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2380 Lilac Cove Street Las Vegas, NV 89135

3 Beds 3 Baths 1,488 sqft Built 2002

$345,000

List Price

$1,650

$1.5K - $1.8K

Rent Est.

PROPERTY INFO

January 08, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2002
  • Price/Sqft : $231.85
  • 4 Days on Market
  • MLS # : 2259266
  • Updated Date : 01/08/2021 at 16:03
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,488 sqft
  • Baths : 2 full , 1 half
Listing Agent

Signature Real Estate Group

Listing Agent's Description

PRIME SUMMERLIN LOCATION! MOUNTAIN AND NEIGHBORHOOD PARK VIEWS. FORMER MODEL HOME WITH LARGE BACKYARD AND LUSH GRASS LANDSCAPE INCLUDING BOX GARDEN. ISLAND KITCHEN COMES COMPLETE WITH ALL APPLIANCES. 3 BEDROOM PLUS LOFT. TANDEM TWO CAR GARAGE WITH BUILT IN STORAGE SHELVING. NEW PAINT. THE OWNERS HAVE METICULOUSLY MAINTAINED THIS GORGEOUS HOME.

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: Summerlin Centre

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320k340k360kPrice in $119k380k

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

Neighborhood: Summerlin Centre

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21100120013001400150016001700180019002000Rent in $10762040

* 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
D'voree And Hall Ober Elementary School Primary Regular 669 39 8
Sig Rogich Middle School Middle Regular 1,845 70 NA
Palo Verde High School High Regular 3,024 114 9

D'voree And Hall Ober Elementary School

  • Education Level: Primary
  • # of students: 669
  • # of teachers: 39
8
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
 

$310,500$379,500$345,000

PURCHASE PRICE

$1,485$1,815$1,650

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,650
EXPENSES Loan Payment -$1,198
Property Tax -$204
Property Insurance -$56
Property Management Fees -$119
CASH FLOW
$73

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.

$345,000

PROJECTED PRICE

$1,650

PROJECTED RENT

0.48%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.05%
Appreciation Year (1-5) 8.0%
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$200k$400k$600k$800k$1.0M$1.2M

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$97,175

INVESTMENT

$97,175

Down Payment
$86,250
Rehab Estimate
$5,750
Closing Costs
$5,175

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 45% down payment or higher enables the proceeds from the asset to cover all costs.

$1,198

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $86,250
Loan Amount $258,750
See What Happens When You Reinvest Cash Flow

7.17

YEARS SAVED

$30,023

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,650

    LIST RENT
  • $1.11

    LIST RENT PER SQFT
  • $1,641

    COMP ESTIMATED VALUE
  • $1.1

    COMP AVG. RENT PER SQFT
Comps Range
$1,650
1$1,6502$1,6503$1,6504$1,6505$1,700
$1,700
RENT COMPS ANALYSIS
  • 2380 Lilac Cove Street Las Vegas, NV 4
    • 3 beds 3 baths ∙ 1,488 Sqft ∙ Built 2002 3 beds 3 baths ∙ 1,488 Sqft ∙ Built 2002
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $1.11
    •  
  • 10656 Foggy Glen Avenue Las Vegas, NV 1
    • 3 beds 2 baths ∙ 1,469 Sqft ∙ Built 2003 3 beds 2 baths ∙ 1,469 Sqft ∙ Built 2003
    LEASED 05/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $1.12
    •  
  • 10667 April Rose Court Las Vegas, NV 2
    • 3 beds 2 baths ∙ 1,469 Sqft ∙ Built 2003 3 beds 2 baths ∙ 1,469 Sqft ∙ Built 2003
    LEASED 08/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $1.12
    •  
  • 10668 Foggy Glen Avenue Las Vegas, NV 3
    • 3 beds 3 baths ∙ 1,488 Sqft ∙ Built 2003 3 beds 3 baths ∙ 1,488 Sqft ∙ Built 2003
    LEASED 12/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $1.11
    •  
  • 2611 Cottonwillow Street Las Vegas, NV 5
    • 3 beds 3 baths ∙ 1,598 Sqft ∙ Built 2001 3 beds 3 baths ∙ 1,598 Sqft ∙ Built 2001
    LEASED 11/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $1.06
    •  
PROPERTY LISTING DETAILS
Angela Reed
1.702.372.3783
Signature Real Estate Group
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2259266
Last Updated: 01/08/2021
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