
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,102 sqft
  • Baths : 3 full
Listing Agent

Galindo Group Real Estate

Listing Agent's Description

Absolutely Stunning Golf Course Property tucked at the top of Sun City Summerlin! Completely renovated with jaw dropping golf course, lake and mountains views- ready for your buyers to soak up and enjoy! Open concept floor plan with a formal dining area and custom chevron laid shiplap fireplace feature accented w a natural wood mantle. Kitchen offers new white shaker cabinets, custom wrapped hood, professional grade appliances, quartz counters, and a butcher block prep island. Owners suite features a highly designed dual shower head w wand, floating bench, and frameless glass, dual vanities, and a walk in closet. Views of the golf course can be enjoyed from the owner suite as well. Backyard with a covered patio and built in bbq for easy entertaining as you enjoy your views! This one of a kind property won't last!

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: Sun City Summerlin

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320kPrice in $119k328k

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

Neighborhood: Sun City Summerlin

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21100115012001250130013501400145015001550160016501700Rent in $10671706

* 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
Ethel W. Staton Elementary School Primary Regular 880 45 9
Sig Rogich Middle School Middle Regular 1,845 70 NA
Palo Verde High School High Regular 3,024 114 9

Ethel W. Staton Elementary School

  • Education Level: Primary
  • # of students: 880
  • # of teachers: 45
9
GreatSchools Rating

Sig Rogich Middle School

  • Education Level: Middle
  • # of students: 1,845
  • # of teachers: 70
NA
GreatSchools Rating

Palo Verde High School

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

$629,100$768,900$699,000

PURCHASE PRICE

$1,728$2,112$1,920

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,920
EXPENSES Loan Payment -$2,428
Property Tax -$383
Property Insurance -$68
Property Management Fees -$119
CASH FLOW
-$1,078

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.

$699,000

PROJECTED PRICE

$1,920

PROJECTED RENT

0.27%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.96%
Appreciation Year (1-5) 9.1%
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

PROJECTED ANNUAL CASH FLOW

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

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$190,985

INVESTMENT

$190,985

Down Payment
$174,750
Rehab Estimate
$5,750
Closing Costs
$10,485

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 75% down payment or higher enables the proceeds from the asset to cover all costs.

$2,428

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $174,750
Loan Amount $524,250
See What Happens When You Reinvest Cash Flow

0.17

YEARS SAVED

$74

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,920

    LIST RENT
  • $0.91

    LIST RENT PER SQFT
  • $1,944

    COMP ESTIMATED VALUE
  • $0.93

    COMP AVG. RENT PER SQFT
Comps Range
$1,800
1$1,8002$1,8503$1,9204$1,9505$2,300
$2,300
RENT COMPS ANALYSIS
  • 2129 Sierra Heights Drive Las Vegas, NV 3
    • 3 beds 3 baths ∙ 2,102 Sqft ∙ Built 1999 3 beds 3 baths ∙ 2,102 Sqft ∙ Built 1999
    • Rent
    • Rent Per SQFT
    •  
    • $1,920
    • $0.91
    •  
  • 10400 Horseback Ridge Avenue Las Vegas, NV 1
    • 4 beds 3 baths ∙ 1,930 Sqft ∙ Built 1997 4 beds 3 baths ∙ 1,930 Sqft ∙ Built 1997
    LEASED 03/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $0.93
    •  
  • 1913 Verbania Drive Las Vegas, NV 2
    • 4 beds 3 baths ∙ 2,095 Sqft ∙ Built 1999 4 beds 3 baths ∙ 2,095 Sqft ∙ Built 1999
    LEASED 09/26/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $0.88
    •  
  • 2033 Nightrider Drive #- Las Vegas, NV 4
    • 3 beds 3 baths ∙ 2,188 Sqft ∙ Built 1997 3 beds 3 baths ∙ 2,188 Sqft ∙ Built 1997
    LEASED 05/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $0.89
    •  
  • 10128 Cypress Glen Avenue Las Vegas, NV 5
    • 4 beds 3 baths ∙ 2,292 Sqft ∙ Built 1996 4 beds 3 baths ∙ 2,292 Sqft ∙ Built 1996
    LEASED 09/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $1.00
    •  
PROPERTY LISTING DETAILS
Joshua F Galindo
1.702.575.4992
Galindo Group Real Estate
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2263422
Last Updated: 01/23/2021
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