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2666 Cottonwillow Street Las Vegas, NV 89135

3 Beds 4 Baths 1,178 sqft Built 2001

$319,900

List Price

$1,310

$1.2K - $1.4K

Rent Est.

PROPERTY INFO

December 05, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2001
  • Price/Sqft : $271.56
  • 4 Days on Market
  • MLS # : 2250800
  • Updated Date : 12/05/2020 at 11:29
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,178 sqft
  • Baths : 2 full , 2 half
Listing Agent

Show Vegas Realty

Listing Agent's Description

Beautifully renovated home in quaint Summerlin neighborhood, Close to Downtown Summerlin and access to some of the finest schools in Las Vegas, SUPER prime location. Well done neutral palette with all new Luxury vinyl Plank flooring, Quartz Countertops, stainless steel appliances and all new carpeting. Three bedrooms and a nice size patio yard with BBQ area and pergola for those great Las Vegas evenings. A rare find in this market right now. Must see this one

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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)

PRICE & RENT TRENDS

Neighborhood: The Willows

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320k340k360k380kPrice in $119k395k

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

Neighborhood: The Willows

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21100120013001400150016001700180019002000Rent in $10762007

* 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
Victoria Fertitta Middle School Middle Regular 1,472 60 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

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
 

$287,910$351,890$319,900

PURCHASE PRICE

$1,179$1,441$1,310

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,310
EXPENSES Loan Payment -$1,180
Property Tax -$168
Property Insurance -$50
Property Management Fees -$119
CASH FLOW
-$207

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.

$319,900

PROJECTED PRICE

$1,310

PROJECTED RENT

0.41%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.05%
Appreciation Year (1-5) 8.8%
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

PROJECTED ANNUAL CASH FLOW

11530-$4.0k-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k

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$90,524

INVESTMENT

$90,524

Down Payment
$79,975
Rehab Estimate
$5,750
Closing Costs
$4,799

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 60% down payment or higher enables the proceeds from the asset to cover all costs.

$1,180

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $79,975
Loan Amount $239,925
See What Happens When You Reinvest Cash Flow

3.08

YEARS SAVED

$8,978

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,310

    LIST RENT
  • $1.11

    LIST RENT PER SQFT
  • $1,287

    COMP ESTIMATED VALUE
  • $1.09

    COMP AVG. RENT PER SQFT
Comps Range
$1,310
1$1,3102$1,3503$1,3954$1,4955$1,595
$1,595
RENT COMPS ANALYSIS
  • 2666 Cottonwillow Street Las Vegas, NV 1
    • 3 beds 4 baths ∙ 1,178 Sqft ∙ Built 2001 3 beds 4 baths ∙ 1,178 Sqft ∙ Built 2001
    • Rent
    • Rent Per SQFT
    •  
    • $1,310
    • $1.11
    •  
  • 10515 Lilac Tree Avenue Las Vegas, NV 2
    • 3 beds 2 baths ∙ 1,284 Sqft ∙ Built 2000 3 beds 2 baths ∙ 1,284 Sqft ∙ Built 2000
    LEASED 01/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,350
    • $1.05
    •  
  • 3242 Velvet Rose Street Las Vegas, NV 3
    • 3 beds 2 baths ∙ 1,284 Sqft ∙ Built 2000 3 beds 2 baths ∙ 1,284 Sqft ∙ Built 2000
    LEASED 02/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,395
    • $1.09
    •  
  • 10260 Wood Work Lane Las Vegas, NV 4
    • 3 beds 2 baths ∙ 1,310 Sqft ∙ Built 2000 3 beds 2 baths ∙ 1,310 Sqft ∙ Built 2000
    LEASED 01/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,495
    • $1.14
    •  
  • 2652 Good Fellows Street #n/a Las Vegas, NV 5
    • 3 beds 3 baths ∙ 1,467 Sqft ∙ Built 2001 3 beds 3 baths ∙ 1,467 Sqft ∙ Built 2001
    LEASED 02/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $1.09
    •  
PROPERTY LISTING DETAILS
Roger D Leblanc
1.702.351.0486
Show Vegas Realty
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2250800
Last Updated: 12/05/2020
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