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2481 Hollow Rock Court Las Vegas, NV 89135

3 Beds 3 Baths 2,712 sqft Built 1999

$859,800

List Price

$3,280

$3K - $3.5K

Rent Est.

PROPERTY INFO

December 12, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1999
  • Price/Sqft : $317.04
  • 3 Days on Market
  • MLS # : 2255055
  • Updated Date : 12/12/2020 at 11:19
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,712 sqft
  • Baths : 2 full , 1 half
Listing Agent

Award Realty

Listing Agent's Description

PRESTIGIOUS GUARD GATED RED ROCK COUNTRY CLUB * LUXURY REMODEL BARGAIN AT ONLY 859K* GREAT ROOM WITH A SEAMLESS TRANSITION TO KITCHEN, FAMILY ROOM, DINING ROOM, LIVING ROOM AND FAMILY ROOM, CREATING A SUPERB GREAT ROOM. . * KITCHEN WITH ADDED NEW CENTER ISLAND ,STAINLESS STEEL APPLIANCES AND QUARTZ COUNTERS * NEW FIREPLACE * SEPARATE MAIN SUITE WITH CUSTOM WALK IN CLOSET * MAIN BATH WITH NEW EXTENDED SPACIOUS SHOWER * QUARTZ COUNTERS * TWO SECONDARY BEDROOMS EN SUITES SEPARATED BY A DEN. COURTYARD GATED ENTRY. VERY PRIVATE BACKYARD WITH MATURE LANDSCAPING * CULDESAC * RED ROCK COUNTRY CLUB'S LOCATION IS THE BEST IN LAS VEGAS * CLOSE TO DOWNTOWN SUMMERLIN , LAS VEGAS BALL PARK, GOLDEN NIGHTS TRAINING CENTER * TWO 18 HOLE COURSES -ONE PUBLIC AND OTHER MEMBERS ONLY * ALSO WITH MEMBERSHIP NINE TENNIS COURTS , THREE POOLS INCLUDING OLYMPIC HEATED POOL, FITNESS CLUB , COUNTRY CLUB AMENITIES AND MORE.

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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)

PRICE & RENT TRENDS

Neighborhood: Red Rock Country Club at Summerlin

NeighborhoodNIR Market*CityMarket2010Year20002019200k300k400k500k600k700k800k900k1000kPrice in $119k1065k

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

Neighborhood: Red Rock Country Club at Summerlin

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21500200025003000350040004500Rent in $10764918

* 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
Judy And John Goolsby Elementary School Primary Regular 807 42 10
Victoria Fertitta Middle School Middle Regular 1,472 60 NA
Palo Verde High School High Regular 3,024 114 9

Judy And John Goolsby Elementary School

  • Education Level: Primary
  • # of students: 807
  • # of teachers: 42
10
GreatSchools Rating

Victoria Fertitta Middle School

  • Education Level: Middle
  • # of students: 1,472
  • # of teachers: 60
NA
GreatSchools Rating

Palo Verde High School

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

$773,820$945,780$859,800

PURCHASE PRICE

$2,952$3,608$3,280

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,280
EXPENSES Loan Payment -$3,172
Property Tax -$391
Property Insurance -$80
Property Management Fees -$119
CASH FLOW
-$482

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.

$859,800

PROJECTED PRICE

$3,280

PROJECTED RENT

0.38%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

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
11530$0.0$500k$1.0M$1.5M$2.0M$2.5M

PROJECTED ANNUAL CASH FLOW

11530-$10k$0.0$10k$20k$30k

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$233,597

INVESTMENT

$233,597

Down Payment
$214,950
Rehab Estimate
$5,750
Closing Costs
$12,897

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$3,172

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $214,950
Loan Amount $644,850
See What Happens When You Reinvest Cash Flow

3.67

YEARS SAVED

$35,300

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,280

    LIST RENT
  • $1.21

    LIST RENT PER SQFT
  • $2,705

    COMP ESTIMATED VALUE
  • $1

    COMP AVG. RENT PER SQFT
Comps Range
$2,500
1$2,5002$2,5003$2,7504$2,9505$3,280
$3,280
RENT COMPS ANALYSIS
  • 2481 Hollow Rock Court Las Vegas, NV 5
    • 3 beds 3 baths ∙ 2,712 Sqft ∙ Built 1999 3 beds 3 baths ∙ 2,712 Sqft ∙ Built 1999
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $3,280
    • $1.21
    •  
  • 1327 Marshfield Road Las Vegas, NV 1
    • 4 beds 2 baths ∙ 2,548 Sqft ∙ Built 2007 4 beds 2 baths ∙ 2,548 Sqft ∙ Built 2007
    property image
    LEASED 06/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $0.98
    •  
  • 11337 Corsica Mist Avenue Las Vegas, NV 2
    • 3 beds 3 baths ∙ 2,704 Sqft ∙ Built 2005 3 beds 3 baths ∙ 2,704 Sqft ∙ Built 2005
    property image
    LEASED 08/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $0.92
    •  
  • 1957 Cape Cod Landing Drive Las Vegas, NV 3
    • 3 beds 3 baths ∙ 2,742 Sqft ∙ Built 2007 3 beds 3 baths ∙ 2,742 Sqft ∙ Built 2007
    property image
    LEASED 12/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,750
    • $1.00
    •  
  • 2854 Dove Run Creek Drive Las Vegas, NV 4
    • 3 beds 3 baths ∙ 2,712 Sqft ∙ Built 2002 3 beds 3 baths ∙ 2,712 Sqft ∙ Built 2002
    property image
    LEASED 07/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,950
    • $1.09
    •  
PROPERTY LISTING DETAILS
Ross A Fabrizio
1.702.360.1900
Award Realty
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2255055
Last Updated: 12/12/2020
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