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2400 Sungold Drive Las Vegas, NV 89134

2 Beds 1 Baths 2,486 sqft Built 1990

INVESTimate

$550,000

List Price

$2,500

$2,250 - $2,750

Rent Est.

$599,775  ( +9.05%)   1 YR EST. FORECAST

PROPERTY INFO

August 25, 2020 RECENTLY ADDED
FACTS
  • Built In 1990
  • Price/Sqft : $221.24
  • 3 Days on Market
  • MLS # : 2222869
  • Updated Date : 08/24/2020 at 21:30
CONSTRUCTION
  • Beds : 2
  • Floor Size : 2,486 sqft
  • Baths : 1 full
Listing Agent

Great Homes Las Vegas, Inc.

Listing Agent's Description

Sun City Summerlin Santa Paula model, with RARE detached Casita (761 sq ft apprx) on beautifully maintained .44 acre culdesac lot. 2 BR plus Den with built-in bookcases. Spacious kitchen, sub-zero fridge, corian counters, stainless appliances, dual drawer DW, breakfast bar, desk with overhead glass cabinet doors. Plantation Shutters, 2 FP's, in FR & LR Open the exterior French Doors in the MBR & listen to the flowing fountain outdoors. Casita includes 1 BR, walk-in closet, 3/4 BA, Liv Room & Bonus Room plus indoor spa. Newer Furnace, A/C units & Hot Water Heater. Swamp Cooler. Enjoy this perfectly maintained park like backyard oasis everyday of your life! Large covered patio with mister system, built-in Turbo BBQ/Heat Plate/Gas Stove , plus ext semi-covered patio with patio. Putting Green. Located in the Heart of Del Webbs's 55+ Age Active Community which includes 4 Rec Centers, pools, spas, fitness centers, Star Bright Theater, 3 golf courses & numerous other amenities & clubs

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • As the largest share, Las Vegas metro contributes to 75.1% of Nevada state's economy i.e. Gross State Product (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
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
 

$495,000$605,000$550,000

PURCHASE PRICE

$2,250$2,750$2,500

RENT

DOWN PAYMENT
FINANCING

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M$1.6M$1.8M

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,500
EXPENSES Loan Payment -$2,029
Property Tax -$385
Property Insurance -$75
Property Management Fees -$119
CASH FLOW
-$109

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.

$550,000

PROJECTED PRICE

$2,500

PROJECTED RENT

0.45%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.96%
Appreciation Year (1-5) 9.05%
Maintenance Year (1-5) 8.00%
Vacancy 7.63%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$151,500

INVESTMENT

$151,500

Down Payment
$137,500
Rehab Estimate
$5,750
Closing Costs
$8,250

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 50% down payment or higher enables the proceeds from the asset to cover all costs.

$2,029

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $137,500
Loan Amount $412,500
See What Happens When You Reinvest Cash Flow

4.92

YEARS SAVED

$32,524

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $0

    LIST RENT
  • $0

    LIST RENT PER SQFT
  • $2,967

    COMP ESTIMATED VALUE
  • $1.19

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$2,1003$2,9504$3,500
$3,500
RENT COMPS ANALYSIS
  • 2400 Sungold Drive Las Vegas, NV 1
    • 2 beds 1 baths ∙ 2,486 Sqft ∙ Built 1990 2 beds 1 baths ∙ 2,486 Sqft ∙ Built 1990
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 2912 Haddon Drive #0 Las Vegas, NV 2
    • 2 beds 1 baths ∙ 2,486 Sqft ∙ Built 1992 2 beds 1 baths ∙ 2,486 Sqft ∙ Built 1992
    LEASED 02/27/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $0.84
    •  
  • 3108 Highland Falls Drive Las Vegas, NV 3
    • 2 beds 2 baths ∙ 2,210 Sqft ∙ Built 1997 2 beds 2 baths ∙ 2,210 Sqft ∙ Built 1997
    LEASED 01/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,950
    • $1.33
    •  
  • 9413 Eagle Valley Drive Las Vegas, NV 4
    • 2 beds 1 baths ∙ 2,486 Sqft ∙ Built 1990 2 beds 1 baths ∙ 2,486 Sqft ∙ Built 1990
    LEASED 02/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,500
    • $1.41
    •  
PROPERTY LISTING DETAILS
Judy D Cochran
1.702.371.8658
Great Homes Las Vegas, Inc.
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2222869
Last Updated: 08/24/2020
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